Customers with accounts in Indonesia: recent domestic payment processing updates

Last updated: 5 July 2016

Effective 1 July, 2016, the threshold structure of Indonesian domestic payments submitted in HSBCnet has changed. Domestic payments in Indonesia submitted on-screen via HSBCnet are processed by Real Time Gross Settlement (RTGS) or Sistem Kliring National (SKN) National Clearing Systems, operated by the Central Bank of Indonesia. As of 1 July, the following updates will apply:

Payments valued up to IDR 500,000,000
Payments at IDR 500 Million or lower are automatically processed via the SKN system. SKN is a domestic electronic payments clearing system for Retail Value Payment System (RVPS) and small value transactions.
Payments valued above IDR 500,000,000
Payments above IDR 500 Million are automatically processed using the RTGS system. RTGS is a local payments clearing system for time-critical and/or High Value Payment System (HPVS) payments that are settled between the sender and beneficiary on a gross basis, near real time.
Payments valued between IDR 100,000,000 and IDR 500,000,000
If you would like these payments processed through the RTGS system, input "Please process via RTGS" in the ‘Instructions to bank’ section of your payment instruction in HSBCnet.

Please note, there is no impact to payments submitted via the File Upload service at this time.

For questions regarding the above RTGS and SKN payments updates, please contact your HSBC Representative.