Opening a Permata Bank Account: Deposits and Requirements

Deposit Requirements

Permata Bank requires a minimum deposit to open an account, which varies depending on the type of account you choose:

• IDR-only account: The minimum deposit is typically around 100,000 IDR. This deposit acts as a non-withdrawable balance and remains in your account until you close it.
• Multicurrency account: The minimum deposit for a multicurrency account is usually around 1,000,000 IDR. Similar to the IDR-only account, this deposit is non-withdrawable and remains in your account until closure.

Additional Requirements

• KITAS (Temporary Stay Permit): As of November 2023, Permata Bank requires a KITAS for foreigners to open an account. This means tourists or individuals on a visa on arrival (VOA) cannot open accounts directly.

Opening an Account without a KITAS

While Permata Bank currently requires a KITAS, other Indonesian banks may offer account opening options for foreigners without a KITAS. These banks typically require a local sponsor or guarantor to vouch for the applicant. Some popular options include:

• OCBC NISP: Requires a higher deposit (around 50 million IDR) but offers a user-friendly mobile app, multicurrency options, and higher transaction limits.
• Maybank: Offers a separate USD card but has limitations on online payments.
• Mandiri: Widely accepted for online payments with higher limits, but the mobile app may not be as user-friendly.
• BNI: May have an Indonesian-language app and require a local sponsor.

Choosing the Right Bank

When selecting a bank, consider the following factors:

• Deposit requirements: Choose an option that aligns with your financial capabilities.
• Transaction limits: Ensure the limits meet your spending and withdrawal needs.
• Mobile app usability: A user-friendly app in English can greatly enhance your banking experience.
• Multicurrency options: Consider if you need to hold and transact in multiple currencies.
• International usage: If you plan to use the card outside of Indonesia, check the bank's policies and any potential restrictions.

Conclusion

While Permata Bank currently requires a KITAS for account opening, several other Indonesian banks offer viable options for foreigners. Carefully assess your needs and research the available options to make an informed decision that best suits your financial requirements in Bali.