Transfer Money to Indonesia

Fast, low-cost, and secure online money transfers from Australia to Indonesia

ASIC regulatedAustralian owned

Exchange Rate 10,342.6662
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ASIC regulatedAustralian owned

Send Money to Indonesia: Compare Rates

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  • 10,342.6662
  • 9,763.8862

IMPORTANT: This table compares exchange rates only. Fees will apply and may depend on the amount you are sending overseas.

To calculate how much it will cost, simply get a quote.

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Sending Money to Indonesia with Wise

When it comes to transferring money from Australia to Indonesia, you want a service that is dependable, swift, and economical. At S Money, we recommend Wise as your top choice for money transfers. Renowned for its clear-cut fees, excellent exchange rates, and reliable service, Wise ensures that your funds arrive in Indonesia promptly and without any hidden charges.

To give you more flexibility, we have also outlined several alternatives to Wise, allowing you to select the service that best fits your requirements. Whether you're sending money for personal reasons, business purposes, or any other needs, our carefully selected recommendations will help you manage the transfer process with ease and assurance.

How it works

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Get a quote to send money to Indonesia

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Set up an account with Wise

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Confirm your details & pay for your transfer online

Instructions on How to Transfer Money to Indonesia

 

1. Setting Up Your Wise Account

Wallet and money illustration

  1. Visit Wise Website or Download the App: Begin by navigating to the Wise website or downloading the mobile app available on iOS and Android platforms.
  2. Sign Up: Click ‘Sign Up’ and choose whether to create an account using your email address, Google account, or Facebook account.
  3. Enter Personal Information: You must provide your name, address, and phone number. This information helps Wise verify your identity and ensure compliance with international financial regulations.

Verification Process:

  1. Identity Verification: Wise requires identity verification for security purposes. You may need to upload a photo ID (passport, driver’s license, or national ID card) and possibly a recent utility bill or bank statement as proof of address.
  2. Verification Time: Depending on the documents provided and your country of residence, this process can take from a few minutes to a few days. Once verified, you’ll receive a confirmation email.

2. Initiating a Transfer  

Illustration of 2 people at computers and rates

  1. Log In to Your Account: Once your account is set up and verified, log in to your Wise account.
  2. Select ‘Send Money’: Click the ‘Send Money’ button on the dashboard to start a new transfer.
  3. Choose Currencies: Select the currency you are sending from (e.g., USD, GBP) and the currency you are converting to.
  4. Enter Amount: Input the amount you wish to send. Wise will automatically calculate the recipient’s amount after fees and conversion.

Recipient’s Details:

  1. Recipient’s Name: Ensure the recipient’s name matches the name on their bank account to avoid delays.
  2. IBAN and BIC/SWIFT Code: For transfers to Indonesia, you’ll need the recipient’s International Bank Account Number (IBAN) and Bank Identifier Code (BIC/SWIFT).
  3. Additional Information: In some cases, you may be asked for the recipient’s bank name and address.

Understanding the Fees and Exchange Rates

Transparent Fee Structure:

  1. Breakdown of Fees: Wise charges a small, transparent fee, typically a percentage of the sent amount. For example, sending $1,000 might incur a fee of $7.80.
  2. No Hidden Costs: All fees are disclosed upfront, and there are no hidden charges.

Real Exchange Rates:

  1. Mid-Market Rate: Wise uses the real mid-market exchange rate, the fairest possible rate. This is the rate you see on Google or Reuters.
  2. Rate Lock: Wise locks in the exchange rate for a short period to ensure you get the rate you were quoted.

4. Payment Methods

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  1. Bank Transfer: You can fund your transfer by transferring money from your bank account to Wise. This is often the cheapest option.
  2. Debit/Credit Card: Paying with a debit or credit card is faster but may incur higher fees compared to a bank transfer.
  3. Apple Pay/Google Pay: Available in certain regions, providing added convenience for mobile users.

Fees by Payment Method:

  1. Bank Transfer: Typically has lower fees but may take a bit longer.
  2. Debit/Credit Card: Higher fees but faster processing.
  3. Digital Wallets: Fees and processing times can vary.

5. Review and Confirm 

News and Updates illustrationReview Transfer Details:

  1. Summary: Before confirming the transfer, review the summary of your transaction, including the amount sent, fees, exchange rate, and the recipient’s amount.
  2. Estimated Delivery Time: Wise provides an estimated delivery time based on the chosen payment method and currencies involved. Transfers typically take 1-2 business days.

Confirm and Pay:

  1. Payment: Complete the payment using your chosen method.
  2. Security Measures: Wise employs robust security protocols to protect your transaction and personal information.

6. Tracking Your Transfer

Real-Time Tracking:

  1. Email Notifications: Wise sends notifications at each stage of the transfer process, from initiation to completion.
  2. Tracking Link: Use the unique tracking link provided to monitor the progress of your transfer in real time on the Wise website or app.

Support:

  1. Customer Support: Wise offers customer support via email and phone if you encounter any issues.
  2. Help Center: The Wise Help Center answers common questions and detailed guides.

7. Receiving Money in Indonesia

Illustration of a phone and bank with currency

 

Direct Bank Deposit:

  1. No Recipient Fees: The recipient in Indonesia will receive the full amount as Wise does not charge additional fees on receipt.
  2. Bank Processing: The money is deposited directly into the recipient’s bank account within 1-2 business days.
Wise logo

Wise as Our Featured Money Transfer Partner

Benefits: Wise offers a real exchange rate, commonly known as the mid-market rate, which is usually more favorable than traditional banks. The platform is designed for fast and transparent transactions, making it advantageous for those living abroad or traveling frequently.

Fees: Wise charges are low, transparent fees that are a small percentage of the transfer amount. These fees are clearly shown upfront.

Speed: Transfers in many popular currencies can be completed within one day, and Wise offers both same-day and instant transfers, depending on the country.

Security: The company is committed to high-security standards, including two-factor authentication (2FA) and encryption, to safeguard your funds and personal information.

Service Reach: Wise allows you to send, hold, and convert money in multiple currencies, offering account details in major currencies like GBP, EUR, USD, and AUD. This feature supports direct receipt of salaries, pension payments, and more.

Payment Options Offered by Wise

Bank Transfer

is generally the cheapest method for transfers. Although it may take longer than other methods, it provides the best value for your money.

Debit and Credit cards

offer a quicker transfer option. While debit cards are generally cheaper, credit cards might incur higher fees due to processing charges.

Apple Pay and Google Pay

These methods provide a convenient and fast way to fund transfers. However, when using a credit card through these services, be aware of possible additional charges by banks.

PISP

Allows direct bank transfers without leaving the Wise app, combining the cost-effectiveness of bank transfers with the convenience of direct debit.

SWIFT

While this method can fund transfers, it is usually more expensive and slower due to fees charged by intermediary banks.

Wise's approach to international money transfers significantly reduces costs and increases transparency, making it a great option for sending money overseas from Australia.

Key Stats about Wise

Wise (formerly TransferWise) is a leading player in the international money transfer industry, known for its transparency, low fees, and competitive exchange rates. Here are some key statistics that highlight Wise's growth, user base, and service efficiency:

User Base

  • Over 16 Million Customers: Wise has over 16 million personal and business customers worldwide​.
  • Active Users: As of the fiscal year 2023, Wise has 9.4 million active personal users and 520,000 active business customers.

Transaction Volume

  • Annual Transaction Volume: Wise processed money transfers worth £104.5 billion in the fiscal year 2023, representing a significant increase from previous years.
  • Monthly Transfers: On average, Wise processes over £6 billion in cross-border transactions each month​.

Fees and Exchange Rates

  • Low Fees: Wise charges an average fee of 0.6% for international payments, often among the best in comparisons, with savings of up to 6x for personal customers compared to traditional banks​.
  • Transparent Fees: All fees are disclosed upfront, with no hidden charges, making Wise a cost-effective option for international money transfers.

Growth and Expansion

  • IPO and Valuation: Wise went public via a direct listing on the London Stock Exchange in July 2021, achieving a valuation of around £8 billion.
  • Continuous Expansion: Wise continues to expand its services and reach, adding new currencies and improving its technology to enhance user experience.

Security and Regulation

  • Regulated Entity: Wise is regulated by financial authorities in multiple jurisdictions, including the Financial Conduct Authority (FCA) in the UK and the Financial Crimes Enforcement Network (FinCEN) in the USA​​.
  • Secure Transactions: Wise employs robust security measures, including two-factor authentication and encryption, to protect users' data and money.

Business Solutions

  • Wise for Business: Over 300,000 businesses use Wise to manage international payments, invoices, and multi-currency accounts.
  • Multi-Currency Account: Wise provides a multi-currency account, allowing users to manage money in over 50 currencies.

Customer Satisfaction

  • High Trustpilot Rating: Wise has a Trustpilot rating of 4.1 out of 5 stars based on over 197,000 reviews, reflecting high customer satisfaction.

Speed of Transfers

  • Fast Transfers: Over 49% of Wise transfers are instant, completed in less than 20 seconds, and 80% of transfers arrive within 24 hours.

Alternative Money Transfer Companies

While Wise stands out for its service, it's important to consider all available options to ensure you find the perfect match for your international money transfer needs. Each service offers unique benefits, fees, and features that might be better suited to your financial requirements. Here are some trusted alternatives that also provide excellent money transfer solutions.

Revolut Logo

Revolut

Benefits: Revolut offers the ability to send money internationally using the real exchange rate, similar to Wise. This service is notably cheaper than traditional bank transfers. Additionally, the platform supports buying, selling, and managing cryptocurrencies directly within the app.

Fees: Revolut provides free international money transfers to bank accounts in over 130 countries using the interbank exchange rate. There are no fees for exchanges and transfers in 24 currencies within the app. However, fees may apply for instant or very fast transfers, especially if you are not on a premium plan.

Speed: Regular transfers can take up to two working days, but Revolut also offers an option for turbo transfers, which can be completed within one working day for those needing quicker transactions.

Security: Revolut applies modern security measures, including the ability to lock/unlock your card via the app and customizable spending limits, enhancing the safety of transactions and personal data.

Differences to Wise: More of a subscription based service with different tiers so it allows you to get a more personalized experience.

torfx logo

TorFX

Benefits: TorFX is recognized for offering fee-free international money transfers, providing excellent exchange rates, and ensuring a customer-first approach. The service is particularly notable for its no-transfer fee policy and the use of competitive exchange rates, which can be beneficial for large transfers like property purchases or corporate transactions.

Fees: TorFX charges no transfer fees, distinguishing it from many competitors. This can result in significant savings, especially on large amounts.

Speed: TorFX offers fast and flexible currency transfers. Customers can manage their transactions 24/7 via an online platform or mobile app, allowing for on-the-go management and ensuring quick processing times.

Security: The company strongly emphasizes security, offering secure transactions through advanced technology and providing personal account managers who monitor the market and guide customers through the transfer process to ensure safety and efficiency.

OFX logo

OFX Money Transfer Services

Benefits: OFX offers competitive exchange rates close to the mid-market rate and does not charge transfer fees, making it a cost-effective option for international money transfers. The service supports over 50 currencies, providing extensive global coverage for personal and business transfers.

Fees: OFX doesn't charge transfer fees, which can lead to significant savings, especially on large transfers. However, it's important to note that while OFX doesn't charge a transfer fee, it adds a margin on top of the mid-market exchange rate.

Speed: OFX provides fast transfer options, allowing customers to execute transactions swiftly. The processing times can vary depending on the transfer method, but they generally strive to complete transfers within 1-4 business days.

Security: OFX is regulated by multiple financial authorities globally, including ASIC and FinCEN. It employs advanced security measures to protect user data and financial transactions. The platform is designed to monitor transactions for suspicious activities, enhancing the overall security of the service.

XE

Benefits: XE offers international money transfers to over 170 countries in 60 currencies. Known for its low fees, especially for amounts below $500, XE provides a cost-effective solution for sending money globally. The service also allows for setting custom rate alerts, which can be particularly useful for getting the best possible exchange rates.

Fees: XE charges a $3 fee for transfers below $500. There is no fee for transfers above this amount, making it more economical for larger amounts. It's important to note that while there are no fees for larger transfers, XE does add a margin to the exchange rates offered.

Speed: Transfer speeds with XE can vary, typically within minutes to up to four working days, depending on the destination and transfer method. For the fastest service, card payments are recommended as they are processed almost instantly.

Security: XE is well-regarded for its security measures. The service uses advanced technology to ensure the safety of its users' funds and personal information, providing a reliable and secure environment for international money transfers.

Western Union Money Transfer Services

Benefits: Western Union is known for its extensive global network, making sending money to over 200 countries and territories possible. It's particularly convenient for sending money for cash pickup, with the option to transfer directly to bank accounts or mobile wallets. This flexibility makes it ideal for urgent transfers, which can be processed within minutes, depending on the chosen service and payment method.

Fees: Western Union's fees vary depending on the transfer method, amount, and destination. While it allows sending money online, via mobile app, or in-person at one of their agent locations, the costs can differ. Fees are typically higher for instant or cash pickup transfers than standard bank transfers. It's also important to note that Western Union makes money from currency exchange by adding a margin to the exchange rate.

Speed: The speed of the transfer can range from minutes to a few days, depending on the service selected and the destination. Instant transfers are available for higher fees, and they are particularly useful in emergencies or when fast delivery is essential.

Security: Western Union employs robust security measures to protect transactions and personal data. These include encryption and fraud prevention systems that help secure customers' funds and personal information.

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by Content Manager
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