International money transfers are extremely popular in Asia. Many people work abroad and need safe and reliable tools for sending money back to their country, and there are also many freelancers. If you want to send money to Indonesia, you can actually choose among lots of different methods. But which of them is the most secure and quick one? In the article, we provide a brief overview of those methods to help you decide which of them suits your needs the most.
The most common way to send money across Asian countries is through major banks. This way is the most reliable one, but it’s also very time-consuming: your transaction may freeze for 5 days before it’s finally there. There are several modern banks sometimes called neobanks operating in Indonesia, and they can usually process transactions in just a couple of hours, but they still have complex verification procedures, so they do not suit people who want to hide their transactions.
Payment systems are online platforms that allow you to make cheap and quick transfers abroad. They can work in two ways: some of them work with banks and process transactions between cards issued by their partner, and others are standalone platforms. Hybrid digital solutions are particularly popular because they have simple verification rules and usually offer relatively low fees. Modern international fintech projects are usually a great answer to the question: how to send money to Indonesia?
Wise is one of those projects. It’s been developed in the UK, but now it works in over 150 countries. It supports more than 50 currencies and allows you to exchange them without conversion, keeping the fees low. The most common transfer directions enjoy attractive and fixed exchange rates. Most of the time, transfers to Indonesia take about three days, but internal payments can take a couple of hours.
Another great option for money transfers, Revolut is also a British platform that operates all over the world and features quick and cheap transactions. The platform supports about 30 currencies, and it is possible to send them for free. Revolut is also known for its cryptocurrency options: you can transfer a limited array of major tokens via the same interface. You can also enjoy many other financial products including investments in metals, digital safe deposit boxes, and cashback features.