Money transfer is one of the many financial transactions available today. Money transfers can only be made for small amounts, be it IDR 100,000 or less. The money transfer process can be done in a number of ways, from using mobile banking to ATMs and postal services.

in most cases Money transfers must be made in large numbers in a short period of time. For example, large companies transfer nominal amounts of over 1 billion to pay employees’ salaries or to pay orders to vendors.

Normally, the process of transferring that amount cannot be done through ATMs or general Mobile Banking due to the limited amount that users have to transfer every day. What if you have to send large amounts of money? Here’s how:

How to transfer large amounts

1. Using a special ATM

Each ATM has its own transaction limit, so make sure you choose an ATM with a limit that suits your needs. If you want to transfer large amounts of money, choose a Platinum type ATM.

Because this ATM can be used to transfer money within the limit of IDR 100,000,000 to other banks. bank transfer The maximum transfer amount varies according to each bank’s policy.

2. Use real-time online (RTO) system

In addition to using special ATMs You can also transfer large amounts of money using mobile banking or internet banking using Real Time Online (RTO) as the name suggests. Recipients can receive the money you transfer using this system in real time (directly).

However, transfers using this system have a small transfer limit of IDR 100,000,000, meaning you cannot send more than 100 million using this method.

for a fee There is currently a BI-Fast system that allows you to send money using RTO and ATM systems for a fee of IDR 2500 per transaction, although you will need to use the normal transfer mechanism. Fees are approximately IDR 6,500-IDR 7,500 per transaction.

3. Use the National Clearing House (SKN) system.

If you want to send money worth more than 100 million rupiah, another way to send is using the National Clearing System (SKN), also known as the giro traffic system (LLG). The advantage of this system is that you can use it to transfer money. Earn up to 1 billion rupiah for only IDR 2,900 – IDR 5,000 per transaction.

The downside is that the money you send will only reach the recipient within a few business days. This is especially true if you’re sending to an account from another bank. The reason is that the bank has to do a pre-clearing for every money you send. Also, to use this service, you must also visit a bank teller. Therefore, you must prepare time to queue at the bank.

4. Using the system Real Time Gross Settlement (RTGS)

Want to transfer more than 1 billion rupiah But want to be fast? Then you can use the services of the name bank. Real Time Gross Settlement (RTGS). With this system, you can send up to 1 billion rupiah. And it only takes 4 hours before the money reaches the recipient.

as well as clearing You will be able to enjoy this service only if you come to the bank and hand over the money to the cashier. You should also send money before 3:00 PM, not before holidays or the end of the month. Because your transaction will reach the beneficiary later. because during this time Banks are going through daily and monthly closures and public holidays.

because there is a faster service It is not surprising that the transaction cost using RTGS is more expensive than using LLG. The transaction fee you have to pay to use this service is IDR 25,000 – IDR 50,000 for 1 transaction.

5. Use of payment gateway applications

One of the most innovative payment methods available in the Indonesian economy today is payment gateway application. With this application You can automatically receive payments from your customers. Even if the customer uses a variety of payment methods.

not only that Many payment gateway applications also offer transfer features and work with hundreds of local and international banks. This transfer feature lets you send large amounts of money to many people at once.

For example, the payroll of 1,000 employees, which in total exceeds 1 billion rupiah. All you need to do is upload employee information along with the salary given in the application. no matter which bank name the employee uses The money you sent will arrive on time.

In addition, many payment gateway applications offer international money transfer services. So if you have employees living abroad You can still pay using this application.

The charges for using this application will vary depending on the payment gateway application you use. Because each subscription requires different cost details. Therefore, to choose the best payment method for you. Please contact the agent first to explain the fee and service structure.

Huge transfer fees

as mentioned above The cost of bulk transfer varies depending on the type of service you use. For the RTO system, the fee is between IDR 2,500-IDR 7,500 per transaction, while the LLG system costs IDR 2,900 – IDR 5,000. per transaction and the RTGS system costs IDR 25,000-IDR 50,000 per transaction.

A small fee will differ again if you use a transfer service from a payment gateway application. This is because you need to send large amounts of money to multiple accounts at the same time. So the process is quite complicated. The amount of this fee will certainly be greater if you Send large sums abroad (Money transfer service). This is because banks and other financial companies have to establish cooperation with other banks and financial companies located in foreign countries. The process became even more complicated.


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