Fact checked
When you’re wanting to send money to family or friends in Indonesia, it’s important to be on the lookout for cheap exchange rates, low fees and a simple transfer process. Compare a range of international money transfer providers here with Savvy to help you find the best exchange rates and lowest fees available. Consider a range of options with us before getting your international money transfer underway today.
OFX |
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Special Offer: 5 fee free transfers (saving you up to $75 in fees) + preferential rates for international money transfersMore details |
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Enjoy $40 bonus on your first money transfers of $250 & above! Use code*: SAVVY20X2 (Minimum transfer of AUD 250 Valid till 31st August 2023)More details |
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Xe |
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most moneyMore details |
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Western Union Money Transfer |
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Send money to over 200 countries and territories across the world onlineMore details |
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Wise Money Transfer |
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Send money cheaper and easier with Wise with no hidden fees.More details |
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TorFX |
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Excellent exchange rates with no transfer fees. Trusted by over 325,000 customers. Awarded Canstar’s 5 star rating 2018-2021.More details |
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Currencyfair |
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Send money overseas at better exchange rates, with no hidden fees.More details |
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Remitly |
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countriesMore details |
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Revolut |
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Fast and easy, with super competitive rates across all major currencies. Join 25+ million customers saving on global transfers.More details |
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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.
If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.
There are many ways to send money to Indonesia. Your options include:
Because money transfer providers are specialists at sending money across international borders, they offer the quickest and cheapest option to send money to Indonesia. Compare transfer providers with Savvy, find the one which fits your needs and start your transfer right away.
The main areas for comparison between international money transfer companies are:
Exchange rate
One of the ways banks and transfer companies can make their money is by charging a markup on the exchange rate offered. When comparing your options, it’s important to have an idea of what is known as the mid-market exchange rate. This is the best rate you can hope to get when transferring between two currencies, so the closer to the mid-market rate you get, the more rupiah you’ll be able to buy.
Banks tend to have the highest fees and lowest exchange rates, which is why they’re generally far more expensive than international money transfer companies. Some transfer companies will charge a small transfer fee and a slight, or no, markup on the exchange rate. Others charge no fees at all but their markup is slightly higher. For this reason, it’s important to compare the exchange rates offered by different providers and their fees as a package, as one will affect the other.
Fees charged for the transfer
Some companies have a set fee (up to $15) on their transfers, while others base their charge on a percentage of the transfer amount, typically ranging from 0.4% up to 0.65%. As mentioned, other companies don’t charge a fee at all. It’s important to consider which fee structure is most suitable for the type of transfer you’re looking to make.
In general terms, a percentage fee will be the cheapest option to transfer smaller amounts. For example, a provider charging a fee of 0.5% of your transfer amount would only cost you $2.50 if you were transferring $500, but $25 if you were transferring $5,000. A set fee will often prove to be the most economical option for larger transfers.
Transfer limits
Check whether there are any minimum or maximum transfer limits which individual transfer providers may apply. Minimum transfers range from $1 right up to $200 to $250 for more business-oriented services such as OFX. Some transfer companies have daily maximums (such as $5,000), although other companies set their limits far higher at up to $500,000 or more.
Country and currency availability
Make sure the company you choose does deal in Indonesian rupiah and can deliver to the region you require. Also, check that they can deliver your transfer in the required way, whether that be into an Indonesian bank account, to a mobile app or in cash.
Payment method
The method you use to pay for your transfer in Australia can also vary between providers – choose between direct debits, bank transfers using BPAY or OSKO, card payments or cash. If you are tempted to use a card linked to your Apple Pay wallet, make sure you don’t use a credit card that charges a high transfer fee.
Customer support
It’s worth determining if your provider offers 24/7 support in your preferred language if you want the security of their assistance if you have any questions. Additionally, if you’re planning to make a large business transfer to Indonesia, it may be worthwhile speaking to a business manager at your preferred transfer company, as you may qualify for reduced fees or a more preferential exchange rate. This will also apply if you are going to make regular transfers to Indonesia. Many companies use business-oriented providers in such circumstances as they offer extensive customer support to business clients.
To use one of Savvy’s trusted partners to send money to Indonesia via an international money transfer, you’ll either need to log on online through their web portal or sign up for an account on your smartphone. The process to send money online is:
There's no need to pay a dollar to compare money transfer services with Savvy, as you can do so for free at any time.
You can compare offers with competitive exchange rates, fees and transfer speeds in minutes with us.
We're partnered with trusted and licensed money transfer companies to bring more quality to your comparisons.
By monitoring the exchange rate, you’ll know when it reaches a good level for you to make your transfer. Also, by keeping an eye on the international exchange market, you may get a feel for which part of the day or week is the best to send your transfer. For example, some currencies tend to dip on a Thursday afternoon, before picking up on Monday morning.
If you know you’ll be making a transfer on a certain date (for instance, on a family member’s birthday, which falls on a set day each year), you can plan and save yourself money. You can do this by transferring Australian dollars to rupiah when the exchange rate is at its best and storing the funds in an international account until needed. An international account (as offered by Wise, for example) allows you to store multiple currencies and then send them off overseas to their destination when required.
Some transfer providers offer currency tools such as currency converters, exchange rate alerts, price guarantees, forward contracts and limit orders to help you manage your international transfers and get the cheapest exchange rate possible. Use these tools to your advantage to time your transfer and get the best exchange rate possible.
If you wish to send funds to family in Indonesia, it may save you money if you make fewer transfers of larger amounts, rather than send smaller amounts regularly. This will apply especially if you are using a company which charges a set fee for each transfer. If your chosen company charges on a percentage of transfer basis, there may not be so many savings to be made, but it still may be cheaper to plan your transfers around the movement of the exchange rate between the dollar and the rupiah.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
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For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
