USD business account in Indonesia: how companies hold and receive dollars
An Indonesian business holds US dollars in a foreign currency current account (giro valas) at an Indonesian bank, and Bank Indonesia requires export proceeds to enter the Indonesian financial system through a bank by the end of the third month after the export month. Natural resource exporters face stricter retention rules, which changed again in 2026. This guide covers the rules, the options, published bank fees, documents, stablecoins and where a Helm account fits.
- Bank Indonesia Regulation No. 17/3/PBI/2015 requires the rupiah for transactions in Indonesia but exempts international trade transactions and foreign currency deposits held in banks.
- Under Bank Indonesia's rules on export proceeds, exporters must bring proceeds into the Indonesian financial system through banks by the end of the third month after the month of the export customs notification.
- From 1 March 2025, Government Regulation No. 8 of 2025 requires non-oil and gas natural resource exporters to keep 100% of proceeds in a special account for at least 12 months, while oil and gas stays at 30% for 3 months.
- Government Regulation No. 2 of 2026 requires the natural resource special account to be at a state-owned bank and caps conversion to rupiah at 50% of the export value.
- Bank Mandiri publishes a USD 500 minimum opening deposit and minimum balance for its USD current account, with a USD 5 monthly administration fee.
- The Financial Services Authority (OJK) took over supervision of crypto-asset trading on 10 January 2025, and the Governor of Bank Indonesia has stated that crypto is not a legal means of payment in Indonesia.
How an Indonesian business can hold US dollars
Coal, palm oil and nickel exporters, furniture and garment makers, importers of machinery and raw materials, trading companies and digital agencies in Indonesia all handle US dollars. Indonesia allows companies to hold dollars, but it is strict about two things: export proceeds must come home through Indonesian banks, and payments within Indonesia must be in rupiah.
Bank Indonesia (BI) is the central bank and sets the rules on currency, export proceeds and import payments. The Financial Services Authority, Otoritas Jasa Keuangan (OJK), supervises banks and, since January 2025, crypto-asset trading. A company has four ways to hold dollars:
- A giro valas at an Indonesian bank. A giro valas is a foreign currency current account. Most large banks open them in US dollars and other currencies. This is where export proceeds arrive.
- A provider outside Indonesia that issues USD account details. Some providers accept Indonesian companies, but the export proceeds rules below still apply.
- An affiliate registered outside Indonesia. Groups that sell through a Singapore, Hong Kong or US trading company hold dollars in that company's account under its own country's rules.
- A US company. A group can form a US company, which then opens a US account in its own name.
For most Indonesian exporters, the giro valas is not one option among several: it is where the law sends the money. The other routes add flexibility for import payments, service income and group structures.
The rupiah rule: where dollars can and cannot be used
Bank Indonesia Regulation No. 17/3/PBI/2015 on the Mandatory Use of Rupiah, issued on 31 March 2015, requires every person and company to use rupiah for cash and non-cash transactions in Indonesia. The non-cash rules apply from 1 July 2015.
The regulation lists exceptions. The ones that matter to a trading company are international trade transactions, deposits held in banks in foreign currency, and international financing transactions. So an Indonesian company may hold dollars in a bank and pay a foreign supplier in dollars, but it may not invoice an Indonesian customer or pay an Indonesian supplier in dollars. For non-cash transactions, BI's sanctions include a written warning, a fine of 1% of the transaction value capped at Rp1 billion, and a ban from taking part in payment traffic.
| Transaction | Currency allowed | Basis |
|---|---|---|
| Selling goods to a buyer abroad | USD or other foreign currency | International trade exception |
| Paying a supplier abroad for imports | USD or other foreign currency | International trade exception |
| Holding a dollar balance in an Indonesian bank | USD | Foreign currency bank deposit exception |
| Invoicing or paying an Indonesian company | Rupiah | Mandatory use of rupiah |
| Listing prices for customers in Indonesia | Rupiah | Mandatory use of rupiah |
Source: Bank Indonesia Regulation No. 17/3/PBI/2015 on the Mandatory Use of Rupiah, as published on 29 October 2026.
Bank Indonesia rules on export proceeds and import payments
Export proceeds are called devisa hasil ekspor (DHE). Bank Indonesia's current rules on them are in BI Regulation No. 7 of 2023, as amended, and BI's published questions and answers on that regulation explain how they apply.
All exporters: bring proceeds in through a bank
Exporters must bring DHE into the Indonesian financial system by the end of the third month after the month of the export customs notification. The export customs notification, the PPE, is the customs document that records the export, its date and its value; for example, a PPE dated in August 2023 had a deadline of 30 November 2023. Non-natural resource exporters must bring the proceeds in through banks.
Under Bank Indonesia's 2019 regulation on export proceeds and import payments, banks may credit a telegraphic transfer of export proceeds only when the payment message carries the export information. That is why the buyer's payment reference matters: put the PPE number and invoice number on every invoice and ask the buyer to quote them.
Importers: report the payment
The 2019 regulation required import payments, devisa pembayaran impor (DPI), to be reported to BI by the end of the third month after the import notification month, for imports above USD 10,000 equivalent. BI's questions and answers on the 2023 regulation state that it made no change for importers. Your bank handles most of this when it sends the payment, as long as the transfer order includes the import information.
| Flow | Rule | Source |
|---|---|---|
| Export proceeds, all sectors | Into the Indonesian financial system by the end of the third month after the PPE month | BI Q&A on PBI No. 7 of 2023 |
| Export proceeds, non-natural resources | Through banks | BI Q&A on PBI No. 7 of 2023 |
| Export proceeds, natural resources at USD 250,000 or more per PPE | Through a special DHE SDA account | BI Q&A on PBI No. 7 of 2023 |
| Crediting a transfer of export proceeds | Payment message must carry the export information | PBI No. 21/14/PBI/2019 |
| Import payments above USD 10,000 | Reported to BI by the end of the third month after the import month | PBI No. 21/14/PBI/2019 |
Sources: Bank Indonesia, questions and answers on PBI No. 7 of 2023 (11 December 2023); Bank Indonesia, PBI No. 21/14/PBI/2019 on export proceeds and import payments, as published on 29 October 2026.
These rules mean a US buyer's payment for Indonesian goods should arrive at the exporter's Indonesian bank with the right references. Read how to receive USD from overseas buyers for the invoice fields to give buyers.
Natural resource exporters: the DHE SDA special account
Proceeds from natural resource exports, DHE SDA, follow a separate regime under Government Regulation No. 36 of 2023, amended in 2025 and twice in 2026. It covers mining, plantations, forestry and fisheries. A natural resource export with a value of USD 250,000 or more on its PPE must be paid into a special account, the Rekening Khusus DHE SDA.
| Rule | What it requires | Instrument |
|---|---|---|
| Threshold | Export value of USD 250,000 or more per PPE | PP No. 2 of 2026, Article 6(2) |
| Non-oil and gas retention | 100% of proceeds for at least 12 months, from 1 March 2025 | PP No. 8 of 2025 |
| Oil and gas retention | At least 30% for at least 3 months | PP No. 36 of 2023, kept by PP No. 8 of 2025 |
| Where the special account sits | A foreign exchange bank that is a state-owned bank | PP No. 2 of 2026, Article 6(1) |
| Conversion to rupiah | At most 50% of the export value on the PPE | PP No. 2 of 2026, Article 11A |
| Mining under bilateral trade agreements | At least 30% for at least 3 months, at any foreign exchange bank Bank Indonesia designates | PP No. 21 of 2026, Article 18A, from 1 June 2026 |
| Sanction | Suspension of export services by customs | PP No. 2 of 2026, Article 16 |
Sources: Government Regulation No. 2 of 2026 and No. 21 of 2026 (Ministry of Finance legal database); Ashurst summary of PP No. 8 of 2025; Bank Indonesia Q&A on PBI No. 7 of 2023, as published on 29 October 2026.
During retention, the funds may still be used for set purposes, including foreign currency taxes and state obligations, dividends in foreign currency, purchases of raw materials, auxiliary materials, capital goods or services in foreign currency, repayment of loans for capital goods and working capital, and conversion to rupiah within the 50% cap. PP No. 2 of 2026 also allows placement in foreign currency state bonds and sharia state securities. The Coordinating Minister for the Economy said on 5 May 2026 that the state-owned bank placement applies from 1 June 2026, as reported by Katadata. Confirm with your bank which version applies to each PPE date.
USD accounts at Indonesian banks: fees and documents
Indonesian banks publish their account terms in product information summaries. The figures below are taken from two banks' own pages for their US dollar current accounts.
| Item | Bank Mandiri giro (USD) | CIMB Niaga giro (USD) |
|---|---|---|
| Currencies offered | 15, including USD, SGD, EUR, CNY and JPY | 13, including USD, SGD, EUR, CNY and JPY |
| Minimum opening deposit | USD 500 | See the bank's summary |
| Minimum balance | USD 500 | See the bank's summary |
| Monthly administration fee | USD 5 | USD 5 |
| Fee if below minimum balance | USD 5 per month | See the bank's summary |
| Account closing fee | USD 10 | See the bank's summary |
Sources: Bank Mandiri, Giro product page; CIMB Niaga, RIPLAY Umum Giro (2026), as published on 29 October 2026.
To open a giro valas, a limited liability company (PT) provides documents that prove the company exists, who manages it and who owns it.
| Document | Why it is requested |
|---|---|
| Deed of establishment and amendments, with the deed naming current management | Proves the company exists and who runs it |
| Ministry of Law decree approving the company | Confirms the company's legal status |
| Articles of association | Shows management and ownership structure |
| Business Identification Number (NIB) | The company's business license number |
| Corporate tax number (NPWP) | Tax identification |
| ID cards of directors, commissioners and any authorized representatives | Identity checks; passports for non-Indonesian citizens |
| Account application and signature card | Sets the terms and specimen signatures |
Sources: Bank Mandiri, Giro product page; CIMB Niaga, RIPLAY Umum Giro (2026), as published on 29 October 2026.
A natural resource exporter opening a DHE SDA special account also needs proof of export and a related statement, according to BI's questions and answers.
Foreign providers and the US company route
The table records what each provider's own page says about Indonesia. It is not a ranking, and lists change. Whatever account you use, the export proceeds rules above still require goods export proceeds to reach an Indonesian bank by the deadline.
| Provider | What its own page says about Indonesia | Point to check |
|---|---|---|
| Airwallex | Indonesia is an eligible country of business registration, onboarded by Airwallex's Hong Kong entity | Which account details the Hong Kong entity issues |
| Aspire | Indonesia is listed as a supported country of incorporation | Whether USD details are issued to Indonesian companies |
| Wise | Indonesia is not on Wise's list of countries where customers can hold money | Not available for holding balances |
| Payoneer | States it serves 190+ countries and territories; Indonesia is not named on its Receive Payments page | Ask Payoneer directly |
Sources: Airwallex, eligible countries and territories for business registration; Aspire, "What countries does Aspire support"; Wise, "Where do I need to live to hold money with Wise"; Payoneer, Receive Payments page, as published on 29 October 2026.
The US company route. A US company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that international applicants may call 267-941-1099 or fax the form to 304-707-9471 from outside the US, and that only international applicants can receive an EIN by telephone. A US company has its own US tax filings, so take Indonesian and US tax advice first.
The options compared
| Point | Giro valas in Indonesia | Provider with USD details | Affiliate outside Indonesia | US company account |
|---|---|---|---|---|
| Account holder | Your Indonesian company | Your Indonesian company | Your foreign affiliate | A separate US company |
| Goods export proceeds | Received here, with export references | Must still reach an Indonesian bank by the BI deadline | Affiliate pays the Indonesian exporter, which receives in Indonesia | US company pays the Indonesian exporter |
| How a US buyer pays | SWIFT wire | ACH or wire, if US routing details are issued | ACH or wire, if the affiliate has US details | ACH or wire |
| Paying foreign suppliers in USD | Yes, international trade exception | Yes | Yes | Yes |
| Main limit | Inbound SWIFT fees, monthly fees and minimum balances | Country lists vary; does not replace the Indonesian bank for DHE | Cost of a second company and tax rules | Cost of a second company and US filings |
Source: Helm Editorial Team, from Bank Indonesia regulations and providers' published pages, as published on 29 October 2026.
A US buyer paying an Indonesian bank sends a SWIFT wire, usually through a correspondent bank in New York. Our guide to SWIFT, ACH and Fedwire explains why a wire to Jakarta costs more and takes longer than an ACH payment to a US routing number.
Where USDC and USDT stand in Indonesia
USDC and USDT are stablecoins: digital tokens designed to hold a value of one US dollar each. Indonesia treats crypto assets as digital financial assets that may be traded under supervision, not as a means of payment.
On 25 May 2023, the Governor of Bank Indonesia, Perry Warjiyo, stated that under the Bank Indonesia Law crypto is not a legal means of payment in Indonesia and that the only legal payment instrument is the rupiah, as reported by Bisnis.com. OJK Regulation No. 27 of 2024 on trading in digital financial assets, including crypto assets, took effect on 10 January 2025, when supervision moved to the OJK from the commodity futures regulator, Bappebti.
| Authority | Instrument or statement | What it says |
|---|---|---|
| Bank Indonesia | Governor's statement, 25 May 2023 | Crypto is not a legal means of payment; the rupiah is the only legal payment instrument |
| Bank Indonesia | PBI No. 17/3/PBI/2015 | Rupiah is mandatory for transactions in Indonesia |
| OJK | POJK No. 27 of 2024, effective 10 January 2025 | Crypto assets are digital financial assets traded under OJK supervision |
| OJK | POJK No. 27 of 2024, exchange licensing | Exchanges need an OJK license, minimum paid-up capital of IDR 1 trillion and foreign ownership of at most 40% |
Sources: Bisnis.com report of 25 May 2023; Bank Indonesia Regulation No. 17/3/PBI/2015; Conventus Law summary of POJK No. 27 of 2024, as published on 29 October 2026.
An Indonesian company paid by a foreign buyer in USDC or USDT should note that the export proceeds rules expect proceeds to arrive through Indonesian banks. Take advice before accepting stablecoins for goods exports. Read more about digital dollars at Helm.
How a Helm USD account fits
Helm works with companies registered in Indonesia. Helm is a financial technology company, not a bank; accounts are held with regulated partner institutions. A Helm account gives a company USD account details in its own name: a routing and account number that receives ACH, Fedwire and SWIFT. EUR and GBP details are also issued in the company's own name.
A Helm account sits outside Indonesia, so it does not replace the Indonesian bank that receives goods export proceeds with their export references. It fits these flows:
- Paying foreign suppliers. An importer pays suppliers abroad by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- A trading affiliate outside Indonesia that collects from US buyers in USD and pays its Indonesian suppliers.
- Foreign buyers of Indonesian goods that pay Indonesian suppliers in USD from their own account.
Collections from buyers abroad are held in USD or converted, and USDC and USDT can be received, sent and converted to USD inside the account. A named account manager answers review questions in writing within one business day, and trade finance is arranged case by case. Before routing any export payment through an account abroad, confirm with your Indonesian bank how it must arrive to count as DHE. Pricing is agreed with each business before the account opens; see contact Helm. For neighboring markets, see our guides for the Philippines and Vietnam.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can an Indonesian company open a USD account?
Yes. Indonesian banks open foreign currency current accounts, called giro valas, in US dollars for companies. Bank Mandiri, for example, publishes a USD 500 minimum opening deposit and a USD 5 monthly administration fee for its USD giro.
Can Indonesian companies pay each other in US dollars?
Generally no. Bank Indonesia Regulation No. 17/3/PBI/2015 requires rupiah for cash and non-cash transactions in Indonesia. International trade transactions and foreign currency bank deposits are exempt, so a company can hold dollars and pay foreign suppliers in dollars.
When must Indonesian exporters bring export proceeds home?
By the end of the third month after the month of the export customs notification (PPE), according to Bank Indonesia's questions and answers on PBI No. 7 of 2023. For a PPE dated in August, the deadline is 30 November. Non-natural resource exporters must bring the proceeds in through banks.
What is the DHE SDA rule?
DHE SDA is the regime for export proceeds from natural resources under Government Regulation No. 36 of 2023, as amended. Since 1 March 2025, non-oil and gas exporters must keep 100% of proceeds from exports of USD 250,000 or more per PPE in a special account for at least 12 months, while oil and gas exporters keep at least 30% for 3 months.
What changed for natural resource exporters in 2026?
Government Regulation No. 2 of 2026 requires the special account to be at a state-owned foreign exchange bank and caps conversion to rupiah at 50% of the export value. Government Regulation No. 21 of 2026, in force from 1 June 2026, lets mining exports under bilateral trade agreements keep at least 30% for 3 months at any foreign exchange bank Bank Indonesia designates.
Which foreign providers accept businesses registered in Indonesia?
On their own published pages, Airwallex lists Indonesia as an eligible country of business registration onboarded by its Hong Kong entity, and Aspire lists Indonesia as a supported country of incorporation. Wise does not list Indonesia among countries where customers can hold money.
Is USDT legal in Indonesia?
Crypto assets may be traded in Indonesia under OJK supervision, which began on 10 January 2025 under POJK No. 27 of 2024. They are not a legal means of payment: the Governor of Bank Indonesia stated in May 2023 that the rupiah is the only legal payment instrument.
What documents does an Indonesian PT need to open a USD account?
Banks ask for the deed of establishment and amendments, the Ministry of Law decree, the articles of association, the Business Identification Number (NIB), the corporate tax number (NPWP) and ID cards of directors, commissioners and authorized representatives. Bank Mandiri and CIMB Niaga publish these lists.
Do Indonesian importers have to report payments to suppliers abroad?
Yes, for larger imports. Bank Indonesia's 2019 regulation required import payments above USD 10,000 equivalent to be reported by the end of the third month after the import month, and BI's 2023 questions and answers state the newer rules made no change for importers. Banks process the transfer when the order includes the import information.
References
- Bank Indonesia: Regulation No. 17/3/PBI/2015 on the Mandatory Use of Rupiah
- Bank Indonesia: Questions and answers on PBI No. 7 of 2023 on export proceeds and import payments
- Bank Indonesia: Regulation No. 21/14/PBI/2019 on export proceeds and import payments
- Ministry of Finance JDIH: Government Regulation No. 2 of 2026 (second amendment to PP No. 36 of 2023)
- Ministry of Finance JDIH: Government Regulation No. 21 of 2026 (third amendment to PP No. 36 of 2023)
- Ashurst: Recent developments in Indonesia's natural resources export proceeds retention regime (PP No. 8 of 2025)
- Bank Mandiri: Giro (current account) product page
- Airwallex: eligible countries and territories for business registration
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.