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.
Does Revolut Work In Indonesia?
Revolut is available for use in Indonesia, allowing users to hold and spend in Indonesian Rupiahs. The service includes functionalities such as fee-free ATM withdrawals up to certain limits, currency exchange, and the ability to manage finances through the Revolut app. Users can also set spending limits and receive instant notifications for transactions.
However, there are some limitations to be aware of. Currency exchange fees are subject to fair-usage limits and weekend markups. Additionally, while ATM withdrawals are free up to a certain amount, exceeding these limits incurs a fee. Some ATMs may also charge additional access fees that Revolut cannot prevent.
Fees and Charges for Using Revolut in Indonesia
Here are some general costs that users might encounter when using Revolut in Indonesia:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Fee-free up to £200 for Standard and Plus plans, £400 for Premium plan, and £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).
- Transaction fees: No specific transaction fees for spending in Indonesian Rupiahs, but currency exchange fees may apply if the transaction involves a currency conversion.
- ATM access fees: May be charged by the ATM provider, which Revolut cannot prevent.
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.
Here are some specific limitations:
- ATM access fees: Some ATMs may charge additional fees that Revolut cannot prevent.
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- Withdrawal limits: Fee-free withdrawals are capped based on the user's plan.
- Transaction notifications: Instant notifications may not always be reliable due to network issues.
- Local regulations: Users should be aware of local financial regulations that may affect usage.
Alternatives to Revolut in Indonesia
1) OneSafe
OneSafe is a leading alternative payment solution in Indonesia, offering ease of use, lower fees, and superior customer support. Key features include simple onboarding, multi-currency support, and seamless payments. With no commission fees and efficient financial operations, OneSafe stands out as a superior option for users.
OneSafe Reviews
Users have praised OneSafe for its comprehensive banking features, including ACH, Crypto, Wire deposits, and Virtual cards. Many appreciate the support for most businesses and express gratitude for the seamless experience. Although the page does not mention any notable achievements or awards, the positive reviews highlight OneSafe as a reliable and efficient financial solution.
2) Wise
Wise offers a versatile payment solution in Indonesia, featuring a multi-currency account, international money transfers, and a debit card with no foreign transaction fees. Users benefit from cost savings on transfers, transparent fees, and robust security measures, making Wise a reliable option for managing money globally.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval processes. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and convenient payment solution in Indonesia, featuring global money transfers, fraud protection, and the ability to link multiple cards for flexible payments. Businesses can benefit from remote payment acceptance and easy invoicing, making PayPal a versatile 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, especially for international payments, and issues with customer support and billing. 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, but fees may apply after certain limits.
Are there any fees for using Revolut in Indonesia?
Yes, fees include currency exchange fees, ATM withdrawal fees beyond limits, and potential ATM access fees.
Does Revolut support Indonesian Rupiah?
Yes, Revolut supports holding and spending in Indonesian Rupiah, along with other currencies.
Can I receive instant transaction notifications in Indonesia?
Yes, but instant notifications may sometimes be unreliable due to network issues.
Is Revolut the best option for travelers in Indonesia?
Revolut is a viable option, but consider alternatives like OneSafe, Wise, or PayPal for potentially better features.
Begin Your Journey with OneSafe Today!
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 superior features and lower fees. Consider OneSafe for a seamless financial experience. Sign up to OneSafe today!
