Comparison of Bi-Fast, Llg, & Fast Online Transfer

Recognize the difference between BI-Fast, LLG, RTGS, and Online Transfer: Cost, Limit, and Speed. Select the best interbank transfer method for you!

Have you ever been confused when you want to transfer interbank money because there are so many choices available? Starting from online transfer (RTO) that is fast and easy, to the latest services such as Bi-Fast, as well as classic options such as LLG/SKNBI (clearing), to RTGS which is usually for large transactions.

Each method has advantages and disadvantages of each, especially about the cost, speed, and maximum limit of transactions. So that you don’t choose the wrong money and transfer money become more efficient, let’s discuss one by one completely and simple, so you can understand and be able to adjust to your needs!

Also read: How to Calculate Percent of Loan Interest: Formula, Simulation, and Anti Boncos Tips

Comparison of Bi-Fast, LLG/SKNBI, and other money transfer methods

1. Transfer Online / Real-Time Online (RTO)

If you used to use ATMs, mobile banking, or internet banking for transfer of money that immediately reached the destination account, that is called online transfer or real-time online (RTO). The process is instant, so the money can be directly accepted in seconds without the need to wait long, and this service is active 24 hours a day, 7 days a week, so you can transfer at any time, even at midnight.

• Cost: The transfer fee is usually around Rp. 6,500 to Rp. 7,500 per transaction, but it can vary depending on the bank where you open the account.
• Limit: Generally the transfer limit per transaction can be up to Rp50 million, but this can also differ depending on the type of account or card that you have at the bank. For example, an ordinary savings account may be lower than a premium account.
• Profit: The process is very fast and very easy to use, suitable for daily transactions or when you need a sudden transfer.
• Loss: If you often transfer large amounts, the cost per transaction is quite high, this can make a transfer expenditure so it is quite large too. So it is not quite right if you often send money in a large nominal routine.

2. Bi-Fast

Bi-Fast is an instant money transfer service from Bank Indonesia that you can also use for 24 hours nonstop. The difference with RTO, Bi-Fast is far more cost-effective and the transaction limit per transfer is greater, up to up to Rp250 million. Very suitable for those of you who often transfer large amounts but still want low costs and fast processes.

• Cost: Only Rp2,500 per transaction, much cheaper than RTO. So you can save a lot if you often transfer between banks.
• Limit: Up to Rp250 million once the transaction, but this limit can differ depending on the policy of each bank. Some limit per day, some are per transaction.
• Superiority: Bi-Fast has a proxy address feature, so you can use your cellphone number or email address instead of the account number when transferring. This makes the transfer even easier and minimal risk input input long account numbers. The system is also equipped with sophisticated security features, such as fraud detection and data encryption, so your transactions remain safe.
• Notes: Although this service is increasingly general, but not all banks in Indonesia support BI-Fast. So before transfer, first check your bank’s official application or site to ensure this feature is available.

3. LLG / SKNBI (Clearing)

If you use LLG or Bank Indonesia National Clearing System (SKNBI), the transfer is not instant like RTO or BI-Fast. The transfer process must pass the clearing system that connects the sending bank and the recipient bank via Bank Indonesia, so that the new funds can reach in 1 to 3 working days.

• Cost: The transfer fee is quite cheap, around Rp2,500 to Rp2,900 per transaction.
• Limit: Can be up to Rp500 million or more, depending on the policy of each bank.
• Suitable for: Transfer of money in large quantities that do not need to immediately reach the recipient’s account, for example for routine payments or sending funds between companies.

4. RTGS (Real-Time Dirty Settlement)

If you need to transfer large amounts of money (at least Rp. 100 million) and want the process to be fast, service RTGS is the right choice. RTGS is fast, money can reach the destination account within 3 to 4 hours, but only applies during Bank Indonesia working hours, usually Monday to Friday at 08.00 to 15.00 WIB.

• Cost: The transfer fee is more expensive, usually starting from Rp. 20,000 to Rp. 30,000 per transaction, depending on the bank.
• Limit: Minimum of Rp100 million per transaction, with a maximum limit that can reach billions of rupiah.
• Ideal for: Transfer large funds with fast needs, for example business transactions or investments that must be processed immediately.

If you often make a transfer, adjust the method with your needs and budget. If you want to save money and stay fast, Bi-Fast is usually the best choice. But if you need a very big and fast transfer, RTGS can be a solution. Don’t forget to always check the service updates and limits from each bank because it can change!

Also read: Current Account: Function, How to Get, and Examples

SCORTLIFE: Complete Solution to Adjust Finance

If you want to be more than just making money transfer, Scorelife Present as a complete solution to manage your finances better. With features ScorpineYou can manage all credit cards in one dashboard that is easily accessible, monitoring due, analyzing shopping patterns, and of course avoiding late payments that can be detrimental.

In addition, the credit history check feature allows you to see the score and credit patterns transparently, so you can be more confident when applying for credit, such as mortgages or vehicle loans. Not only that, Skillife also provides a credit application opportunity, which helps you understand the opportunity for credit approval so that it can be better prepared and planned.

To help manage daily finances, there are financial management features that provide recommendations for arrears and personal budget regulation, making your financial transfer and management process more smooth and organized. By using SCamelife, you not only make a quick transfer through Bi-Fast, but also undergoing intelligent and planned financial management. So, it’s time #transferldas with grace.