Where should I setup a bank account in Indonesia?
We asked expats in Indonesia what banks they use and there advice about banking. They advised...
"Just opened an account yesterday. In Indonesia they pay 20% on one-year CD's! Trick is invest here, don't borrow here. They charge 25% interest on loans," wrote a member who made the move to Bali, Indonesia.
AGS Worldwide MoversGet Quote
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
AGS Worldwide MoversRelocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Get Quote
"• Expats should research the different regions and areas of Indonesia thoroughly before deciding on where to retire. • It is important to make sure that the necessary visa and residency permits are up to date. • Healthcare can be a challenge in Indonesia, and expats should look into their health insurance options before they move to the country. • It is crucial to ensure that taxes are filed correctly and paid on time, though many expats may require professional tax advice. • Indonesian law requires expats to have a certain amount of savings before they can obtain their retirement visa, so expats should budget accordingly. • It is also advisable to find out about the different cultural norms and customs that may apply to certain regions of the country," explained one expat living in Indonesia.
Other Questions:
- What do I need to know before retiring in Indonesia?
- How do I meet people in Indonesia?
- What is life like in Indonesia?
- Is there a lot of crime in Indonesia?
- Is there a lot of diversity? Are people in Indonesia accepting of differences?
- What are the schools in Indonesia like?
- Is the cost of living in Indonesia high?
- What advice do you have for expats having a baby in Indonesia?
- What are healthcare services like in Indonesia?
- Is the cost of living in Indonesia high?
- What type of recreational facilities are in Indonesia?
- What is the weather like in Indonesia?
- Are there good restaurants in Indonesia?
- Where will I buy groceries and do other shopping in Indonesia?
- What are the visa & residency requirements in Indonesia?
- Are healthcare and health insurance expensive in Indonesia?
- What do I need to know when buying property in Indonesia?
- Are foreigners allowed to own property in Indonesia?
- What appliances are typically included in a rental?
Where should I setup a bank account in Indonesia?
If you live in Indonesia, newcomers to Indonesia would love to hear your answer to this question.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.