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How to send money to Indonesia
Compare transfer companies to get the most rupiahs for your dollar.
Updated . What changed?
If you need to send money to friends or family members in Indonesia, you might worry that the process will be complicated and costly. Sending money from the United States to Jakarta or anywhere else in Indonesia doesn’t have to be expensive and laborious. Compare the transfer fees and exchange rates of the options available to you to get the most Indonesian rupiahs for your dollar.
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Compare services to send money to Indonesia
Use our comparison table to quickly see rates for your next transfer to Indonesia by entering the amount you want to send and clicking calculate.
What's in this guide?
- Compare services to send money to Indonesia
- How to send money to Indonesia online
- What's the best way to send money to Indonesia?
- How to get the most out of your money transfer to Indonesia
- Indonesia's exchange rates explained
- Documents needed for sending to and receiving money in Indonesia
- What to watch out for
- Bottom line
How to send money to Indonesia online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
- Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Indonesian bank account details.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Indonesia. Some money transfer providers send a text or email when your transfer is complete.
What’s the best way to send money to Indonesia?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Indonesia. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Banks, PayPal and other options are available but come with high fees, weaker rates and longer turnaround times.
Digital money transfer services
Companies like OFX and CurrencyTransfer specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Indonesian bank account, often in as little as a day or two.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Indonesia— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly when possible.
The Indonesian rupiah isn’t a popular currency, so your local bank probably won’t be able to exchange USD for IDR. If your bank does support the Indonesian rupiah, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let’s crunch the numbers: Sending $1,000 to Indonesia
Let’s say you need to send $1,000 USD to IDR, to family in Indonesia. Here’s what you might face as far as fees and exchange rates as of April 27, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$3.99||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 15,374 IDRtd>||1 USD = 15,420 IDR||1 USD = 14,310 IDR|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||IDR 15,373,570||IDR 15,358,536||IDR 13,952,250|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with IDR 1,421,320 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Indonesia in as little as 15 minutes.
How to get the most out of your money transfer to Indonesia
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Indonesia to meet your needs:
- Exchange rates. The USD to IDR relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Indonesian rupiahs you’re sending.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Indonesia.
- Minimum limits. Average incomes vary widely between the US and Indonesia, which means companies with high minimums transfers may not be your best choice.
- Transfer methods. Whether you want money sent to an Indonesian bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer
When it’s more important to get your money to Indonesia quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
How to send money to Indonesia without a bank account
Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
Indonesia’s exchange rates explained
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Indonesia’s exchange rate is flexible compared to the US dollar, which means it sometimes shifts hundreds rupiahs or more per dollar in a day, if not more. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Indonesian rupiah trades against the US dollar in our historical rate chart.
Documents needed for sending to and receiving money in Indonesia
To send money to Indonesia from the US, you’ll need government-issued ID and other documents, while documents needed to pick up money in Indonesia may be different by company.
Documents to send money from the US
To send money from the US to Indonesia, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SSN.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Indonesian bank account and routing number.
Documents to receive money in Indonesia
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. An Indonesian passport, an Indonesian National ID card, an Indonesian driver’s license or similar government-issued ID.
- Proof of address. Indonesian residents may have to prove their address using a utility bill or something similar.
- Sender’s information. Take along your sender’s full name, the sending country and their address, if known.
What to watch out for
Sending cash to Indonesia may subject you to both taxes in the US and taxes in Indonesia, depending on your sending and receiving situation. Be sure to file all outgoing transfers with the IRS on your taxes to make sure you won’t face fines later on.
- Sending money for travel? Read our guide on travel money in Indonesia for tips and travel information.
Sending your hard-earned money to Indonesia shouldn’t cost a fortune. Compare transfer companies that specialize in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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