What Are the Fees for IDR-USD Currency Conversion on Pluang?

Pluang charges a currency conversion fee of 0.25% of the conversion value on every IDR-to-USD and USD-to-IDR conversion, plus 11% VAT calculated on that fee — not on the full amount you convert. The fee has applied since 15 May 2025 and is identical in both directions, so converting rupiah into dollars to fund a US Stock purchase costs the same rate as converting leftover dollars back into rupiah. In practice, converting $1,000 costs a $2.50 base fee plus $0.275 in VAT, for a total of roughly $2.775. The minimum conversion amount is $0.01 for USD-to-IDR conversions. This conversion fee is separate from the exchange rate itself: the rate Pluang applies comes from its reference custodian bank and carries its own market-driven spread, which is calculated independently of the 0.25% fee and never forms part of it.

• Fee rate: 0.25% of the conversion value, charged on every IDR→USD and USD→IDR conversion.
• VAT: 11% calculated on the 0.25% fee only — not on the full amount converted.
• Worked example: Converting $1,000 costs a $2.50 base fee, plus $0.275 VAT (11% of $2.50), for a total fee of $2.775.
• Effective date: The 0.25% fee has applied since 15 May 2025.
• Both directions: The fee structure and calculation method are identical whichever way you convert.
• Minimum conversion: $0.01 (USD-to-IDR direction).
• Not the same as the spread: The exchange rate spread is set separately by Pluang's reference custodian bank and is not part of this fee.

Related questions:

Q: Is the 11% VAT charged on the full amount I convert, or just on the fee?
Only on the fee, never on the total amount you are converting. For a $1,000 conversion, the base fee is 0.25% of $1,000, or $2.50, and 11% VAT applies specifically to that $2.50 — adding $0.275 — for a combined cost of about $2.775 on the whole transaction. That works out to roughly 0.2775% of the converted value in total, so the VAT component stays small no matter how large the conversion you make.

Q: Does the fee differ depending on whether I convert IDR to USD or USD to IDR?
No. The same 0.25% fee plus 11% VAT on that fee applies regardless of direction. Whether you are converting rupiah into dollars to fund a US Stock purchase, or converting leftover dollars back into rupiah before withdrawing, the fee structure and the calculation method stay identical. Only the exchange rate applied to the conversion, and the market spread carried within it, will differ between the two directions and between moments in time.

Q: Is there a minimum amount for currency conversion on Pluang?
Yes — Pluang sets a minimum conversion amount of $0.01 for USD-to-IDR conversions. There is no separately published minimum for converting IDR into USD. In practice the fixed 0.25% fee plus 11% VAT makes very small conversions inefficient in either direction, because the combined fee still applies in full and becomes a disproportionately large share of the amount actually converted, so most users convert in larger increments.

Q: Is the conversion fee the same thing as the exchange rate spread?
No — they are two separate costs. The 0.25% fee plus 11% VAT is an explicit charge Pluang applies to the conversion. The spread is the difference built into the exchange rate itself, set by Pluang's reference custodian bank and varying with market volatility, trading volume, and the time of conversion. The spread is calculated independently and is never included in the 0.25% fee figure.