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Send money to Indonesia

Compare transfer companies to get the most rupiah for your dollar.

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 Malaysia 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 rupiah for your ringgit.

Send money to Indonesia with InstaReM

Exclusive: Use code FINDER10 to receive US$10 off your first transaction.

InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.

  • Low transfer fees
  • Zero-margin exchange rates
  • Same or next business day transfer
  • Earn loyalty points on sign up, referral and every transaction
Promoted

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Same day MYR 3.99 3411.651 IDR
17,044,644
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
USD 60 1 day MYR 0.00 3416.453 IDR
17,082,263
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
USD 200 1 day MYR 25.00 3415.767 IDR
16,993,439
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
USD 1 1 day MYR 55.00 3429.481 IDR
16,958,784
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 120 1 - 2 days MYR 5.00 3401.363 IDR
16,989,807
Malaysia-based MoneyMatch offers competitive exchange rates for overseas money transfers from MYR to more than 70 countries. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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 InstaReM and Wise specialise 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.

Cash transfers

Services like Western Union and 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.

Banks

The Indonesian rupiah is almost certainly carried by Malaysian banks. Although your local bank can convert your currency into 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 RM5,000 to Indonesia

Let’s say you need to send RM5,000 to family in Indonesia. Here’s what you might face as far as fees and exchange rates as of 22 November 2020.

Digital money transfer serviceCash transferBank transfer
FeeRM28.77RM10RM30 + additional correspondent bank fees
Exchange rate1 MYR = 3,468 IDR1 MYR = 3,448 IDR1 MYR = 3,289 IDR
Transfer speed1-2 dayMinutes2-5 days
Amount receivedIDR 17,242,314IDR 17,208,300IDR 16,346,330
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

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 895,984 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 send money to Indonesia online

Sign up and send money with a digital money transfer specialist in four steps:

  1. 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.
  2. 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.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. 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.

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 MYR 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 rupiah 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 Malaysia 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 transfers to Indonesia

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 don’t have a bank account. 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 Malaysian ringgit, which means it sometimes shifts hundreds rupiah or more per ringgit in a day, if not more. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Today’s exchange rate MYR to IDR

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Documents needed for sending to and receiving money in Indonesia

To send money to Indonesia from Malaysia, 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 Malaysia

To send money from Malaysia to Indonesia, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s licence, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require other details.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
  • 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 licence 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.

Bottom line

Sending your hard-earned money to Indonesia shouldn’t cost a fortune. Compare transfer companies that specialise in foreign currencies 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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