How Can Overseas Brokers Deposit/Withdraw to Local Indonesian Banks?

Deposit Withdrawal
S
Surip Cayono
10 Sep 2015, 20:23 2,449 Views
Some time ago, I saw that there are foreign brokers who can deposit/withdrawal from bank accounts in Indonesia. I don't understand how foreign brokers can have payment methods through local banks. If anyone knows, which brokers are like that?

1 Answer

R
rachmat 11 Sep 2015, 10:04

To Surip Cayono,,,

Generally, brokers accept deposits/withdrawals through interbank services, this service is called a wire transfer. For example, from Bank Mandiri/BCA/BNI to a broker's account in the UK, Europe, the US, or Australia for deposits. And when withdrawing, from the broker to a Mandiri/BCA/BNI account owned by you.

If there are brokers who accept Deposits / Withdrawals with BCA, MANDIRI, BRI or BNI, usually these bank accounts are not in the name of the broker, but in the name of an individual, IB or Changer appointed by the broker. Or individuals, IBs or Changers who buy and sell balances/funds/dollars for deposit and withdrawal. This does make transactions easier for sending and withdrawing, but this is very risky if these parties do not have clear legality. In this condition, fraud or deception could be carried out by these parties. If the funds are large, it is best to use a wire transfer service.

For brokers who accept local deposits you can see at forex broker.

Thanks.

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