Operational Terms Faspay Cash Out

Cash Out Service
Operational Terms

This Cash Out Service Operational Terms ("Operational Terms") regulates specific terms and conditions related to operations in the use of Faspay Cash Out services for cash disbursement ("Cash Out Service") through retail outlets and/or networks that have cooperated with Media ("Cash Out Partner").

In this Operational Terms, the use of the word "Media" refers to PT Media Indonusa. Meanwhile, the use of the word “Partner” in this Operational Terms refers to any party that uses the Cash Out Service provided by Media and has a legal relationship with Media based on the Cooperation Agreement on Cash Out Service (“Agreement”) or the Faspay Services Usage Agreement (“Faspay Registration Form”).

Media and Partner are collectively referred to as the “Parties” and each is referred to as “Party”.

This Operational Terms is an integral and inseparable part of:

Agreement (in the event of cooperation between Partner and Media using an Agreement); or
Faspay Registration Form (in the event of cooperation between Partner and Media using the Faspay Registration Form).

By signing Agreement or Faspay Registration Form, Partner is deemed to have read, understood, comprehend, and agreed to the entire contents of this Operational Terms including any changes that may be made by Media from time to time, and Partner is considered to have agreed to appoint Media as Cash Out Service provider which is needed by Partner to carry out cash disbursement activities to its customers as the party mentioned in the Cash Out Service instruction to receive the funds (“Fund Recipient”).

A. Special Operational Terms of Cash Out Service

Partner agrees that the total nominal value that Partner or its customers can disburse per day is IDR 50,000,000.00 (fifty million Rupiah) (“Daily Nominal Total”). Changes to the Daily Nominal Total can be made by Partner submitting a prior written request to Media. Media may accept or reject the request for Changes to the Daily Nominal Total submitted by Partner or conduct periodic reviews of the Daily Total Nominal.

The execution of cash disbursement can be done in real-time by Fund Recipient every calendar day at 05.00 – 22.00 WIB (or following the operating time provisions of the Cash Out Partner retail outlets).

In the event that fund of Partner settled in Partner's account at Media, Partner can withdraw funds by first sending a fund withdrawal instruction to Media via the Faspay merchant dashboard ("Withdrawal Instruction") with a maximum withdrawal amount of IDR 50,000,000,- (fifty million Rupiah) for each Withdrawal Instruction. Furthermore, Media shall return the remaining funds in the Partner's account to Partner after receiving Withdrawal Instruction from Partner by means of Media transferring to the Partner's account with the details as stated in the Agreement or Faspay Registration Form.

Partner agrees that for a refund to Partner, Partner shall be charged a fee for each Withdrawal Instruction (“Withdrawal Fee”). The amount of the Withdrawal Fee per Withdrawal Instruction is IDR 5,000,- (five thousand Rupiah) for each withdrawal and does not include Value Added Tax (VAT).

Partner agrees to any changes to this Special Operational Terms of Cash Out Service that may be made by Media from time to time.

B. Operational Terms for Fund Withdrawal to Overseas Bank Account

In connection with Partner’s request for withdrawal of funds in the Partner’s account at Media to an overseas bank account, Partner may send to Media a fund withdrawal instruction (“Overseas Withdrawal Instruction“). This Operational Terms for Fund Withdrawal to Overseas Bank Account shall apply to any Partner who is an overseas entity that and does not have bank account in Indonesia and give an Overseas Withdrawal Instruction to conduct the fund withdrawal from the Partner’s account at Media to an overseas bank account using Faspay Cash Out Service.

Partner shall make the Overseas Withdrawal Instruction to Media via email to finance@faspay.co.id.

Partner is required to specify the details required by Media to execute the Overseas Withdrawal Instruction.

The minimum withdrawal amount for Partner that makes withdrawal to overseas bank account is IDR 500.000,- (five hundred thousand Rupiah), without a maximum amount of withdrawal.

The Overseas Withdrawal Instruction from Partner will be carried out by Media on the same working day (as determined by the government of the Republic of Indonesia) (“Working Days”) at 00.01 - 12.00 (GMT + 7). If the Overseas Withdrawal Instruction is above 12.00 (GMT + 7), it will be processed on the following Working Day.

If the Overseas Withdrawal Instruction is processed on the same Working Day, the currency exchange rate used shall the rate issued on that Working Day at 10.00 (GMT +7). Partner is also able to withdraw above 12.00 (GMT +7), however the exchange rates used will be at 10.00 (GMT + 7) the following Working Day. If the Overseas Withdrawal Instruction is conducted above 12.00 (GMT + 7), the currency exchange rate used shall be the rate issued at 10.00 (GMT + 7) on the following Working Day.

The duration of fund withdrawal by Partner is maximum of 5 (five) Working Days after being processed by Media, depending on the Media's financial partner and the Fund Recipient’s local bank.

Partner shall agree to the currency exchange rate used by Media according to Media’s remittance partner at 10.00 - 12.00 (GMT + 7) during Working Days, along with other costs charged to Partner for fund withdrawal.

Partner that conducts the Overseas Withdrawal Instruction shall be subject to a Withdrawal Fee of IDR 400.000,- (four hundred thousand Rupiah) for each Overseas Withdrawal Instruction that will be added from the total transaction (e.g., Transaction for IDR 1.000.000,- will require a IDR 1.400.000,- balance).

A fund withdrawal with an amount of IDR 400.000.000,- (four hundred million Rupiah) or above will not be subject to Withdrawal Fee.

Media reserves the rights to make changes to this Operational Terms for Fund Withdrawal to Overseas Bank Account if necessary, and Partner agrees to its changes from time to time. Any changes will be applicable 1 (one) calendar day after the notification for the update of this Operational Terms has been sent to Partner.

C. Operational Terms for Cash Out through Alfamart Outlets

In accordance with the policies of PT Sumber Alfaria Trijaya Tbk (Alfamart), the maximum nominal value that can be disbursed by customers of Partner per Cash Out Service instruction is IDR 5,000,000,- (five million Rupiah).

Partner is required to provide instructions to Media to perform Cash Out Service where the instructions shall contain mandatory data information, including:
1. Name of the customer of Partner as Fund Recipient
2. Disbursement amount
Provisions related to this mandatory data are subject to change at any time following the policies of PT Sumber Alfaria Trijaya Tbk (Alfamart).

D. Operational Terms for Cash Out through Indomaret Outlets

In accordance with the policies of PT Klik Indomaret Sukses (Indomaret), the maximum nominal value that can be disbursed by customers of Partner per Cash Out Service instruction is IDR 1,000,000,- (one million Rupiah).

Partner is required to provide instructions to Media to perform Cash Out Service where the instructions shall contain mandatory data information, including:

Token (a unique number obtained by customers of Partner from the web/mobile application or system managed by Partner to make account cash withdrawal service transactions through Indomaret outlets);
Disbursement amount

Provisions related to this mandatory data are subject to change at any time following the policies of PT Klik Indomaret Sukses (Indomaret).

E. Miscellaneous

This Operational Terms is an English version of Ketentuan Operasional Layanan Cash Out that can be accessed in the following link: https://faspay.co.id/id/ftnc-ops-cash-out/ ("Bahasa Indonesia Version"). In compliance with the Law of the Republic of Indonesia No. 24 of 2009 dated July 9, 2009 regarding Flag, Language, Coat of Arms and Anthem and its implementing regulations (the “Law No. 24“), the Parties agree that the Bahasa Indonesia Version of this Operational Terms shall be treated as an integral and inseparable part of the English version. In the event of any ambiguity, inconsistency or difference of interpretation between the Bahasa Indonesia Version and the English version, the Bahasa Indonesia Version shall prevail, and Merchant is encouraged to refer to the Bahasa Indonesia Version. Each Party further agrees that neither Party shall in any manner or forum, or in any jurisdiction, challenge the validity of, or raise or file any objection to, this Operational Terms contemplated herein on the basis of non-compliance with Law No. 24.