One of the attractions of customers to deposit or save their money in a bank is because of the low administrative costs. These fees include monthly administration fees, transfer fees, and other costs related to services provided by the bank.
Then, what is the cheapest bank administration fee in 2022? IDR 0 or free. There are some banks that do give free administration fees and transfer fees. These include banks:
The first free bank for admin and transfer fees is Bank Jago. This digital bank does provide a lot of services and ease of online transactions for all its customers.
At this bank, you can even open as many as 40 accounts at once so you can more freely allocate your savings funds. There is also a Bank Jago Locked Pocket feature which can only be withdrawn after 14 days.
Bank Jago can also link your mutual fund portfolio in your seed account to this application. You can also connect your Gojek account to Bank Jago, you know. In addition to free admin fees and transfer fees, you will also get:
- Free account opening fee
- Free account closing fee
- Free dormant account fees (no transactions under 6 months)
- Free send money to other Bank Jago accounts
- Free transfer to any bank via Bank Jago 25 times per month (if the quota runs out, you will be charged a transfer fee of IDR 3,000 per transaction)
- Gopay balance top up for free
- 25x free transfer quota and top up E-Wallet for 1 month.
Aladdin Sharia Bank
Second, there is Aladin Syariah Bank, which is a digital bank that helps you carry out banking transactions with the Islamic system. There is a Goal Saver feature that helps you save for various short-term financial goals.
You can also open 20 accounts with this 1 bank account. You will also not be charged with Admin Fee, Transfer Fee, and Cash Withdrawal Fee.
Third, there is Line Bank by Hana Bank. Line Bank is a Digital Bank which is the result of a collaboration between PT Bank KEB Hana Indonesia (Hana Bank) and LINE Corporation. Line Bank is also safe because it has been registered & supervised by OJK and guaranteed by LPS. By opening an account at Line Bank, you will also get an ATM card with a cute and attractive design.
With Line Bank, you will get:
- Free administration fees, fees below the minimum balance, account opening fees, account closing fees and free dormant account fees.
- Free card-free cash withdrawals at Hana Bank ATMs.
- Free transfer fee.
- Free online transfer fees to other banks*.
- Free transfer to Hana Bank account.
For more information, you can contact the Line Bank call center at 1-500-021 Seabank Indonesia
Read also: How to close a BRI bank
Bank Free of Admin Fees and the next Transfer is Seabank. Through Seabank, you can properly connect your Shopee account so you can top up Shopeepay and Shopee VA (Virtual Account) payments for free without admin fees.
This digital bank will certainly make your banking transactions easier. Everything can be done online using Seabank. Starting from checking balances, transferring, paying bills, and the like.
PT Bank Seabank Indonesia or Seabank itself is owned by Sea Group which is also the parent company of the e-commerce site Shopee and Garena Online Game Publisher. Before being acquired by Sea Group in February 2021, Seabank was known as PT Bank Kesejahteraan Ekonomi (Bank BKE).
Tariffs & transaction fees using Seabank:
- Account opening fee : Free
- Minimum initial balance : IDR 0
- Minimum balance per month : IDR 0
- Balance penalty fee (Fall Below Fee): Free
- Administration fee: Free
- Account closing fee: Free
- Dormitory account fee: Free
- Transfer fees between SeaBank accounts: Free
- Transfer fee to SeaBank Virtual Account : Free
- Transfer fees to other bank accounts (RTOL): Free
- Transfer fee to another bank account (SKN): Free
Next, there is the Raya Bank. PT Bank Raya Indonesia Tbk itself is a subsidiary of BRI which is engaged in micro banking. Bank Raya is the digital bank of Bank BRI, previously known as BRI Agroniaga.
With this digital bank application, you can open an account online. In addition, you will also not be charged a monthly administration fee. In order to support its business activities, as of the end of 2020. The company has around 18 branch offices, 20 sub-branches, and 4 cash offices spread throughout Indonesia.
Next up, there’s Neo Bank. This Digital Bank also offers the option of free admin fees and free transfer fees to other banks. In addition, NeoBank itself also offers loan interest of 6% per year and deposit interest of up to 8% per year. The interest rate offered by Neobank is much higher than the interest offered by other banks.
The cheapest bank administration fee for 2022 is IDR 0 or free. There are several banks free of admin fees and transfers in Indonesia. Among them are: Bank Jago, Bank Aladin Syariah, Line Bank, Seabank, Bank Raya, and Neo Bank.