How to open a bank account in Bank Mandiri

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

November, 2022

Last contact

April, 2024

Last update

March, 2024

Indonesia’s largest bank with total assets of more than USD 110 billion;
the bank opens savings (deposit) and settlement accounts;
the bank opens accounts for individuals, Indonesian companies and branches of foreign companies;
Individuals have to make a deposit of IDR 15 000 000 (~ USD 1 000); deposits can only be made in cash (IDR and USD);
a visit to the bank branch is required to open an account;
VISA bank cards are issued;
you have to get a work visa or sponsor’s letter to open an account;
Internet Banking is in English;
there is an application to manage the account from a phone / tablet;
account opening time ~ 2 days

GSL rating

Beginning of cooperation

November, 2022

Last contact

April, 2024

Last update

March, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1998

History

The bank was formed in 1998 as a result of the merger of four banks: BBD, BDN, BankExim and Bapindo. The largest bank in Indonesia with total assets of more than USD 110 billion and in addition to Indonesia also serves international clients, having subsidiaries, branches and representative offices in London, Hong Kong, Singapore, Malaysia, Timor-Leste, Shanghai and the Cayman Islands

Personnel

There are English-speaking staff

Bank’s shareholders

The majority shareholder of the bank is the Government of Indonesia (60%)

Confidentiality

Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

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Minimum requirements

0

Minimum balance, €

No restrictions

Transactions permitted per month

0

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

When opening a personal account individuals need to make a deposit of IDR 15 000 000 (~ USD 1 000). Deposit can be made only in cash, in IDR and USD.

For accounts of legal entities there is no minimum balance

Transactions permitted per month

No restrictions on the number of transfers

Initial deposit of funds, €

Initial payment for individuals (personal account) - IDR 15 000 000 (~ USD 1 000)

Deadline for the initial deposit, month

When opening an account

Minimum turnover, €/year

No restrictions

How fast payments are executed

Payments - same day or next day

Tariffs and services

N/A

Outcoming transfer, €

N/A

Incoming transfer, €

N/A

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Distant access to the account

Internet Banking in English

Financial products

Bank Mandiri offers businesses and individuals throughout Indonesia a full range of banking and non-banking products and services

Credit/debit cards

VISA

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

A visit to the bank branch is required to open an account

Required

For an individual: original passport, TIN in the country of tax residency, Indonesian SIM card, proof of address of residence in Indonesia (hotel address can be provided), original sponsorship letter / document confirming permission to work in Indonesia / original certificate of filing for work permit.
To open an account, you must obtain a work visa or sponsorship letter.
For a legal entity registered in Indonesia: set of corporate documents, completed bank form for the company and owner, business plan.
For an individual (directors / shareholders / beneficiaries / attorneys): original passport, TIN in the country of tax residency, Indonesian SIM card, address of residence in Indonesia (hotel address can be provided), original sponsorship letter / document confirming work permit in Indonesia / original certificate of filing for work permit

Types of accounts

Savings; Current

Chances to open an account

Predictable

Business description

Moderately detailed: along with a description of the business, you must provide information about the sources of funds

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