Definition
The business of exchanging foreign banknotes and traveller’s cheques.
Nonbank Money Changers
Nonbank Money Changers are business entities incorporated in Indonesia under limited liability laws that exchange foreign banknotes and traveller’s cheques.
KUPVA Regulations
Provisions for Nonbank Money Changers are contained within Bank Indonesia Regulation (PBI) No. 18/20/PBI/2016 and Bank Indonesia Circular Letter No. 18/42/DKSP concerning Nonbank Money Changers.
Definition
Funds Transfers consist of a series of activities, commencing with an initial order from the sender to transfer an amount of funds to the recipient named on the transfer order until the funds have been received by the recipient.
Funds Transfer Providers
Funds Transfer Providers are banks and nonbank business entities incorporated in Indonesia engaged in funds transfer activities.
Funds Transfer Regulations
Funds transfers are regulated in accordance with Bank Indonesia Regulation (PBI) No. 14/23/PBI/2012 concerning Funds Transfers, Bank Indonesia Circular Letter No. 15/23/DASP concerning Funds Transfers and Bank Indonesia Circular Letter No. 16/1/DKSP concerning Online Funds Transfer Reporting by Nonbank Business Entities Incorporated in Indonesia.
