Danamon Is More Pro, Present As A Foreign Valuta Savings Product With Various Features

Photo: Doc. Danamon

JAKARTA - As a bank with a commitment to always be able to meet the financial needs and banking of the people who continue to change following the times, PT Bank Danamon Indonesia Tbk (Danamon) understands that the needs of the community regarding foreign exchange transactions continue to evolve over time. With that spirit, Danamon introduced Danamon More Pro which is equipped with 9 currencies at once in 1 savings, a bold exchange rate, and various features and facilities #Many More.

Foreign exchange-based savings products were initially only used by business customers, especially those involved in international trade and are required to have different accounts for each currency. Multi-currency accounts (MCA) were then born as a solution to answer inter-state transaction needs. Globalization and e-commerce, which continue to increase from year to year, are also increasing the need for MCA for customers at an individual level.

To better understand these developments and needs, Danamon collaborated with the research institute Jakpat, a pioneer online market research company, in June 2024 to study the needs of four categories of customers, namely parents who have children studying abroad, travelers, traders (individuals involved in the purchase and sale of financial assets), and entrepreneurs (including entrepreneurs and freelancers).

This research found that from each category of respondents, the main thing that became the main concern or pain points in using MCA products were less competitive exchange rates, less competitive transfer fees, could not carry out foreign exchange transactions directly in mobile banking, as well as limited foreign exchange options.

For MCA savings, having a competitive exchange rate is very important because it directly affects the cost of converting currency for customers. If the exchange rate offered is less competitive, for example due to a higher margin or markup, customers must spend more money when converting the currency. This can have a significant impact, especially for individuals who have high inter-state mobility and various transaction needs, such as for educational, travel, and business purposes. With competitive exchange rates, customers can get more value from their money, while reducing transaction fees across countries.

"Danamon understands that each customer has different needs for foreign exchange savings products at every stage in his life. That is why Danamon presents foreign exchange-based savings with truly diverse features and capable abilities that are able to accommodate these various needs, especially presenting exchange rate features that dare to be pitted against. This is in line with Danamon's commitment with the company group and its strategic partners to become trusted financial partners, who are customer-oriented and always innovate to meet customer financial needs so that we can grow together," explained Consumer Funding & Wealth Business Head, PT Bank Danamon Indonesia Tbk, Ivan Jaya, in a written statement, Friday 30 August.

Armed with this understanding, Danamon launched a MORE PRO Danamon savings product to pamper loyal customers with various features and advantages in transactions using foreign exchange, such as:

Features with 9 currencies (IDR, USD, SGD, CNY, JPY, AUD, EUR, GBP, NZD) at once in 1 savings; Here is a bold exchange rate, in which Danamon replaces 5X the difference if there is a more competitive rate; More Pro Danamon Debit Card supported by Mastercard can help customers transact overseas very easily, because transaction fees are free, auto Switching Currency (for example, if customers transact with Debit Danamon Card is more pro in Singapore, transactions will automatically debit SGD currency balances), and can take cash in ATMs within the Mastercard network at a more cost-effective cost; Buy banks of notes with real time rates in D-Bank PRO; and good competitive remittance costs.

More Pro Danamon Savings also provides many attractive offers and promos, such as: 5 percent Cashback if using Danamon More Pro Debit Cards for all transactions abroad and even for domestic transactions specifically at gas stations and supermarkets or Minimarkets. Access to free cash withdrawal fees at any ATM is 99x per month and free BI-FAST transfer fees as much as 99x per month for domestic transactions.

All the features and facilities that #ManyMore can be enjoyed by customers are only by maintaining a monthly average balance of IDR 5 million. Not only that, customers who save with Danamon More Pro also automatically have the opportunity to take part in the lottery program with prize Danamon Prizes. Bertuntun, where they can win prizes that are drawn every 4 months and a grand prize at the end of the period. For more information, visit bdi.co.id/dlpro.