Mandiri Money Transfer

Mandiri Money Transfer is one of the services provided by Bank Mandiri that offers customer with flexibility and convenience in money transfer activities consist of both incoming and outgoing transfer in foreign currencies to and from more than 200 countries across the globe.

Outgoing Remittance

Money transfer service to foreign country or money transfer transaction domestically in foreign currencies which utilizing our network and correspondent banks overseas.

One of the advantages of the service is the remitter are able to specify the exact amount of money received. The service will deliver a satisfactory experience to our customer with its competitive pricing and will give you access to 125 foreign currencies to provide you with ease.

The service process is delivered by Straight through Processing (STP) method that creates an easy, fast and safe service. STP system perform a direct payment from Bank Mandiri to designated Bank overseas so that the transaction can be received the same day as long as its executed before the cut off time.

Outgoing remittance will fulfill your following needs:

  1. School fee payment for your loved ones that studying overseas
  2. Invoice payments of Services performed by companies / professionals overseas
  3. Purchase of imported goods needs to be settled in local currencies
  4. Cash payment for any subsidiaries/company branch overseas

Main product

1. Mandiri Multi Currency Remittance (MMCR)

Outgoing transfer service to various destination countries in USD where the fund will be received in local currency. Currently MMCR service serves up to 112 various currencies.

Benefits

  1. The fund transfer will be received in local currency
  2. Remitter is able to specify the amount expected to be received by the beneficiary in preferred currency to avoid the possibility of excessive or lack of payments.
  3. Competitive exchange rate

2. Mandiri RMB Remittance

Brings you solution to transfer to mainland China or other receiving countries in renminbi currency. Mandiri RMB remittance will provides you with a fast and safe service that you can trust for reminbi transfer for your business and personal needs.

Requirements for Mandiri RMB Remittance:

a. Individual:

  • Remitter is individual, not business entity
  • Remitter is registered as a customer of Bank in China
  • Beneficiary carried a Chinese Citizenship and possesses a Chinese national ID (consist of 15 to 18 digits of ID number)
  • Charges apply is OUR (full amount)
  • Remitter and beneficiary may be different person
  • Purposes of transactions are limited for personal purpose only. Commercial business activities are prohibited
  • Copy of ID or name of the beneficiary in Pin Yin letters are recommended
  • Present CNAPS number to accelerate the remittance process (optional)

b. Business entity / Company

  • Remitter is an individual or business entity
  • Remitter is registered as a customer of Bank in China
  • The maximum amount of transaction are limited to the underlying value
  • Charges apply is OUR or BEN/SHA

RMB remittance transaction limit:

  1. Trade - Limited by the underlying value
  2. Individual transaction - up to maximum USD 50.000/year/beneficiary (RMB equivalent). The purpose is limited for personal and family matters, not for commercial activities.

3. Rupee Remittance

Outgoing transfer service specifically addressed to State Bank of India (SBI) account holder in India where the beneficiary will receive the payment in INR currency in full amount.

The requirements are as follows:

  1. Amount
    1. The amount of the transaction are unlimited if the source of fund is in USD
    2. The limits of the amount of the transaction are limited by the underlying value if the source of fund is in other currency besides USD.
  2. Cut off time
    Transfer instruction will be proceed at the same day with the time limit as follow:
    1. Transfer instruction submission : before 12.00 pm
    2. Sending Process : 12.30 pm
  3. Remitter and beneficiary could be individual or company.
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