Starting January 2017 any outgoing FX transfer with amount over USD100,000 (one hundred thousand US dollars) or its equivalent must be supplemented with necessary supporting documents.
Refers to our previous communication (i) on 29 June 2016 regarding Bank Indonesia Regulation Number 18/10/PBI/2016, (ii) on 31 October 2016 regarding Bank Indonesia Circular Letter No 18/23/DSta/2016 both regarding Foreign Exchange Activities Monitoring for Bank and Customers. The objective of this announcement is to reassure that any outgoing transfer in foreign currency with amounts over USD 100,000 (One Hundred Thousand US Dollar) or its equivalent (“Outgoing FX Transfer”) will need to be supplemented with supporting documents. Starting 3 January 2017, any Outgoing FX Transfer request to us must be supplemented with necessary supporting documents. We will not process any Outgoing FX Transfer request that have not supplemented with supporting documents.
List of supporting document can be found in here. Should your underlying transaction is not listed, you will need to complete a declaration letter, signed by your authorized signer supplemented with your supporting documents.
To avoid delay to your transaction, kindly ensure that you always provide the supporting document and/or the declaration letter for every Outgoing FX Transfer. For transaction initiated from our electronic channel, please email your supporting document to bimonitoringhsbc@hsbc.co.id quoting your transaction reference number and company name on the subject email.
Please be informed that incompliance to this regulation will be subject to financial penalty of 0.25 per cent from your transaction value or with maximum fine amount of IDR50,000,000 - (fifty million Rupiah) per Outgoing FX Transaction by Bank Indonesia.
Your Relationship Manager or Client Service Manager is available to help if you have any any questions related to the abovementioned matter.
Thank you for your attention.
