Foreign Currency Transfers to Bank Mandiri Indonesia
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The Foreign Currency Transfer to Indonesia feature allows customers to send foreign currency directly through Livin’ by Mandiri Timor-Leste. This feature makes cross-border transactions from Timor-Leste to Indonesia (outgoing) faster and available on Monday – Friday at office hours ( 09.00 – 17.30 OTL).
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This feature can be used by all individual customers of Bank Mandiri Dili, Timor-Leste who have downloaded and activated the Livin’ by Mandiri Timor-Leste app and have a Mandiri Savings or Mandiri Checking account in USD.
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No third-party partners are involved; all transactions are handled directly by Bank Mandiri Dili, Timor-Leste and Bank Mandiri Indonesia. Currently, foreign currency transfers to Indonesia can be sent to Bank Mandiri Indonesia.
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The Foreign Currency Transfer to Indonesia feature can use USD accounts as the source.
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Currently, customers using Livin’ by Mandiri Timor-Leste can make foreign currency transfers to Bank Mandiri Indonesia in USD and IDR.
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1)The following are the benefits that customers will receive:
2)Facilitates foreign currency transactions to Bank Mandiri Indonesia through the mobile application without having to go to a branch.
3)Offers competitive exchange rates for foreign currency transfers to Bank Mandiri Indonesia.
4)Provides a new way to conduct foreign currency transactions to Bank Mandiri Indonesia.
5)Allows for near-real-time foreign currency transfer transactions to Bank Mandiri Indonesia.
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1)The following are the risks associated with the foreign currency transfer feature:
2)There is a risk of errors in the exchange rate used for foreign currency transfer transactions.
3)There is a risk of delayed transactions reaching the recipient at Bank Mandiri Indonesia.
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The estimated time for the nominal transfer to be received by the recipient at Bank Mandiri Indonesia is several minutes to a few hours after the transaction time, and customers can track the transaction through the Inbox in Livin by Mandiri Timor-Leste.
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The Foreign Currency Transfer to Bank Mandiri Indonesia via Livin’ by Mandiri Timor-Leste is fully automated in the system, unlike branch transactions which still involve manual checks. Some differences between branch transactions and the Foreign Currency Transfer feature in Livin’ by Mandiri Timor-Leste includes:
No
Difference
Branch
Livin’ by Mandiri Timor-Leste
1
Amount Received by Beneficiary
The recipient may receive either the full amount or an amount after deducting fees, based on the sender’s chosen fee scheme.
The transfer amount is guaranteed to be received in full.
2
Estimated Time of Receipt
1-3 business days.
A few hours to same-day.
3
Validity of Exchange Rate
According to the agreement with the branch.
The rate is valid for 5 minutes from when the customer inputs the transfer amount until PIN entry.
4
Transaction Time
Limited to branch operating hours.
Can be done anytime, anywhere, 24/7.
5
Transaction Fees
BEN: All fees charged to the recipient.
Transaction Fees
6
Transfers Above USD 100,000
Possible with supporting documents.
Not possible.
7
Destination Banks
Includes nearly all domestic banks in Indonesia.
Bank Mandiri Indonesia.
8
Amendment Services
Available.
Not available.
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The Foreign Currency Transfer to Indonesia feature currently only supports transfers to Bank Mandiri Indonesia, with destination accounts available in USD and IDR.
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1)Select the ‘Overseas Transfer’ menu:
2) Select ‘Transfer to Mandiri Indonesia’3) On the gather screen page, select the destination currency and enter the amount to be sent to the recipient:4) Customers can review details including the exchange rate, conversion value, total fees, and the overall transaction amount, and choose the source account. The explanation will cover the exchange rate, conversion fee, commission fee, transaction fee, and the validity period of the conversion details. Make sure there are sufficient funds.5) Next, enter the recipient’s details. An “i” button is available on the recipient details page, providing additional explanatory information.6) The confirmation page to review and verify the transaction details.7) Enter your Livin’ PIN. The transaction will be processed, and you can check its status on the Inbox page.
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Here are the fees that customers will incur, including the transaction fee and fixed charges applied to each transaction as follows:
Same Currency Transfer (USD to USD)
Amount Received
Transfer Fees
USD 1 – 999,99
USD 5
USD 1.000 – 3.000
USD 10
Different Currency Transfer (USD to IDR)
All amount
USD 1
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Yes. The transaction limits are as follows:
Daily Limit : USD 3.000
Those daily limit is for 1 CIF not account.
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Customers need to prepare the following details for a foreign currency transfer to Bank Mandiri Indonesia:
1)Destination Account Number: The account number at Bank Mandiri Indonesia. Ensure that the account number corresponds with the currency attached to it.
2)Type of Destination Account.
3)Full Name of the Recipient.
4)Recipient’s Email Address.
5)Recipient’s Complete Address.
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If customers encounter issues with the source account not appearing, they should first check:
1)Ensure the source account is active or was newly created today.
2)If the account is not active or was not created today, it cannot be used for foreign currency transactions. The account will not appear as an option for the source account in foreign currency transfers.
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If customers encounter issues with the ‘Save to List’ button not appearing, it may be due to the following reasons:
1)Recipient details will be automatically saved to the ‘Saved List’ once the foreign currency transfer to Bank Mandiri Indonesia is successfully completed.
2)Details entered by the customer will be stored and will auto-fill the fields if the customer makes another transaction by selecting from the ‘Saved List.’
3)If a foreign currency transfer is made to the same recipient name but with a different account, the ‘Saved List’ will show multiple accounts under the same name.
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Customers will need to re-register (user registration) to reset the transaction PIN in order to resume transactions.
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Yes. Customers can monitor the status of their transaction through the Messages/Inbox menu in Livin’ by Mandiri Indonesia. They will also receive email and inbox notifications when the funds are successfully sent.
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The status ‘Transfer Request Sent’ appears when Bank Mandiri Dili, Timor-Leste successfully forwards the transfer instruction to Bank Mandiri Indonesia. The status ‘Transfer Successfully Processed’ is shown when Bank Mandiri Indonesia successfully completes the transfer to the recipient’s account. The status ‘Transfer Not Successful’ occurs if there are discrepancies in the recipient’s details or if the recipient’s account is inactive. To reduce the likelihood of ‘Transfer Not Successful,’ customers should verify that the recipient’s information is accurate and that the recipient’s account is active.
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Customers should contact Bank Mandiri Dili, Timor-Leste via email at livin.dili@bankmandiri.co.id, phone number +670 74140000, or visit the nearest Bank Mandiri Dili Timor-Leste branch. A Mandiri Customer Service agent will assist in confirming the transaction status.