Storspay vs Wise Business for paying Indonesia: rate, fees, batches and who can actually sign up

Short answer. On a single payment to Indonesia, Wise Business and Storspay land within a fraction of a per cent of each other — both use a mid-market rate and both charge around 1% — so the choice is not about the rate. It is about whether you can open the account (platforms, agencies and anyone paying third parties are often refused), whether you can pay a whole team in one batch from one balance, whether that balance also pays Nigeria, Kenya, Ghana and Mexico, and whether every payment produces a receipt with your invoice reference.

Where they are the same

Both convert close to the mid-market rate, both show the fee before you confirm, both deliver rupiah to BCA, Bank Mandiri, BNI fast. If you are one company paying one developer in Indonesia once a month, either will do the job and you will pay about the same.

Where they differ

Wise is a good product and for a one-to-one payment it is a fair comparison. Storspay is built for the business that pays a team, a supplier list or a marketplace's sellers in Indonesia and in Africa or Latin America, from one balance, with the paperwork a finance team needs.

What is different about Indonesia

Indonesia is Southeast Asia's largest economy and a bank-account market: salaries and supplier invoices are paid to BCA, Mandiri, BNI or BRI accounts, and the domestic BI-FAST rail moves money in seconds. Rupiah amounts are large (a US$1,000 invoice is roughly Rp 18 million), so the exact figure matters and a rate that is a few per cent off is visible to everyone. Storspay quotes the mid-market rate, shows the 1% on its own line, and the recipient's bank sees an ordinary domestic credit in rupiah.

How a payment to Indonesia works on Storspay

1. Fund your balance in USD (ACH or wire), CAD (Interac e-Transfer or EFT), GBP (UK bank transfer) or EUR (SEPA) — to account details in your own business name. Funding is free.
2. Add the recipient once: their name as it appears on the account, the bank (BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata and the other BI-licensed banks) and the account number. Storspay checks the account name before you confirm.
3. Type the amount in either box. Enter what you want to send and see the rupiah that land, or type the rupiah figure on the invoice and see what it costs you. The rate is the mid-market rate; the 1% is on its own line.
4. Confirm. The money goes over BI-FAST and usually lands within minutes — the same business day at most. The recipient gets a notification with the exact amount, and you get a receipt with the invoice reference.

Nobody in Indonesia has to sign up, install an app or touch anything other than their own bank account. Everything on the recipient side looks like an ordinary domestic transfer.

What it costs

Storspay charges 1% all-in on payments to Indonesia, with a minimum of US$2, at the mid-market rate. That one line covers conversion, settlement and delivery; there is no FX markup, no intermediary-bank charge and nothing deducted on the recipient side.

Rates in this guide are the mid-market rate on the day of writing (1 USD = 17,893.30 IDR); the calculator on the homepage shows today's. Large payments are split automatically under the local channel cap, under one reference and one fee.

See what your team in Indonesia receives →

Questions businesses ask before the first payment to Indonesia

Is Storspay cheaper than Wise for Indonesia?

On most amounts they are within a few dollars of each other. Storspay's advantage is not the rate on one payment; it is one balance, one batch and one receipt format across 30 countries.

Can a platform or agency use Storspay to pay its workers in Indonesia?

Yes — that is what it is for. Platforms integrate the API; agencies use Run Payroll.

Can I move from Wise to Storspay without changing what my team does?

Yes. Your team still receives rupiah to the same bank accounts; only the sender changes.

Which Indonesian banks can you pay?

Any bank licensed by Bank Indonesia — BCA, Mandiri, BNI, BRI, CIMB Niaga, Permata, Danamon and the rest. You enter the account number and the bank; Storspay verifies the account name before you confirm.

Why does the rupiah amount look so large?

Because the rupiah is a small unit — roughly Rp 18,000 to the dollar. Storspay shows the full rupiah figure with the mid-market rate on the same screen, so you and the recipient read the same number.

Can I pay a GoPay, OVO or DANA wallet?

Not today. Storspay pays bank accounts in Indonesia; e-wallets are on the roadmap. Most wallet users also have a bank account at BCA, Mandiri, BNI or BRI.

Who this is for — and who it is not for

Storspay is for businesses and organisations: companies, agencies, schools, hospitals, facilitators, foundations and sole traders paying other businesses and professionals for work, goods and services. A sole trader counts as a business and signs up in their own name.

What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, a fee note, work delivered. Money to family and personal transfers are not what this is, and we would rather say so now than at verification.