Bank Indonesia New Regulation on Bilyet Giro (BG)

Below are important points of the above regulations:

• Mandatory information to be completed by Issuer from its issuance date on the BG instrument are:
  • Beneficiary's name and account number
  • Beneficiary's bank name
  • Amount – in numeric and in complete words
  • Issue date
  • Issuer's wet signature
  • Effective date
  • Issuer's name

• Bahasa Indonesia is mandatory to be used in any BG instrument (other language can be used as reference).
• The maximum writing error correction is three (3) times.
• The maximum validity period of BG is 70 days from its issuance date, it cannot be cancelled and not transferable during validity period.
• The submission of BG (through over the counter or Dropbox service) for clearing purpose has to be done and/or signed by the beneficiary or a person who receives delegated authority. Please complete and submit new Power of Attorney form in order to authorise person for BG submission.
• The maximum nominal value of each BG that can be processed for clearing purpose is capped at IDR 500 million (please note that this change will apply to a crossed cheque as well).

Please be advised that due to the integration of HSBC Indonesia Branch with PT Bank HSBC Indonesia (previously PT Bank Ekonomi Raharja):

• You are required to exchange your current cheque and/or Giro with the new design as your current cheque and/or Giro can be used for transactions only until 17 July 2017.
• Starting from 1 April 2017 please visit the branch where you first opened your account to order your new cheque and/or Giro book (replacement is free of charge).

Please contact your Relationship Manager or Client Service Manager should you need further clarification.