Transfer Aman dan Cepat? Pakai BI FAST

Summary

The transcript discusses the convenience and benefits of ByFast, a payment system developed by Bank Indonesia to facilitate real-time, low-fee transfers between different banks. Introduced in December 2021, ByFast allows users to make transactions 24/7 with a maximum fee of just Rp 2,500. The system uses phone numbers or email addresses for transfers, eliminating the need to remember bank account details. ByFast is gradually expanding among participating banks and institutions, aiming to provide a more efficient and affordable payment experience for everyone.

Takeaways

• 😀 ByFast allows real-time interbank transfers online, making transactions faster and more efficient.
• 😀 Since December 2021, ByFast has been part of Indonesia's national payment system, developed by Bank Indonesia.
• 😀 The maximum fee for transfers via ByFast is capped at IDR 2,500, offering a low-cost alternative to traditional interbank transfer fees.
• 😀 With ByFast, users can transfer funds using only a phone number or email address, simplifying the process and eliminating the need to remember bank account numbers.
• 😀 ByFast is accessible through mobile, internet banking, and certain physical bank branches, but the availability depends on the participating bank.
• 😀 Not all banks currently offer ByFast services through all channels; some provide it only through specific methods like counters.
• 😀 The service has been designed to make transactions more efficient for individuals in need of fast transfers.
• 😀 ByFast's integration into Indonesia's financial system aims to streamline retail payments for the broader community.
• 😀 ByFast aims to gradually expand its participant base, including more banks and non-bank financial institutions.
• 😀 The continued development of payment technology in Indonesia is making transactions increasingly seamless and cost-effective for consumers.

Q & A

What is the By Fast payment system introduced by Bank Indonesia?

By Fast is a national payment infrastructure developed by Bank Indonesia that facilitates real-time interbank transactions with a low maximum transfer fee of IDR 2,500.

Why is the By Fast system beneficial for bank transfers?

By Fast allows for real-time interbank transfers, available 24/7, with a minimal transfer fee, making it highly efficient for users who need fast and cost-effective transactions.

What is the maximum fee for using the By Fast system?

The maximum fee for a transfer using the By Fast system is IDR 2,500.

How can users make transfers using By Fast?

Users can make transfers through By Fast using only a phone number or an email address instead of bank account numbers, simplifying the process.

What types of banks and institutions are involved in By Fast?

Initially, By Fast is available through participating banks and financial institutions, but Bank Indonesia plans to expand the system to include more institutions, such as ATMs and non-bank entities.

When was By Fast officially introduced?

By Fast was officially introduced in December 2021.

Are all bank transfer services automatically reduced to IDR 2,500 with By Fast?

No, By Fast only applies to transfers made using its infrastructure. Not all bank transfer services are automatically reduced to IDR 2,500.

How does By Fast help people who often forget their bank account numbers?

By Fast allows users to make transfers using just their phone number or email address, which eliminates the need to remember bank account numbers.

What were some challenges people faced before By Fast?

Before By Fast, people often had to worry about high interbank transfer fees, and some even went out of their way to find ATMs of the same bank to avoid these fees.

What is the future outlook for By Fast?

In the future, Bank Indonesia plans to gradually involve more banks and financial institutions in By Fast, expanding the service to a wider range of channels and participants.