Daily Transfer Limits and Requirements for Sending SGD to Indonesia

Key takeaways

• Daily limits vary by provider, but many cap transfers to Indonesia at around SGD 200,000.
• Underlying documentations are required for transfers above the daily limits.
• Outward remittances to Indonesia require you to declare the purpose of transfers (POT).
• Besides your provider, always check with the recipient’s bank for the maximum amount of inward remittances allowed per day.
• For a smooth transfer, make sure that the beneficiary details—recipient’s name, bank name, account number and SWIFT/BIC code—are correct. 
• It’s always best to consult your provider directly when planning a large money transfer overseas. You may qualify for preferential rates and higher limits, offered exclusively for large transactions.

Planning on making large transfers from Singapore to Indonesia? We understand that the process can seem confusing, beyond regular international money transfers you’d send for smaller, day-to-day purposes.

When sending large sums of SGD to Indonesia, you must adhere to the daily limits and requirements in place. As these can vary by provider, knowing them upfront helps ensure your international money transfers go through smoothly, without delays or complications.

If you’re unsure where to start or which rules apply, this guide will help you understand the maximum amount of SGD you can send to Indonesia in a day, followed by requirements involved. Continue reading to know what to prepare and expect.

Understanding Daily Limits for International Transfers

Your international money transfer from Singapore to Indonesia come with daily limits, mainly for these key reasons:

• Fraud prevention: Financial institutions implement daily limits to prevent attackers from draining a user’s compromised account. This caps potential losses and reduces the impact of unauthorised transactions while recovery processes are underway.
• Compliance with financial regulations: Banks and money transfer operators (MTOs) are required to follow anti-money laundering and other financial regulations, which may involve capping daily transfer amounts.
• Risk management: Daily transfer caps are imposed to manage risk exposure. If suspicious or fraudulent activity is detected, these limits give providers time to identify the issue and take action before losses escalate.

Simply put, daily limits act like a circuit breaker in financial systems. Should any fraudulent activity occur, banks and money transfer operators (MTOs) can buy time to intervene and prevent losses from becoming catastrophic.

What determines daily limits when sending SGD to Indonesia?

Financial institutions such as banks and money transfer operators (MTOs) may cap daily transfers differently. It’s best to check with your provider for the exact international money transfer limits.

That said, the following factors may influence the maximum amount of SGD to send to Indonesia:

• Account type or tier: Limits may vary depending on a user’s account type—personal vs business—as well as the account tier. Most often, a business account with a higher tier allows for higher outward remittance limits.
• Verification level: Fully verified accounts, with ID, proof of address and source of funds, usually get higher limits compared to partially verified accounts.
• Payment method: When using an MTO like Instarem or Wise, your source of funding may impact the limit. The amount may differ depending on whether you’re using a debit or credit card, bank transfer or a payment service like PayNow.
• The recipient country: Indonesian financial institutions may specify the maximum amount an individual or business can receive. Senders are also required to declare the purpose of transfer (POT) to comply with regulations set by the central bank. 
• The recipient’s mode of collection: How your recipient in Indonesia collects the funds, whether into a bank account or an e-wallet like DANA, Gopay or OVO, can affect the maximum amount you can send at once—mainly for security reasons.

Inward remittances exceeding a certain value may require underlying documents as ruled by the central bank (i.e., Bank Indonesia).

Typical daily limits by providers: traditional banks vs money transfer operators (MTOs)

As previously said, daily limits may vary by service providers. The following table compares the typical daily transfer limits between traditional banks and money transfer operators (MTOs).

Note: These figures are approximate and subject to change without notice. Always check with your chosen service provider before initiating a large transfer.

Documentation required for sending to Indonesia from Singapore

Regardless of the amount, you’ll be asked to present some documents to make international money transfers to Indonesia. The requirements may differ between small and large transfers, but these recipient details are typically needed even for smaller amounts:

• Full legal name
• Bank name
• Account number
• SWIFT/BIC code
• Purpose of Transfer (POT)

Make sure to provide the correct recipient details, as any mistakes may create unnecessary delays or complications.

Additional documentation for large transfers

Additional documentation will be required when initiating a large transfer, or any transfer that exceeds the daily limits. Typically, these are what you need to present when sending large sums of SGD to Indonesia:

• A government-issued ID (NRIC, FIN or passport)
• Proof of address
• Recipient details (full name, bank account and bank information)
• Purpose of transfer (e.g., property purchases, investment, family support, etc)
• Source of funds (e,g., bank statements, payslips, sale agreements, etc)

Note that your provider may ask for more details. Should they do, they’ll inform you of the specific documents required and assist you through the next steps to complete your transfer.

How long do transfers typically arrive?

Outward remittances from Singapore to Indonesia can settle anywhere from a few hours or the same day to several business days, depending on the provider and payment method.

• Money transfer operators: MTOs like Instarem, Wise and Remitly often process funds faster than conventional banks. Your SGD transfers to Indonesia can arrive within a few hours or on the same day.
• Conventional banks: Many banks offer same-day settlement as long as transfers are initiated before the cut-off times. However, some still depend on traditional wire transfer methods that can take a few business days to complete.

Note that delays might still occur, particularly for high-value transfers. Understanding the potential causes of delays helps you plan ahead to ensure your funds arrive smoothly without complications.

Potential causes of delays in your international money transfers to Indonesia

While most SGD transfers to Indonesia are processed smoothly, delays can sometimes occur, particularly for larger amounts. Reasons range from system processing to documentation requirements, which include:

• Inaccurate or missing beneficiary details: Any mistakes in the recipient’s name, bank account number or SWIFT/BIC code can result in delays. Transfers may be rejected, returned or placed on hold for verification, which can extend processing times.
• Cut-off time and public holidays: Initiating a bank wire transfer after the daily cut-off time, or close to weekends or public holidays in Indonesia, may result in delays, as banks typically process transactions on the next working day.
• Country-specific regulations: Large or unusual transfers may trigger compliance checks, temporarily holding your funds and extending the times for the money to reach the recipient.
• Insufficient KYC documentation: Transfers, particularly those of high-value, from partially verified accounts may be paused until you provide the mandatory Know Your Customer (KYC) information.
• Transfers are flagged as suspicious: If your provider detects unusual activity, the transfer may be paused for review. While this doesn’t mean you’ve committed any wrongdoings, additional verification may be required for the transfer to go through.

Tips for sending large sums of SGD to Indonesia

Delays are the last thing you want when transferring money overseas. Knowing what to prepare in advance can help your transfer go through smoothly, especially for high-value transactions that may trigger additional reviews and longer processing times.

Follow these tips before sending large sums of SGD to Indonesia:

1. Complete account verification

Large transfers are often closely monitored due to their higher risk profile. Your service provider needs to ensure that your transfer is of legitimate intent. This is why you should fully verify your account by submitting your ID, proof of address, and source of funds.

With a fully verified account, your transactions are less likely to be flagged. As a result, funds can go through smoothly and arrive in the recipient’s bank account without unnecessary delays or complications.

2. Provide accurate recipient details

Inaccurate or missing recipient details can result in delays. Always double-check the recipient’s name, bank account number, SWIFT/BIC code and other necessary information before initiating a transfer.

3. Declare the Purpose of Transfer (POT) clearly

Indonesia’s central bank, Bank Indonesia, mandates documentations for large foreign inflows to prevent money laundering, illegal activities and to monitor foreign exchange movements.

Make sure to declare your Purpose of Transfer (POT) clearly when sending SGD to Indonesia. This helps your service provider process your transfer without unnecessary checks or delays.

4. Avoid unusual transfer patterns

Even when your large transfer is of honest intent, your service provider might temporarily hold your funds if it detects unusual patterns. This can be due to a lack of history of past large transfers or sudden changes in your typical transaction behaviour.

Either way, it helps to align your large transaction with your normal transfer activity or notify your provider in advance.

5. Reach out to your provider if needed

Sending a large sum of money comes with greater complexity. If you’re unsure, reaching out to your provider is the best move for personalised guidance. Your bank or MTO can help you prepare the necessary documents and complete any required verification.

This helps reduce delays and ensures your money reaches the recipient smoothly.

Key considerations when choosing a provider

Besides daily limits, several other factors can affect your transfer. Choosing the right provider often means considering these factors as well, which are particularly important when sending large amounts:

Foreign exchange rates

Foreign exchange rates can vary across service providers. Some offer lower spreads close to the mid-market rate, while others may apply higher markups.

Always compare rates between banks and MTOs, and choose one that offers a rate as close as possible to the mid-market rate. While small differences may seem minor for smaller transactions, they can add up quickly for larger transfers.

Getting closer to the mid-market rate means you keep more of your money when sending funds overseas.

Fee transparency

When sending money overseas, you don’t want to be surprised by extra costs that add up silently. That’s why choosing a provider with full fee transparency matters.

Typically, you should be able to see the total cost of your transfer upfront before completing the transaction. This includes the exchange rate, processing fees, and the exact amount your recipient will receive in IDR.

Settlement speed

Delays in your transfer can disrupt your plans, especially when the funds are time-sensitive. Choosing a provider with fast and reliable settlement times reduces uncertainty and ensures your money reaches the recipient when it’s needed most.

Ideally, look for providers that can settle funds on the same day or even within a few hours. This may include banks that offer same-day processing or MTOs that bypass the SWIFT network and settle funds locally in Indonesia, allowing for faster delivery.

Regulated and licensed

Choose a provider that’s fully regulated and licensed in both Singapore and Indonesia. Proper regulation helps safeguard your funds, ensures compliance with financial laws and reduces the risk of fraud or operational issues, particularly important when sending large transfers.

Customer support

Large transfers can involve extra steps and checks. Responsive customer support helps you understand the requirements, prepare the right documents, and resolve issues quickly, making the transfer process smoother and less stressful.

Final thoughts

Knowing the daily limits and requirements of sending SGD to Indonesia saves you from a lot of delays or complications that might occur. Each provider may have its own limits, typically ranging from SGD 5,000 to SGD 200,000. Always check if yours accommodate your needs.

As for requirements, you’ll need to provide general information like the recipient’s name, bank name, account number and SWIFT/BIC code. Additional verifications may be required for large money transfers, as mandated by Indonesia’s central bank.

Lastly, reaching out to your provider can be helpful if you’re unsure about the process of sending large sums. They can provide guidance on the required documentation, verification steps and timelines to ensure your transfer proceeds smoothly.

Send large international transfers with Instarem

Whether you’re sending SGD for business, investment, or personal needs, you’ll benefit from Instarem’s competitive exchange rates, transparent fees and daily limits of up to SGD 200,000.

Instarem offers a fast, reliable, and cost-effective way to move your money from Singapore to Indonesia with confidence. 

You’ll also have access to dedicated customer support to guide you through documentation requirements and verification, making large transfers smoother and more straightforward.

Sign up to Instarem or read more about large money transfers from Singapore.

FAQs

What is the daily limit for sending SGD to Indonesia?

Daily limits vary by provider. Many banks and money transfer operators (MTOs) allow transfers of up to SGD 200,000 per day, though default limits may be lower. Check directly with your provider for your exact limit.

Do weekend transfers get processed?

Some bank wire transfers are only processed on business days. However, many MTOs use local payout networks (e.g., BI-FAST and RTGS) that may support faster or weekend settlements.

Can I get better rates or higher limits for large transfers?

Yes. Some providers including Instarem offer preferential exchange rates and higher limits for frequent or large transfers.