Opening a Bank Account in Bali as a Foreigner: Personal and Business Banking in 2026
Whether you're moving to Bali, staying for a few months or setting up a company here, sooner or later you'll probably want a local bank account. Paying rent, receiving a salary, paying suppliers or simply avoiding international card fees become much easier once you bank locally. In this article, we'll look at the main banks, who can open an account, and what you need to know about tokens for corporate accounts.
Opening a local bank account can make everyday life in Bali much easier, from paying rent and receiving payments to managing business expenses. For foreigners, however, the requirements can vary depending on your visa, nationality, and the bank you choose.
For our readers who are short on time : Having a KITAS (Kartu Izin Tinggal Terbatas) makes opening a bank account much easier. Some banks may be willing to open a personal account without a longer-term residence visa, but this is down to each bank's decision and any references you're able to provide. Nationality matters when it comes to banking here, and some banks may ask for extra paperwork or refuse to open an account depending on where you're from. For company account holders, you'll need a physical or mobile token to log in and approve transactions, and usually two people (a maker and an approver) need access.
Which Bank Should You Choose?
Indonesia has many banks, and each one can offer different services, requirements, and digital banking features. The right option will depend on how you plan to use your account, whether for personal spending or running a business.
There are many banks in Indonesia, but these are the most popular. The right one for you will depend on which banking services are most important to you.
Mandiri
Bank Mandiri is a state-owned bank and one of the biggest in the country. It's now part of Danantara, Indonesia's sovereign wealth fund (you can read more about Danantara in our article on Bali's New Waste Plant and Financial Centre). It is considered one of the most modern banking options, boasting an advanced mobile platform and seamless digital transaction approval systems. However, as a state-owned enterprise (BUMN), it operates under stricter regulatory oversight, meaning account details may be subject to government visibility and tax reporting. On the flip side, this state ownership provides an added layer of stability, as many view it as implicitly backed by the government and a safe refuge during economic downturns.
For business owners and PTs (limited liability companies), Mandiri stands out as one of the few major banks in Indonesia that issues dedicated corporate debit cards linked directly to corporate accounts. This simplifies operational spending significantly, allowing companies to cover day-to-day business expenses directly without forcing founders or employees to pay out of pocket and request reimbursements.
BCA
BCA (Bank Central Asia) is a privately owned bank with an exceptional reputation in Indonesia, similar in standing to established high-street banks like Barclays in the UK. To open a personal account as a foreigner, holding a valid KITAS is essential. While its onboarding processes and account management traditionally felt somewhat dated, BCA has steadily modernized its platforms in recent years. This updated experience, combined with its strict security standards, makes BCA widely regarded as one of the safest and most reliable choices for banking.
OCBC
OCBC is a bank with Chinese roots, headquartered in Singapore, with a strong presence in Indonesia. It is an ideal option if you are already familiar with banking in Southeast Asia or frequently move between Singapore and Indonesia. While traditional banking platforms can feel dated, OCBC has actively modernized its digital experience. Many expats favor its mobile app interface for its intuitive layout, making everyday transfers and account management seamless while living abroad. Additionally, OCBC tends to be one of the more flexible banks regarding foreigner account opening requirements in Indonesia.
Permata
PermataBank is another well-established option in Indonesia, particularly popular among foreign residents and expats. With multiple branches across Bali and major urban centers, it offers accessible customer support and relatively foreigner-friendly account opening procedures. The bank has also made significant strides in modernizing its digital presence through its Permata ME mobile app, which offers a clean, user-friendly interface for daily transfers, bill payments, and account tracking without requiring a physical token. For many expats, Permata strikes a comfortable balance between widespread branch availability and modern digital convenience.
Can You Open a Bank Account Without a KITAS?
Many people assume you need a KITAS (Kartu Izin Tinggal Terbatas), a short-term residency permit, before you can open a bank account in Indonesia. In most cases, having one makes the process much easier.
In some cases, foreigners may be able to open a personal account without a long-term residence permit, but approval and requirements can vary from one bank to another.
That said, some banks may be willing to open a personal account for foreigners without a longer-term residence visa. Ultimately, it's down to the bank's decision, and having a reference you can provide may make a difference. Some banks may also ask for your TIN (Tax Identification Number) from your home country.
Does Opening a Bank Account Depend on Your Nationality?
Banks in Indonesia have the right to set different rules for account opening depending on your nationality. For some nationalities, this simply means extra paperwork. For others, it can mean the bank refuses to open an account altogether. For example, at the moment, Bangladeshi nationals cannot open a bank account at all, and Iranians and Syrians may face difficulties being accepted by banks in Indonesia.
Certain nationalities, such as Russian, Ukrainian and Belarusian nationals, may currently be required to hold a KITAS. It's worth keeping in mind that banks can update their requirements at any time, so it's always best to check before you head to the branch.
In general, if you are coming from a country that's facing war, conflict or instability, you may face issues opening an account here. It doesn't mean it's impossible, but it's worth preparing for extra questions and documents, and having a backup plan in place.
Opening a Corporate Account
If you've set up a PT PMA (Perseroan Terbatas Penanaman Modal Asing), a foreign-owned company, you'll need a corporate bank account to run your business. Corporate accounts work a little differently from personal accounts. For security reasons, there are usually two roles:
The maker: the person who creates a transaction, such as a payment to a supplier.
The approver: the person who checks and authorises that transaction before it goes through.
This means that usually two people need to have access to the company's bank account. It's an extra step, but it protects your business from errors and fraud.
What Is a Bank Token?
A bank token adds an extra layer of security to corporate banking transactions. Depending on the bank, this may be a physical device or a mobile token used to generate the codes needed to access and approve transactions.
When you open a corporate account, you'll be given a token. This is what you use to log into your internet banking and approve transactions. Each time, you'll need to enter a special code generated by your token.
There are two types:
Physical token (hard token): a small device, a bit like a calculator with a keypad and a little screen, that generates your code.
Mobile token (soft token): an app on your phone that does the same job.
Which one you get depends entirely on the bank you choose, so if you have a preference, that’s worth asking about in-branch.
Be extremely cautious not to lose or misplace your security token. Obtaining a replacement can be time-consuming and may require a director to appear in person at a local branch in Indonesia. If you use a soft token (digital app token), ensure the mobile number linked to your account remains active at all times so you do not miss critical verification codes.
Mandiri's Mobile Token
As far as we know, Mandiri doesn't issue physical tokens anymore and mostly uses its mobile token instead. The good news is that you don't necessarily need an Indonesian (+62) SIM card to use it. Mandiri accepts phone numbers from the following countries for its mobile token:
So, for example, if you're from the UK, you can download the Mandiri mobile token and use your British number for verification, and it will still work. Keep in mind that this list is specific to Mandiri. If your number isn't from one of these countries, you'll likely need an Indonesian number.
BCA's Tokens
BCA is a different story. As far as we know, BCA currently only provides physical tokens for foreign nationals. While it does offer a soft token called KeyBCA Bisnis for its myBCA Bisnis and myBCA Bisnis Lite services, the soft token uses biometric verification connected to Indonesia's civil registry, meaning it's only available to Indonesian citizens. So if you're a foreigner banking with BCA, expect to be given a physical token.
Need Help?
Opening a bank account is only one part of settling into life or business in Bali. From visas and residency to business setup, having the right documentation in place can make the process much smoother.
Opening a bank account in Bali is usually simple once you know which bank suits your situation, but the rules can vary from bank to bank and can change without much notice. If you need help with obtaining residency, getting a KITAS/visa or setting up a business in Bali, we’d be happy to help. Taking these steps will make it much more straightforward to then open a bank account. We are Bali Solve, a business consulting and visa agency based in Pererenan, near Canggu. Simply reach out to us via WhatsApp or visit our office in Pererenan to schedule a consultation today.
Frequently Asked Questions
Q: Can I open a bank account in Bali without a KITAS?
A: In some cases, yes. Some banks may be willing to open a personal account without a longer-term residence visa, but this depends on the bank, your paperwork, your nationality and any references you can provide. Russian, Ukrainian and Belarusian nationals may be required to have a KITAS.
Q: Why was my bank account application refused?
A: Banks in Indonesia can set different rules depending on your nationality. Some nationalities need extra paperwork, while others may be refused. For example, Bangladeshi nationals currently cannot open a bank account at all, and Syrians and Iranians may face difficulties doing so.
Q: What is a token?
A: A token is a physical device or mobile app that generates a special code you'll need to log into your internet banking and approve transactions. It's standard for corporate accounts in Indonesia.
Q: What's the difference between a maker and an approver?
A: The maker creates a transaction, while the approver authorizes it. For security reasons, corporate accounts typically require two people to hold these distinct roles, though a single user can fulfill both functions if account permissions allow.
Q: Do I need an Indonesian phone number for the Mandiri mobile token?
A: Not necessarily, as Mandiri accepts numbers from 25 countries, including the UK, USA, Australia, Germany and Singapore. If your number isn't on the list, you'll likely need an Indonesian (+62) number.
Q: Can foreigners use BCA's soft token?
A: Not at the moment. BCA's KeyBCA Bisnis soft token uses biometric verification linked to Indonesia’s civil registry, so it's currently only available to Indonesian citizens. Foreigners will need a physical token.
Q: Is Mandiri a state-owned bank?
A: Yes. Mandiri is state-owned and is now part of Danantara, Indonesia's sovereign wealth fund. BCA, on the other hand, is a private bank.
Written by Bali Solve Team
2 October 2026
