How to Open a Corporate Bank Account in Indonesia

Opening a corporate bank account is an essential step for every business owner. It helps manage business finances professionally, separates personal and business expenses, and simplifies cash flow tracking.

Below is a detailed guide to help you understand the steps and requirements for opening a corporate bank account.

Read Also: Corporate Bank Accounts: Definition, Benefits, and How to Open One

Required Documents for Opening a Corporate Bank Account

Before opening a corporate bank account, make sure you prepare the following documents:

1. Business Legalities

   • Deed of establishment.
   • Business Identification Number (NIB).
   • Corporate Taxpayer Identification Number (NPWP).

2. Business Registration Documents

   • Certificate of domicile (if applicable).
   • Tax certificates or business permits.

3. Personal Identification

   • Copy of ID card (KTP) of the owner or director.
   • If the owner is a foreign national, include the KITAS.

4. Other Supporting Documents

   • Partnership agreement (if applicable).
   • Proof of credit score for the company or owner.

Read Also: Guide and Sample Authorization Letter for Opening a Corporate Bank Account

Steps to Open a Corporate Bank Account

Here are the steps for opening a corporate bank account:

1. Research the Best Banks

   Compare offers from multiple banks, including administrative fees, interest rates, and service features.

2. Choose the Type of Account

   Decide whether you need a business checking account, a business savings account, or both.

3. Gather Required Documents

   Ensure all documents are prepared according to the policies set by the bank.

4. Fill Out the Application Form

   Complete the application form with accurate and specific information.

5. Deposit Initial Balance

   Most banks require a minimum initial deposit of IDR 1 million.

6. Account Activation

   Once the process is complete, your corporate bank account will be ready to use.

Online Corporate Bank Account Opening Process

Some banks now offer online services for opening a corporate bank account. Typically, you will need to meet the following requirements:

• Digital copies of company documents.
• Copies of the owner’s or representative’s identification.
• A clear business description.
• Digital application forms.

This online process provides convenience as it can be done without visiting the bank branch in person.

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