Banking

Retail

There are many local banks to choose from, along with a handful of foreign ones that offer the standard services that you would expect. The one you choose will depend upon your needs: whether you require a foreign currency account, proximity to home, availability of ATMs, monthly fee, access to a credit card and online banking.  
To open an account, as a foreigner you will be asked to provide the following minimum requirements:

  • A copy of your passport and KITAS/DINAS (visa)
  • A letter of reference from your employer (CIFOR staff can obtain this from HR)
  • Initial deposit amount (between Rp 500,000 to Rp 1,000,000)

Certain banks will not offer joint accounts nor give credit cards to foreigners.  Debit cards linked to ATM cards are offered instead.

International banks such as Citibank and HSBC have English speaking staff and offer US$ accounts that you can withdraw directly at their ATMs. However, the monthly minimum required balance is often quite high (approx. Rp 50,000,000) and the number of ATMs very limited, located mostly in Jakarta.

Many CIFOR staff have an account with Permata Bank, a local bank that sends a representative to CIFOR twice a week from 9 a.m. to noon. Another recommended bank is BCA with its extensive and reliable network. HSBC and Commonwealth Bank have a branch each in Bogor.

You can find more advice on opening an account here and a list of banks and the services they provide for expats here.

Money changers

  • Botany Square Mall on the ‘lower ground floor’ (open from about 10am until 9pm)
  • Opposite the entrance to the Botanical Gardens in the middle of the souvenir stalls (midday only, but not every day)
  • Bank Mutiara on Jl. Surya Kencana/ Jl. Siliwangi – Bondongan (open during banking hours 8/8.30 – 3.30/4pm), and
  • Most banks will be able to exchange money or travellers cheques for you.

US$ notes must be in perfect condition (i.e. no tears or writing).

 

Money Changers in Jakarta

You will find money Changers in most shopping malls or commercial centers in Jakarta.