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  • Bank Recommendations

    I am looking for bank recommendations. I will be living in North Bali (Bondalem) but I will be off the island for large periods of time, so mobile banking is going to be critical. I am from the US, so I am unfamiliar with all the additional features of Balinese banks, such as topping up, so any and all advise is welcome.

    Thank you in advance!

  • #2
    http://www.livinginindonesiaforum.or...s-of-Indonesia (about choosing a bank)

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    • #3
      You can also find some basic info on banking on our sister site - http://www.expat.or.id/info/banking.html
      Danielle Surkatty
      Member of the Organizing Committee
      Living in Indonesia, A Site for Expatriates
      http://www.expat.or.id/

      Living in Indonesia Expat Forum
      http://www.livinginindonesiaforum.org/
      [email protected]

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      • #4
        I bank with ANZ Bank Jakarta and they have limited daily withdraw in USDs and $35.00 wire transfers fee. You may want to check with HSBC as they have a product were you can withdraw in Indonesia from your USA account. If not mistaken, you must deposit $100,000 in a CD account.

        Which city or state are you from. I am from the Bay Area and I bank with First Republic Bank (FRB) in SF. With First Republic Bank, you need to keep a balance of $4,500/month and there is not ATM withdrawal fees worldwide. BTW, I would highly recommend using MagicJack to call the states to your bank and family and friends.. An annual subscription si $35.00 and you call USA and Canada, unlimited.

        PM if you have any questions.

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        • #5
          i dont know about banking procedure for expat

          but i can tell...

          BCA, Mandiri, BRI is three the biggest bank in Indonesia.. and the later 2 owned by goverment..
          bca have the biggest unit atm, you can even withdraw in gas station, minimarket,etc.. BRI have the biggest access to rural area in Indonesia..

          then there is bank like Maybank, CIMB Niaga..bank with intl name that have quite a lot branch and atm in Indonesia

          third, bank with bigname like citibank,hsbc but have a limited access, especially in rural area..of course u can withdraw in any atm, but that come with additional cost.

          for i /m -banking.. i think every bank offer this service, but bca quite focus and invest in this area

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          • #6
            If you have family here in Indonesia, i would be better to have like sharing account. Since wire transfer and western would cost more money.

            I have account in TD trust, before was CIBC, both are work in Indonesia.
            I could withdraw thru Mandiri ATM since Mandiri have plus sign on their debit card.

            But it would not work on BCA since BCA debit card doesnt have plus sign so plus sign will not work there even you saw plus sign in their ATM machine.
            BCA debit card has Cirrus and Maestro.

            Find the sign in back side of the indonesian debit card then you will know what is work in their ATM machine.

            If you thinking that VISA or MASTERCARD logo will work in all Indonesia ATM machine, you are wrong. Because i have tried it and fail.
            It will work if the issuing bank of the ATM machine put VISA or MASTERCARD logo in their debit card (back side).

            TD will cost you 2 dollar for bank transaction fee (for these fee you could consult with the issuing bank to get better deal) + 5 dollar for abroad transaction fee + 2.5% for a bank fee and + rate conversion fee for each withdraw you made.

            If you withdraw in Indonesia then you will get indonesian rupiah. The maximum per withdraw in Indonesia is depend on the ATM, they would be IDR 2.500.000 or IDR 3.000.000 or IDR 3.500.000.

            Mandiri bank rate is better than HSBC... since i have ever have HSBC account.... the advantage of HSBC is this bank is huge, you could find the branch in many countries easily...

            Hope it help...

            Comment


            • #7
              Originally posted by diana indrika sari View Post
              (1) ... I could withdraw thru Mandiri ATM since Mandiri have plus sign on their debit card.
              But it would not work on BCA since BCA debit card doesnt have plus sign ... BCA debit card has Cirrus and Maestro ...

              (2) TD will cost you 2 dollar for bank transaction fee (for these fee you could consult with the issuing bank to get better deal) + 5 dollar for abroad transaction fee + 2.5% for a bank fee and + rate conversion fee for each withdraw you made.

              (3) Mandiri bank rate is better than HSBC...

              (1) Just to make it clear , the difference you showed is not important . Banks usually choose between Visa and MasterCard and so that means that Mandiri card is VISA/PLUS and BCA's card is MasterCard/Cirrus/Maestro (Plus is always associated with Visa and Cirrus is always associated with MasterCard) . As Visa and MasterCard are very common in most countries , you can always find an ATM that works with one or the other (or both) .

              (2) Your bank charges too much . You can find a bank that charges less . You said that a wire transfer costs more , but depending on the amount of money transferred , it may be cheaper than these fees you pay by withdrawing from ATM . From ATM it is usually cheaper (than a wire transfer) for small amount . For medium and big amount , a wire is cheaper if you choose goods sending/receiving banks . There are now many other options that may be cheaper than both using ATM and wire transfer , depending on the country where you have your account and the country where you want the money transferred , for example Transferwise (www.transferwise.com) .

              (3) Yes , but Panin Bank is even better , and also some money changers , like Vip , but for a wire transfer or exchanging bank notes . For ATM withdraw the banks (owning the ATMs) follow the Visa , MasterCard , .. exchange rates , not their own exchanging rates .

              http://vip.co.id (money changer , Jakarta)

              http://www.panin.co.id (exchange rates)

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