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Local Currency Settlement

Local Currency Settlement

About Important Information Fees, Charges, and Limit Get The Service

Local Currency Settlement


Outward Remittance service transaction to Malaysia, Thailand, Japan, and China settled using the respective local currencies of the related countries, Malaysian Ringgit (MYR), Thai Baht (THB), Japanese Yen (JPY), Chinese Yuan (CNY), or Indonesian Rupiah (IDR), which is more convenient and gives you more benefits to your trade of goods and services transaction.

Benefit


Wide scope of transaction purpose

Local Currency Settlement can be used for a wide scope of transaction purpose, i.e

  • All payment for trades of goods and service activity between Indonesia with the related countries (excl. grants, donation, etc)
  • Payment for education, health service, and living cost
  • Payment and receipts related to employment fund
  • Transfer of income and payment for investment (direct investment, portfolio, etc)

Ease of transaction

  • Competitive price and rates
  • Investment alternative using related local currency
  • Faster transaction settlement
  • Easier requirement related to underlying document regulation for buy/sell foreign currency transaction above the regulated threshold

Special Promo

  • Full Amount Fee only at USD 10 and 100% Telex Fee Cashback* for every LCS CNY transaction valid until 31 December 2022
  • 100% Telex Fee Cashback* for every LCS MYR and THB transaction valid for 2022

*) Telex Fee Cashback maximum of five transactions/customer/month, only for Rupiah transactions that will be credited to the customer’s account in the following month.

Important Information


Informasi

Mata Uang

JPY

CNY

MYR

THB

IDR

LCS Transaction

Transfer in foreign currency can only be transferred to all bank in currency Country

e.G JPY to Bank in Japan

CNY to Bank in China

Transfer in Rupiah can only be transferred to ACCD1) Bank in China, Japan, Malaysia, and Thailand

Amount per transaction for Underlying Document Requirement of Foreign Currency Transaction (Buy/Sell)

> ekv. USD 500,000

Any amount

≥ ekv. USD 200,000

-

Amount per transaction for Underlying Document Requirement of Transfer in Foreign Currency & Rupiah

≥ ekv. USD 100,000

Following the amount threshold of each LCS currency

Cut-off time

Value today2)

09.00

12.00

10.30

14.00

Note:

1) Appointed Cross Currency Dealer (ACCD) is the Bank appointed by Central Bank to facilitate LCS transaction.

2) Value Today is fund received by the Beneficiary Bank on the same day. Value Today transaction is available before the cut-off time for each currency

Fees, Charges, and Limit


Information

Currency

JPY

CNY

MYR

THB

IDR

Telex

IDR 50,000

Value Today

IDR 30,000

Full Amount3)

Min. JPY 3,000*

ekuivalen USD 25

IDR 200,000

Provisi in Lieu4)

0.125% x nominal transfer
(min ekv. USD 5; maks USD 150)

Flat USD 5

-


Note:

3) Full Amount is transaction received in full by the Beneficiary

*) Full Amount fee of Min. 3,000 JPY is only for transactions to ACCD Bank as follows:

  • Sumitomo Mitsui Banking Group
  • Bank of Tokyo (MUFG)

4) In Lieu Provision is the fee charged if the currency’s source of fund is the same as the currency of the transaction.

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