• Indonesian

How to Open a Bank Account in Indonesia

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Both natural and legal persons are entitled to open a bank account in Indonesia.

In Indonesia, there are three commonly used bank accounts, namely saving, checking and deposits accounts.

Savings account

  • Frequently used account that allows real-time transfers.
  • ATM card


Checking account

  • Payments via checks or giro (demand deposit)
  • Delayed payment by retroactive checks


Deposit account

  • Higher interest rates
  • Deposits are withdrawn based on an agreement between a client and bank

How to Open a Bank Account in Indonesia

Corporate Entity

Opening a corporate bank account is one of the mandatory steps of a foreign-company incorporation process. The account must be established with a bank that is licensed as a Foreign-Exchanged Bank or Bank Devisa so that it can handle foreign currencies.

Even though most banks allow to set up a bank account after the company registration is complete, it is also possible to register a bank account during the process. Unfortunately, not all banks provide this service.

Foreign Individual

Banks apply different requirements, but a stay permit (either temporary or permanent) is required. Only with ITAS or ITAP foreign individuals in Indonesia are allowed to open bank accounts. In-depth knowledge of Indonesian regulations plays an important rule because other than ITAS or ITAP, you will also have to prepare supporting documents.

Bank Account Set Up in Indonesia with Cekindo

On top of the bank account opening for foreign citizens and legal entities in Indonesia, Cekindo can assist in the following services that require an individual approach.

Registration of a Corporate Account from Overseas

Thanks to our partnership with several banking institutions, it is possible to open a bank account while staying in a different country. Once provided with required documents, Cekindo will act on our client’s behalf and set up an account.

Business Account Set Up before Company Registration

To save time, Cekindo is here to work on customers’ behalf and start a business bank account during the establishment of a foreign-owned company is completed.

Non-Resident Bank Account

Tourists and non-taxpayers are entitled to open a bank account in Indonesia as well. Although these accounts are in enormous demand especially in tourist areas such as Bali, there are still many banks that are not willing to offer this service.Cekindo will not only recommend the banking institutions and assist during the setup. We will further consult the pros and cons of all available accounts such as for:

  • maximum USD 50,000 balance
  • a balance of USD 50,000 and above
  • a large balance exceeding USD 1,000,000

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Selected Testimonials

  • logo-PT-Asia-Victory

    Prior to choosing Cekindo as our business partner in Indonesia, we interviewed and compared several companies. Finally, we chose to cooperate with Cekindo because of its professionalism and quality. Cekindo has assisted us in many ways, from company certification application to KITAS application and financial statement compliance to the fulfillment of other tax obligations in Indonesia. We appreciate the team’s fast response and professionalism in preparing the financial statements, among others.

    Doris Chen
    PT. Asia Victory and PT. Bigger One
  • logo Toaster

    When I joined Toaster, it was already working with Cekindo. But it’s quick to see why Toaster chose Cekindo. Cekindo has been very helpful throughout. Toaster Headquarters is based in London. Indonesian tax laws are not our specialty. Cekindo’s team has helped us to understand Indonesian tax. They are very knowledgeable and dependable, and therefore a huge asset to our company.

    Tsui-Sie Wong
  • logo Ohmnia

    As a new business in Indonesia, we started consulting with multiple law firms but quickly narrowed down to only Cekindo. Cekindo was recommended as one of the top firms by multiple sources in the business community. The staff at Cekindo was very responsive to our needs as a new business. The team provided consultancy and assisted our startup firm with initial business setup, licenses and permits, HR/recruitment and market research. One year since our establishment, we still consider Cekindo as our partner.

    PT Ohmnia Tenaga Surya
  • Jan Pilar - Hydropol

    When we intended to enter the Indonesian market back in 2013/14, Cekindo helped us to understand the possibilites and options for business presence in Indonesia through legal advice & also advisory on how to arrange for ownership. Furthermore, Cekindo also provides us with a range of fully professional and reliable accounting & tax services for our representative office in Indonesia. In the world of digital & virtual economy like today, it is an essential prerequisite to have the most reliable business partner like Cekindo.

    Jan Pilař
  • Sagar Datar - Bristlecone

    A huge gratitude to Cekindo, particularly its visa team, for handling our visa cases. During our visa applications, Cekindo was extremely helpful not only in facilitating all of our visa requirements but also in clarifying our queries/doubts. I would like to take this opportunity to acknowledge and appreciate the good work of Cekindo’s visa team.

    Sagar Datar

Selected Clients