Danamon Financial Friday Delves into the Many Capabilities of Danamon LEBIH PRO in the Era of Global Education

Press Release / 24 December 2024

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Jakarta, 24 December 2024 – PPT Bank Danamon Indonesia Tbk (Danamon) remains dedicated to addressing the diverse financial needs of its customers, including those of Indonesian families navigating the globalization of education.  In episode eight of the Danamon Financial Friday (DFF) 2024 mini-series, Danamon offers an in-depth exploration of the advantages provided by Danamon LEBIH PRO for parents planning to send their children to study abroad. This innovation by Danamon offers practical insights into managing international finances, strategies for mitigating exchange rate risks, and leveraging the features of Danamon LEBIH PRO to maximize the value of educational investments. The episode can be accessed via bdi.co.id/dff175.

According to UNESCO data as of February 2024, Indonesia ranks second in ASEAN, with a total of 59,224 students pursuing their studies abroad. This phenomenon unfolds against the backdrop of significant currency exchange rate volatility. The US Dollar Exchange Rate Index (DXY) surged to 106.34 towards the end of 2024, exerting depreciation pressure on the Rupiah and other emerging market currencies.

“Danamon Financial Friday, in this episode, will delve deeply into the numerous advantages provided by Danamon Lebih PRO. This product exemplifies our unwavering commitment to delivering financial solutions that are tailored to meet the needs of our customers in today's globalized landscape. We recognize the unique opportunities and challenges that Indonesian families encounter when sending their children to study abroad. Danamon LEBIH PRO is committed to being a reliable financial partner, particularly in managing cross-border transactions," stated Ivan Jaya, Head of Consumer Funding & Wealth Business at PT Bank Danamon Indonesia Tbk. 

When sending children to study abroad, parents must consider not only the international fund transfers required for tuition fees and living expenses but also the financial management necessary for their visits to see their children. This aligns with data from Statistics Indonesia, released on February 1, 2024, which indicates a remarkable surge in the number of Indonesian tourists traveling abroad, totaling 7.52 million trips in 2023. This figure represents an impressive increase of 112.26% compared to the previous year.

Danamon's internal research has revealed that parents with children studying abroad prioritize features that provide the greatest benefits for international money transfers. The most sought-after feature is ease of transaction, followed by competitive foreign exchange rates in second place, and financial consulting services for education planning in third. 

"Through Danamon Financial Friday, we not only offer a range of financial products but also empower our customers with essential financial knowledge. We believe that combining innovative products with the right education will empower Indonesian families to maximize their investment in education on a global scale," Ivan added. 

To that end, Danamon LEBIH PRO features a standout capability that allows customers to manage nine currencies within a single account. These currencies include IDR, USD, SGD, CNY, JPY, AUD, EUR, GBP, and NZD. This product provides competitive foreign exchange rates and includes a guarantee of five times the difference if the customer finds a better rate elsewhere in the market. Danamon LEBIH PRO customers can also benefit from the convenience of international transactions using Debit Cards that are part of the global Mastercard network. Additionally, the Auto Switching Currency feature allows for automatic transactions using the currency balance of the destination country, ensuring optimal efficiency in the face of dynamic exchange rate fluctuations.

On top of that, Danamon LEBIH PRO provides several advantages for navigating the complexities of international transactions.  Cost efficiency is attained through competitive exchange rates and low international transfer fees. The FX Live Rate feature in the D-Bank PRO by Danamon application allows customers to track exchange rates in real-time, ensuring precision in their financial planning.  Multi-currency flexibility enables customers to mitigate the risks associated with exchange rate fluctuations. Additionally, the ease of global transactions is enhanced by the absence of exchange rate conversion fees and the ability to withdraw cash from international ATM networks at no cost.

To enhance the comfort of parents visiting their children studying abroad, Danamon LEBIH PRO offers a 5% cashback on all transactions made overseas. Customers can access all these benefits by maintaining an average monthly balance of Rp5 million, making Danamon LEBIH PRO a cost-effective and high-value solution for Indonesian families with international financial needs. For domestic transactions, customers enjoy additional benefits, including free cash withdrawals at domestic ATMs up to 99 times per month and no fees for BI-FAST transfers via D-Bank PRO, also up to 99 times per month. All of these #BanyakLebihnya features and benefits can be accessed by customers with a minimum pre-transaction balance of R 5 million.

Danamon recognizes the intricate financial needs of parents whose children are studying abroad. We also understand that a parent's visit to their child abroad is not merely an ordinary trip; it is a significant occasion that necessitates adequate financial support. "The introduction of the Danamon LEBIH PRO multi-currency savings product exemplifies Danamon's commitment, alongside its group of companies, to consistently providing comprehensive financial solutions that empower customers to grow with Danamon," Ivan stated.  

For more information about Danamon LEBIH PRO and the schedule for Danamon Financial Friday, please visit www.danamon.co.id or contact the Hello Danamon Call Center at 1-500-090. 

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