Last updated on June 27th, 2024 at 03:13 pm
If you’ve relocated from Indonesia to set up a new life abroad, you’re far from alone. Research has shown there are at least eight million Indonesians now settled in countries across the world. Sending money to Indonesia is a top priority for many who’ve moved away from their home country, as is shown by the fact that almost $10 billion in remittances was received in 2020 alone. The money makes a real difference not just to the loved ones of Indonesians abroad, but to the national economy.
But how can you ensure you aren’t paying over the odds when you send rupiah to friends and family at home? This is where Remitly can help. We’re here to provide a remittance service that is clearly priced and easy to access through our intuitive app. When you use Remitly, your loved ones can receive rupiah by way of a deposit into their bank or mobile money accounts, or simply collect the cash in person. If your recipient is with Bank Rakyat, this guide is for you.
Send Money to Bank Rakyat in 5 Easy Steps
Sending money to Indonesia is easily done with Remitly. Here are the steps to follow.
- For first-time users, download the Remitly app and create an account. Then select Indonesia as your destination country.
- Enter the amount you wish to send.
- Choose Bank Rakyat as your Bank Deposit or Cash Pickup delivery method.
- Enter your recipient’s details as prompted.
- Enter your payment details.
After reviewing all the details to make sure everything looks right, you can go ahead with the IDR transfer. We may ask for additional documentation depending on the amount sent or if we are unable to verify your identity. The entire process is transparent and traceable, with SMS updates available to keep your recipient updated so they’ll know when they will receive rupiah from you.
Why Should I Use Remitly to Send Money to Bank Rakyat?
Remitly is used by millions of people who, like you, have moved country and want to support their loved ones long distance. One reason is sheer convenience: our app is straightforward to use, and with just a few taps you can be setting up a money transfer to Indonesia, day or night. Our fee structure is also very easy to understand, and we pride ourselves on providing great exchange rates to all our customers. We guarantee 100% satisfaction or we’ll refund your fees.
How Quickly Will My Money Arrive at Bank Rakyat?
Need your remittance to get to your recipient as quickly as possible? When you’re in a hurry, choose Remitly’s Express option and pay using your debit or credit card and the money will be in your loved one’s bank account fast. If you’re looking for more value and the transfer isn’t urgent, choose Economy and pay with your bank account.
How Much Money Can I Send to Bank Rakyat with Remitly?
As an international money transfer provider, Remitly balances customer service with account security and international regulations. To do this, we have a sending limit when you first open your account.
If you need to send more than that, we will ask you for more information. For more about raising your sending limits, check out details here. Additional sending limits may apply depending upon your choice of payout partner or receiving location.
Further reading: Safely Send Money to Indonesia in 5 Easy Steps
Is it Safe to Send Money to Bank Rakyat with Remitly?
Remitly takes safety seriously. That’s only natural when the core of our business involves money transfers across nations. Remitly uses multiple levels of security so you can send money home with peace of mind. Your personal data is protected 24 hours a day through fraud monitoring and encryption. Remitly transfers can be accompanied by real-time transfer updates , meaning that you and your recipient in Indonesia can both be kept informed on how each and every remittance payment is going.
More about Bank Rakyat
Bank Rakyat, which is commonly known as BRI, has a long and proud history in Indonesia. It dates right back to 1895, when it was founded during the era of Dutch colonial rule. As well as being the oldest bank in Indonesia, it’s also one of the biggest, with many thousands of branches catering to BRI’s customers across the Indonesian archipelago.
As well as offering a raft of financial services, Bank Rakyat has the distinction of being the first bank to launch its own satellite into space. This occurred in 2016, when the $250 million ‘BRIsat’ was blasted into orbit, to play a key role in coordinating the bank’s operations across its many branches. BRI’s president called it “a new era in banking”, and the moment made headlines around the world.