What is the difference between OTC FX and Direct USD on Pluang?
OTC FX and USD Direct are both handled through Pluang's Priority Service Line (PSL), but differ in minimum size, contact method and bank rules. OTC FX requires a minimum request of $20,000 USD per transaction, is initiated by phone call with a live negotiated conversion rate locked for 30 minutes, and settles via a signed digital form. USD Direct has a lower minimum of $10,000 and is initiated via live chat or email (tanya@pluang.com) rather than a phone call. Its bank rules differ by direction: deposits arrive at Pluang's BCA or CIMB Niaga account and can be sent from any bank, while withdrawals can only go to a BCA or CIMB account. In short: OTC FX is for larger conversions with a negotiated rate, while USD Direct is for smaller (but still substantial) USD transfers that arrive at Pluang's BCA or CIMB Niaga account or pay out to your own BCA or CIMB account.
Side-by-side comparison:
| Attribute | OTC FX | USD Direct |
|---|---|---|
| Minimum amount | $20,000 USD per transaction | $10,000 USD |
| Contact method | Phone call to PSL | Live chat in-app or email (tanya@pluang.com) |
| Rate | Live negotiated rate, locked 30 minutes once agreed | Standard rate |
| Bank rules | No specific bank restriction confirmed | Deposits: sent to Pluang's BCA or CIMB Niaga account from any bank (other banks take 1–3 working days and charge their own transfer fee). Withdrawals: to a BCA or CIMB account only |
| Paperwork | Digital form signed and returned by email | Deposits: signed top-up form plus proof of transfer. Withdrawals: Priority Customer Fund Withdrawal Form plus a scanned bank book photo |
| Processing time | Within 1 business day after signed form received (confirmed for USD Sell/withdrawal side) | Deposits: credited within 1 business day of the funds arriving. Withdrawals: within 3 working days of successful phone verification |
When to use which:
- Use OTC FX if you're converting or moving $20,000 or more and want a live, negotiated exchange rate via a phone conversation.
- Use USD Direct if your transaction is smaller (from $10,000). For withdrawals, your destination account must be at BCA or CIMB. No live rate negotiation is involved, but the minimum bar to qualify is lower.
Related questions:
Q: Which is cheaper, OTC FX or USD Direct?
No fee comparison between the two has been confirmed. The key differences are minimum transaction size, contact method, and bank restrictions — not a documented fee difference.
Q: Can I use USD Direct if my bank isn't BCA or CIMB?
For deposits, yes: you can send USD from any bank to Pluang's BCA or CIMB Niaga account, though a transfer from another bank takes 1–3 working days and your bank charges its own transfer fee. For withdrawals, no: USD Direct only pays out to a BCA or CIMB account, so you'd need a BCA or CIMB account in your own name. OTC FX pays out in rupiah to your registered bank account instead.
Q: Do both OTC FX and Direct USD go through the Priority Service Line?
Yes. Both are PSL-handled services, but they're reached differently — OTC FX starts with a phone call, while USD Direct starts via live chat or email.
Q: If my transaction is below $10,000, can I still use OTC FX or USD Direct?
No. Both services have minimums — $20,000 for OTC FX and $10,000 for USD Direct. Transactions below these amounts should use Pluang's standard top-up or withdrawal methods.