IDR – Indonesian Rupiah
IDR is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of Indonesia.
Besides this limitation, this currency is considered to be complex (multiple information to be provided and complex processing).
- Currency Guidelines
Besides the standard information, the beneficiary’s physical full address is recommended.
A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
A purpose of payment code (see Appendix IV) is mandatory and therefore required in the remittance information (field 70) for all payments towards Indonesia in all currencies (except for payments in IDR). The structure should be the following:
FXR + Beneficiary Country of Residence + Beneficiary Category + Purpose Code + Beneficiary affiliation status
In addition, if the selected purpose code is "011" or "012", the SiMoDis regulation is mandatory. The SiMoDis requirement means that the invoice number and amount should additionnaly be communicated in the remittance information. This information should also follow a specific formatting in order to avoid delays or rejections. The required formatting is: Free text (should you need it)/SiMoDis purpose code//invoice number(invoiceamount)
Example for an export payment (one invoice): 70: Free text/1011//456XYZ(100000)
Example for an import payment (two invoices): 70: Free text/2012//456XYZ(100000)578ZWX(500000)
Furthermore, for all payments in IDR towards Indonesia, it's mandatory to mention the SKN number in the remittance information field with format “SKN/2*2**” where:
* BenefTypeCode value = 1/ 2/ 3 (1: Individual, 2: Corporate, 3: Government)
** BenefStatusCode value = 1/ 2 (1: Resident, 2: Non-Resident)
Examples in case of SWIFT MT103:
• Using tag 70 (payment details-free format): 70:BENEFRES/ID/SKN/21 (for corporate resident)
• Using tag 77B - must be on line 1: 77B:/BENEFRES/ID/SKN/22 (for corporate non-resident)
This currency does not have any decimal places.
• that incomplete instructions may result in delay and late execution.
• that ID in the above-mentioned examples, is a fixed value that stands for "Indonesia" and not for a particular identification reference.
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
To consult the Appendix(es) click hereAppendix IV: Purpose of Payment Codes (IDR)
- Additional information
• Available charge options: OUR/SHA/BEN
• Central bank of Indonesia: http://www.bi.go.id/en/Default.aspx