Document background
A Bank Remittance Letter is a crucial financial document used in Indonesian banking transactions to facilitate the transfer of funds between parties. This document is required when initiating both domestic and international fund transfers through Indonesian banks, ensuring compliance with local banking regulations and anti-money laundering requirements. The letter must contain specific information as mandated by Bank Indonesia regulations, including complete details of both the remitter and beneficiary, precise transfer amounts, purpose of remittance, and proper authorizations. Used across various business sectors, the Bank Remittance Letter serves as both an instruction to the bank and a record of the transaction, often requiring supporting documentation for regulatory compliance, particularly for international transfers or high-value transactions.
