Interbank Foreign Currency (Remittance)

What is Remittance?

Remittance is a service available in Bank Jago that allows you to receive foreign currency transfers from other banks, both domestic and overseas, into your Jago Foreign Currency Pocket in the same currency.

This service can help:

• cross-border workers receive salaries or payments,
• migrant workers send money to their families,
• and app or website owners receive advertising revenue from overseas.

How can I receive interbank foreign currency transfers into my Jago Foreign Currency Pocket?

1. First, create a Foreign Currency Pocket in the currency you want to receive, for example, a USD Pocket.
2. Ensure the sender transfers funds in the same currency. Transfers cannot be received into an IDR Pocket.
3. If a SWIFT code is required, use: JAGBIDJA
4. If you are asked for an account number or IBAN for incoming funds, please use your Foreign Currency Pocket number.
5. For transfers above USD 10,000, the sender must provide a purpose code in accordance with applicable regulations. At the moment, Bank Jago does not support transactions with purpose codes related to export-import activities (or for code 1011).

What currencies are currently available for receiving interbank foreign currency transfers?

Currently, interbank foreign currency transfer receipts are available in USD & SGD. Additional foreign currencies will be supported gradually in future phases.

What is Bank Jago’s SWIFT code?

Bank Jago’s SWIFT code is:
JAGBIDJA

What should I do if I’m asked to provide an IBAN for an interbank foreign currency transfer?

If the sender requests an IBAN, you can use/give your destination Foreign Currency Pocket number instead.

Can I send interbank foreign currency transfers from Bank Jago?

Not yet. Currently, Jago only supports receiving interbank foreign currency transfers into your Foreign Currency Pocket.

Can I receive transfers between different currencies?

Not yet. Currently, only same-currency transfers can be processed. For example:

• Sender uses USD → recipient receives USD
• Sender uses SGD → recipient receives SGD

However, if the transfer is sent through the Wise network, Bank Jago can receive the transfer in Rupiah into your Rupiah Pocket.

When will the interbank foreign currency transfer funds be received?

Transfers are processed only on business days, so the receiving time may follow the bank’s operational schedule.

Will more currencies be supported in the future?

Yes. Interbank foreign currency transfer receipts for EUR, JPY, and AUD are planned to be available in a future phase.