Banking · Retail bank
Jago: Indonesian digital bank (PT Bank Jago Tbk)
Listed Indonesian digital bank, licensed and supervised by the OJK and a member of the Indonesian deposit insurance scheme (LPS). It is reserved for Indonesian nationals holding an e-KTP identity card: a foreigner, even a resident with a KITAS or a KITAP, cannot open an account.
Please note
Characteristics
- Family
- Retail bank
- Regulator
- Otoritas Jasa Keuangan (OJK)
- Regulator country
- Indonesia (Bali)
- Deposit guarantee
- Yes
- Remote opening
- Yes
- Currencies
- IDR
- Services
- Savings · Payment card · International transfers
- Accepted residencies
- Not provided
- Refused residencies
- Not provided
- Home country
- Indonesia (Bali)
Jago states that the account is open to Indonesian nationals who hold an electronic identity card (e-KTP) and a smartphone. Registration also requires the tax number (NPWP) and a verification video call. Foreigners, including residents holding a KITAS or a KITAP, are not covered.
Entities and regulatory status
| Entity | Jurisdiction | Status | Regulator | Protection of funds |
|---|---|---|---|---|
| PT Bank Jago Tbkholds the accountOJK register not consulted; status as stated in the bank's FAQ. Country key indonesie-bali used for Indonesia. | Indonesia (Bali) | Banks with their own licence | Otoritas Jasa Keuangan / Bank Indonesiaregister · jago.com | LPS |
Who can open or keep an account
| Country of residence | Case | Status | Conditions |
|---|---|---|---|
| Indonesia (Bali) | Opening | Accepted | Indonesian nationals holding an e-KTP and a smartphone.jago.com |
| Any residence (general rule) | Opening | Refused | Reserved for Indonesian nationals: foreigners are excluded, even those resident in Indonesia (KITAS, KITAP).jago.com |
| Indonesia (Bali) | Keeping after a move | Unknown | Not documented. |
A country missing from this table is neither accepted nor refused: the information is not published.
Published figures
- Account feeNot provided
- Brokerage feeNot provided
- Deposit guarantee ceilingNot provided
- Entry ticketNot provided
Which entity, what status
Jago's FAQ states that PT Bank Jago Tbk is a bank "licensed and supervised by the Otoritas Jasa Keuangan (OJK) and Bank Indonesia", and a guaranteed member of the Lembaga Penjamin Simpanan (LPS), the Indonesian deposit insurer. The suffix Tbk denotes a listed company.
The institution's entry in the OJK register and the composition of its shareholding have not been verified.
Who can open an account
Jago's FAQ is explicit: an account can be requested "if one is of Indonesian nationality", holds an electronic identity card (e-KTP), and has a smartphone. The bank's registration guide also mentions a photograph of the identity card, the Indonesian tax number (NPWP) and a verification video call, requirements that the bank links to OJK regulations.
For an expatriate, the answer is therefore no: a foreigner resident in Indonesia, holding a KITAS or a KITAP, does not meet the nationality condition and cannot open a Jago account. Traditional Indonesian banks, by contrast, offer account-opening procedures for foreigners, with a passport and a residence permit.
What happens to the account of an Indonesian holder who moves abroad is not documented on the pages we read.
Account, card and currencies
Jago offers a rupiah account managed from the app and organised into "Pockets", sub-accounts that can be multiplied without monthly administration fees, according to the product information summary published by the bank (RIPLAY).
Transfer fees, limits and complementary products are not documented here.
Protection of funds
Jago declares itself a member of the Lembaga Penjamin Simpanan (LPS). The LPS guarantee is capped at figure being updated per depositor and per bank, according to information published by an Indonesian bank that is a member of the scheme; this national cap applies to all member banks, including Jago.
The guarantee is subject to a rate condition: a deposit that earns interest above the guaranteed rate set by the LPS loses the guarantee. A high promotional rate therefore deserves a check before placing significant savings there.
The cap and the rate condition were read on the page of a member bank, and not on the LPS website, which we were unable to open. The guaranteed rate currently in force, which is revised periodically, is not reproduced.
Points to check
- The Indonesian nationality condition, which excludes resident foreigners.
- The LPS guaranteed-rate condition, which may exclude some deposits paying too high a return.
- The status in the OJK register.
- The reporting obligations linked to your tax residence: a French tax resident declares each year the accounts opened, held, used or closed outside France, including those with online banks and payment wallets; other countries impose comparable obligations.
- The tax residence self-certification requested at account opening: depending on the automatic exchange of information commitments of the bank's country, the account's balances and income may be reported to the tax authority of your country of residence.
- The role of the account in your overall setup: a local digital account mainly serves day-to-day life on the spot; it does not replace an account in your home country for direct debits, a pension or a mortgage, nor a multi-currency account for receiving euros.