Banking in Indonesia could be an exercise in patience, but once expats become more accustomed to the way things are done in the country it will become easier to navigate the financial side of life in Indonesia. 

Money in Indonesia

The official currency in Indonesia is the rupiah (IDR), which is divided into 100 sen.

  • Notes: 2,000 IDR; 5,000 IDR; 10,000 IDR; 20,000 IDR; 50,000 IDR and 100,000 IDR.

  • Coins: 100 IDR, 200 IDR, 500 IDR and 1,000 IDR

Banking in Indonesia

There are plenty of banks for expats to choose from in Indonesia, both local and foreign. Expats will be able to choose whether they would like to open an account in rupiah or in US dollars. Some other foreign currencies are also provided for. Savings accounts, cheque accounts, foreign exchange, debit cards and credit cards are all available in the country.

Most of the staff at international banks in Indonesia will be able to speak English. Although the general requirements may differ from bank to bank, in order to open a bank account in Indonesia, expats will usually need to provide proof of employment, their passport and a residence permit.

ATMs and credit cards

ATMs can be found in most shopping centres, bank branches and tourist areas in Indonesia. Expats can withdraw cash in Indonesia using any major international credit or debit card.

Taxes in Indonesia

Residents of Indonesia are taxed on their worldwide income while non-residents are only taxed on their Indonesian income. Expats who stay in Indonesia for more than 183 days in a 12-month period are considered tax residents of Indonesia. Income tax rates in Indonesia range from five to 40 percent, depending on an individual's income.

Taxes for expats can be complex, so we advise hiring a tax professional familiar with local and global tax regulations to assist.

Further reading

►For more information on managing your finances in the country have a look at Cost of Living in Indonesia

Are you an expat living in Indonesia?

Expat Arrivals is looking for locals to contribute to this guide, and answer forum questions from others planning their move to Indonesia. Please contact us if you'd like to contribute.

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