Global Accounts
Open an Indonesian rupiah business account from Singapore
Open an Indonesian rupiah business account online from Singapore with Airwallex. Your account will come with local Indonesian bank and branch codes and a dedicated account number. Use your IDR account to receive IDR.
Hassle-free currency accounts with local bank details
Skip the lines and excessive paperwork usually involved in setting up a multi-currency business account. Open multi-currency accounts online and collect payments from your global customers in their preferred currency. Spend your proceeds later in the same currency, eliminating unnecessary conversion fees.
Save on unnecessary bank charges
There are no account opening fees, monthly maintenance charges, or minimum transaction requirements.
Streamline your global cash management
Convert balances to different currencies in just a few clicks and review your global transactions in a single view.
Know your funds are safe and secure
Relax knowing that your money is secure and protected with end-to-end encryption and bank-level security.
Avoid costly conversion fees
Eliminate unnecessary conversion fees by receiving payments in the same currencies that your customers pay in.
Global Accounts
How to open an Indonesian rupiah business account from Singapore?
Businesses can open an IDR account from Singapore easily with Airwallex. Simply sign up online and, once onboarded, you can open multiple domestic and foreign currency accounts in minutes. Your Indonesian rupiah account will come with local bank account details, making it easy for you to receive payments in IDR which you can either convert at the interbank exchange rate. Avoid bank queues and endless paperwork, and open your IDR account online with Airwallex today.
Your IDR account
How will your IDR account work from Singapore?
Get your IDR account details
Open your IDR account online and receive a local Indonesian rupiah account number and branch code. Share these details with your clients and customers in Indonesia and start receiving payments in IDR via local bank networks. You can also link your IDR account to eCommerce platforms such as Amazon and Shopify.
Convert currencies at market-beating rates
Airwallex gives you access to the interbank exchange rate (sometimes known as the mid-market rate). That means that if you need to convert currencies, you’ll enjoy market-leading foreign exchange rates no matter the transaction size. You can also hedge against currency exchange risk by only converting currencies when the exchange rate is favourable.
Global Accounts
Who is the Airwallex global Business Account for?
The Airwallex global Business Account is ideal for companies that operate across borders. Including companies that invoice overseas clients, sell globally on platforms such as Amazon and Shopify, and work with international suppliers. Our platform allows businesses to centralise their financial operations in one place, even when managing multiple global entities. From expense management to bill payments, payment solutions, and FX, Airwallex has you covered. We make global money management simple and cost-effective for businesses of all shapes and sizes - that’s why we’re trusted by over 150,000 businesses worldwide.
FX & Transfers
End-to-end global money management from Singapore
When a payment gets sent to one of your Global Accounts, those funds are instantly visible to you in your Airwallex Account. Easily convert currencies at interbank rates and use Airwallex to make fast, cost-effective domestic and international transfers.
Frequently asked questions
Is it possible to open an Indonesian rupiah account online from Singapore?
Yes, it is possible to open an Indonesian rupiah account online from Singapore with Airwallex. Simply sign up via our website and, once onboarded, you can open multiple domestic and foreign currency accounts online in minutes. These accounts function as local currency accounts in your name that come with local bank and branch codes and dedicated account numbers. They make it easy to receive funds domestically and internationally.
What documents do I need to open an Indonesian rupiah account as a non-resident business?
The key documents required to open an Airwallex account are similar across regions and will enable you to open an IDR account. We typically ask for the certificate of incorporation or equivalent document, as well as information on the business, its activities and anticipated transaction volumes. We are also required to collect details and IDs for certain individuals - this includes any beneficial owners but can extend to directors and authorised signatories signing up for the account. Non-resident businesses may be asked to provide proof of address for their operations, which can be established through utility bills, contracts or other correspondence.
What are the advantages of opening an IDR account as Singapore resident?
Opening an Indonesian rupiah account allows non-resident businesses to conduct transactions and manage funds in IDR, eliminating the need for currency conversion along with the associated costs and the risks posed by currency fluctuation. Having an IDR account can streamline financial dealings with Indonesian-based entities and those that operate in IDR, facilitating smoother transactions and payments. For example, for businesses that receive income from Indonesian sources, an IDR account simplifies the process and expedites the receipt of payments.
What other popular currencies can I open a business account from Singapore
See below for a range of other currency accounts you can open from Singapore: