Current Account is other party’s saving on Bank that the withdrawal can be done in every time by using cheque, bilyet and other payment instrument or transfers.
A. Benefit and Risk
Benefits 1.As fund deposits facility.
2.As facility to maintain customer's financial stability.
3.Provide safety fund depositing facility.
4.Covered by LPS appropriate with prevailing regulation.
Risk
1. Market Risk
Risk occurred due to market interest and foreign exchange fluctuation.
2. Operational Risk
The dysfunction of internal process, human error, system failure or external problem.
B. Procedures and Using Guidance
Comply with current account opening requirements as mentioned in current account opening application form. For example, free from National Black List issued by Bank Indonesia.
Application
Providing current account opening application, by attaching:
·Individual Copy of Identification Card / Passport / KITAS.
·Corporate Copy of deed of establishment, Article of Association amendment, Tax Identification Number, Company Business Permit Letter/Permanent License, Company Registration and Domicile Permission, Statement Letter Permission from Minister of Justice and Human Rights.
Minimum Initial Deposit Minimum initial deposit for opening current account are:
Type of Customers
Minimum Initial Deposit
Corporate
USD 1,000
JPY 100,000
IDR 10,000,000
Eqv USD 1,000 (other Ccy)
Individual
Eqv IDR 1,000,000
Minimum Balance For All Accounts Minimum balance for all current accounts (average for all current accounts per month :
Type of Customers
Minimum Balance for All Current Accounts (average for all accounts per month)
Corporate
USD 1,000
JPY 100,000
IDR 10,000,000
Eqv USD 1,000 (other Ccy)
Individual
Eqv IDR 1,000,000
Minimum Balance Penalty
Penalty for not maintaining minimum balance (per month):
Currencies
Penalty for Not Maintaining Minimum Balance For Combined Accounts per months
US Dollar (USD)
USD 10
Japanese Yen (JPY)
JPY 1,000
Indonesian Rupiah (IDR)
IDR 100,000
Other Currency
Eqv USD 10
C. Charges
Transactions
Charges
Cash Deposit Fee for USD and JPY
Customer
Credit to account
Free
Transfer
½%
Non Customer
Transfer
1%
Cash Withdrawal for USD and JPY
½% (min eqv USD 5)
Internal Transfer
Same Ccy
Free
Exchange
Our rate
Transactions
Charges
Checkbook and Giro Book
IDR 100,000/book
Administration Fee
IDR Account
IDR 10,000/month/account
FCY Account
Eqv IDR 10,000/month/account
Account Closing
IDR Account
IDR 50,000/account
FCY Account
Eqv. IDR 50,000/account
D. Interest Calculation
Interest endowments for current account is calculated by following condition :
Interest Calculation Method
Interest = Average Balance x Interest Rate x Days / 360
Interest Calculation (Subject to 20% income tax)
USD
Average balance ≥ USD 50,000/month
IDR
Average balance ≥ IDR 100 million
Other Ccy
No Interest
·Rounded up to the second decimal place.
·Subject to 20% Income Tax.
Japanese Yen Current Account There is no interest facility for Japanese Yen current account.
Interest rate implemented on US Dollar and Rupiah current account is fluctuate each month in line with market condition.
E. Terms
· Penalty and administration fee for zero balance account will be charged to other
account with sufficient balance.
· Current account will be non-activated if the customers do not have any transaction within
3 (three) months in a row.
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