BCA - Local Currency Settlement

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

100% Telex Fee Cashback for every LCS transaction in MYR, THB, and CNY currencies, valid until 30 June 2023

Important Information

Informasi	Mata Uang
Informasi	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
Information	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.