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For those who transact frequently, especially through banking apps, do you know what BI Fast is?
As you know, the most used banking service is money transfer. Be it interbank, interbank or other methods.
To meet the growing demand for bank payments, BI has launched a payment system to facilitate money transfer activities, namely through BI Fast.
What is BI Fast?
BI Fast is an infrastructure developed by Bank Indonesia in the form of optimizing the national retail payments system to be more efficient At presentEasy, and can be accessed at any time.
Launched in December 2021, Bi Fast is not a standalone app and you can download it via Google Play Store or Apple App Store.
Instead, it is an equivalent propulsion system to other propulsion systems or SKN and RTGS. The payment system applies to the banks you are currently using.
Not all banks can use the BI Fast facility. Bank Indonesia itself applies many requirements to banking companies. In addition, implementation will be carried out in phases in accordance with the plans and readiness of the banking industry.
(Also read: La Millennial Savings Tips, Easy to Try!)
What are the advantages of BI Express?
BI Fast allows the interbank payment system to be easier and more flexible in the form of,
- Transfer can be done directly At present for 24 hours.
- Uses BI Fast proxy address Which allows you to make transfers without the need for an account number and using only a mobile phone number and E-mail.
- because it is At presentThe BI Quick Payment System is capable of detecting fraud, anti-money laundering, and financing gray or black parties such as terrorism.
- The interbank transaction fee is only IDR 2,500 and can gradually decrease according to periodic assessments every year.
- The bank can set its own transaction limit policy
It should be noted that the BI Fast service is currently only available through the app cell phone And the teller bank. In 2023, BI Fast services will expand to include Discount Transfers (ATM), wholesale discountday Payment request.
In addition, BI Fast Services in the future will develop and penetrate other digital payment systems such as QRIS, transactions based on financial instruments or other digital payment systems. cross border.
What makes BI Fast different from other payment systems?
temporary. BI Fast also has advantages that other payment systems do not have, such as transfers Onlineand the National Clearing System (SKN) and Real total time settlement (RTGS), including the following,
- There is no nominal minimum for Bi Fast and SKN. However, at present, BI Fast has a transaction limit of IDR 250 million per transaction and a SKN of IDR 1 billion per transaction.
- Meanwhile, the transaction value of RTGS exceeded IDR 100 million and transactions Online IDR 25,000,000 to IDR 50,000,000 per transaction.
- BI Fast is available 24 hours a day At present. While SKN and RTGS are generally performed during bank business hours (08:00 – 14:35)
- In the future, Bi Fast will expand to include digital payments and automated teller machines. Meanwhile, SKN and RTGS can only be accessed via teller And the cell phone/Internet.
- Bi Fast has alternative transactions without the need for an account number, while other transactions require an account number.
Banks currently using BI Fast
Since its launch in December 2021, 22 banks have been registered as participants in BI Fast, namely:
For the second stage, there are 22 potential participating banks, and they are;
- Sahabat Sampoerna Bank (BSS)
- in the bank
- Maspion Bank
- Cape Hana, Indonesia
- Rakyat Indonesia Agroniaga Bank (Raya Bank)
- Ina Perdana
- Mandiri Taspin Bank
- Nobu Bank
- Jatim Bank and its Sharia Business Unit
- Mustika Dharma
- Sharia Business Unit OCBC NISP
- BCA Digital Bank
- Sinarmas Islamic Sharia Bank Business Unit
- Central Bank of Java and its Sharia Business Unit
- Standard Chartered Bank
- Bali Regional Development Bank
- Bank of Papua
- Ganesha Bank
- Maltira Sentosa
To be able to enjoy the BI Fast feature, you of course have to be one of the customers of the above-mentioned banks. So, if you want to open a bank account and get various banking facilities including BI Fast, you can search for it on CekAja.com
(Read also: Types of savings in Indonesia)
Here are recommendations for the best savings to get with the BI Fast facility:
- Danamon D Sif
2. Danamon D-Save iB
Through CekAja.com, you can find many best savings product according to your needs.
Not only that, but you can also directly apply for a savings registry application directly through CekAja.com without having to go to the bank. Easy isn’t it? Come, find the best savings product through CekAja.com Immediately!