Last updated on December 10th, 2024 at 10:42 am
These days, there is a growing need to send money abroad, whether for personal or business purposes.
However, when sending money abroad, you often have to figure out which service is the best—or, more precisely, find a smart remittance the best option for sending foreign currency at low cost and in an easy way. If you have a BNI bank account, congratulations! You can transfer money abroad through BNI right now.
Bank Nasional Indonesia understands the various business and personal needs of its customers who want to easily send money overseas. What is the easy way to transfer money overseas through BNI?
Can BNI Bank Make International Transfers?
Right now, you can send money to your siblings or relatives business abroad by using the International Remittance service available through the BNI Mobile Banking app. Using your smartphone, you can easily send money overseas.
In addition to using the BNI Mobile Banking app, there are several ways you can send foreign currency abroad, provided you are a BNI bank customer.
How to Transfer Money Overseas Using BNI Smart Remittance
Smart Remittance is a service offered by Bank BNI that allows you to send funds both domestically and internationally in various currencies (Outgoing Transfers), as well as receive funds from abroad into Indonesia (Incoming Transfers).
Incoming Transfer (ITR)
To receive money transfers from abroad using Bank BNI, there are several benefits you can enjoy, namely:
- BNI ITR Account: Send money from abroad directly to your BNI account.
- ITR for non-BNI accounts: Money transfers from abroad to domestic bank accounts in Indonesia other than BNI.
- BNI Wesel PIN: Money transfers from abroad that can be collected in cash at various BNI outlets, post office, Alfamart, Pegadaian, Agen 46, and other BNI Wesel PIN payment agents.
- BNI Mobile Remittance (BNImore): A digital innovation from BNI to make it easier to send money from Singapore to Indonesia. Accessible via mobile phone anywhere and anytime.
- Fast, easy, and secure money transfers from abroad.
- An extensive network of correspondents abroad.
- Competitive rates.
In addition, there are several requirements that must be met to receive money from abroad using Bank BNI, including:
- The sender visits a BNI remittance agent or correspondent abroad, submits the remittance amount and identification, and fills out a money transfer form or uses the correspondent’s digital app.
- Recipients who pick up money transfers at a BNI branch using the BNI Wesel PIN service must present their PIN and a valid ID (KTP or SIM).
- Money transfers received in a BNI savings account can be withdrawn via a BNI ATM, a BNI branch, or a 46 agent.
Outgoing Transfer (OTR)
What about those of you who want to send money from abroad or to another country? BNI Smart Remittance offers several advantages, such as:
- Multi-currency: A money transfer service that accepts 125 different local currencies from various countries.
- Yuan Remittance, Won Remittance, and Ringgit Remittance: Making it easy to send money to countries such as China, South Korea, and Malaysia.
- OTR Local Currency Settlement (LCS) Product: A money transfer service that allows users to send and receive funds in Malaysian Ringgit and Thai Baht (MYR and THB).
- OTR Mobile Features: Money transfers can be made through the BNI Mobile Banking Personal app.
- Competitive rates.
- Fast—money transfers can be received on the same day, subject to applicable terms and conditions.
To make an outgoing transfer using Bank BNI, you must meet several requirements, such as:
- Is a BNI customer (not a walk-in customer).
- Bring your savings book to a BNI branch and pay the shipping fee as required.
- Bring the relevant supporting documents required for the OTR transaction.
Sending Money Abroad Through a BNI Branch
There are various ways for BNI Bank customers to transfer money overseas. There’s no need to use remittance services, which often come with taxes and high service fees.
You can simply visit a BNI branch to send money overseas by following these steps:
- Gather Your Documents and Information: Make sure you have your BNI account, ID card, and passbook.
- Find the Nearest BNI Branch: Find the BNI branch closest to your location.
- Visiting a BNI Branch: Once you arrive at the BNI branch, tell the bank teller that you would like to make an international transaction.
- Filling Out the Form and Submitting Documents: A bank representative will provide you with a form to fill out. Be sure to include all the required documents:
- Contents swift code (or BIC code) of the recipient bank. If you don't know this code, you can ask a bank teller or look it up at theswiftcodes.com.
- Enter IBAN CODE (International Bank Account Number) or the international bank account number of the recipient bank.
- Enter the name of the recipient's bank, the country, the recipient's name, and the amount to be sent.
- After you have finished filling out the form, give it to the teller along with the money to be sent and the applicable transfer fee.
- International Remittance Process: A BNI representative will process your international transaction after receiving all the necessary documents and information.
Sending Money Abroad via Mobile Banking
Another, easier method that can be done at any time is to use the BNI Mobile Banking app. There are a few steps you need to follow—what are they? Here are the steps:
- Open the BNI Mobile Banking App: Open the BNI Mobile Banking app and go to the home screen.
- Select Transfer: On the main page, select the “Transfer” option.”
- International Remittance Menu: In the Transfer menu, find and select the “International Remittance” option.”
- Read the Terms and Conditions: After carefully reading the terms and conditions, click the “Continue” option.”
- Select Debit Account Number: Select the BNI account number you want to use for the transfer.
- Select New Input: In this menu, select “New Input.”
- Select the Destination Country: Select the country where you will be sending money.
- Select the Destination Bank: Next, select the recipient bank in your destination country.
- Recipient Details: Enter the account number or IBAN recipient, then enter the recipient’s name and address. If you want to save the recipient’s account number as a favorite, check the “Save to Favorites” box and enter a short name.
- Enter the Amount of Money and Shipping Costs Correspondent Bank: Specify the amount you want to send in the selected currency (for example, U.S. dollars, euros, etc.). Next, select the “Correspondent Bank Fees” option.”
- Select Transaction Purpose: You will be redirected to the validation page. Enter your transaction password.
- Click “Continue”: Once all the information has been entered and the transaction has been validated, click the “Continue” option to complete your transaction.
How Long Does It Take to Transfer Money Overseas?
As for how long it takes to transfer money overseas using Bank BNI, there is no set timeframe. You can ask a teller directly before sending money overseas.
However, some experiences suggest that if send money abroad By using Bank BNI, you can receive the funds immediately after all the procedures have been completed.
However, when using BNI Mobile Banking, the process may vary; it may take several hours for the funds to be received. This also depends on the amount you’re sending, and if it’s not a business day, the transfer may be delayed by a few hours.
Can BNI Taplus Be Used Abroad?
BNI Taplus is a type of Bank BNI account intended for business purposes and also for saving. However, BNI Taplus can actually still be used to transfer money overseas.
However, certain limits still apply: transfers to other BNI Bank accounts are capped at Rp. 100 million per day, while transfers to other banks are limited to Rp. 25 million per day.
Alternatives for Sending Money Abroad
If you want to transfer money overseas easily and are guaranteed to get a wide variety of attractive offers, you can use Easylink’s remittance services.
Easylink makes it easy for you to send money overseas to more than 170 countries, whether for personal or business purposes.
