The Best Banks For Freelancers in Indonesia

Welcome to your essential guide to stress-free banking in Indonesia, tailor-made for freelancers. As a digital nomad or independent professional, your unique financial needs require a banking partner that can keep pace.

Let’s explore together the best banks for freelancers in Indonesia, offering top-tier services from seamless international transactions to top-notch online banking.

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Why Should You Open a Business Bank as a Freelancer?

To Separate Your Business From Personal Finances

To lead a business, you need to be organized. You will have to create a proper system to do so.

A business bank account will ensure that your personal transactions are kept separate. This account will help you keep track of your freelancing revenue, profit, and expenses.

Filing Taxes Becomes Easier

Filing taxes can be stressful when you’re a freelancer. You have to go through hundreds of payments which could be made in many ways, either directly deposited or through Paypal.

Tracking down every payment is a difficult job. It would help if you kept your business and personal finances separate, and keeping a business bank account will help you with that.

In addition to this, a business bank account can even help you file your taxes. These banks provide you with bank statements through which you can keep track of your work income each month.

If your taxes aren’t filed correctly, the IRS can penalize you.

More Flexibility Provided

Freelancers make and receive a lot of transactions throughout the month. You can collect receipts, write checks, and accept credit card payments with a business account.

Having this kind of transaction facility is why people choose to become a freelancer in the first place.

A business account has fewer restrictions than a personal account. A personal account has a limited number of transactions available, along with limits on the size of your transaction, which shall be better for a freelancer.

To Show Professionalism

An essential part of freelancing is looking and appearing professional to your clients and other potentials.

A business account can help with this. Writing a check from your personal account would not look legitimate. However, sending and receiving payments from a business account would.

This also helps with building a connection with your clients. Having a business account would make them think you’re in it for the long haul and, thus, would consider working with you again.

Therefore, you’ll need a bank to manage all these operations safely. However, private banks tend to have horrendous fees and slow non-digital services, which can be frustrating. No worries, we’ve got you!

Here Are the Best Banks for You in Indonesia:

Jenius

Jenius is built on the Fusion Equation core banking system and leverages Fusion digital channels to ensure a consistent and connected customer experience.

It gives customers a more engaging and convenient way to bank. According to Statista, in 2021, Jenius digital bank reached 3.66 million. It was also the first bank to allow account opening from an app in Indonesia.

Jenius offers a business account as an additional account for Jenius users who have a business and need to manage personal and business separately, all from one application.

To have a business account, you must have a personal account first since the data from the personal account will be used to make a business account.

The business account has a non-physical m-Card for easy online transactions without a credit card for all Visa merchants. The m-Card will automatically be connected with the Active Balance of the business account.

Debit transactions in e-commerce with the virtual m-Card from a business account will not be charged with any fee. In addition to this, you can also adjust the maximum transaction limit in your business account.

Get started with Jenius 🔥

GoPay

GoPay is the leading digital payment platform in Indonesia. It is part of Gojek’s super app offering. It allows customers the accessibility to conduct transactions directly from their mobile devices. GoPay is accepted by over 900,000 merchants across Indonesia.

There are many benefits of using GoPay, such as:

Multi-Layered data protection
⦁ International standard security accreditation
One device login
⦁ Money back guarantee
24/7 Customer service
⦁ Latest technology for security

GoPay is a versatile digital wallet that does everything, from fast transactions for all Gojek services and hundreds of business partners to sending or receiving money quickly. Everything is free to do on GoPay.

Additionally, GoPay is a secure, trusted platform with a certified license from the Bank of Indonesia.

Get started with GoPay 🔥

DANA

DANA

DANA is a digital wallet in Indonesia that allows cashless and cardless spending. It is a faster, easier, and more secure way of paying for all online and offline transactions.

It is a one-stop solution for all your needs, from transferring money and purchasing in DANA merchants to topping up mobile credit and paying your bills.

You can manage all your business transactions in one app. It has some enticing features, such as:

⦁ Accept payment at any time
More flexible money transfer
⦁ Boost your business profits

3000+ merchants trust DANA.

Get started with DANA 🔥

LinkAja


LinkAja is one of Indonesia’s most significant digital payment methods. It was established in 2019 by a group of stateowned enterprises.

It was initially designed to broaden financial inclusion by not requiring customers to have a bank account in a country where 48% of the population is unbanked.

You can load funds to your LinkAja Wallet via bank transfer, cash deposit at ATMs, etc. Payments are completed by entering their phone number, PIN, and verification code.

E-Wallets are now becoming the most popular payment method amongst Indonesians, with 39% opting to use one while paying for services and goods.

It also consists of more than 64 million customers in Indonesia.

Get started with LinkAja 🔥

Aspire

Aspire

Aspire is an all-in-one finance operating system for businesses in Indonesia. It helps companies pay, manage and earn more innovatively. 10,000+ leading businesses trust Aspire.

Aspire allows you to manage multiple businesses with access to multi-currency accounts and cards. It is designed for businesses of all sizes, such as Early & growth-stage startups, digital businesses, and borderless businesses.

Through Aspire business account, you can:

Send and receive money in multiple currencies
⦁ Make fast and transparent international payments
⦁ Pay like a local with free domestic transfers
⦁ Get multi-currency cards with unlimited cash back
⦁ Centralize your payables and receivables
⦁ Close your books 2x faster with native accounting integrations

Aspire is initially headquartered in Singapore with teams in Indonesia and Vietnam and is backed by leading venture capital firms and private investors.

Get started with Aspire 🔥

DBS

DBS is a leading financial services group in Asia with 19 markets. It’s known for its global leadership and has been named ‘World’s Best Bank’ by Euromoney, etc. This bank is at the forefront of leveraging digital technology to shape the future of banking.

This bank provides a full range of customer services, SME, and corporate banking. DBS is committed to building lasting relationships with customers and positively impacting communities.

DBS offers a Business Digital Account, which is simple to maintain and simple to transact. It contains many features and benefits, such as:

Internet and Mobile banking fee is free
⦁ Low initial deposit (with just IDR 2,000,000)
Unlimited free digital tokens

Get started with DBS 🔥

Jago

Jago is a financial app that combines banking services with the power of the digital ecosystem. It’s built to help millions of Indonesians with money management. Jago is positioned to become Indonesia’s pioneering and leading life-centric finance solution.

Jago is known to be simple, collaborative, and innovative. It offers Jago pockets, which helps you separate business finances and personal finances.

You can create up to 40 pockets. Each pocket can be personalized according to your needs, and you have the accessibility to change its name, color, and visual.

Apart from the Jago pocket, you can make payments more accessible with the Jago Visa Debit Card. With Jago, you can have both physical and digital debit cards.

Get started with Bank Jago 🔥

MotionBank

MotionBanking is a digital banking app by MNC Bank to bring banking services closer and to make it easier for their customers.

It is designed as an integrated banking app that offers complete services from saving, transfers, and payments to credit cards, along with much more!

It is branded MotionPay, which will embed all its functions (QRIS, e-money, e-wallet, and digital remittance) into the MotionBanking Application and presents you with a wholly integrated digital financial solution.

The e-wallet, e-money, and digital transfer application provides fast and easy cashless smartphone transactions. You can also pay bills, top-up credit cards, and transact both online and online.

MotionBank provides you with many benefits:

⦁ Easy investments. (With only IDR 200,000, you can start investing)
⦁ Open a savings account
⦁ Transactions through smartphones (with saving features, credit cards, e-wallets, etc.)

Get started with MotionBank 🔥

Bank Danamon

Bank Danamon is a network of 846 conventional branches with more than 60,000 networks of Danamon ATMs etc.

Apart from the physical network, Danamon services can also be accessed through Danamon Online Banking, mobile banking through the D-Bank and D-Card applications, SMS Banking, and phone banking services via Hello Danamon.

It consists of a variety of financial products and services. It serves customers’ needs from various segments, including Consumer Banking, Small and Medium Enterprises (SMEs), WholeSale (Corporate and Commercial), etc.

In July 2020, it launched Danamon Optimal segmentation to help the upward mobile segment manage finances.

It consists of products and services according to the needs of these individuals, from saving and insurance loans equipped with all-digital services for ease of transactions.

As one of Indonesia’s most prominent national private banks, Bank Danamon provides Danamon Cash Management, an integrated banking solution designed to help customers manage cash flows.

Using Danamon Cash Management, every strategic effort can be focused on your business.

Get started with Bank Danamon 🔥

Wokee by Bank KB Bukopin

Wokee is a digital savings bank owned by Bank Bukopin. It provides a complete solution to meet all your financial needs anytime and anywhere.

Wokee provides you with the following:

Free administration fee
No initial deposit
No minimum balance
⦁ Account opening can be done anywhere and anything
⦁ Cash withdrawals can be made without using a card

You can easily register an account by downloading the Wokee app.

Get started with Wokee 🔥

Aladdin Bank

Aladin Bank provides and facilitates access to digital-based Sharia banking services to serve all levels of society and establish a collaboration with the industry. It prioritizes safety and comfort for its customers.

It maximizes the use of information technology to develop funding products, financing, and other banking services such as fund transfers, payments, purchases, and others.

It’s built on the critical values of support, build, and growth.

PT Bank Aladin Syariah is a banking institution registered and supervised by the Financial Services Authority and is a participant of the Indonesian Deposit Insurance Corporation (LPS).

It provides deposits for your company’s business with competitive profit sharing and a sense of calm with Sharia principles.

The advantages of business-style deposits are:

Free Administration fee
⦁ Light initial deposit
⦁ Profit sharing according to Sharia principles
⦁ Access to monthly account statements

Get started with Bank Aladin 🔥

UOB

UOB is Indonesia’s service network which consists of 41 main branch offices, 107 sub-branches, and 150 ATMs spread across 45 cities in 18 provinces in Indonesia.

Its banking services can be accessed through regional ATM networks, Prima and Bersama ATMs, and Visa networks.

UOB offers you an e-Business Account, which you can open with zero fees. With the UOB SME app, you can view your account balance, the past six months cash inflow, and outflow all in one dashboard.

You can open a UOB business account on the UOB SME app or online.

UOB Business account offers you the following;

Free FAST transactions
Free GIRO transactions
12 months fall below the fee waiver
Free monthly subs
⦁ The annual fee is waived during the account opening year
⦁ Low minimum average daily balance

Get started with UOB 🔥

Conclusion

Understanding the banking landscape in Indonesia as a freelancer is no longer a daunting task, thanks to our handy guide.

Embrace the freedom of your professional path with the right bank at your side, making your financial journey smooth sailing. So, go ahead, pick the best fit, and make the most of your freelance life in Indonesia.

Best of luck!

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