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  • #31
    Originally posted by kim& mika View Post
    BCA needs an English defined ATM card, default ones are in Bhasa.
    Seems like other banks are more progressive
    This is true. BNI ATMs have the option but BCA is in Indonesian only unless I use my UK HSBC card when the screen appears in English. Must ask the bank to change mine. Most things aren't a problem now but my Indonesian still needs a lot of work so it would be handy.

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    • #32
      I finally got around to opening an Indonesian bank account in July and went with HSBC due to it being an international brand. They were very pedantic, which I understand, about my signature. I think I used about 4 pages of white paper just to try and make sure I had the exact same one as on my KITAS.

      I have accounts in USD and IDR. Didn't try using my Visa Debit Card when I was in my home country but tried using it at the airport terminal in Sydney and couldn't use it to pay in any combination of accounts or PIN/sign.

      Aside from that I've found them pretty good. Internet banking is far superior to my bank in my home country. Just the currency exchange rate when transferring between USD and IDR isn't too flash.

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      • #33
        Originally posted by marcus View Post
        By the way , the conversion fee for your US Visa card is not dependent on the Indonesian bank's ATM you use . I already checked by withdrawing the same amount of money in BCA's ATM , and Standard Chartered's ATM in the same hour and the 2 debits in my country were exactly the same . Visa seems to be the one that defines the exchange rate/other banks fees and your card's bank defines its fee ( http://usa.visa.com/personal/using_v...x_rates_us.jsp )
        From what I saw in some banks websites , Visa charge about 1% for each country's operation , banks involved normally charge about 1.5% each , and sometimes there is a fixed fee of about USD3 for each withdraw operation .
        Ohhhh, I never knew that thanks for the knowledge as always Marcus

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        • #34
          Originally posted by cup1981 View Post
          Ohhhh, I never knew that ..
          Another detail : the rate changes once per day at 00:00 New York time . I usually check the rate with 0% bank fee and see which day is better to withdraw ( lets say , Rupiah went down the day before and my country's currency went up ). The rate seems to have a small adjustment somewhere because the banks fee I figure out were not always the same .
          And if you pay the fee for each withdraw , look for an ATM which delivers up to Rp4 Juta per withdraw (HSBC , ..). Most ATMs are limited to Rp2.5 Juta . With Indonesian cards , these same ATMs seem to , recently , be limited to just Rp1.5 J.
          Last edited by marcus; 30-11-10, 10:22.

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          • #35
            after coming back from singapore with the kitas papers, how long does it take for all the kitas paperwork to be finished?
            and then whats the format for opening accounts, getting a credit card, or small personal loan say to pay for rent etc?
            any recommendations for banks?
            what is the procedure? do you have to show a "salary certificate" or similar? what if you only just got here, and they want to see say 6months statements ?

            or do they only care that your signature matches!?

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            • #36
              I guess you come with a VITAS which , within few days after arriving in Indonesia , need to request it to be converted to KITAS and will probably take about 2(?) weeks .
              To open a bank account , normally , passport/copy and KITAS/copy . For credit card , normally , the same for opening a bank account + proof of monthly income .
              For exceptions , see previous posts in this thread and :
              http://www.livinginindonesiaforum.or...5924#post55924
              I don't know about loan . Isn't easier to ask a loan from your boss ?
              Last edited by marcus; 30-11-10, 10:15.

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              • #37
                ok yes i heard something similar, sorry i dont know difference between kitas vitas etc but after going to indo emb in singapore, collecting "kitas" documents, then coming back, it takes a couple of weeks to finish a full kitas?

                so for accounts / cards etc a "proof of income" well would banks accept a "salary certificate" ? i mean if you only just started work then how can you prove what your salary is if you havent been paid yet

                loan i mean from a bank - i doubt a boss wants to lend say 100-200jt even though he could deduct it from source
                i was thinking more of a normal bank - local or international
                some places want 12mths rent advance so sometimes thats hard to find from your first pay cheque!

                anyway thanks marcus

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                • #38
                  Citibank is good bank and service in Indonesia. You will have relationship manager so anytime you need asking about your saving account, you just call your relationship manager. Citibank ATM have two currency: USD and Rupiah with no charge. If you want to send money to abroad by citibank is very cheap than other bank.

                  For local bank, you can try Bank Mandiri, BNI or BCA.

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                  • #39
                    If you are looking to support a bank that nearly destroyed the US economy, and the world economy along with it, Citi would be one of the front runners. Their service here caters to the well healed, for the most part. One of the big "local" national banks on its own provides me better services for better value than Citi. (Note that "better than Citi" is not necessarily all that good either.)

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                    • #40
                      Originally posted by careandfriendly View Post
                      Citibank is good bank and service in Indonesia. You will have relationship manager so anytime you need asking about your saving account, you just call your relationship manager. Citibank ATM have two currency: USD and Rupiah with no charge. If you want to send money to abroad by citibank is very cheap than other bank.

                      For local bank, you can try Bank Mandiri, BNI or BCA.
                      I went to Citi recently (I have an account there) as I needed to transfer $600 to an account(not mine) in another Indonesian bank. I informed them that I wished to pay the transfer charges as I wanted the recipient to receive the exact amount. I was told that this would cost me $32 plus another $10 for something or other - not cheap in my book. The $32 seemed to be some sort of insurance policy for the bank in that it was the highest possible amount that the receiving bank would charge. Instead I opted to pay the $10 and wait and see what the receiving bank charges at the other end and I will sort it out later with the recipient. I was told the transfer could take up to three days. Overall I thought it was expensive and not very efficient.
                      "[COLOR=#000000][FONT=Helvetica Neue]I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it.[/FONT][/COLOR]"
                      George Bernard Shaw

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                      • #41
                        We've had really good customer service at the local BNI, which I understand to be guaranteed by the Indonesian government.

                        We haven't opened any accounts, as we've opted to use debit cards at local ATMs most of the time.

                        My Chase card charges a $3 dollar fee per use plus 3 percent, but my Capitol One card charges neither fees nor percentages for the up to about 4 ATM uses per month.

                        I also brought a number of Traveler's Checks, most of which we used to buy a new Yamaha Byson.

                        Traveler's Checks, which are accepted by the BNI in Bukittinggi and at least one branch of BNI in Padang, are a good way to get larger sums of money than ATM withrdrawals allow.

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                        • #42
                          Originally posted by jennykapau View Post
                          ...My Chase card charges a $3 dollar fee per use plus 3 percent, but my Capitol One card charges neither fees nor percentages for the up to about 4 ATM uses per month...
                          Could you tell us how do you check ? I check at :
                          http://usa.visa.com/personal/using_v...x_rates_us.jsp (rates change once per day at 00:00 N.York's time)
                          For me it is hard to believe the zero cost . From what I saw in one bank's website , there are fees from Visa/Plus or MasterCard/Cirrus (up to 2%) , then fee from the owner of the ATM (up to 1.5%) , and fee from your bank (up to 1.5%) . And what I have checked from my withdraws are about that (total fee around 3.2%% to 4.4% , and this because my bank exempted the fixed fee per withdraw).
                          Last edited by marcus; 10-12-10, 15:45.

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                          • #43
                            Marcus,

                            Sorry for the long response time.

                            I check my Capitol One account online, and I have never had charges for ATM use.

                            Each month they reimburse the first $10 of ATM usage fees, which works out to about 4 or 5 uses without charge per month. They do not charge a conversion to rupiah fee.

                            If I use the card to make purchases, then there is a 1.5 percent fee.

                            On the other hand, Chase charges me $3 per ATM use plus a 3 percent conversion fee. When I was traveling in Asia for nine months a couple of years ago, this cost me hundreds of dollars.

                            That is why I was so keen on finding another option. I did not want to pay hundreds of dollars to an institution already making money off my money....just to use my own money!

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                            • #44
                              It will usually depend on the type of account you have that will determine if ATM fees are charged and how much. I opened a Fidelity Investment account for the specific reason to have zero ATM charges no matter where I am or what ATM machine I use. It has worked great with never any type of ATM charge and never a foreign transaction fee, although admittedly, I have never checked the currency exchange rate.

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                              • #45
                                I believe each bank present the information differently . My current bank does present only one value for the money withdrew overseas . In this value , all fees are included , so the only way to check how much the fees were is to see in that Visa website , in the same day (New York time) you make the withdraw .
                                You all may know that banks don't have free service , except if the banks are already charging you for other bigger services . And in this case of money withdraw outside your country , the operation involves Visa/Plus or MasterCard/Cirrus in the country you withdraw and in your own country (2 transaction's administration services & currency exchanging services) , the bank which owns the ATM overseas (ATM usage fee & cash advancing fee) , and your own bank (administration fee) . This is why I said it is hard to believe in zero cost for the whole operation as it involves 4 business partners .

                                But I have to say that the debit card's option is relatively competitive , maybe because they take the benefit of the volume to get good exchange rates .
                                You can see in this reference below that there are very bad options out there .
                                http://remittanceprices.worldbank.or...tes/Indonesia/

                                Fortunately some Indonesian money changers and some Indonesian banks have very good exchanging rates for foreign currencies . Many of them have a "spread"(difference between buy and sell prices) of around 0.5% for USD . But even in Indonesia , retail exchanging rates in some international banks may have a "spread" bigger than the total fee using debit card .
                                Last edited by marcus; 26-07-11, 17:37.

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