What is BI-FAST ?
Bank Indonesia-Fast Payment, hereinafter referred to as BI-FAST, is the payment system infrastructure from Bank Indonesia to facilitate retail payment that can be accessed at any time in order to support a fast, cheap, easy, secure and reliable payment system.
What service can be processed through BI-FAST ?
- The service that can be processed through BI-FAST currently is individual credit transfer service which can process funds transfer order originating from the Sending Participant Customer to the Receiving Participant Customer. Furthermore, BI-FAST service will be gradually expanded to include bulk credit, direct debit, and request for payment services.
When is BI-FAST operational time ?
- BI-FAST operational time is running at any time for 24/7 and fund is received in real time by Customer and Bank.
How much does BI-FAST transaction cost ?
- Free BI-FAST transfer via M2U ID App without maximum transfer quota. Period until February 28 2023.
- Fee of BI-FAST transfer via M2E IDR 2,500/transaction*.
*In accordance with the BI-FAST fee scheme set by Bank Indonesia. For further information, please visit the official website of Bank Indonesia Click here.
How much is the maximum nominal limit for BI-FAST transaction ?
- The maximum nominal limit for BI-FAST transaction is set at IDR 250 mio/transaction.
Through which channel(s) is BI-FAST available ?
- PT Bank Maybank Indonesia, Tbk has launched BI-FAST transaction service through channels that can be accessed 24 hours 7 days which consist of:
1. M2U ID App
2. M2E
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