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Category : Current Deposit, Time Deposit
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Deposit currency : USD, IDR (Indonesian Rupiah)
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Required documents for opening an account :
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Individual : Passport or resident card (KITAS)
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All the following documents must also be presented:
1. Notarial deed from the ministry of justice(akte pendirian dari departemen kehakiman)
2. Business licence from the ministry of Trade(ljin-ijin usaha dari departemen perdagangan), SIUPP,TDP,SK KEHAKIMAN
3. Tax payer code number (NPWP), BKPM(in case of PMA Account), DOMICILE LETTER
4. Identity card (SIM, KTP, PASSPORT)
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Others :
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U.S. notes must be in excellent condition. Only notes in mint condition are accepted without
surcharge being charged. You have to pay a 1% surcharge if you want to deposit US notes that are old, crumpled, or when handwritten and stamp messages are added to them.
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If you want to withdraw U$10,000 or more (IDR100,000,000 or more), you have to give a day's notice to the bank.
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Current Deposit
This deposit is the equivalent of a savings account, allowing account holders to deposit and withdraw cash anytime. It is normally a non-interest-bearing account, and a checkbook & girobook are issued for this account.
The minimum initial deposit is U$1,000 or IDR5,000,000. Currently, special interest is paid based on the monthly average balances as follows :
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| Currency |
Monthly average balance |
Special interest rate |
| USD |
Less than U$ 1,000 : 0.1% / More than U$ 1,000 : 0.2% |
| IDR |
More than IDR 1,000,000 |
IDR More than IDR 1,000,000 : 2.0% |
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The bank charges commission for USD cash withdrawals
(less than USD10,000:0.625%, more than USD10,000:1%)
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Time Deposit
We offer different interest rates depending on the deposit period as set out in the table below. The minimum initial deposit is U$1,000 or IDR5,000,000. If you do not terminate the time deposit in the period stated, then it will automatically rollover. We also pay additional interest for large deposits.
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| Currency |
1 Month |
3 Months |
6 Months |
12 Months |
| USD |
0.8 % |
1.0 % |
1.25 % |
1.5 % |
| IDR |
6.0 % |
6.0 % |
6.25 % |
6.5 % |
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Remittance makes up the majority of our services because our subsidiary is capable of providing a fast and accurate service thanks in part to the small time difference (2-hours) between Korea and Jakarta. |
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Available currency for remittance
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USD and IDR
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Remittances in IDR to a non-Indonesian resident is limited to living expenses. You are required
to prove this with documents when you send the money.
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Time required for remittance
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It normally takes one business day for the funds to arrive.
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If you need to receive the money sooner, then you will need to use our "Speed Remittance Service". |
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Others
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You can receive the transferred funds by presenting your passport without having to open an account.
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Our bank gives a favorable FX rate for transactions greater than U$10,000.
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Our subsidiary does not handle Credit Card business.
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It's easy to locate our subsidiary in Jakarta as it's based in the downtown area, a premier transportation hub. |
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Currency
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USD and IDR Cash(Won is not available)
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Visa Traveler's Checks (KEB New York is designated as the paying bank)
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Others
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Our bank gives a favorable FX rate for transactions greater than USD 3,000.
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Traveler's Checks are very difficult to cash at other banks in Indonesia.
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U.S notes must be in excellent condition. Notes that are old, crumpled, written on or damaged in any way will be subject to a 1% surcharge.
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Our subsidiary is one of the banks, which are actively engaged in providing trade finance in Indonesia. We always try to cater for your export and import business needs by providing first-rate knowledge regarding the local trade laws and through our wealth of experience in international trading transactions. |
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Services
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Wide range of export and import-related services, including L/C notice, collection of export bills, L/C transfer, L/C opening and collection of D/A and D/P.
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Others
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Due to the precarious financial situation in Indonesia,local banks have difficulty in making payments for imported
goods and services and consequently the settlements of those import bills are delayed.
As a result, L/C's issued by Indonesian banks are still being rejected on the international market in many cases.
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Eligibility Requirements
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You are required to have a business permit under the local law.
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You need a good credit history in Korea.
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You meet other requirements specified in our loan policy.
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Category and Details of loans
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| (Unit : 1,000USD) |
| Category |
Trade Financing |
Working Capital Loan |
Facility Loan |
Guarantee |
| Secured |
Unsecured |
Secured |
Unsecured |
Secured |
Unsecured |
Secured |
Unsecured |
| Limit |
2,000 |
300 |
2,000 |
300 |
2,000 |
300 |
2,000 |
300 |
| Coverage |
L/C Opening
Import financing
D/P D/A exports
L/C Negotiation |
Initial working capital after inception
Working capital
Emergency fund. |
Factory purchase or construction costs |
Guarantee of custom duty
Bid-Bond
P-Bond
AP-Bond |
| Term |
1 year |
1 year |
5 years |
1 year |
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Any loan amount exceeding the following limits is subject to the headquarters' approval
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Collateral
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In Indonesia
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Immovable property: Factory and Apartment (possible for only corporate possession)
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Deposit in bank
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In Korea
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Immovable property: Factory, Apartment, Building and House
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Deposit in bank
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Stand-by L/C
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Guarantor
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Unsecured loans are possible but dependant on an excellent credit rating
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Guarantors (parent company or more than two other people) are needed for unsecured loans.
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