Business banking in Indonesia : accounts, fees and options

Snapshot

A business in Indonesia banks through a registered local entity. Foreign owners set up a PT PMA, then open a corporate account with a local bank such as BCA, Mandiri, or BNI. International providers like Airwallex and Payoneer add cross border features.

Can a non resident open: Not directly; a local entity such as a PT PMA is needed first, and a foreign director usually holds a KITAS
Typical timeline: About 1 to 4 weeks after the entity, tax number, and permits are ready
Free account available: Local accounts carry monthly or admin fees; some international accounts have no monthly fee
Most providers: Several local and international business accounts

Fees and features as of 16 May 2026Last reviewed 16 May 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

To bank a business in Indonesia you normally need a registered Indonesian company. Local owners use a PT, while foreign owners use a PT PMA. Once the entity, the NPWP tax number, and the NIB business licence are in place, a local bank such as BCA, Mandiri, or BNI opens a rupiah corporate account. International accounts from Airwallex or Payoneer can sit alongside it for foreign currency.

How business banking works in Indonesia

Indonesian banks open corporate accounts only for a registered legal entity, not for an individual acting as a business. The rupiah is the country only legal payment currency for domestic transactions, so most companies hold a local rupiah account for day to day operations and payroll. Larger local banks dominate corporate banking, and a separate international account is common for businesses that invoice or pay overseas.

Who can open a business account

A locally owned company opens an account as a PT. A foreign owner opens through a PT PMA, the foreign investment company that allows foreign ownership in permitted sectors. Since October 2025 the standard minimum paid up capital reference for a PT PMA has been around IDR 2.5 billion, and a foreign director normally needs a KITAS stay permit before a bank will proceed. Confirm the current capital and permit rules with a local adviser.

Traditional banks compared with neobanks

Local banks such as BCA, Mandiri, and BNI offer branches, rupiah accounts, and domestic payment rails, but onboarding is document heavy and usually requires a director to attend in person. International providers such as Airwallex and Payoneer onboard online and are strong for receiving and converting foreign currency, but they are not a full replacement for a local rupiah account and do not provide cash banking.

Requirements and documents

Banks verify the company and its people before opening an account. Typical items include the following. Verify with the provider

The deed of establishment and articles, the NIB business licence, and the company NPWP tax number
Identity documents and, for foreign directors, a KITAS permit, plus details of beneficial owners
A company domicile letter and a board resolution naming the authorised signatories

How to open an account

Register the entity, then obtain the NPWP tax number and the NIB business licence
Prepare the corporate documents and arrange any required director permit such as a KITAS
Apply at your chosen bank, attend the verification meeting, and fund the minimum opening deposit

Compare business accounts available in Indonesia

These providers accept business customers connected to Indonesia, including international accounts for foreign currency alongside a local rupiah account. Fees and eligibility shown as of 16 May 2026. Confirm current terms with the provider before applying.

Compare business accounts →

Questions about business banking in Indonesia

Can a foreigner open a business bank account in Indonesia?

Not directly as a non resident. A foreign owner first registers a local entity, usually a PT PMA, obtains a tax number (NPWP) and business licence (NIB), and a foreign director normally holds a KITAS permit. The bank then opens a corporate account for the entity. As of 16 May 2026, confirm current rules with the bank and a local adviser.

How long does it take to open a corporate account in Indonesia?

After the company, tax number, and licences are in place, opening a corporate account typically takes about one to four weeks, including document checks and a meeting with the director. As of 16 May 2026, timelines vary by bank, so confirm with the provider.

What documents do banks in Indonesia require from a company?

Banks generally ask for the deed of establishment and articles, the NIB business licence, the company NPWP tax number, identity documents and permits for directors and beneficial owners, a domicile letter, and a board resolution naming the signatories. As of 16 May 2026, verify the exact list with the bank.

Can an Indonesian business use an international account like Airwallex or Payoneer?

Yes for cross border use. Airwallex onboards businesses registered in Indonesia, and Payoneer lets Indonesian businesses and freelancers receive foreign currency and withdraw to a local bank. They complement rather than replace a local rupiah account. As of 16 May 2026, confirm eligibility and fees with each provider.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 16 May 2026. Confirm current terms with the provider before applying.