‘Rekening Valas’ offers easy way to improve your finances | Bahasa
Tips for dealing with economic challenges
An analysis made by the DBS team and data from Bloomberg Finance show that during the Covid-19-triggered global financial market shocks in the first quarter of 2020, the Indonesia Composite Index (ICI) corrected by more than 30% in March. The correction was caused by investor panic over the spread of Covid-19 around the world. As a result, most of the stock prices on the Indonesia Stock Exchange collapsed. However, the US dollar strengthened by more than 15% against the rupiah in the same period, to the benefit of people who saved in US dollars.
Therefore, saving in foreign currencies or opening a forex savings account is an attractive option. However, you should not buy foreign currencies carelessly. You can minimize the risk by saving your foreign currencies through a safe and reliable bank or official finance institution. Understanding people’s need for forex savings, digibank by DBS has recently launched its latest feature, ‘Rekening Valas’, which enables customers to manage foreign currency savings in 10 different currencies using a single application. With competitive exchange rates, ‘Rekening Valas’ is available in a number of currencies, including the USD, SGD, AUD, NZD, EUR, GBP, JPY, HKD, CAD, and CHF. In addition to being accessible anytime and anywhere, 24 hours a day, ‘Rekening Valas’ does not charge account administration fee or conversion fee.
“Financial stability is important in every situation and we see this can be achieved through democratizing financial services to enable people to manage their finances easily and quickly. In line with this viewpoint, we believe that banking matters should not be a hassle for customers, especially in the current situation. Therefore, Bank DBS Indonesia through digibank by DBS continues to innovate to offer customer convenience through our comprehensive and practical digital banking services. As a pioneer of digital banking in Indonesia, we want to convince people that with digibank, everyone can (#SemuaPastiBisa) manage and develop their finances safely and comfortably,” said Managing Director, Head of Digital Banking, PT Bank DBS Indonesia, Leonardo Koesmanto.
The ‘Rekening Valas’ feature can be accessed by Indonesians who have digibank by DBS accounts. Opening an account is also very easy as it is a completely branchless, paperless and signatureless process, thanks to banking digitization. By using the digibank by DBS application and making appointments through the application to leverage data, people can now open digibank by DBS accounts and enjoy complete digital banking services, from daily banking transactions to investments.
“In times like these, you should not measure your investment solely by its returns but also by the risk. As investors, we must also look at the risks inherent in an investment instrument. We must also consider the liquidity factor. Foreign currency savings meet the criteria because they are highly liquid and can become an emergency fund. The risk is quite low as it follows the development of the money market. However, it should be noted that saving money should not be done recklessly to prevent losses. Saving your foreign currencies in digital banking institutions are the right way to do because security is guaranteed and access is open 24 hours a day without the need to go to a branch office," said Big Alpha CEO Tirta Prayudha.
In accordance with the principle of democratizing financial services, digibank by DBS through the #AllPastiBisa campaign has completed two new features, namely ‘Rekening Valas’ (Multi Currency Account) and Secondary Market Bonds. The two features allow people to move forward and improve their financial condition with digibank by DBS. Today, customers have more flexibility in investing their money thanks to a wide selection of product choices that can be accessed anytime and anywhere to help customers manage and develop their emergency funds in the new normal.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
