Make Payments and Receive Payments in IDR - Indonesian Rupiah
Pay in Indonesian Rupiah (IDR)
Mondial Change allows you to make international payments in IDR (Indonesian Rupiah) with ease. Manage your beneficiaries in Indonesian Rupiah, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your IDR operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in IDR (Indonesian Rupiah)
Mondial Change allows you to receive payments in Indonesian Rupiah (IDR). Payments in IDR are received in a pool account held by one of our partners. This IDR account is made available to you free of charge. It allows you to receive payments in IDR from your clients or subsidiaries. Once the funds are received in the pool account, they are reconciled in our partner's books and credited to your balance in Indonesian Rupiah (IDR). These funds can be reused to make payments in IDR or they can be converted into EUR or any other currency of your choice and repatriated to your bank account.
Do you want to hedge your exchange risk on the Indonesian Rupiah (IDR)? Check out our dedicated page for IDR exchange hedging
Mondial Change Answers All Your Questions About Payments in Indonesian Rupiah (IDR)
What is the timeframe for an IDR payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for an Indonesian Rupiah transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if IDR payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Indonesian Rupiah (IDR)?
The fees applied to transfers in Indonesian Rupiah (IDR) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual IDR exchange volume and the number of Indonesian Rupiah payments made during the year.
Are there minimum or maximum amounts for payments in Indonesian Rupiah (IDR)?
Mondial Change and its partners verify that your flows in Indonesian Rupiah are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Indonesian Rupiah (IDR)?
For payments in IDR via the SWIFT network, the following minimum information must be provided:
• Full name of the beneficiary
• Account number
• Bank code
Is it possible to modify a payment in Indonesian Rupiah (IDR) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Indonesian Rupiah (IDR) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Indonesian Rupiah (IDR) account provided to you a bank account and is it nominative?
The Indonesian Rupiah (IDR) account for which we provide you the details is a bank account opened in the name of one of our partners. It is a pool account where all IDR transfers are received. The reconciliation of funds on your IDR balance is generally done with your client account reference. You have a guarantee of segregation of your funds in our partners' books.
Is it possible to hold Indonesian Rupiah (IDR) on the IDR account provided to you?
You can use this Indonesian Rupiah (IDR) account to receive Indonesian Rupiah. The currencies will then be credited to your IDR balance opened in our partner's books. The funds can then be reused to issue payments in Indonesian Rupiah or be converted into other currencies.
What are the holidays when payments in Indonesian Rupiah (IDR) cannot be executed?
January 1st: New Year's Day (Tahun Baru)
Variable date: Chinese New Year (Tahun Baru Imlek)
Variable date: Nyepi – Balinese New Year (Hari Raya Nyepi)
Variable date: Isra and Mi'raj (Ascension of the Prophet Mohammed)
Variable date: Good Friday (Wafat Isa Almasih)
May 1st: Labor Day (Hari Buruh)
Variable date: Vesak (Vesak – Buddhist festival)
Variable date: Ascension of Jesus Christ (Kenaikan Isa Almasih)
June 1st: Pancasila Day (Hari Lahir Pancasila)
Variable date: Eid al-Fitr – 1st day (Idul Fitri)
Variable date: Eid al-Fitr – 2nd day
Variable date: Eid al-Adha (Idul Adha)
August 17th: Independence Day (Hari Kemerdekaan)
Variable date: Islamic New Year (Tahun Baru Islam / 1 Muharram)
Variable date: Mawlid (Birth of the Prophet Mohammed)
December 25th: Christmas (Hari Natal)
History of the Indonesian Rupiah
The Indonesian Rupiah (IDR) is the official currency of Indonesia, the world's largest archipelago. As the national currency, the Indonesian Rupiah is widely used in commercial, financial, and tourist transactions across the country. Its currency code IDR is used to facilitate exchanges and international transactions involving Indonesia. The Indonesian Rupiah is divided into 100 sen, which facilitates daily transactions and offers increased flexibility in financial operations.
Monetary Policy of the Indonesian Rupiah
The Bank of Indonesia (Bank Indonesia) is the institution responsible for the monetary policy of the Indonesian Rupiah (IDR). Its main role is to regulate and supervise the country's financial and monetary system. The primary objective of this policy is to maintain price stability and promote sustainable economic growth. To achieve these goals, the Bank of Indonesia closely monitors economic indicators such as inflation, economic growth, exchange rate, and foreign exchange reserves. It uses various instruments, such as setting interest rates and regulating the money supply, to influence the economy and maintain monetary stability. Thanks to a prudent and well-managed monetary policy, the Indonesian Rupiah enjoys a reputation for stability and credibility in both domestic and international markets.
Features of the Indonesian Rupiah
The Indonesian Rupiah (IDR) has unique characteristics that distinguish it from other currencies. Firstly, it is not pegged to another currency, meaning it floats on the foreign exchange market. This flexibility allows the Indonesian Rupiah to adjust to market fluctuations and adapt to international economic conditions. Additionally, the Indonesian Rupiah is widely accepted throughout Indonesia for payments in shops, restaurants, hotels, and financial transactions. Finally, Indonesian banknotes are equipped with advanced security features to prevent counterfeiting, such as holograms, watermarks, and special inks. This enhanced security ensures the integrity of the currency and strengthens user confidence in the Indonesian financial system.