How to Transfer Money from Russia and Europe to Indonesia in 2025: Cryptocurrency, Bank Wires, and Legal Fintech Services

Transferring money to Indonesia in 2025 has become more complex and heavily regulated. The country has upgraded its tax enforcement system, tightened controls on cryptocurrency transactions, and now requires full transparency for all international transfers. This is especially relevant for remittances coming from Russia and certain European countries under financial restrictions and sanctions.

Let’s explore the main options for sending money to Indonesia in 2025 — via cryptocurrency, the SWIFT banking system, and registered financial services. We'll provide guidance for individuals, freelancers, and companies, with a focus on local regulations and new digital tools such as Coretax.

Transferring Money via Cryptocurrency: Regulations and Requirements in 2025

Who Regulates Cryptocurrency in Indonesia?

As of January 2025, the regulation of cryptocurrency has officially been transferred to OJK (Otoritas Jasa Keuangan), Indonesia’s Financial Services Authority. Previously, oversight was handled by Bappebti (Commodity Futures Trading Regulatory Agency).

All cryptocurrency activities — buying, holding, and selling — must now pass compliance checks through platforms monitored by OJK. Use of anonymous wallets or unlicensed exchanges may result in account blocks or penalties.

Cryptocurrency Taxation in Indonesia

When receiving or selling cryptocurrency, the following tax obligations apply:

• Capital Gains Tax — applicable when selling crypto assets or converting them to Indonesian Rupiah (IDR);
• PPh (Pajak Penghasilan / Income Tax) — ranges from 0.1% to 0.2% per transaction depending on the platform;
• Mandatory reporting via the OJK system — all transactions are recorded and reported to the regulator.

How Crypto Transfers Work

The technical process remains straightforward: the sender in Russia or another country purchases stablecoins (e.g., USDT) or BTC and transfers them directly to the recipient’s crypto wallet in Indonesia. The recipient then sells the coins via a licensed exchange and receives IDR into their bank account.

Key limitations and conditions:

• Paying for goods or services in cryptocurrency directly in Indonesia is prohibited. The Rupiah is the country’s only legal tender.
• Crypto must be sold for IDR only through approved platforms, such as Indodax, Tokocrypto, and Pintu.
• Exchange rates may differ from global averages — be mindful of fees and formal transaction limits.

The official list of licensed crypto platforms can be found on the OJK website: ojk.go.id.

Conclusion

Cryptocurrency remains a viable option for transferring money to Indonesia, particularly amid Russia's banking system isolation. However, compliance and proper declaration of funds are essential, especially when converting to IDR.

SWIFT Transfers to Indonesia: Challenges and Opportunities

Common Issues with SWIFT Transfers in 2025

In 2025, up to 40% of SWIFT transactions from Russia and parts of Europe are blocked at the compliance verification stage. Key reasons include:

• Banks in Russia and Belarus are under international sanctions (e.g., VTB, Rosselkhozbank, Novikombank);
• Transfers from banks without active SWIFT codes are automatically rejected;
• Indonesian banks request income source verification, especially for transfers over IDR 100 million (~$6,500);
• Correspondent banking issues — many Asian banks have cut ties with Russian institutions.

What Banks in Indonesia Check

Starting in 2025, all transfers are tracked via the Coretax platform (Indonesia’s unified digital tax reporting system). Indonesian banks are required to:

• Perform full KYC/AML checks on both sender and recipient;
• Review supporting documents (contracts, invoices, declarations);
• Verify tax residency and NPWP registration;
• Declare and register each transaction online.

Coretax is a centralized tax administration system that receives real-time data from banks and fintech platforms, enabling detection of undeclared transfers.

When SWIFT Makes Sense

SWIFT may be suitable if:

• The transfer originates from a non-sanctioned country (e.g., UAE, Hong Kong, Kazakhstan);
• Both the sending and receiving banks have active SWIFT codes and compliant partnerships;
• It is a B2B transfer with supporting contracts and invoices;
• The recipient can document their income source and has a registered NPWP.

Financial Services for Money Transfers from Russia and Europe to Indonesia

The Risks of Unlicensed P2P Exchanges

Using Telegram bots, private chats, and informal brokers for currency or crypto exchange — common in Russia — can lead to penalties in Indonesia, including:

• Account suspension;
• Interrogation by Bank Indonesia or OJK;
• Fines or cancellation of your Stay Permit/KITAS or visa in case of illegal schemes;
• Removal from the Coretax system, followed by asset seizure for tax violations.

Legal Services and Their Features

• Wise: Supports transfers from Europe/Asia to Indonesia. Does not accept payments directly from Russia. Limit — up to IDR 1.5 billion/month (~$97,000). Moderate fees, fast execution.
• Western Union / MoneyGram: Up to IDR 100 million per transaction. Cash pickup available. Fees range from 4% to 6%.
• Licensed remittance aggregators (e.g., based in Hong Kong or Singapore): Offer B2B/B2C payments with full documentation and OJK reporting. Great for businesses and large transfers.

Taxation of Incoming Transfers

Under Indonesian law:

• Tax residents with NPWP pay income tax ranging from 5% to 35%, but can apply tax credits via international treaties (with invoice, contract, and PPh calculation);
• Non-tax residents are subject to a flat 20% withholding tax on all incoming funds;
• As of January 2025, all banks are integrated with Coretax, enabling automated reporting and monitoring for incoming funds.

Comparison of Money Transfer Methods to Indonesia

Method	Pros	Cons
Cryptocurrency	Fast, accessible from Russia, low fees	Requires reporting; may not be used for direct purchases
SWIFT	Official, suitable for B2B and contractual payments	Potential blocks; not all banks support it
Legal Fintech Services	Transparent, convenient, good for individuals and businesses	Do not support direct transfers from Russia, above-average fees

FAQ: Frequently Asked Questions

Is it legal to transfer money from Russia to Indonesia in 2025?

Yes, if done via cryptocurrency (with proper legalization through licensed Indonesian exchanges) or via regulated international financial services based in friendly jurisdictions like the UAE or Kazakhstan.

Do I have to report incoming transfers to the tax office?

If you are a tax resident in Indonesia (have an NPWP), then yes. Large amounts are automatically visible in Coretax, and failure to report them may result in penalties.

Which countries are safer for SWIFT transfers?

Countries not under sanctions: Kazakhstan, UAE, Serbia, Georgia, Turkey. Also, the reliability of the sending bank matters — choose banks with a solid compliance reputation.

Can freelancers receive payments in Indonesia via crypto?

Yes, provided they use licensed Indonesian exchanges to convert crypto to Rupiah and report the income appropriately.

Recommendations: How to Safely Transfer Money to Indonesia

• Ensure your transfer method complies with sanctions and taxation laws.
• If you're an Indonesian resident, register your NPWP and create a Coretax profile.
• Avoid gray-market schemes and P2P chats — these can lead to asset freezes.
• For large transfers, formalize the transaction with a contract, invoice, or official agreement.
• Choose accredited fintech providers that report directly to OJK.

Indonesia’s financial system in 2025 is increasingly digital, transparent, and regulated. Following the rules is the key to successful cross-border transactions — especially in today's climate of global tension and automated oversight.

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Article Update

Last updated: December 2025.

About the Coretax Platform

Coretax is Indonesia’s new tax reporting infrastructure launched in 2025. It connects banks, financial platforms, and the tax office, enabling real-time tracking of fund flows and automatic calculation of tax liabilities for recipients.

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