Jakarta, CNN Indonesia —
Bank Indonesia (BI) cut the maximum interbank transfer rate to IDR 2,500 per transaction through the national retail payment system BI Fast. It is planned that this system will be implemented from mid-December by 22 banks.
BI Governor Perry Warjiyo revealed that interbank transfer fees via BI Fast are cheaper than currently applicable. It is noted that the transfer fee through the BI National Clearing System (SKNBI) is IDR 2,900 per transaction. Likewise, when compared to the National Payment Gateway (GPN) which reached Rp6,500 per transaction.
“This is cheaper than SKNBI, but the benefits, BI Fast is much greater because it can make transactions 24 hours, while SKNBI is only from morning to evening. This rate is also the maximum limit, for banks that can offer cheaper, please, we support,” said Perry in a virtual press conference last Friday (22/10).
Perry assesses that the reduction in fees will make customers more frequent transactions and the volume of transactions will increase. Thus, it is hoped that this policy will not interfere with banking non-interest income.
Later, the amount of the transfer fee will be evaluated periodically.
In addition, Perry also believes that the BI Fast system can reach customers who were previously unreachable by banks.
The central bank also sets a limit for transfer funds at BI Fast, which is from Rp. 1 to Rp. 250 million per transaction. This transfer limit will also be evaluated periodically.
When compared to the Real Time Gross Settlement (RTGS) payment system, the transfer value is much higher. The reason is, in the RTGS payment system, the amount of transfer funds is set at IDR 100 million to IDR 250 million.
“This is because BI Fast is for retail transactions, which are smaller, but it’s up to the public to choose which one, use BI Fast or RTGS,” he said.
Currently, the central bank noted that there are 22 banks that have registered to be able to provide transfer services through BI Fast. Operations will begin in mid-December 2021.
They are BTN, Bank DBS Indonesia, Bank Permata, Bank Mandiri, Bank Danamon, Bank CIMB Niaga, BCA, Bank HSBC Indonesia, Bank UOB Indonesia, and Bank Mega.
Then, BNI, BSI, BRI, Bank OCBC NISP, UUS BTN, UUS Bank Permata, UUS CIMB Niaga, UUS Bank Danamon, BCA Syariah, Bank Sinarmas, Citibank, and Bank Woori Saudara Indonesia.
BI provides flexibility for these 22 banks to provide supporting infrastructure in accessing the BI Fast system independently, sub-independently or in partnership, and sharing among several participants.
Going forward, BI will open the door for other banks to implement the new retail payment system.
If the relevant banks meet the readiness requirements in terms of infrastructure, technology, and human resources, the national central bank will add them to the BI Fast system every six weeks on a regular basis.
(sfr)
– .
