It was officially founded by Bank Indonesia and was opened on 27 January 2012 after its restoration.

After the Indonesian Independence the building continued to function as the Bank Indonesia's branch in Surabaya until 1973.

By 1904 the original building that occupied the plot was demolished and was rebuilt with an area of 1,000 square metres.

It was designed in a similar manner to De Javasche Bank headquarter in Batavia, with Neo-Renaissance architecture and Javanese adornment.

[2] The museum has 3 floors and displays the history of the banking system in Indonesia, old photos of Surabaya and old currencies.