The Governor of the Bank of Indonesia (BI), Perry Warjiyo, has stated that the new QRIS feature for cash withdrawal, transfer, and cash deposit transactions, known as QRIS Complete, can now be utilised by individuals who do not possess an account.
Furthermore, the cost of utilising QRIS Complete is more economical than transaction fees incurred through other channels.
“Cash withdrawals are only Rp6,500, whereas the norm is Rp10,000 to Rp20,000. The transfer fee is Rp2,500, the same as BI-Fast, even for transactions up to Rp100,000. Additionally, the deposit fee is Rp5,000,” Warjiyo explained.
The QRIS Complete service is slated to become effective between 1st September and 30th November 2023. This implementation depends on the preparedness of each bank and non-bank Payment Service Provider, who can facilitate sources of funds, encompassing bank deposits and electronic money.
QRIS Transfer
Users merely need to scan the QRIS code generated by the funds’ recipient first. Then, select the source of funds, ensuring that the transferred amount is accurate, and enter the PIN. Following this, the user will receive a notification confirming the successful transaction.
Cash Withdrawal
Users can perform fund withdrawal transactions by scanning the QRIS code at ATM machines or QRIS merchants acting as agents or partners for cash withdrawals. To accomplish this, users must visit an ATM machine or a QRIS merchant acting as an agent, and inform them of the intended withdrawal amount.
Afterwards, scan the QR code displayed by the ATM machine or QRIS merchant, select the source of funds, and verify that the fund amount aligns with the intended cash withdrawal. Enter the PIN, and the balance will transfer to the merchant’s account. Upon success, the merchant will dispense the cash.
Cash Deposit
Users only need to visit an ATM machine or a QRIS merchant capable of accepting cash deposits. Communicate the intended deposit amount, and subsequently insert money into the ATM machine or hand over cash to the agent.
Following this, scan the QR code displayed by the ATM machine or agent. The user will then receive a notification confirming the transaction’s success.
This feature proves particularly beneficial for users desiring to deposit cash into a bank (or a non-bank EU Payment Service Provider account), but facing challenges due to the remote distance of the ATM machine or limited bank operating hours.