Are there any transaction fees for currency conversion?

Starting May 15, 2025, Pluang will charge a transaction fee of 0.25% and 11% VAT on the conversion fee for every currency conversion from IDR to USD and vice versa.

The IDR-USD exchange rate in Pluang is determined by Pluang's reference custodian bank, which is supervised by Bank Indonesia and complies with OJK regulations. The exchange rate also follows market movements, therefore, there will be a spread that depends on several factors such as market volatility, volume, and conversion time.