Job Discussion Forums

[Margaret]

I am at the start of a year's teaching contract here in Indonesia. I have never worked abroad before.

Does anyone have advice about the best (cheapest) way to move any of the rupiahs I may save in Indonesia to my bank accounts in the UK.

I know many will think it is very difficult to save much on a teacher's salary here, then with the conversions to other currencies what's the point... Well saving is my nature...

I have heard of the possibility of getting a dollar account here, but is there any point if my other cash is all in UK pounds? If I do have a dollar account though does that mean I can demand US dollars when I make withdrawals?

Also are there any rules about the amount of money I can send out of the country or take with me at the end of my contract here?



Thanks

[Vertumnus]

I am also interested in such info.

As far as I know, you can withdraw any currency from a dollar or rupiah account (subject to the current exchange rate if it a different currency from the account). If you have a $ account, you can easily withdraw dollars, and you can get rupiahs at any time from rupiah accounts.

I've been told that some international banks (perhaps Citibank) can be used for international banking of the sort you mentioned, and there are also Internet banks that charge nothing for such transactions, but I don't have further info.

Can anyone help?

-D

[laughing_magpie06]

I sent money to Australia during my last six months there. It was the first time in 3.5 years I was earning reasonable money and was by that stage debt free. Get a routing number from your home bank and then change the rupiah you need to send into your home currency. The money should be there 24 hours later. Keep a close eye on it because the Indonesian staff only need to mess up a number or two and it will sit for days in a middle bank somewhere. This is the cheapest and best way to send money home. Western Union etc charge outrageous fees but by banking only a standard set fee plus whatever you lose on the exchange.

[Yr of Living Dangerously]

There are some good tips relevant to your situation to your situation here:
http://forums.eslcafe.com/job/viewtopic.php?t=56094

Some of the "international" banks in Indonesia like Commonwealth Bank, HSBC offer a GBP account.

In the unlikely event that you can save Rp25 000 000, the CommPro account at CB lets you have one free international transfer per month.
http://www.commbank.co.id/upublic/mod_home/default_content.aspx?code=sa_commpro

Is there a company that specialises in sending money between UK and Indonesia? For Australians, there is Kangaroo Service, which charges Rp20 000 (from IND to AUS) or $A10 (from AUS to IND).

[Fishy]

BCA charge 50,000rp for an international transfer and it takes about 10 minutes to sort each time. They transfer the rupiah into � first so you know exactly what is being sent.

[missjo]

I've transfered money to the UK several times using BCA and never had a problem. Do check with the receiving bank though to see if they charge at their end.