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Disclaimer: this is a simple tutorial for educational purpose.

interbank transfer
source: 123RF.com
This post is not sponsored and we are not liable should any loss or problems occur. Please contact the respective customer service instead.

Interbank Transfer via Digital Wallet

The upsurge of digital wallet apps along with numerous bank brands available in Indonesia can make fund transfer between different bank brand seems like a daunting task.

There are different bank codes assigned to each bank that the customer had to input, every bank charges handling fee for inter bank transfer (mostly IDR 6,500 or around $0.5). Not to mention the long account number and the uncertainty whether you inputted the correct string of numbers or not.

Charge

Some M-banking apps, such as Jenius by BTPN and Flip.id does offer free inter bank transferral charge although with limitations. In Jenius, each customers are given free quota for interbank transfer each month based on your account tier and balance (from fifteen times a month up to twenty-five times).

Whilst flip.id on the other hand, limit its customers to the amount of five million Rupiah (Rp 5,000,000 is roughly about $357) each day in order to enjoy charge-free transactions.

Alternative Tutorial

But, what if there’s an alternative, easier way to interbank transfer without signing up for newer apps?

Firstly, you need to download OVO and sign up for its premier access to be able to transfer funds. Upgrading the account tier to premier is free, all you need to do is visit one of OVO’s booth and fill the form along with your identification card or passport. There are no top up charge for 13 banks, and top up via partnered merchants are readily available as well.

interbank transfer

Steps to transfer to interbank transfer:
1. Open up your OVO application and tap on “Transfer”
2. Input the amount of funds that you would like to transfer
3. Ensure to select “Rekening Bank” (Bank Account)
4. Select the Bank Brand (no Bank Code needed!) and input the account number on the appropriate field.
5. Double check your details and select “Transfer”

interbank transfer
the app also checks the name of the account holder

6. OVO will display the confirmation screen. Tap on the Konfirmasi (Confirmation) button to proceed, and you’re done! Screen capture the transferal proof if you need it.

There are no limitations for inter bank transfer stated explicitly, although the maximum amount of funds that a premier account can hold is Rp 10,000,000 (about $714). Enjoy your free interbank transfer!

Note:

Please take caution when transfer an enormous amount of funds, as the transferal process relies on signal strength. Take notes that top-up problems do occur from time to time. Ensure you have a great connectivity and refrain from transferring recklessly to unknown parties.

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