Several Ways to Change Money at The Bank

Several Ways to Change Money at The Bank

Several Ways to Change Money at The Bank – Giving out holiday allowances (THR) to relatives and other people during the celebration of Eid al-Fitr, has become a very strong tradition in Indonesia. Usually, THR is given in the form of new money in various denominations, ranging from Rp. 2,000 to a maximum of Rp. 100,000.

These new banknotes were generally obtained from new currency exchange services operated by Bank Indonesia and other national banks. Not only by banks, many new money exchange services are also provided by individuals. It’s just that, there is a charge for each nominal that we will exchange.

If you intend to exchange money at the bank, don’t forget to pay attention to the methods and conditions for exchanging money.

1. Cultivate queuing and prepare self-identity

When exchanging money at a bank, the process depends on the number of queues that exist. If it’s crowded, you have to be patient and get in line.

For the requirements, you only need to prepare your own identity card, in this case a KTP. Banks will usually enforce a one-time identity policy for one exchange. The maximum limit for new currency exchange at the bank is IDR 3.7 million.

In addition, prepare a sufficient amount of money. This is because in 1 pack of fractions to be exchanged, there are 100 bills with the same nominal value.

For example, if you want to exchange Rp. 5,000, then you have to bring Rp. 500 thousand. If you only carry IDR 300 thousand, then you can only exchange IDR 2,000 and IDR 1,000 denominations.

2. Location and date of money exchange

Bank Indonesia has prepared a number of locations that will become money changers. The central bank also appealed to the public to exchange money at official exchanges.

Taking into account the latest COVID-19 conditions as well as aspects of public health, rupiah exchange services during the Ramadan / Eid Al-Fitr 1442 H period are carried out through bank offices throughout Indonesia.

In order to better reach the public, BI synergized with banks to add exchange service outlets, from previously 3,742 bank office networks in 2020 to 4,608 bank office networks in 2021 (list of money exchange locations).

The exchange services cover 439 offices in the Jabodebek area, and 4,169 outside the Jabodebek area. The public can get this exchange service from April 12 to May 11, 2021.

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3. BI prepares IDR 152.1 trillion in cash for Ramadan and Eid

Previously reported, in order to meet the people’s need for money during Ramadan and Eid Al-Fitr, Bank Indonesia will circulate currency amounting to Rp152.14 trillion. Head of the BI Money Management Department, Marlison Hakim, said that the period of Ramadan and Idul Fitri is the period of the highest outflow rate throughout the annual cycle of money procurement. On average, 30 percent of the money outflow was in this period.

“BI has prepared currency, both banknotes and coins, amounting to Rp152.14 trillion. These are to be distributed throughout Indonesia,” said Marlison.

Marlison said, of the total money to be circulated of Rp. 152.14 trillion, as much as 90.07 percent were large denominations of Rp. 100,000 and Rp. 50 thousand worth Rp. 137 trillion. Meanwhile, the remaining IDR 15.2 trillion or 9.93 percent is small denominations, IDR 20 thousand and below.

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