Bank Central Asia or more commonly known as BCA, is one of the largest banks in Indonesia, serving more than 31 million customers and processing around 62 million transactions daily from its published data. The bank, which was founded in 1955, has total assets of more than 1200 trillion, with a net profit of 18 trillion in the 2021 financial statements.
BCA has succeeded in achieving its vision to become the preferred bank of the population who play an active role in the Indonesian economy, this is proven by BCA by occupying the third position of the Largest Bank in Indonesia based on asset size as seen from the latest financial statements of the national banking sector for 2021.
Therefore, BCA has become the most sought after bank, preferred by consumers to meet the needs of banking services for personal, non-profit and corporate customers. Here below we provide an overview of some of its services, namely personal accounts and BCA business accounts.
BCA Personal Account
BCA provides various product salternative for personal savings or personal accounts in the form of individual savings, individual loans, wealth management, electronic money, credit cards and BCA rewards. Individual savings are divided into several essential personal account savings options, including:
- Tahapan;
- Tahapan Xpresi;
- Tahapan Gold;
- Tahapan Berjangka;
- Simpanan Pelajar;
- Tapres;
- Tabunganku;
- Laku;
- BCA Dollar;
- Deposito Berjangka BCA; dan
- e-Deposito.
For each account opening at Bank BCA, consumers are required to provide the required documents and meet some conditions. Namely to have an identity card in accordance with the applicable legal provisions such as KTP for Indonesian citizens or KITAS for foreign nationals, as well as a tax identification number (NPWP/TIN). Customers will also be asked to complete an employment certificate for those with employee status as well as a certificate from the RT/RW (neighborhood/ward) stating the job and income amount of the prospective consumer.
Personal account registration is done by visiting the nearest BCA branch office directly or online through the official BCA website by filling out the BCA webform, or by downloading the BCA mobile banking application on your smartphone. Furthermore, you will get a BCA card and passbook as a means to perform banking transactions.
BCA Personal Interest Rate
The interest rates offered by BCA for individual/personal saving account or current accounts will differs according to account amounts, and adjusted to the type of currency and accounts chosen by customers in their savings, including the following:
- Tahapan : 0,00% - 0,05%
- Tahapan Xpresi : 0,00% - 0,05%
- Tahapan Gold : 0,00% - 0,05%
- Tahapan Berjangka : 1,00% - 1,70%
- Simpanan Pelajar : -
- Tapres : 0,00% - 0,20%
- Tabunganku : 0,00% - 0,20%
- Laku : -
- BCA Dollar : 0,00% - 0,10%
- Deposito Berjangka BCA : 1.90%
- e-Deposito : 1.90%
BCA Personal Account Opening Fee
Meanwhile, the fee of opening each BCA personal account product also varies. This fee is charged outside of the minimum initial balance placement. The administrative fees to open a personal account at BCA are as follows:
- Tahapan : Rp10.000 – Rp20.000
- Tahapan Xpresi : Rp25.000
- Tahapan Gold : Rp10.000 – Rp20.000
- Tahapan Berjangka : Free of charge
- Simpanan Pelajar : mulai dari Rp5.000
- Tapres : Rp15.000 – Rp20.000
- Tabunganku : Free of charge
- Laku : Free of charge
- BCA Dollar : Free of charge
- Deposito Berjangka BCA : Free of charge
- e-Deposito : Free of charge
BCA Business Account
Aside from individual saving and current accounts, BCA also provides other products to better suit the needs of company and corporate entities. Business account in BCA are further divided into variants for different types of business entities (PT, CV, UD or PMA), as well as individual business categories. These products includes : BCA Dollars; Time deposit; Current Account; and Tahapan Gold.
The requirements to open this business account include completing the following documents:
- Identity card of the founder and person in charge of the company (KTP for Indonesian citizens and KITAS for foreigners);
- Tax Identification Number (NPWP) of the founder and person in charge of the company;
- Deed of Incorporation;
- SK Kemenkumham company;
- Company Tax Identification Number (NPWP) ;
- Company domicile permit;
- NIB; and
- Business License from OSS.
If your business is only comprised of an individual, the requirements needed are:
- Identity card of the founder and person in charge of the company (KTP for Indonesian citizens and KITAS for foreigners);
- Tax Identification Number (NPWP) of the founder and person in charge of the company;
- individual NIB;
- Business domicile permit; and
- Individual Business License from OSS.
The BCA business account holder is required to submit these documents to the BCA bank, as well as one or more specimens (examples) of the Account Holder's signature, or one or more signature specimens of the authorized person representing the Account Holder who will conduct transactions in the name of the business account.
Business account holders are also required to notify BCA bank in writing regarding data or changes to account holder data, including personal information in the form of name, address, telephone number, and identity cards such as KTP or KITAS and NPWP (TIN).
Furthermore, the customer will receive a monthly statement regarding the current account, where the current account in the name of the account holder issued based on BCA's books is valid as valid evidence regarding the mutation, time, and amount of money contained in the business account.
BCA Business Interest Rate
Not much different from personal accounts, the interest rate applicable to business accounts is adjusted to the type of account and currency chosen by the customer in his business account, as well as the total amount in the account.
- BCA Dollar : 0.00% - 0.10%
- Time Deposit : 1.90%
- Current Account :-
- Tahapan Gold : 0.00% - 0.05%
BCA Business Account Opening Fee
As mentioned above, This fee is different from the monthly administration fee or the initial deposit made to open the account. The costs to open a BCA business account are as follow:
- BCA Dollar : Free of charge
- Time Deposit : Free of charge
- Current Account : Free of charge
- Tahapan Gold: Free of charge
In addition to the two aforementioned products, BCA also focuses on vehicle financing, Islamic banking (syariah), mutual funds, general and life insurance, digital banking, remittances, and venture capitals. This is in line with BCA's mission of fulfilling the various banking needs of customers and providing suitable financial services to achieve optimal customer satisfaction.
BCA is one of the most popular banks in Indonesia to open corporate accounts. However, the majority of people in Indonesia have more than 1 bank account, even more in the case of companies. This could be due to the different attractive interest rates and schemes provided or the promotional programs offered by different banks, or even to fulfill certain needs of business partners or networks at different banks.
In response to this, Aspire all-in-one finance management system provides integrated features for all your operational finance needs.
With Aspire, send and receive money via virtual accounts to various banks all around Indonesia. All transactions will be recorded neatly and integrated with the company's bookkeeping software and budgets for a more transparent reporting. Check out the other Aspire features that can help streamline your company's operational finance management process.
Keep Aspiring with Aspire.
Frequently Asked Questions
How can Aspire support the unique financial needs and challenges of mid-sized businesses?
Aspire offers a comprehensive suite of expense management solutions tailored for mid-market companies. This includes sophisticated corporate cards, advanced budget controls, and streamlined claims and approval policies, all designed to enhance financial efficiency.
How quickly can a mid-market company integrate Aspire's solutions into existing systems and workflows?
Integration with Aspire's expense management solutions is swift and seamless. Mid-market companies can swiftly implement corporate cards with tailored features, set up nuanced budgets, and establish streamlined claims and approval processes, ensuring minimal disruption to existing workflows.
How does Aspire compare to competitors for international money transfers?
Aspire excels in international expense management with FX fees up to 2x cheaper than traditional banks.
Global payments are offered by various providers through business accounts. Read our article to know more about types of business accounts and how to choose the best one for your business. There are many banks and fintech companies offering business accounts to businesses in Singapore. We have covered them all in our blog, you can click the links to view accounts offered by various banks such as DBS, OCBC, Maybank etc.
However, if you are a start-up or a growing business, chances are you may not meet the eligibility criteria for most of these banks or find their charges to be expensive for your liking. You can consider opting for Aspire multi-currency account for global payments which offers you all the benefits, with eligibility criteria which are less stringent. Read our article on bank charges in Singapore for a quick and easy comparison.
What level of customization does Aspire offer to meet the specific financial requirements of mid-market clients?
Aspire understands the diverse financial needs of mid-market clients and provides a high level of customization to tailor solutions accordingly. This includes the ability to customize corporate cards with specific spending limits, rewards, and benefits that align with the unique requirements of each client.
Additionally, Aspire's budgeting features are adaptable to accommodate the distinct financial structures of mid-market enterprises. The platform also allows for fine-tuning approval policies, ensuring they align with the specific workflows and compliance standards of individual mid-market businesses. This commitment to customization empowers mid-market clients to optimize their expense management in a way that best suits their financial goals and operational preferences.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD, EUR, GBP and IDR Accounts activated.
Can Aspire's corporate cards be customized to cater to the specific needs of consulting teams on the go?
Yes, Aspire's corporate cards are highly customizable. Consulting teams can benefit from tailored spending limits, travel-centric perks, and real-time transaction tracking, ensuring that the cards meet the unique requirements of professionals on the move.
How does Aspire support budget management for consulting projects and travel expenses?
Aspire's platform offers sophisticated budget controls that consulting companies can adapt to project-specific needs. This includes setting project budgets, tracking expenditures, and receiving real-time insights to ensure that expenses align with project goals.
What are Aspire Corporate Card FX rates?
At Aspire, we want you to pay the lowest rates in the market.
- Zero card activation fees
- Zero card transaction fees
- Best FX rates, up to 2x cheaper than banks
How does Aspire help consulting companies enforce expense policies and approvals for travel expenses?
Aspire streamlines the claims and approval process, allowing consulting companies to establish and enforce expense policies seamlessly. Customizable approval workflows ensure compliance with company policies and industry regulations.
Is Aspire's platform scalable for consulting companies of varying sizes?
Yes, Aspire's platform is scalable and caters to consulting companies of all sizes. Whether you're a boutique consultancy or a larger firm, the platform's features can be adapted to meet your specific travel and expense management needs.
How can I open a business account in Singapore?
For a business account in Singapore, Aspire is an excellent choice. With a focus on startup and SME needs, Aspire offers a seamless and transparent banking experience.
Benefit from their user-friendly online platform, no minimum balance or account opening fees, and dedicated support for businesses of all sizes.
Aspire is designed to streamline your financial management, making it an ideal partner for entrepreneurs in Singapore.
How long does it take to open an Aspire business account?
Registration with Aspire takes less than 10 minutes which you can do via our website or mobile app.
Once registered, we will get back to you within 5 business days on whether your account has been activated or if we need further documents from you.
Our account verification process varies according to the nature of your business. In exceptional cases, it can take up to 7 days to process your documents.
How can Aspire's corporate cards benefit my startup?
Aspire's corporate cards offer a range of benefits for your startup. Earn 1% unlimited cashback on qualified spends, simplify expense management, enjoy streamlined transactions, and gain real-time insights into spending. With customizable limits, integration with accounting software, and enhanced security features, Aspire's corporate cards are designed to empower your startup's financial efficiency and provide added convenience for your team.
Is Aspire suitable for both early-stage and established startups?
Absolutely, Aspire caters to the needs of both early-stage and established startups. Whether you're just beginning your entrepreneurial journey or have an established business, Aspire offers tailored financial solutions to help streamline your operations.
From managing expenses and optimizing workflows to providing valuable financial insights, Aspire's platform is designed to adapt and scale with your business as it grows. The flexibility and scalability of Aspire make it a suitable choice for startups at various stages of development.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD and IDR* Accounts activated.
However, we recommend keeping your subscription plan amount available on your balance to ensure you're up to date with your payment every month.*
To create a recipient or make any transaction on your IDR Account, you'll need to have a minimum balance of IDR 10,000 on your account.
.webp)
