CIMB Niaga Xtra Savers Corporate Account

Published on
July 17, 2023
Written by
Ekky Pramana

CIMB Niaga is one of the leading banks in Indonesia. The Bank was founded in 1955 as Bank Niaga by Harjo Sutanto and Tjia Kian Tie. At the beginning of its establishment, Bank Niaga focused on international trade finance and foreign exchange.

Commitment to provide the best service to its customers and support economic growth in Indonesia realized through a variety of superior products CIMB Niaga.

One of the products related to this line of business is corporate accounts, corporate cards and other supporting services. This discussion will review the types of corporate accounts of one of the largest private banks in Indonesia, namely CIMB Niaga. Where the company's account product is Xtra Savers.

What is CIMB Niaga Xtra Savers corporate account

XTRA Savers is a collection of several previous CIMB Niaga savings, namely Xtra savings, CIMB Preferred Banking Account, CIMB Private Banking Account, Business savings and Xtra forex savings, which were integrated on February 1, 2022.

Tabungan Xtra is one of CIMB's savings products denominated in Rupiah, which is intended for individual customers and corporate who meet the requirements set by the Bank, which offers ease and convenience of transactions supported by unlimited access services, ease of shopping with various discounts and special offers, as well as multilevel daily interest.

Saving is more profitable without monthly administrative fees, another benefit is to provide funding in lighter installments for business. CIMB Niaga has branches throughout Indonesia and a worldwide network of ATMs (ATM CIMB Niaga, ATM Bersama/Prima, ATM CIMB Bank and MEPS and Mastercard network).

Key features of CIMB Niaga Xtra Savers Account for companies

XTRA interest

Xtra interest is calculated from the total average monthly savings balance of up to Rp250,000,000 and is given at the beginning of the following month (M+1) if the customer meets each of the criteria set by the Bank. By continuing to increase the balance starting from Rp25,000,000, the customer will get interest of 2% p.a.

Then, a minimum transaction of Rp1000,00 per month for shopping using debit cards at EDC (Electronic Data Capture) machines and online merchants, scanning QRIS at OCTO Mobile, bill payments or top up e-wallets through OCTO Mobile or OCTO Clicks will get an additional Xtra interest of 0.5% p.a.

XTRA points

Poin Xtra are points given to cardholders who are also CIMB Niaga savings customers as a form of loyalty rewards that can be used to shop or redeemed for various prize options directly.

By using tabungan XTRA Savers, customers can get Poin Xtra for shopping and paying bills. Poin Xtra does not apply to XTRA Savers linked to the XTRA benefits mortgage, XTRA Savers-iB Wadiah, and Xtra Saver forex.

XTRA Currency

There are 11 selected currencies with various benefits including USD, SGD, AUD, EUR, JPY, CAD, HKD, GBP, CHF, CNY, NZD, SAR, and THB. Forex transactions are available 24/7 anywhere using OCTO Mobile and OCTO Clicks, and free of charge bank notes cash withdrawal commissions with a certain limit.

XTRA light mortgage

Enjoy lighter mortgage installments with Tabungan XTRA Savers, 80% of the daily balance of the entire savings balance linked will reduce the installment or loan term.

The balance in the savings account can be used for transactions as usual, there are no conditions for the deposition of funds.

OCTO Clicks

OCTO Clicks was created specifically for those of you who need greater daily transaction capabilities or investment support features such as financial check-ups. 

Ideal for entrepreneurs, business owners and investment lovers, OCTO Clicks is supported by financial check-up (a summary of your assets in CIMB Niaga for the last 6 months), and complete investment features (deposits, term savings, forex accounts, mutual funds, bonds to insurance).

Other benefits that you can take advantage of in supporting daily activities are:

  1. 20x Cash Withdrawal, no cash withdrawal fee in all ATM Bersama, Prima, MEPS and Mastercard or Cirrus Networks;
  2. 20x Transfer, no transfer fees to other banks via OCTO Mobile and OCTO Clicks;
  3. 20x e-Wallet Top up, no e-wallet top up fee via OCTO Mobile and OCTO Clicks.

Costs Associated with The Facilities Offered

Daily shopping transaction limit using Debit Card is Rp25,000,000 (regular card) Rp50,000,000 (CIMB Preferred or Private banking card). The daily withdrawal limit at ATMs is Rp15,000,000 where the type of savings report is in the form of an E-Statement.

Initial account deposit: Rp500,000

Minimum deposited balance: Rp100,000

Dormant Fee: Rp5,000

Stamp Duty: Rp10,000

Debit Card Replacement Fee: Rp20,000

Monthly administration fee and account closing fee are free. Furthermore, the daily transfer limit of e-channel (OCTO CLICKS and ATM) is Rp50,000,000 for ATMs, and Rp200,000,000 for OCTO Clicks and OCTO Mobile. 

Withdraw Cash at ATMs of Other Banks (ATM Bersama, ATM Prima, MEPS, Mastercard or Cirrus) at the following rates:

ATM Prima: Rp7,500  per transaction

ATM Bersama: Rp7,500 per transaction

Mastercard network ATM: Rp30,000 per transaction

MEPs network ATM: Rp16,500 per transaction

Then, interbank transfer fees include:

SKN: Rp2,900  per transaction

RTGS through the counter: Rp30,000  per transaction

RTGS via OCTO Mobile & click: Rp25,000  per transaction

Online: Rp6,500  per transaction

How to open a CIMB Niaga Xtra Savers Account for companies

You can open an account in two ways; by  visiting this website, or by visiting the nearest branch office. Here are the easy steps to register an account through internet banking:

  1. Prepare e-KTP, tin and selfie photo before starting the account opening process;
  2. Start filling in the information required to open an account; and
  3. Continue the verification process with Video Banking.

In each transaction, the user customer must fill in all the necessary data and ensure that all the data required for the transaction has been filled in correctly and completely, and if necessary, then OCTO CLICKS will confirm the input of data by the customer, and ask the customer to enter the OTP sent to the user customer's registered phone which serves as security and consent given to the Bank to process the transaction.

The officer will process the customer's application within a few minutes, then the customer has a valid CIMB Niaga Xtra Savers savings account.

Comparison between CIMB Niaga Xtra Savers Account and other banking products

Versatile Application

Complete features in transactions are provided by simply accessing www.octoclicks.co.id and OCTO Mobile from the Google Play Storeand App Store. Small things like paying by QR, withdrawing and depositing cash without a card, to a list of investments (deposits, mutual funds & bonds), you can experience at OCTO Mobile.

The XTRA Program 

The XTRA Program at CIMB Niaga Xtra Savers, ranging from Xtra interest, Xtra points, and XTRA Currency to Xtra light mortgage installments, was created to introduce Xtra Savers products to the public, and also as an attraction to encourage community participation in opening Xtra Savers savings.

Competitive Interest

Other banks generally apply interest policies through monthly average balances only, in contrast to Xtra Savers savings which go through account opening and transactions through OCTO's app and website. In addition, the opportunity to get 0.5% interest can also be obtained through accumulated transactions of Rp 1,000,000 per month.

Corporate Account Alternative from Aspire

Aspire provides easily obtainable corporate accounts, which are able to make local payments for free and in real time, as well as international transfers easily and quickly.

Get access to USD and RpVirtual accounts for global business expansion, where you can send and receive international payments in over 30 currencies with low and transparent fees.

Corporate accounts can be easily integrated with accounting software such as Journals, Quickbooks, MYOB, Oracle Netsuite, Deskera and SAP. Aspire delivers exceptional business experience with easy use for national and international business scale.

Main Features of Aspire Vs CIMB Niaga Xtra Savers

Cashback

CIMB Niaga offers XTRA points that can be used as a discount. Aspire provides many unlimited 1% cashback benefits including for digital marketing, software subscriptions (SaaS, google suites, open AI and others), your business travel-related expenses (such as Agoda, Garuda Air, AirAsia and others), and telecommunications (Telkomsel, 3 Indonesia, XL Axiata and others).

Corporate Card

CIMB Niaga corporate card in physical form, with debit and credit types, under the umbrella of Mastercard International Inc. For Aspire, the corporate card is virtual and physical, which can function as a credit or debit card, and also under the auspices of Mastercard.

Multi-Forex Transaction

CIMB Niaga provides 13 foreign currencies namely USD, SGD, AUD, EUR, JPY, CAD, HKD, GBP, CHF, CNY, NZD, SAR, and THB. Where customers can get a USD 10 remittance fee rebate for incoming remittance, and free telex fee of USD 5 for outgoing remittance.

Aspire can service over 30 foreign currencies, with access to USD and IDRVirtual accounts for global business expansion with transparent fees and FX rates.


Aspire offers many benefits including 1% cashback, transparent FX fees, and serves more than 30 foreign currencies. Not only that, Aspire has access to USD and IDR virtual accounts for your global business expansion needs.

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ABOUT THE AUTHOR
Ekky Pramana is a seasoned writer specialising in business finance and management. With a writing history at Tech in Asia, Teknoverso, and various other publishers, he leverages his market expertise to empower and educate first-time founders in managing their businesses better.
Ekky Pramana
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