Providing foreign exchange transactions with competitive exchange rates for business needs
Transactions can be done through various service channels (Velocity, ONe Mobile and Branches)
Flexibility to choose currencies according to business needs
I. Product Description
FX Today is an FX transaction in which the completion of transaction can be done on the same day as the transaction date (T+0).
FX Non-Today (FX Tomorrow, FX Spot dan FX Forward) is the buying/selling transaction of foreign exchange with agreed FX rate by customer and bank with completion minimum 1 business day after transaction date.
II. Product Simulation
1. FX Today
Customers wants to buy/sell USD 10,000 by exchanging IDR currency for today’s date of maturity (today’s rate for USD 1 = Rp 13.000).
Therefore, if customers purchase USD, their IDR account will be debited amounting to Rp 13.000.000, and credited into customers’ FX account amounting to USD 10.000.
If customers sell USD, their FX account will be debited amounting to USD 10.000 and credited to IDR account amounting to Rp 13.000.000.
2. FX Non-Today
On settlement date, USD/IDR rate experiences an increase of IDR 10.500
Therefore, customers will experience gain since they conduct transaction below market price, for on settlement date, customers are only required to provide IDR 100.000.000 (from what is supposed to be IDR 105.000.000
On settlement date, USD/IDR rate experiences a decrease of IDR 9.000
Therefore, customers will make a more expensive payment, which is IDR 100.000.000 since they were conducting transaction above market price (from what is supposed to be IDR 90.000.000)
III. Risk of Product and Other Information
IV. Facility / Channel
Transactions can be done at all Bank OCBC NISP branch offices
V. Complaint Procedure
Customers can submit complaints related to products DNDF through: