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Zantara AI
AI Business Advisor
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Zantara AI
AI Business Advisor
Bali Zero handles visas, company setup, tax and property compliance in Indonesia. Ask us directly on WhatsApp.
Chat with Bali Zero on WhatsAppEvery Indonesian company needs a corporate bank account. Here's how to open one for your PT PMA.
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Local Banks (BCA, Mandiri):
International Banks (HSBC, SCB):
Most PT PMAs use: BCA or CIMB Niaga for daily operations, sometimes international bank for cross-border.
Checklist
Configuration required: items array
| Step | What Happens |
|---|---|
| 1. Choose bank | Compare options, location |
| 2. Initial meeting | Discuss requirements |
| 3. Document submission | Complete package |
| 4. Due diligence | Bank verifies documents |
| 5. Approval | Usually 1-3 weeks |
| 6. Account activation | Sign documents, deposit |
| 7. Online banking setup | Token, credentials |
| Phase | Duration |
|---|---|
| Document preparation | 1-2 weeks |
| Bank review | 1-3 weeks |
| Approval | 1-2 weeks |
| Total | 3-6 weeks |
What slows things down:
Prepare thoroughly to avoid delays!
| Account Type | Purpose |
|---|---|
| Giro (Current) | Day-to-day operations |
| Deposito (Fixed) | Earning interest |
| USD Account | Foreign currency |
| Multi-currency | Various currencies |
| Feature | Why Needed |
|---|---|
| Internet banking | Remote management |
| Mobile banking | Convenience |
| Multiple signatories | Control |
| International transfers | Cross-border payments |
| Bulk payments | Payroll, vendors |
| API access | System integration |
| Bank | IDR Account | USD Account |
|---|---|---|
| BCA | IDR 5-10M | USD 500-1,000 |
| Mandiri | IDR 5-10M | USD 500 |
| CIMB Niaga | IDR 5-10M | USD 500 |
| HSBC | IDR 50M+ | USD 5,000+ |
| Standard Chartered | IDR 50M+ | USD 5,000+ |
International banks typically require higher minimums.
| Service | Range |
|---|---|
| Account maintenance | IDR 25-100K |
| Internet banking | IDR 0-50K |
| Minimum balance fee | IDR 50-150K if below |
| Transaction | Local Bank | International |
|---|---|---|
| Domestic transfer | IDR 2.5-6.5K | IDR 5-15K |
| International transfer | IDR 50-150K | IDR 100-300K |
| Check book | IDR 100-200K | IDR 200-300K |
Indonesia has some controls:
Keep all invoices, contracts for transfers!
| For | Documents |
|---|---|
| Import payment | Invoice, LC, customs docs |
| Service payment | Contract, invoice |
| Dividend | Board resolution, tax docs |
| Loan repayment | Loan agreement |
| Requirement | Details |
|---|---|
| Invoice/contract | Supporting document |
| NPWP | Company tax number |
| Reporting | Over USD 10K auto-reported |
| Scenario | Benefit |
|---|---|
| Export business | Receive in foreign currency |
| Import business | Pay suppliers directly |
| International clients | Invoice in their currency |
| Hedging | Hold currency for favorable rates |
| Feature | Availability |
|---|---|
| Balance check | All banks |
| Transfer (domestic) | All banks |
| Transfer (international) | Most banks |
| Bulk upload | Corporate accounts |
| Statement download | All banks |
| Tax payment | Most banks |
| Security Measure | Standard Practice |
|---|---|
| Token/OTP | Required for transactions |
| User limits | Configurable |
| Approval workflow | Multiple signers |
| IP restrictions | Some banks |
For smooth process:
| Mistake | Consequence |
|---|---|
| Incomplete documents | Rejection/delays |
| Director without KITAS | Cannot open |
| Wrong company name | Must match exactly |
| Old deed version | Must be current |
| Missing NPWP | Immediate rejection |
| Requirement | Frequency |
|---|---|
| Update documents | When company changes |
| Minimum balance | Maintain to avoid fees |
| Annual review | Bank KYC update |
| Transaction monitoring | Ongoing compliance |
AI-powered answers from our knowledge base