Receive payouts by local wire transfer in IDR (Indonesia)

Overview

Local wire transfer in IDR is a transfer of funds between banks in Indonesia in the local currency (IDR). This method is valued for its reliability, convenience, and speed, since it provides a direct transfer from one bank account to another within the country.

Available currencies for sending a payment

• Indonesian rupiah (IDR)

📌 If the currency of funds in your Smartcat balance is different from IDR, the funds are converted to IDR at Smartcat's exchange rate.

Commission

5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.

You can view a list of companies that are reimbursing your commission in My Payouts (click the More Details button on your payout method).

https://smartcat.com/billing/payout-instruments

Minimum and maximum payout amounts

From 170,000 IDR to 300,000,000 IDR.

Smartcat lets you set the minimum amount from which a payment is sent to you. To learn more, see Minimum payout amount.

Required details

Advantages

• Cheaper than an international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer

• Speed. Payouts are processed up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side

• Funds are received immediately in the local currency. You do not spend money on additional conversions and can use the money in your country right away

FAQs

I chose this method, but the payment was rejected. Why?

Do the following:

• Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)

• Make sure the postal code, city, street, and house number are specified in the corresponding fields of the details. Do not enter a PO box or email address instead of your residential address

• Check that the account number, bank name, branch (only digits are allowed), SWIFT, and account type are correct

• Make sure the name of the account holder is entered exactly as it is in the bank details, including all spaces and symbols

If the details you provided are correct, contact your bank branch to find out the reason for the rejection on the bank's side.

I cannot find the payment. What does the payment look like on the bank statement?

If you cannot find the payment, check your account statement for the following transactions:

As a reference, the payment ID can be specified in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.

SMARTCAT EUROPE BV, AIRWALLEX, or Banking Circle SA is displayed as the sender, depending on the receiving bank.

For which countries is this method available?

The method is available only for receiving funds to an account in Indonesian banks.

I received a payment. What details should be used for billing?

When receiving funds by local bank transfer in IDR, enter the following Smartcat details in your account:

Full name: Smartcat Europe BV

Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands

VAT no.: NL859832880B01