Interbank Transfer Fee Of IDR 2,500 Via BI Fast Applicable Next Week, Here's A List Of 22 Banks

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) on December 21 will launch BI FAST as a retail payment infrastructure that is real time and operates 24 hours 7 days a week.

Governor Perry Warjiyo said that this step was a digital innovation of the retail payment system in realizing fast, easy, cheap and reliable payment services.

"God willing, BI Fast will launch on December 21 and will operate non-stop," he said in a virtual press conference after holding the Board of Governors' Meeting, Thursday, December 16.

For information, BI Fast is the latest facility from the central bank to replace the Bank Indonesia National Clearing System (SKNBI). This is stated in PADG No. 23/25/PADG/2021 concerning the Implementation of Bank Indonesia-Fast payment (BI-FAST) which is effective from 12 November 2021.

Meanwhile, the price scheme stipulated in BI Fast consists of several provisions. First, the price from the organizer to the participant is Rp. 19 per transaction.

Second, the maximum price from participants to customers is IDR 2,500 per transaction or slightly lower than the SKNBI price scheme. This second provision can be directly felt by the public by reducing interbank transfer fees to Rp.2,500 from the previous average of Rp.6,500.

"The price scheme will be lowered gradually based on periodic evaluations," said the BI Governor.

BI Fast implementation itself will be carried out in two waves. The first is on December 21 with 22 participating banks and the next will be in January 2022. The following is a complete list of participating banks for the first phase next week.

1. State Savings Bank (BTN)

2. DBS Bank Indonesia

3. Gem Bank

4. Bank Mandiri

5. Bank Danamon Indonesia

6. CIMB Niaga Bank

7. Bank Central Asia (BCA)

8. HSBC Bank Indonesia

9. Bank UOB Indonesia

10. Mega Bank

11. Bank Negara Indonesia (BNI)

12. Indonesian Islamic Bank (BSI)

13. Bank Rakyat Indonesia (BRI)

14. Bank OCBC NISP

15. UUS State Savings Bank

16. UUS Permata Bank

17. Bank Cimb Niaga UUS

18. Bank Danamon Indonesia UUS

19. Bank BCA Syariah

20. Bank Sinarmas

21. Citibank NA

22. Woori Brothers Bank of Indonesia