What Is Bilyet Giro: Here's An Explanation, Terms And How To Disburse It

What Is Bilyet Giro (Van Tay Media Image - Unsplash)

YOGYAKARTA - The term bilyet giro (BG) can be rarely heard, but it seems that many people use bilyet giro in banking transactions for various purposes. So, what is a bilyet giro?

In simple terms, Bilyet giro is a non-cash payment instrument in Indonesia. The name bilyet giro is also used by a bank customer to give orders to banks to transfer some money to recipients.

Another simple understanding of the designation also means a payment mechanism or it can be called the cash disbursement that applies to the giro account. The use of this bilyet giro has many benefits in banking transactions. One of them is the ease of carrying out large amounts of transactions.

Meanwhile, quoted from the Bank Indonesia (BI) website, bilyet giro is a warrant from a customer of a giro account to the bank concerned to transfer several funds from his account to the account of the recipient of the funds mentioned.

Bilyet giro requirements according to BI provisions:

With the issuance of Bank Indonesia Regulation (PBI) Number. 18/41/PBI/2016 concerning Bilyet Giro, there are several things that deserve attention from attractors (principles of bilyet giro), including:

Bilyet Giro Rules

Not only requirements, you must also recognize the rules that apply to Bilyet Giro so that this payment instrument is used in accordance with applicable conditions.

How To Disburse Bilyet Giro

The method of diluting bilyet giro is fairly easy, but one thing that must be considered from the process of disbursing bilyet giro is not the same as checking. You can't withdraw cash nominal funds in the bilyet giro payment instrument.

Because the order only takes place the transfer of funds from the account of the customer giro to the account of the recipient. The transfer of the funds was only processed after the handover by the recipient to the bank. Keep in mind that the bilyet must be handed over to the bank within 70 days from the date of withdrawal.

By following orders, the bank will transfer funds from the interest deposit account to the recipient's account. After that, you can carry out cash withdrawals from your account.

How To Cancel Bilyet Giro

In principle, the giro cannot be canceled because there are clear and binding rules. However, the giro can be blocked for strong reasons.

The procedure for canceling the bilyet, mandatory with proof of the cancellation letter intended for the bank, mentions nobilyet, date of withdrawal and transferred funds.

If blocking the missing bilyet, the attractor is obliged to show a certificate from the police. On the other hand, if the bilyet is damaged, the attractor must bring a damaged bilyet.

Meanwhile in our article there is news; 'Suspect of Counterfeiting Bilyet Giro BNI Detained by the Makassar Kejari' whose evidence is in the form of property and precious metals.

So after knowing what a bilyet giro is, see other interesting news on VOI.ID, it's time to revolutionize news!