What is the cheapest way to send money to Indonesia?

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Do you know how much it will cost you to send 1,000 dollars from the US to Indonesia?

The amount varies, but it can be from 10 dollars up to 150 dollars. Such huge differences stem from the services you choose for the purpose. If you want to avoid paying high charges and hidden exchange rate fees, take a look at the tables below.

Next time you have to send money to Indonesia from the US, Western Europe, Canada or Australia, you’ll know what the best method is. Keep in mind that some of the stated services have limitations. For example, in the US Ria Money transfer is the cheapest way to send money to Indonesia. It is available only from the United States and not the other way around. OFX offers good prices for money transfers, but you have to send at least 500 dollars.

What transfer methods do we use at Time Doctor?

We have a remote team with people in 19 different countries around the world. The two transfer methods we use the most are:

• Wise, formerly TransferWise – is a new kind of financial company that you can use to transfer money internationally at a very low cost. Their system is based on local bank account transfers, which makes transfers abroad cheaper than what banks or other providers charge. They charge a small upfront fee between 0.5% and 2% for transactions, depending on the route.
• Payoneer – very convenient for sending and receiving. They are also one of the few methods that works to receive money in almost every country and the receiver can get their money on a debit card and withdraw from an ATM. They also have an option for direct transfer to the receiver’s bank account. They also have a $50 bonus if you receive more than $100 through this method.

Table 1 – Sending $1000 from the US to Indonesia
Transfer Method	Stated fees to send $1000 USD	Hidden currency conversion cost	Total cost	Time for the transfer to arrive
OFX (previously USForex)*	$0	$7.5	$7.5	1-2 days
Wise, formerly TransferWise	$15	$0	$15	1-2 days
Ria Money Transfer (slow)	$5	$12	$17	3-5 days
XE Trade	$0	$24	$24	3-5 days
Ria Money Transfer (fast)	$15	$12	$27	Minutes
Payoneer	$3	$28	$31	3-5 days
WorldRemit*	$14	$25	$39	3-5 days
Transfast (slow)	$5	$36	$41	3-5 days
Xpress Money	$18	$26	$44	3-5 days
MoneyGram (slow)	$25	$25	$50	3-5 days
Western Union (slow)	$25	$37	$62	3-5 days
Transfast (fast)	$30	$36	$66	Minutes
Wire transfer	$25-55	$10-30	$35-85	3-5 days
MoneyGram (fast)	$81	$25	$106	Minutes
Western Union (fast)	$81	$37	$118	Minutes
Travelex	$0	$154	$154	3-5 days

Notes:

• WorldRemit is offering their services only from the following states of US:
  District of Columbia, Idaho, Indiana, Iowa, Kansas, Michigan, Mississippi, Missouri, Montana, New Mexico, North Dakota, Oregon, South Carolina, Utah, West Virginia, and Wisconsin.
• If you’re not sure what I mean by “hidden currency exchange fees” check out our explanation in this article.
• The fees for wire transfers are estimates and vary from bank to bank.
• Minimum transfer of $500 for OFX (previously USForex).

Table 2: Sending Money to Indonesia from Different Countries. The TOTAL Cost in Percentages including the HIDDEN currency exchange fees.
Transfer Method	From the US	From the UK	From Canada	From Western Europe	From Australia
OFX (previously USForex)	0.75%	0.75%	0.75%	0.75%	0.75%
Wise, formerly TransferWise	1.5%	1.5%	1.5%	1.5%	1.5%
Bamboo Exchange	Not available	Not available	Not available	Not available	1.5%
Ria Money Transfer	1.7%	Not available	Not available	Not available	Not available
Kangaroo Service	Not available	Not available	Not available	Not available	1.9%
OrbitRemit	Not available	1.6%	Not available	Not available	2.7%
XE Trade	2.4%	2.3%	1.4%	2.2%	2.3%
Payoneer	3.1%	Not available	Not available	Not available	Not available
WorldRemit	3.9%	3.1%	3.3%	3.9%	2.8%
Transfast	4.1%	Not available	3.3%	Not available	Not available
Azimo	Not available	3.2%	Not available	4.1%	Not available
Xpress Money	4.4%	4.3%	4.9%	6.8%	7.8%
Western Union	6.2%	3%	5.9%	2.8%	8.8%
Exchange4free	Not available	4.6%	4.8%	4.6%	4.5%
Wire transfer	2.5 – 5.5%	2 – 4.5%	2.5 – 5.5%	2 – 4.5%	3 – 6.5%
MoneyGram	5%	9.9%	8.7%	8.1%	7.1%
Travelex	15.4%	9.6%	15%	15.4%	9%

Note:

• OFX (previously OzForex) is a good option for sending larger amounts of money and their exchange rate fee goes down for larger amounts.
• Minimum transfer of $500/£500 for OFX

Other articles that might interest you:

Transferring Money with Wise (formerly TransferWise)
What’s the Cheapest Way to Send Money to India?
Compare Hidden Exchange Fees When Sending Money to Bangladesh