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Transfer between BI-FAST participating banks

Facilitating retail payments in real-time, securely, efficiently, and anytime (24/7).

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BI-Fast

Facilitating retail payments in real-time, securely, efficiently, and anytime (24/7)

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What is BI-Fast ?

BI Fast or BI-FAST is an abbreviation of Bank Indonesia Fast Payment, a payment system developed by Bank Indonesia. Quoted from the official Bank Indonesia website, BI Fast is a national retail payment system infrastructure that can facilitate retail payments in real-time, safely, efficiently, and at any time (24/7). Compared to the Bank Indonesia National Clearing System (SKNBI) whose services are still limited to certain operational hours and effective funds that are not yet real-time as well as limited access to payment channels, BI-FAST can provide payments that are faster, wider, and available at any time.

BI Fast itself is an alternative to the online transfer system provided by banking institutions in Indonesia. Apart from making it easier to make interbank transfers online, there are several other benefits of using BI Fast, namely as follows:

  • Operational hours are 24 hours a day so you can make transactions quickly and practically
  • Real-time-based transaction processing, which means transactions via BI Fast can be processed immediately
  • BI Fast can be accessed via mobile/internet channels or counters and in the future BI Fast will be developed for transactions using QR Code, ATM, and EDC
  • More affordable transfer fees, namely IDR 2,500 per transaction
  • Can transfer using account number, telephone number, or e-mail (proxy address)
  • More complete and automatic security because it is equipped with Countering Financing of Terrorism (CFT), fraud detection, and Anti-Money Laundering (AML) features

BI-FAST is a modernization of SKNBI. Gradually, SKNBI credit transfer and debit transfer services will be transferred to BI-FAST taking into account the industry's readiness to join the BI-FAST ecosystem. In the future, SKNBI will focus on processing Check & Bilyet Giro transactions (paper-based).

In Practice :

  1. Transaction efficiency by reducing processing time.
  2. Instant payments and money transfers.
  3. Pay instantly through the online portal or mobile app.

Benefit :

Transaction Speed :
Payments and money transfers can be processed instantly, reducing waiting time compared to traditional transfer systems that may require several hours or days.
Fraud Risk Reduction :
The BI-FAST system is equipped with advanced security and verification, helping to reduce the risk of fraud and unauthorized transactions.
Reduced Transaction Costs :
Real-time transactions can reduce costs associated with long and expensive transfer processes, such as administrative fees and international transfer fees.

 

Available API for BI-Fast

Here are some of the APIs we have for BI-Fast.

Callback Debit Transfer Status Update

This Callback API serves to change the auto-debit status on the partner side so that the final user can find out the auto-debit status

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This Callback API serves to change the auto-debit status on the partner side so that the final user can find out the auto-debit status

Callback Debit Transfer Infromation

This Callback API serves to find out the amount of information and when the time will be deducted from user's account, so that the third party can deduct the account in varying amounts

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This Callback API serves to find out the amount of information and when the time will be deducted from user's account, so that the third party can deduct the account in varying amounts

Account Deactivation

Use this API to delete customer accounts from the auto-debit system so that it will not be debated regularly

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Use this API to delete customer accounts from the auto-debit system so that it will not be debated regularly

Account Detail Update

Use this API to make changes to the customer's account details into the auto-debit system so that it can be debated regularly

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Use this API to make changes to the customer's account details into the auto-debit system so that it can be debated regularly

Account Registration

Use this API to register the customer's account into the auto-debit system so that it can be debated regularly

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Use this API to register the customer's account into the auto-debit system so that it can be debated regularly

Transfer to Virtual Account

API to transfer the fund from your account to designated virtual account.

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Virtual Account Inquiry

This API functionality is to inquiry virtual account details so that you can be sure the account that you’ll be transferring to is the right one

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Transfer to Other Bank

Transfer to Other Banks is now hassle-free and unlimited.

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