Whatever your personal reasons to remit money to Indonesia, it will pay to research your options thoroughly.
Perhaps you need to transfer your pension to Indonesia each month or make regular payments on a property in the region. Either way, finding the cheapest way to remit money to Indonesia will certainly pay off in the long term.
If you want to remit money to Bank Antardaerah or the state-owned Bank Negara Indonesia you might think about going to your local bank in your country of residence. This could provide you with a convenient way of establishing a transfer to Indonesia, often with just one visit or phone call.
However, the ease of this option can be outweighed by the costs involved. Many banks will impose high foreign exchange fees when you remit money to Indonesia from abroad. Coupled with the poor rates of currency exchange on offer, many people could find this method of remitting money prohibitively expensive.
Meanwhile, Money Sending Bureaus, located on high streets and in shopping malls around the world, also offer a means to remit money to Indonesia. However, they tend to be small and are not always properly regulated. If this isn't enough to put you off, the foreign exchange fees - which can be as much as 15 per cent of the transaction - might deter you from popping into one of these shops.
Alternatively, you could turn to a foreign exchange broker, such as RationalFX. If you remit money to Indonesia with us you will be offered a very competitive rate of currency exchange. But crucially, RationalFX will not charge high currency exchange fees on your transaction, so the exchange rate you see will be what you pay.
Why not open an online account for free with RationalFX today to compare the currency exchange rates on offer at the moment?