Great news for all Jagoans! You can now receive various foreign currencies from abroad directly to your Bank Jago account, which is great for keeping your digital activities running smoothly, such as for:
- Cross-Border Workers & Freelancers: For remote workers, software engineers, graphic designers, or translators with international clients, this feature makes receiving your monthly salary, project or invoice payments, payments for services so much simpler.
- Indonesian Migrant Workers (PMI): Helps those working abroad, for example in Singapore or in the USA, who want to send money or financial support to their families back home in Indonesia.
- App & Website Owners: Makes it easy for bloggers, Android/iOS app developers, content creators, and digital publishers to cash in their ad revenue, affiliate marketing commissions, or royalty payments from international ad networks.
3 Ways to Receive Foreign Currency Transfers from Abroad to Your Bank Jago Account
There are three practical ways you can choose to receive funds from abroad. Just pick the one that best fits your transaction needs:
1. International transfer reception
With this method, the sent foreign currency goes straight into your Foreign Currency Pocket in the exact same currency without any automatic conversion. So, if someone sends USD, it goes into your USD Pocket, and SGD goes into your SGD Pocket. This is perfect if you want to save or keep your funds in foreign currency.
2. Visa incoming transfer (Visa OCT)
If you use this method, merchants or senders abroad can transfer funds directly to your debit card via the Visa network. You just need to give them your Visa debit card number (either physical or digital), and the money will go straight in without needing a separate transfer to your account. The funds you receive will be automatically converted to IDR.
3. Wise
You can also receive global funds through the integrated Wise network. The sent money will be automatically converted and will land straight into your IDR Pocket in Rupiah.
How to Receive International Transfers to Your Jago Foreign Currency Pocket
If you want to use the pure foreign currency reception method, just follow these simple steps:
1. Create a Foreign Currency Pocket first
Open the Jago application and create a Foreign Currency Pocket that matches the currency you want to receive (for example, a USD Pocket or an SGD Pocket).
2. The currency must match
Make sure the sender sends the exact same currency. This type of international transfer cannot be received directly into an IDR (Rupiah) Pocket.
3. Use the SWIFT code
Provide the SWIFT Code JAGBIDJA to the sender if requested.
4. Your Pocket number acts as your IBAN
If the sender or international platform asks for an IBAN, you just need to give them your destination Foreign Currency Pocket number.
5. Include a purpose code
Specifically for transfers above USD 10,000, the sender must include a purpose code (transaction purpose code) according to the applicable regulations so that the process goes smoothly and securely.
When will the money arrive?
You will receive these international transfer funds within a maximum of H+1 business day after the money reaches the receiving bank. Since the process follows bank business days, the arrival time will depend on the bank's operational schedule (weekends and public holidays don't count).
Global Transactions Made More Practical Because There is a Pocket for Every Need
The availability of these incoming remittance options, along with the integration of Visa and Wise, makes receiving money from abroad way more practical. Whether it’s for cashing in digital ad revenue, getting paid as an international freelancer, or receiving money from family overseas, you can track everything directly through just one Jago app.
FAQ About Bank Jago's Remittance Feature
1. What foreign currencies can currently be received via international transfer?
For now, the international transfer reception feature only supports USD and SGD. But don't worry, other foreign currencies like EUR, JPY, and AUD will be added gradually in the next phase.
2. Can I send international transfers abroad?
Not yet. Currently, the system only supports the international transfer reception feature (incoming remittance) to your Foreign Currency Pocket.
3. Can I receive transfers between different currencies?
If it's through the direct remittance path, not yet. The transfer must use the same currency (USD to USD, or SGD to SGD). However, if the sender transfers via the Wise network, the funds can be automatically converted and received in Rupiah in your IDR Pocket.
4. Are there any fees for receiving money via Visa Incoming Transfer?
There are absolutely no fees at all, meaning it's free (Rp0). If the amount of money you receive is slightly different from the initial amount sent, that is purely due to the currency exchange conversion to Rupiah based on the current rates applicable on the Visa network.
5. Which debit cards support the Visa Incoming Transfer feature?
This feature can be used on all Visa debit cards, both physical and digital. This service does not apply to debit cards with the GPN logo.
