financialtreat – will explain about 7 Money Transfer to Indonesia Using the Most Secure Application which you will get in the following article. let’s look at this article carefully!
How to transfer money to Indonesia is mostly unknown. Though money transfers between countries are not foreign in the world of finance. This is because many of us have never done so.
Currently, there are many money transfer services or remittances that serve transfers from abroad to domestic, which serve remittances from several countries such as Malaysia, Hong Kong, the United States (US), Singapore, Jordan, South Korea, Qatar and others.
7 Money Transfer to Indonesia Using the Most Secure Application
For those of you who are abroad and want to send money to Indonesia, there is no need to be confused, you can do it by following the how-to tutorial transfer money to Indonesia below:
To send money from abroad to Indonesia or vice versa, you can use an application called Wise. Wise is a company from the United Kingdom that provides money transfer services between countries. Today Wise has a subscriber count of more than 4 million people worldwide.
Wise provides the convenience of transacting or sending money because it can be done through the website directly or applications on IOS and Android smartphones. You can send money from these countries or currencies to Rupiah:
- British Pound (GBP)
- Indian Rupee (INR)
- Singapore Dollar (SGD)
- US Dollar (USD)
- Australian Dollar (AUD)
- Hong Kong Dollar (HKD)
- New Zealand Dollar (NZD)
- Japanese Yen (JPY)
- Malaysian ringgit (MYR)
- UAE dirham (AED)
And much more, just check other currencies and exchange rates at Wise directly!
2. Western Union
To send money from abroad to Indonesia, you can also use a service called Western Union. In our opinion, this method is arguably the most old school but quite popular – because you have to come to the agent’s office directly. Well, fortunately Western Union has developed a digital/electronic transfer service, yes, although it is only available in certain countries. Benefits of using Western Union:
- Simple, the sender / recipient does not have to have a bank account because they can come directly to the agent’s office to make transactions
- Agent offices are widely spread throughout the world, for example if in Indonesia there are post offices / minimarkets / banks
- There is no limit to the number of remittances
How to send money from abroad to Indonesia with Western Union:
- Come to the agent’s office with your identity
- Fill in the data in the money transfer form
- Verification process by agent
- You will be given proof of delivery or what is often called MTCN (Money Transfer Control Number)
- The recipient can take the money through the agent’s office by mentioning MTCN
- Western Union is also more complicated, because the recipient must come to a place, for example the post office to pick up the money sent
Maybe many of you already know PayPal. PayPal is indeed very popular, especially for online buying and selling transactions. Indeed, this application is easy to use. All you have to do is enter the e-mail address of your account PayPal you can transfer money.
It’s just that to create a PayPal account, you must provide credit card information. The transaction fee is quite high (5.4% + USD 0.3) to withdraw money from a PayPal account to a Bank account in Indonesia, and also the exchange rate in our opinion is quite expensive.
Topremit is a company that provides money transfer services from Indonesia to abroad online. Previously, in 2009, Topremit started its business as a conventional or offline money transfer service provider.
Due to the needs of the community and the development of the times, in the end Topremit decided to go online so that it became the first online-based money transfer service provider abroad in Indonesia.Currently Topremit only serves remittances from abroad in Singapore.
- Flat rate transaction fees
- Fast transfer process
- Have a license from Bank Indonesia
- Guarantees a 100% refund if the transaction we make fails
- Customer Support fast response
Of course, this speed varies depending on the destination country.
For those of you who have the need to send money to Hong Kong, Malaysia, Singapore, Thailand, the United Kingdom, or to countries in Europe, the money you send can reach the recipient’s account in just minutes. This transfer fee varies depending on the destination country as well.
The transfer fee is flat, which means you only need to pay the same amount regardless of the amount of money you want to send. Just follow 4 easy steps through their application or website which you can review further here. Amount to be transferred using the Topremit app:
- Exchange rate: 11,400.53
- Transaction fee: 100,000
- Transaction time: 5 minutes
- Amount payable: 11,500,530
Flip is a financial application with the most popular feature, namely transfers between Indonesian banks without admin fees. In addition, this application can also be used for credit purchases, electricity/water/BPJS bill payments. One of the features provided is a money transfer service from Indonesia to abroad called Flip Globe. It’s just that, the service can only be used for transfers from Indonesia only, not from abroad.
- Affordable transfer fees – flat rate
- Often give promos
- User friendly interface
- Other financial features available
- For some countries like US requires a 2-day bank delivery time.
- Amount to be transferred by using the Flip app:
- Exchange rate: 11,373.69
- Transaction fee: 55,000
- Transaction duration: 5 minutes
- Amount to be paid: 11,428,690
7. Standalone Livin App
Recently, this application from Bank Mandiri provides a foreign currency transfer feature to send Rupiah to USD, GBP, EUR, SGD, and AUD currencies. Indeed, the coverage of the country is not as much as that of the applications mentioned above. Maybe because it’s still new, there is another free transaction fee promo. Amount to be transferred using the Livin Mandiri application:
- Exchange rate: 11,353.40
- Commission and transaction fees (promo): 61,294
- Transaction time: Within minutes
- Amount payable: 11,414,694
- Standalone Remittance
Read more Wealth management:
From some of the ways mentioned above, you can use the Wise, Western Union, and PayPal applications if you want to send money from abroad to Indonesia or vice versa. While the Topremit, Flip, and Transfez applications can only be used to send money from Indonesia abroad.
Based on the small research we made, the lowest rate is held by Wise while the lowest transaction fee is won by Flip. However, because currently Livin Mandiri has a promo, so overall, the most affordable remittances abroad are won by the Livin Mandiri application.
Here is the ranking of the cheapest with an example of money transfer from Indonesia to Singapore:
- Livin Independent – 11,414,694
- Flip – 11,428,690
- Wise – 11,457,000
- Transfez – 11,488,610
- Topremit – 11,500,530
Maybe it doesn’t feel too much if you transfer once, but if you regularly make transfers, you should choose the most economical one.
If we are used to using Wise because the rate is the cheapest and also more flexible because the country coverage is quite wide as well. You can try to compare yourself because each application has its own advantages. If you have other ways, you can also recommend it!