Wise (formerly TransferWise)
Wise is an international money-transfer platform that lets you receive foreign-currency payments and convert them to rupiah using the real mid-market exchange rate.
Wise gives you local bank details in several currencies (a multi-currency account), so a US client can pay you like a domestic transfer instead of an expensive international wire. Funds convert to IDR at a transparent, published rate plus a stated fee, and you withdraw to an Indonesian bank account.
It is popular with Indonesian remote workers and freelancers because the total cost of moving USD to IDR is usually lower and more predictable than a traditional bank wire. Compare the total fee — not just the headline rate — against alternatives like Payoneer before settling on one platform.
Frequently asked questions about Wise (formerly TransferWise)
Is Wise the same as a bank transfer?⌄
Not quite — Wise routes payments through its own network of local currency accounts rather than the traditional SWIFT wire system, which is usually why it is faster and cheaper for smaller international payments.