Get to Know Corporate Debit Card Providers in Indonesia

Written by
Ekky Pramana
Last Modified on
March 7, 2024

You might already be familiar with debit cards, as it has become a part of our daily lives and one of the most popular payment methods in Indonesia today. Debit cards or also known as bank cards are payment cards that are directly linked to your bank account, can be used for both payment and also to withdraw the balance from your bank account via ATM.

But did you know, in addition to personal debit cards,some banks and other financial institutions also provide debit cards for business or corporate purposes? So, what is the difference between a debit card and a corporate credit card? Let's discuss it together.

What is a Corporate Debit Card

Just like any other debit card, a business debit card or company debit card is a payment card issued by a bank or other financial institution that is designated for a business entity, i.e. a company or corporation, and the source of funds comes from the corporate bank account. Normally, to get a corporate debit card,  a company must apply for it.

What are the differences between a Corporate Debit Card and a Corporate Credit Card? You can find the differences between both cards in the table below.

One of the benefits or functions of a corporate debit card is to help the company's finance department to manage its petty cash and also to make payments for expenses related to the company's operations (such as transportation costs, purchase of office equipment, etc.). Apart from that, there are several other benefits of corporate debit cards such as:

Keep track of the company's finances

In addition to helping the company's finance department to pay for various expenses, corporate debit cards can also help the finance department to monitor and control the spending as every transaction has a transaction history that can be accessed electronically. This also helps the company in financial reporting. 


Corporate debit cards also help companies to save a lot of time, as they can be used to conduct both online and offline transactions. 

Security Features

Corporate debit cards are also one of the cashless transaction methods that provide high security. They are equipped with various security features such as PIN, transaction notifications to email or cell phone number, verification via OTP, and a clear record of each transaction. This reduces the possibility of misuse of the debit card.

Is it worth it to have a corporate debit card for my business?

Despite the many perks and conveniences that corporate debit cards offer, they also come with some potential risks that you need to know before deciding to apply for a corporate debit card. Here are some things to consider:

No Credit Facility

A corporate debit card will be directly linked to your bank account, and every transaction will directly deduct the balance in your bank account. If not used properly and wisely, itcan potentially disrupt your company's cash flow, especially for MSMEs and startups. 

Higher security risk than credit cards

Although corporate debit cards are equipped with various security features, since it is linked to the company's bank account and deducts the balance directly, corporate debit cards pose a direct financial risk to the company compared to credit cards. Therefore, the company's finance department needs to keep a close eye on every transaction to avoid any breaches.

Choosing the right corporate debit card for your business

Before applying for a corporate Debit Card, it would be a good idea to consider several things to make sure that the corporate debit card suits your business needs. Here are some of the things that you might want to consider:

Administration fees and surcharges

Debit cards may also have additional costs that you should be aware of before applying for them. Make sure you have a clear understanding of the amount of fees charged so that it won't be a burden on your business expenses. The fees that may be imposed on your company's debit card include: monthly fees, transaction fees, and other fees such as cash withdrawal fees and inter-bank transfers.

The debit card network available

Just like credit cards, debit cards are usually issued by banks that work with a global payment network such as Visa, Mastercard, and Maestro. In Indonesia itself, some debit cards issued are part of a national network called Garda Pembayaran Nasional (GPN). For the ease and smoothness of your business transactions, make sure your company’s debit card can be accepted by various national and international payment networks.

Also, ensure that your company's debit card also has a wide ATM network. This makes it easier to withdraw cash or make transactions with your debit card and reducesthe potential for additional fees when making cash withdrawals and interbank transactions.

Check the security features of the card

Since corporate debit cards are directly linked to the company's bank statement, do not hesitate to ask in detail about the security features implemented by the issuing bank or financial institution for all transactions made with corporate debit cards. This will help reduce the risk of fraud and transactions made by irresponsible parties. 

Spending Limit

If a company credit card has a credit limit, a company debit card also has a limit on the amount of transactions that can be carried out, either on a daily, monthly, or annual basis. Make sure you check the various transaction limits that are applied, so that they suit your business transaction needs.

Which one suits my business better, physical debit card or virtual debit card?

There are two types of corporate debit cards that you can opt for, physical debit cards and virtual debit cards. Besides looking at the above mentioned factors when choosing a corporate debit card for your business, choosing the right type of debit card for your business is equally important.

Here is a  comparison of physical debit cards and virtual debit cards to help you decide.

Tips on Choosing the Right Corporate Debit Card

After knowing the difference between corporate debit cards and corporate credit cards, the various advantages and disadvantages of corporate debit cards and some of the institutions in Indonesia that offer them, how can we choose the most suitable one for our business needs? There are at least a few things that you can consider when choosing a debit card for your business needs. 

Evaluate your business needs

Consider the types of transactions that your business does most often, as well as the amount of transactions made each month. For example, if your company conducts more online transactions, then you can consider using a virtual company debit card as it will be more practical and efficient for your team. However, if there is a lot of need for offline and cash transactions, then the physical company debit card might be the best option for your business.

Compare the fees

Remember to read carefully the terms and conditions set by the bank or financial institution issuing the corporate debit card, and make sure you are aware of the various fees charged by the service providers. If possible, do a comparison between several corporate debit card providers before you choose the most suitable one for your business needs.

The Security features Offered 

Since a corporate debit card is directly linked to your bank account, make sure it comes with proper security features to prevent misuse and fraud.

Corporate Debit Card Providers in Indonesia

Compared to corporate credit cards, perhaps there are fewer banks or other financial institutions in Indonesia that offer corporate debit cards. But if you are considering a corporate debit card for your business, here's an overview of some of the corporate credit cards available in Indonesia.

HSBC Fusion Business Debit Card

The corporate credit card offered by HSBC is also known as HSBC Fusion Business Debit Card. To get the HSBC Fusion Business Debit Card, there are two requirements that need to be met, namely: The business entity is located in Indonesia and has an annual sales volume of up to IDR 50 billion. 

Here are some other advantages of the HSBC Fusion Business Debit Card as highlighted on their official website:

  • Facility to issue up to 4 corporate debit cards for one existing corporate account.
  • No administration fee for cash withdrawals, balance checks, and also transfers up to 30 times per month at ATM Bersama and Prima networks in Indonesia
  • Ability to make payments at any EDC machines both domestic and overseas that accept debit cards with Visa and Prima logos
  • Can make transactions at various ATMs with debit card networks both in Indonesia and overseas, including HSBC ATMs, Bersama ATMs and Prima ATMs in Indonesia, as well as ATMs with the Plus network around the world.

Corporate Debit Card from Bank Danamon

Another bank in Indonesia that offers corporate debit cards is Bank Danamon, where the Corporate Debit Card product offers a maximum amount of Rp1 Billion for all debit card transactions issued every day.

Here are some of the benefits and facilities offered by corporate debit card issued by Bank Danamon as mentioned on their official website: 

  • Corporate debit card facilities with Mastercard or GPN networks for each sub account
  • Flexibility to choose the use of corporate debit cards issued, whether for cash withdrawals at ATMs, transfers via ATMs, or offline transactions with EDC machines
  • Accepted in various ATM and EDC networks.
  • Easy to monitor because it is connected to the Danamon Cash Connect app.

Corporate Debit Card from Permata Bank

The corporate credit card issued by Permata Bank is called Corporate Debit Card. To get this facility, a business entity only needs to fulfill two requirements: having an account at Permata Bank and agreeing to the terms and conditions applied. Meanwhile, the administrative and other fees charged for the corporate debit card depends on the agreement between the two parties. 

Here are some of the benefits that Permata Bank's Corporate Debit Card offers as mentioned on their website:

  • May request multiple corporate debit cards for one bank account
  • The limit for each card can be determined by the company itself
  • Daily transaction reports from existing corporate debit cards that simplify the tracking and data collection process
  • Easily monitor all transactions made by corporate debit cards through internet banking

Alternative to corporate debit cards in Indonesia

As your trusted partner in growing your business, Aspire offers various solutions for your business needs, one of them is the Aspire Virtual Debit Card which is an alternative to corporate debit cards issued by banks in Indonesia. Using the Aspire card, you get all the benefits that a corporate debit card offers for your business, with some additional benefits such as: 

  • Never have to worry if your corporate debit card is lost or swallowed by an ATM machine, because the corporate debit card is in virtual form
  • Support and ease of doing online transactions 
  • Simple application: 100% online, and no monthly card fees
  • You are able to set the number of cards needed and also set the limit for each card through the Aspire App
  • Secure transactions with real-time notifications for every transaction made using the Aspire Virtual Debit Card. This feature helps your financial manager to monitor transactions and reduce the risk of fraud. 
  • Exclusive promos, such as unlimited cashback for every financial transaction made through Aspire Card at our partner merchants around the world. 

Keen to know more on how Aspire Virtual Debit Card can be a solution for growing your business? Learn more about Aspire Virtual Debit Card and apply for free now!

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About the author
Ekky Pramana
is a seasoned writer specialising in business finance and management. With a writing history at Tech in Asia, Teknoverso, and various other publishers, he leverages his market expertise to empower and educate first-time founders in managing their businesses better.
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