Bareksa, Danamon Roll Out Direct Debit for Investment Payments of up to Rp1 Billion

Press Release / 27 September 2023

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Jakarta, 27 September 2023 – Online investment platform Bareksa has embarked on a collaboration with PT Bank Danamon Indonesia Tbk ("Danamon") in offering a variety of innovations and breakthroughs in wealth-tech and digital banking areas. The collaboration is realized through the integration between Danamon direct debit feature on Bareksa app for both iOS and Android users. 

Through this integration, Bareksa app users can now enjoy payment feature by using a direct debit payment method in a Danamon account (Direct Debit) that is practical, fast, automatically verified, and free of charge. Part of this collaboration is the convenience provided for Bareksa customers to open a Danamon account, or for customers who already have a Danamon account, the convenience to link their Bareksa account with their Danamon account – all of which can be done seamlessly on the Bareksa app.

Bareksa Co-Founder and CEO Karaniya Dharmasaputra said: “We are thankful for the trust given by Bareksa for Bank Danamon. As we are aware, Danamon is one of Indonesia’s largest banks owned by global investor MUFG. The launching of this direct debit feature is our first step in a collaboration intended to become a strategic one, designed to support inclusion and deepening of the national capital market, as well as to boost the rapid growth of online investment and digital banking services."  

PT Bank Danamon Indonesia Tbk Chief Digital Officer Andreas Kurniawan added: "Danamon is pleased with the collaboration in the launching of API onboarding and direct debit features with Bareksa as one of the largest financial and investment marketplaces in Indonesia. "This collaboration is part of Danamon's strategy to adopt an ecosystem approach and synergy with fintech companies in developing our business."

This collaboration is also aimed at attracting new customers and expanding the target of Danamon's Wealth Management service segment, which is the next segment eyed by the bank after previously focusing on tapping potentials in the automotive, real estate, and education industries.

Apart from the various advantages mentioned above, another feature of note is that Bareksa Platinum customers (who have an AUM value of at least Rp100 million) no longer have to transfer funds when buying mutual funds with a big value. The direct debit payment feature allows payments with a large transaction value limit of Rp1 billion per day per customer. This payment feature is available for purchasing mutual funds at Bareksa, be it for the Mutual Funds, Bareksa Umrah and Robo Advisor menus.

"This Rp1 billion limit is an initial stage. If all goes well, we aim to further increase the daily transaction limit," Karaniya added.

On top of that, opening a new Danamon account through the Bareksa app can also be done easily and quickly. Bareksa customers only need to confirm data updates on the Bareksa app and verify the data via video call with a Danamon agent. Upon connecting a Danamon account with a Bareksa account, customers can immediately make mutual fund purchase transactions in the Bareksa app through Direct Debit Danamon.

As part of the launching of the collaboration, Bareksa and Danamon give an attractive promotion totaling Rp85,000. To register a new Danamon account via the Bareksa app, customers can get cashback of Rp35,000. For mutual fund purchase transactions at Bareksa using Danamon direct debit, customers can get Rp50,000 cashback. For more information on the terms and conditions of this promo, please visit the Bareksa app, website, and social media.

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