In this article, you'll discover whether Revolut works in Indonesia, explore some potential drawbacks if it is available, and consider the possibilities for using this financial service while traveling. Stay tuned to find out more.
Does Revolut Work In Indonesia?
Revolut is available for use in Indonesia, allowing users to spend in Indonesian Rupiahs and make ATM withdrawals. The service offers a multi-currency card that can be used for payments and withdrawals in over 150 currencies, including the Indonesian Rupiah. This makes it convenient for travelers and expatriates who need to manage their finances while in Indonesia.
However, the functionalities specific to Indonesia are not extensively detailed on the main Revolut website. Users can still benefit from Revolut's global services such as international money transfers, multi-currency spending, and earning rewards. It's advisable to check the Revolut app for the most accurate and up-to-date information regarding service availability and any potential regional restrictions.
Fees and Charges for Using Revolut in Indonesia
When using Revolut in Indonesia, there are several fees and charges to be aware of. Here are the key costs associated with the service:
- Currency Exchange Fees: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM Withdrawal Fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction Fees: No specific transaction fees are mentioned for spending in Indonesian Rupiahs, but currency exchange fees may apply if spending in a currency not held in the wallet.
- Currency Conversion Fees: Currency exchange fees are subject to fair-usage limits and weekend markups. Exchange fees above free conversion limits will apply for conversions.
- Withdrawal Limits: Fee-free ATM withdrawals up to £200 for Standard and Plus plans. Fee-free ATM withdrawals up to £400 for Premium plan. Fee-free ATM withdrawals up to £800 for Metal plan. Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- General Costs: Currency exchange fees and weekend markups may apply. ATM withdrawals are free up to certain limits based on the user's plan; beyond these limits, a 2% fee or a minimum fee of £1 applies. Users should be aware of potential ATM access fees charged by the ATM provider, which Revolut cannot prevent. It is recommended to always select 'No' if an ATM asks to convert money to avoid additional fees and get the best exchange rate.
Is Revolut the Best Option in Indonesia?
Even though Revolut is available in Indonesia, it might not be the best option for users due to certain limitations and restrictions.
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal limits: Free up to £200 per month; 2% fee beyond that.
- Transaction fees: Potential fees for spending in currencies not held in the wallet.
- ATM access fees: Additional fees may be charged by the ATM provider.
- Service availability: Limited functionalities specific to Indonesia.
Alternative Payment Solutions in Indonesia
1) OneSafe
OneSafe is a leading alternative payment solution in Indonesia, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, global payments, and user-friendly corporate cards, OneSafe stands out as a modern financial platform tailored for global businesses and startups.
OneSafe Reviews
OneSafe has received positive feedback from users who appreciate its ease of use, lower fees, and excellent customer support. Users have rated the company 4.5 out of 5, highlighting its simple onboarding process and efficient global payment solutions. Check out more of our reviews here!
2) Wise
Wise is a reliable alternative payment solution in Indonesia, offering cost-effective international money transfers with real exchange rates and low fees. Key features include guaranteed exchange rates for 24 hours, support for multiple currencies, and quick transfer times, often within hours. Wise is licensed by Bank Indonesia, ensuring regulatory compliance and security.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 from 23 reviews, with a recent rating of 4.5 out of 5 from 2 reviews. Users generally mention issues with money transfers being returned without notification and challenges with document approval. Check out more Wise reviews here.
3) Paypal
PayPal is a viable alternative payment solution in Indonesia, offering secure transactions, global reach, and ease of use. Key features include buyer and seller protection, the ability to link multiple cards, and fast invoicing. These benefits make PayPal a reliable option for both personal and business transactions.
Paypal Reviews
PayPal has a rating of 4.4 out of 5 stars. Users generally mention high transaction fees and a lengthy dispute resolution process. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Indonesia
Can I use Revolut to withdraw cash in Indonesia?
Yes, you can withdraw cash from ATMs in Indonesia using your Revolut card.
Are there any fees for using Revolut in Indonesia?
Yes, fees include currency exchange fees, ATM withdrawal fees, and potential ATM provider fees.
Does Revolut support Indonesian Rupiah?
Yes, Revolut supports spending and withdrawals in Indonesian Rupiah, among other currencies.
Is Revolut widely accepted in Indonesia?
Revolut is accepted where Visa or Mastercard is accepted, but acceptance may vary by merchant.
Can I transfer money to Indonesian bank accounts with Revolut?
Yes, you can transfer money to Indonesian bank accounts using Revolut's international transfer feature.
Conclusion
Choosing the right payment solution in Indonesia is crucial for managing your finances effectively. While Revolut offers some benefits, exploring alternatives like OneSafe can provide lower fees and better support. Consider signing up for OneSafe to experience a modern financial platform tailored for global businesses. Signup today!
