25 Jun 2024 | Edukatips

Here’s How to Transfer Forex Using Poket Valas on myBCA

Forex Savings is a specialized savings service provided by banks to facilitate the storage and management of funds in foreign currencies. Similar to traditional savings accounts, forex savings accounts also share the same functions in storing and facilitating non-cash financial transactions.

With Poket Valas on myBCA, owners of Tahapan and Tahapan Gold accounts can easily save and transfer funds to other BCA accounts or Poket Valas in foreign currencies.

Eligible Foreign Currencies for Poket Valas: 

Poket Valas supports 8 foreign currencies, including:

  • United States Dollar (USD)
  • Singapore Dollar (SGD)
  • Australian Dollar (AUD)
  • Euro (EUR)
  • Pound sterling (GBP)
  • Hong Kong Dollar (HKD)
  • Japanese Yen (JPY)
  • Chinese Yuan (CNY)

Benefits of Using Poket Valas on myBCA

Poket Valas is a feature on myBCA that facilitates foreign currency transfers easily and quickly.Listed below are the benefits of using Poket Valas on myBCA:

  1. Consolidate various forex currencies within a single account
  2. Easily transfer funds between BCA accounts in foreign currencies
  3. Enable cash withdrawals and overseas transactions without exchange rate conversion (1:1) by directly debiting funds from Poket Valas* using a BCA Debit Mastercard

*Ensure that the balance in Poket Valas is sufficient to avoid declined transactions. If the overseas transaction is in a currency that is not available in Poket Valas, the transaction will be debited from the main account in Rupiah.

How to Activate Poket Valas on myBCA App

To use Poket Valas, activate the service by following these steps:

  1. Log in to myBCA
  2. Click Activate Now in the Poket section, click Next
  3. Click Activate Poket Valas, read the Poket Valas Product and Service Information Summary, check the box and click Agree
  4. Choose the source of funds** 
  5. Specify the currency and initial deposit amount
  6. Choose the transaction purpose and click Next
  7. Read the Poket Valas Terms and Conditions, check the box and click Next
  8. Read the Foreign Exchange Purchase Statement andclick Agree
  9. Confirm the activation details of Poket Valas and click Next
  10. Enter your PIN and the initial deposit is complete, Poket Valas is now active***

**The account used to activate Poket Valas is also known as the parent account

***By activating Poket Valas, the ownership status of the customer’s TAHAPAN BCA passbook of the parent account (the account that has Poket Valas) will automatically change to ‘no book. Therefore, the customer will not be able to apply for book issuance or printing of account statements to the TAHAPAN BCA passbook, even if the customer deactivates Poket Valas at a later date.

How to Use Poket Valas on myBCA App

There are some Poket Valas settings that you can perform on myBCA, such as balance inquiry, adding funds, and transferring funds between foreign currencies.

Check Poket Valas Balance

  1. Log in to myBCA
  2. Click See More in the Poket section
  3. The balance of Poket Valas will appear

Adding Foreign Currency Fund in Poket Valas

  1. Log in to myBCA
  2. Selectthe desired currency in the Poket section
  3. Select Add Funds
  4. Select the source of funds
  5. Select the base currency, then fill in the amount
  6. Choose the purpose of the transaction and click Next
  7. Read the Foreign Exchange Purchase Statement and click Agree
  8. Confirm the transaction details and click Next
  9. Enter your PIN and the fund addition is successful

Transferring/Moving Funds between Foreign Currencies in Poket Valas

  1. Log in to myBCA
  2. Selectthe desired currency in the Poket section
  3. Choose Transfer
  4. Select the beneficiary account in the Transfer List
  5. Select the source of the fund
  6. Select the recipient currency and the base currency and enter the amount
  7. Select the Transaction Purpose and click Next
  8. Read the Foreign Exchange Purchase Statement and click Agree*
  9. Confirm the transaction details and click Next
  10. Enter your PIN for a successful fund transfer

In addition to using the Poket feature, you can transfer funds between foreign currencies through the Transfer feature.

*Customers must agree to the Foreign Exchange Purchase Statement when transferring from Rupiah to a foreign currency. 

That’s how you can activate and use the Poket Valas service on myBCA. 

With Poket Valas on myBCA, saving, and making forex transactions and transfers has never been easier. What are you waiting for? Use Poket Valas on myBCA now! For full information, please check here.

FAQs

  • Is there an additional administration fee or monthly administration fee for Poket Valas?
  • No, there are no additional administration fees or monthly administration fees for activating or using Poket Valas.

  • Is there a transaction fee for Poket Valas with a BCA Debit Mastercard?
  • Transaction fees for Poket Valas follow the transaction fees of the BCA Debit Mastercard, which can be found on the following page. 

  • Does the balance in each Poket Valas currency earn interest?
  • No, balances in each Poket Valas currency do not earn interest.

  • Can Poket Valas be deactivated?
  • Yes, Poket Valas can be deactivated through myBCA by:

    1. Log in to myBCA
    2. Click See More in the Poket section
    3. Click the icon on the top right corner, then click Deactivate Poket Valas
    4. Follow the next steps

    If there is still a balance in Poket Valas when deactivating, all funds will be transferred from Poket Valas to the fund source account.

  • Does a transaction using Poket Valas require an Underlying Document?
  • Transactions are required to use Underlying Documents if the accumulation of foreign exchange transactions against the Rupiah in one month has exceeded (≥) USD 100,000 (equivalent). For more information on Underlying Documents, please check here.

  • How do I check my account statements after activating Poket Valas?
  • You can view account statement information through the e-Statement feature on myBCA and KlikBCA. Additionally, you can also check Poket Valas account statements through the Poket feature on myBCA.

  • Can Poket Valas be used as a source of payment funds in Indonesia?
    Payments in the territory of the Republic of Indonesia (NKRI) must use the rupiah currency (IDR).