List of 42 Banks whose Transfer Fees Dropped to IDR 2,500

Jakarta –

BI-FAST participants now number 42 banks and 1 non-bank institution. Through BI-FAST membership, interbank transfer fees are cheaper, at IDR 2,500 per transaction.

In wave 1 there are 21 banks registered in BI-FAST, and in wave 2 there are 21 banks plus 1 non-bank institution. BI-FAST is a payment system infrastructure provided by Bank Indonesia (BI) that can be accessed through applications provided by the payment system industry in facilitating retail payment transactions for the public.

“With a total of 43 BI-FAST participants (including the first batch of BI-FAST participants), they represent 81.45% of the share of the national retail payment system,” said Head of the BI Communications Department Erwin Haryono in a press release on Monday ( 31/1/2022).

In this 2nd wave, there is one non-bank participant implementing BI-FAST, namely PT Kustodian Sentral Efek Indonesia (KSEI). Thus BI FAST can support the digitization of transactions in the capital market.

BI stated that it would continue to strengthen BI-FAST policy and implementation synergies with industry players, in order to integrate the national Digital Financial Economy (EKD).

“With BI-FAST, it is hoped that industry players will continue to innovate by optimizing the added value of the consumer-centric BI-FAST service to increase financial inclusion and accelerate economic recovery through transaction efficiency,” Erwin added.

Go to the next page to find out a list of 42 banks and 1 non-bank institution that is a participant in BI-FAST.

Watch Videos “Register 21 Banks with Transfer Fees Only IDR 2,500“
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