How to send money to Indonesia from India with the best INR-IDR rate

Comparing money transfer companies with services between India and Indonesia, based on your specific transfer amount and transfer needs, is the best way to send money at the best price.

For this route, we’ve compared 5 providers providing services between India and Indonesia. This ensures you will get the best options when sending Rupiah to Indonesia.

Over the last 7 days, we’ve picked Wise as the best overall provider. However, comparing based on the amount you want to send to Indonesia will provide a specific provider that’s best for transferring money from India.

The exchange rate is the price you will pay when buying Rupiah in India. A better exchange rate means you send more Rupiahs to Indonesia.

Currently, the mid-market rate between the Indian Rupee and Rupiah is 189.575. The company offering the best price on buying Rupiah is Wise.

Exchange rates between INR-IDR change almost constantly.

Waiting a day or two can help you get more IDR for the same amount of Indian Rupees, but you may also end up paying more if you do wait.

A better option is to use a forward contract. This allows you to lock in an agreed exchange rate for transfers between India and Indonesia for a set amount of time, this can be up to two years in some cases.

Sending through a money transfer company via a bank transfer will most often be the way to get the best price when sending money from India to Indonesia.

For a transfer by bank transfer, Ria Money Transfer is 0.28% cheaper than the next option.

India and Indonesia have different regulators for financial transactions and ensuring you fully understand these regulations will aid in keeping your money safe.

Our directory of worldwide financial regulators has regulation details for money transfers between India and Indonesia.

Money transfer companies offering services between India and Indonesia have minimum or maximum thresholds on how much you can send or receive. These can be daily, weekly or monthly.

In particular, rates and fees for sending different amounts of Indian Rupee could change. We always recommend comparing INR-IDR rates for your specific transfer amount. Then, with transfers to Indonesia, shopping around each time can make a huge difference - as some providers offer introductory rates.

If you’re worried about transfer limits, for sending large amounts of INR to Indonesia, we’d recommend Wise.

There are different options for receiving Rupiah in Indonesia. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from India to Indonesia will offer every method for incoming Rupiah, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from India into Indonesia. For most part, this is because it means the recipient has to do very little. Wise is the best company for bank transfers between India and Indonesia.

And if you need cash right away, check if cash pickup is an option for transfers between India and Indonesia.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Ria Money Transfer.

You will need to verify your ID at the sign up stage when sending from India to Indonesia through a money transfer company.

Documents needed will vary and in some cases you might need a couple of different forms of ID.

ID can be verified in India through a government issued ID such as a passport or driver's license. If the recipient needs ID to collect money in Indonesia, both of these will also likely be accepted. Depending on the company you are using and where the money is going in Indonesia, it’s always best to check ahead just in case.

Larger transactions between India and Indonesia are likely to be subject to additional checks such as proof of funds for anti-money laundering purposes. This could slow down the process of sending money if you’re not prepared for them.

One of the reasons Wise scored so highly for large and regular transfers to Indonesia, was their easy sign up process in India.

When sending money between India and Indonesia there will be tax declarations to consider.

Some transfers into Rupiah may need to be reported to tax authorities in Indonesia. This is of particular note where inheritance or property purchases are involved.

Personal allowances and tax limits will change in Indonesia based on age, income and personal circumstance. When in doubt, please contact a tax professional in India or Indonesia to discuss your individual needs. This will ensure you are not missing any specific tax obligations associated with your transfer.