BI-RTGS - Bank Sentral Republik Indonesia
Sign In
July 15, 2020

Bank Indonesia Real Time Gross Settlement

BI-RTGS is a system for electronic funds transfer among participants, specifically banks, in the rupiah currency with settlement processed in real time on an individual transaction basis. Since operated by Bank Indonesia on 17 November 2000, BI-RTGS plays an important role in processing the payment transactions, particularly for processing of high value payments (amounted Rp 100 million and above) and urgent financial transactions or categorized as High Value Payment System (HVPS).

Related Links

Currently, HPVS transactions reached  more than 90% in average of all payment transactions in Indonesia which is considered as a Systemically Important Payment System (SIPS).
BI-RTGS provides many benefits, in addition to mitigating settlement risk through improved  finality of settlement, also include the practical, rapid, efficient, secure and reliable transfer facility. Moreover, BI-RTGS the centralized account mechanism  which can improve the effectiveness of the liquidity management both for the participants and the monetary and banking authority. For  the authority, information on liquidity provide supporting information for monetary operation and banking supervision as early warning system.

BI-RTGS is designed to ensure settlement can be done in gross, real-time, final and irrevocable. Settlement of the transactions are processed on individual basis in real time and can not be revoked. The real time means that the debiting of the sending participant account and crediting of the beneficiary participant account take place immediately after receipt of the transfer order and completion of the validation process by the system at the operator. Meanwhile, the settlement of customer transaction on their accounts depends on the conditions and standards of processing system in the internal system of participants, thus there can be time difference between the settlement on the BI-RTGS and the receiving funds on the customer's account.

Queuing System is implemented in BI-RTGS. Transactions will be in queuing once they are sent and, the participants do not have sufficient funds yet. This condition occurs partly because the participants are still waiting for incoming transaction from the other participants. The settlement of BI-RTGS transactions can only be processed when the participants have sufficient funds (principle “no money no game”). Transactions in the  queuing can be settled immediately after the participants receive incoming transactions or deposit additional funds on their accounts. The implementation of the queuing system requires participants to manage their liquidity prudently to ensure all transactions can be settled promptly  at the end of the day.

BI-RTGS also adopts Gridlock Resolution mechanism. This mechanism aims to prevent gridlock, that is the condition in which the failure of some transfer instructions to be executed affects a substantial number of other instructions from other participants from being executed. The Gridlock Resolution is automatically run by BI-RTGS Central Computer (RCC) if one of the Operator-determined criteria is met, using the First Available First Out (FAFO) method subject to level of transactions even though the prescribed criteria have not been met.

To accelerate the settlement of transactions, BI as operator asks participants to comply with Throughput Guidelines. Throughput guidelines are target in which the participant is expected to complete a certain percentage of the total payments during 1 (one) day. Compliance of participants to the throughput guidelines will reduce the possibility of transaction accumulation on the end of the day.

Intraday Liquidity Facility (FLI) and Sharia Intraday Liquidity Facility (FLIS) is fund provision by operator  to participants in BI-RTGS for a very short maturity during the operational hours of BI-RTGS which is obliged to be finalized on the same day of use. FLI / FLIS can be used by participants to overcome liquidity problems which occurred temporary or intraday gap. Intraday gap may occur because by using gross settlement, the transactions are settled continuously  throughout the day,  therefore it requires substantial liquidity. In order to use FLI/FLIS, participants have to provide  liquid collateral  in form of SBI/SWBI and/or government securities.

BI-RTGS is also a Settlement Processor. As settlement processor, BI-RTGS provides facility for settlement of retail payment transactions, including clearing system held by Bank Indonesia (SKN-BI) and clearing system of card payment system (ATM / debit card / credit card). In addition to retail payment transactions, BI-RTGS also processed settlement of fund transfers of securities trading transactions, interbank foreign exchange transactions, monetary operations / open market operations (OMO), government expenditures and  BI-SSSS securities transaction.

In order to ensure BI-RTGS shall operate  with a high level of security and be available throughout the defined  operating hours, it is equipped with procedures for handling malfunctions and/or emergencies which include contingency plan, back up facilities, and business continuity plan (BCP). In addition, operator provides guest bank facility to participants on operator premises as backup in the event of malfunction and/or emergency preventing participant from not using their RT facilities for processing settlement of transactions in the BI-RTGS System.

BI as an Authority
According to Act number 23 year 1999 jo number 3 year 2004 jo number 6 year 2009 on article 8 Concerning Bank Indonesia, one of Bank Indonesia’s tasks is to regulate and to safeguard the smoothness of the payment system. In order to perform this task, Bank Indonesia has rights to implement, and grant approval and license of, the arrangement of the payment system service, to require the operator of the payment system service to submit reports on its activities, and to determine the use of payment instruments (Article 15).

As an authority, Bank Indonesia acts as regulator and overseer of payment systems including BI-RTGS. As regulator, Bank Indonesia set a well-founded legal basis for implementation of the BI-RTGS System and specification of the roles and responsibilities of Bank Indonesia both as operator and participants.

As payment systems overseer, Bank Indonesia ensure the operation of the BI-RTGS System in compliance with the principles of 10 Core principles for Systematically Important Payment System (CP-SIPS) from Bank for International Settlement as stipulated in the BI-RTGS System Regulation to support the stability of the financial system and by considering the consumer protection principles. Oversight function is performed through regulation, consultative meetings with the operator, monitoring and assessment of the operation of the BI-RTGS.

One of oversight activities is requiring operators  to have adequate security standards. To assess the security of operational  BI-RTGS, Bank Indonesia may request an external independent auditor  to perform security audit. The scope of audit  is  on application or network used  in BI-RTGS . This audit  is conducted to ensure the reliability and security of BI-RTGS. Moreover, Bank Indonesia  also  requires  operator and  participants to test back up and the disaster recovery plan periodically.

BI as an operator of BI-RTGS System
As an operator, Bank Indonesia has a responsibility, i.e :
1.  to operate BI-RTGS in efficient, rapid, safe and reliable.
2.  to give an explanation to participants about financial risks regarding their
     participation in BI-RTGS and the participants has to manage those risks.
3.  to ensure the compliance of the participant with the regulations issued by
     Bank Indonesia and the Operator-Participant Agreement, including receive 
     the internal audit report of the operational of BI-RTGS in participants.

In operating the BI-RTGS System, the operator provides infrastructures and services to participants, including but not limited to:
1. the infrastructure and facilities for operating the BI-RTGS System, i.e: to 
    hardware at the operator, RCC application (software), data communications 
    leased line, dial up facility and other supporting facilities
2. a help-desk to manage operational difficulties experienced by Participants
    training to participants
3. Disaster Recovery Plan (DRP) or Business Continuity Plan (BCP) and 
    conduct the testing regularly with the  partcipants
4. conduct regular user group meeting

BI-RTGS participants
BI-RTGS participants consists of banks and non-bank party. Membership of BI-RTGS are categorized into Direct Participants and Indirect Participants. Direct participants are participants who can send RTGS transactions by using their own identity. While Indirect Participants can submit RTGS transactions by using the identity of their direct participant.

Legal relationship between participants and operator of BI-RTGS (Bank Indonesia c.q  Directorate of Accounting and Payment System) stipulated in agreement of use of BI-RTGS. The agreement concerning the rights, obligations and responsibilities of the Operator and Participants.

In addition to regulations and agreements, for daily operational of the BI-RTGS concerning technical matters, there is Bye Laws of BI-RTGS. Provisions in Bye Laws are the technical agreement among participants that have not been regulated in Bank Indonesia regulations or in the agreement.

The participants should carry out the Know Your Customer Principle as part of Anti Money Laundering Policy to prevent money laundering activities and safeguard national stability and state security.


For further information, please contact:

Directorate of Accounting and Payment System - Payment System Licensing and Information Team
Telp: 62-21-3817625
Fax: 62-21-34830155
E-mail:  &

Gerai Info
Menara Syarifudin Prawira Negara First Floor
Jln M.H.Thamrin No.2
Jakarta 10350
Open: Monday to Friday,
07.30 - 15.30 (closed on national holidays)
Free of charge


Show Left Panel