FOREIGN EXCHANGE TRANSACTION
Easy and fast solutions to meet your foreign exchange needs through Internet / CommBank Mobile and FX Order Watch services.
Foreign Exchange transaction to fulfill your needs related to payments in foreign currency, and value protection (hedging) towards customers’ wealth
TYPE OF CURRENCIESBank Commonwealth offers 9 choices of currencies:
- US Dollar (USD)
- Australian Dollar (AUD)
- Euro (EUR)
- Poundsterling (GBP)
- Singapore Dollar (SGD)
- Japanese Yen (JPY)
- China Yuan (RMB)
- New Zealand Dollar (NZD)
- Hong Kong Dollar (HKD)
FOREIGN CURRENCY SERVICES SOLUTIONS
FX Order Watch
FX Order Watch is the FX order instruction facility with the rate confirmed by customer with automatic settlement if instruction is executed. There are three types of FX Order:
1. FX Order Intraday
Price observations performed while the price in the world currency market moves within the operating hours of Bank (observation period on 08.00 WIB – 16.00 WIB).
2. FX Order Overnight
Price observations performed while the price in the world currency market moves outside of the operating hours of the Bank (observation period on 17.00 WIB – 08.00 WIB).
3. FX Order Good til date (GTD)
Price observations are performed while the price in the world currency market moves during the observation period which starts from the day customer places the order until the next Monday working day (observation period on 17:00 WIB on the day the order is placed – 08:00 WIB the next Monday working day).
News updates on currency market conditions by the Bank Commonwealth Treasury team. Customers can receive the latest news via phone or SMS.
The information that is prepared and distributed by the Bank Commonwealth Treasury team is made based on publicly available information and comes from a trusted source. Available information and foreign exchange rates may change at any time without notice.
The available foreign exchange transactions are today transactions, where transactions are carried out today using today's exchange rate with the same delivery period as the transaction date.
- Each party shall use Rupiah in any transactions conducted in Indonesia territory, for cash and non-cash transactions.
- The transactions include any transactions that have the purpose of payment, settlement of other obligations that must be paid with money and / or other financial transaction instruments.
Bank Commonwealth Tutorial: Foreign Exchange Internet Banking
- Potential capital gain in short term or long term period
- High liquidity, since it can be traded anytime
- Available in various currencies which would give trading flexibility
- Two types of potential capital gain (either the value of the foreign currency rise or depreciate)
- Active market for 24 hours nonstop, 5 days a week
- Information Transparency
Easily attainable foreign currency value information
- Low cost
Transaction fee is taken from spread between buy and sell price
RISKMarket Risk - Volatile price movement affected by market and economic conditions, which would results in investors experiencing capital loss.
TERMS & CONDITIONS FOR FOREIGN EXCHANGE TRANSACTION
- Age between 21-75 years old or married
- Have an active Bank Commonwealth account
- Attaching a copy tax ID
- Fill in and sign Request Foreign Exchange Form, Terms and Conditions, Power of Attorney to block and debit bank account, and Fax Indemnity letter
Should you require further information, please contact Call Commbank (24 hours) in 15000-30 or (area code) 15000-30 from mobile or visit our nearest branch.
Foreign Exchange Rates
For the convenience of our Customers, Bank Commonwealth offers an Internet Banking/CommBank Mobile 24-hours service for Foreign Exchange transactions with easy yet instant special rate.
For further service, during business hours, our Customers can also enjoy a special rate of foreign exchange transaction service for the amount of more than or equivalent to USD5,000.
FEE & CHARGESThere is no additional fee for foreign exchange transaction only a spread between buy and sell price.
DISCLAIMER:Foreign exchange transaction has market risk in regards to foreign exchange market movement. Customers are required to read and understand the risk related to the transaction before making any decisions on transactions.