"Neu" Application Presents Free Transfer Options Between Banks

The flexibility offered by fintech services has given rise to various platforms that make it easier for users to carry out various banking activities. One of the platforms that wants to provide the convenience of banking services is the application New.

PT Neu Financial Inclusion or Neu is here to assist users in conducting various digital transactions. Through Neu, money transfers between banks can be enjoyed free of charge.

Not only bank transfers, users can also use Neu to pay for various needs, including bill payments (bill payments), recording of financial activities, and investing (gold and p2p lending)

Neu is supported by Safecash (PT Inclusion Financial Nusantara) which has a funds transfer permit issued by Bank Indonesia (BI) on August 14, 2019 with license number 21/253/Bd/8.

Safecash is a member of the Fazz Financial Group. DailySocial have contacted Fazz Financial, but have not received further information.

Growth of interbank money transfer platforms

More and more digital platforms are offering solutions to the needs of interbank transfers. Third-party fund transfer apps offer the ability to send money in an easy and cheaper way.

Apart from Neu, other platforms that focus on this are Flip and Oy! Dana also has free features like this, though with certain limitations.

On the other hand, seeing the growth and demand For interbank fund transfers, Bank Indonesia has established a new architecture with a maximum interbank transfer fee of IDR 2.500 per transaction. This policy applies to banks that are members of BI-Fast starting December 1, 2021.