Managing money as an expat in Indonesia isn’t always straightforward. Opening a bank account can involve long waits, language barriers, and paperwork you might not have. International payments are often delayed, and local cards can get declined for international transactions.  If you earn in US dollars or work with foreign clients, these issues can quickly pile up.

That's the reality for many expats working remotely, freelancing, or running global businesses from Indonesia. It's why more expats are moving away from traditional banks and choosing Grey, a faster, simpler way to receive payments, and manage finances with ease.

This article breaks down the banking challenges expats face in Indonesia, why more are choosing Grey, and how to get started.

Read also: Grey vs. local banks: The best currency exchange choice in Indonesia

Common challenges with local banks in Indonesia

1. Lengthy paperwork: Opening and managing a bank account in Indonesia often involves extensive documentation and multiple in-person visits, which can be time-consuming and inconvenient for expats.
2. Poor foreign currency support: Many local banks do not provide seamless solutions for receiving or sending payments in foreign currencies like US dollars, which poses a challenge for expats working internationally.
3. High fees and poor exchange rates: Foreign transactions through traditional banks usually come with high service fees and unfavourable conversion rates, reducing the actual value of your earnings.
4. Restrictions on international cards: Some banks have outdated mobile platforms, and their cards may not support international payments or subscriptions, making global transactions unreliable.

Why expats are choosing Grey over local banks in Indonesia

1. Fast onboarding: Setting up a local bank account in Indonesia can be a lengthy process, often requiring local documentation, proof of residence, and in-person visits. With Grey, expats can open an account online in just a few minutes, with no local address, no bank branch, and no unnecessary paperwork.
2. Access to a multi-currency account: Grey provides expats with US, UK and EU accounts, making it easy to receive payments from overseas employers, clients, or freelance platforms. No more relying on intermediaries or struggling with banks that don’t support foreign currencies.
3. Lower fees and fair exchange rates: International payments through Indonesian banks often come with hidden fees and poor conversion rates. Grey offers competitive rates, transparent pricing, and minimal fees, so expats keep more of what they earn.
4. Global acceptance: Grey is accepted by international platforms and services, allowing expats to shop online, pay for tools, or book services without card rejections or regional restrictions.
5. Ease of use: With a modern, intuitive mobile and web platform, Grey is easy to navigate and perfect for expats who need a reliable financial tool without language barriers or banking delays.
6. Secure and trusted platform: Grey uses industry-standard security protocols to protect your data and funds. As an expat, you can transact confidently, knowing your account is safe and your payments are protected.

Read also: The smart way to send and receive euros in Indonesia

How Grey makes life easier for expats in Indonesia

1. Receive international payments: Whether you freelance, consult, or work remotely, Grey lets you receive multicurrency payments quickly and securely.
2. Use a virtual USD card: Make international purchases online with ease using Grey’s virtual card, which is perfect for paying on global platforms.
3. Pay for US-based subscriptions: From cloud tools to streaming services, Grey helps you subscribe to services that bill in US dollars without card rejections or currency issues.
4. Send money across borders: With Grey, you can send funds to other countries or back home with competitive rates and smooth transfers, avoiding the usual banking stress.

Conclusion

Local banks in Indonesia often present hurdles for expats, with lengthy sign-up processes, poor support for foreign currencies, and high fees that can make managing your finances frustrating. That’s why more expats are switching to Grey. It’s fast, secure, and built for life across borders.

Sign up today and bank without borders.

‍