Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Panin Bank

Indonesia|2-5 years|
High potential risk|

https://www.panin.co.id/

Website

Rating Index

Influence

Influence

B

Influence index NO.1

Indonesia 8.34

Surpassed 97.62% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+6221-251 5555
https://www.panin.co.id/
http://facebook.com/paninbankfanpage/
https://twitter.com/paninbank

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+6221-251 5555

Other ways of contact

Broker Information

More

Company Name

Panin Bank

Abbreviation

Panin Bank

Platform registered country and region

Indonesia

Company website
Twitter
Facebook
Instagram
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-07-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Panin Bank · WikiFX Survey

Users who viewed Panin Bank also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

ATFX

8.50
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Exness

8.38
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4 Full License
Official website

FP Markets

8.88
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website
Sources
Language
Mkt. Analysis
Creatives

Panin Bank · Company Summary

Panin Bank Review Summary
Founded1971
Region/CountryIndonesia
RegulationNo regulation
ProductsIndividual client: deposit, credit card, loan, wealth products (mutual funds, bancassurance, bond)
Business client: deposit, commercial/corporate/micro credit loans
ServicesIndividual client: Electronic banking, international bank services, banking services
Business client: trade & finance, treasury, cash management
Trading PlatformMobilePanin
Customer SupportAddress, phone, fax, social media, FAQ, live chat, social media

Panin Bank Information

Established in 1971, PaninBank became Indonesia's first publicly-traded bank upon listing on the Jakarta Stock Exchange in 1982. It is currently majority-owned by PT Panin Financial Tbk (46.04%) and Votraint No. 1103 Pty Ltd (38.82%), with the remainder held by domestic and international public shareholders (15.14%).

PaninBank, classified as a BUKU IV bank since 2019, offers a comprehensive range of financial products and services. For individual clients, these include deposits, credit cards, loans, and wealth products such as mutual funds and bancassurance. Business clients benefit from deposit services, commercial, corporate, and microcredit loans, as well as trade finance, treasury, and cash management solutions.

Despite its extensive offerings and long-standing presence, investors should be aware of the lack of regulatory oversight over PaninBank's operations.

Panin Bank's homepage

Pros & Cons

ProsCons
Wide Range of Products and ServicesLack of Regulatory Oversight
Established Presence
Convenience

Pros:

  • Wide Range of Products and Services: Panin Bank offers credit cards, loans, wealth management products (mutual funds, bancassurance, bonds), international banking services, electronic banking, and more.
  • Established Presence: Founded in 1971, Panin Bank boasts a long history in Indonesia, indicating experience and stability.
  • Convenience: Customers can manage accounts through branches and mobile banking, offering great convenience in daily investment process.

Cons:

  • Lack of Regulatory Oversight: The bank is not subject to any regulatory supervision, which poses a great risk for customers, as their funds might not be protected.

Is Panin Bank Legit?

When considering the safety of a financial company like Panin Bank or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a financial company:

  • Regulatory sight: The broker's current operation without legitimate regulatory oversight only fuels concerns about its legitimacy and trustworthiness. These worries are compounded by the broker's inaccessible website.
No license
  • User feedback: To get a deeper understanding of the exchange, it is suggested that traders explore reviews and feedbacks from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
  • Security measures: PaninBank prioritizes robust security measures to safeguard customer data and transactions. Their privacy policy includes encryption protocols for online banking, secure server infrastructure, regular audits, and staff training on data protection. These measures protect customer privacy and financial information effectively.

In the end, choosing whether or not to engage in trading with Panin Bank is an individual decision. We advise you carefully balance the risks and returns before committing to any actual trading activities.

Products & Services

Panin Bank offers a well-rounded suite of financial products and services for both individual and corporate clients.

  • Individual clients

Individual clients can choose from a variety of deposit accounts to suit their saving goals. Panin Bank also offers credit cards for everyday purchases, loans for financing personal endeavors like auto purchases or property investment, and wealth management products like mutual funds, bancassurance, and bonds to help grow their wealth.

For added convenience, Panin Bank provides robust electronic banking options such as ATM, e-cash, mobile and internet banking, etc.

International banking services including bank drafts, remittance, and a network of corresponding banks.

Regular banking services encompass foreign currency exchange and safe deposit boxes for valuables.

  • Business clients

Beyond traditional deposit services for managing finances, Panin Bank offers a robust suite of financial solutions for businesses. They provide various loan options (commercial, corporate, micro) to fuel growth.

Trade finance services facilitate secure international transactions, while treasury services help manage financial risks.

Beyond traditional banking, Panin Bank empowers businesses with cash management services that streamline operations through automated payments, account reconciliation, and centralized control of company funds.

Products & Services

Interest Rates

Panin Bank offers a variety of interest rates for different deposits, loans or other products.

For instance, Rupiah deposits typically offer higher interest rates than USD deposits, with higher minimum balances generally corresponding to higher interest rates.

PeriodMinimum BalanceMaximum Interest Rate (%)
Rupiah Deposit
Up to 7 Days≤ IDR 2 Billion2.75
Up to 7 Days> IDR 2 Billion3.25
14 Days≤ IDR 2 Billion3
14 Days> IDR 2 Billion3.5
1-12 Month≤ IDR 2 Billion3.75
1-12 Month> IDR 2 Billion4
USD Deposit
1 Month< IDR 1 Million0.1
1 Month≥ IDR 1 Million0.2
3-12 Months< IDR 1 Million0.1
3-12 Months≥ IDR 1 Million0.25
Interest rates

It's noteworthy that these rates are subject to change, to ensure you have the latest information on Panin Bank's interest rates for deposits (IDR, USD, AUD, EUR, GBP, NZD, SGD), loans or other products, contact them directly for clarification or visit their website at https://www.panin.co.id/en/suku-bunga.

Fees

Panin Bank charges various fees associated with its products and services.

Service (Panin Savings Account)Fee
Opening a Panin Savings Account (Initial Deposit)IDR 250,000
Minimum Balance RequirementIDR 250,000
Monthly Admin FeeINR 16,800
Below Minimum Balance FeeIDR 10,000
Account Closing FeeIDR 50,000
Dormant Account FeeIDR 50,000
PaninBank GPN Debit Card ReplacementIDR 25,000
PaninBank Mastercard Debit Card ReplacementIDR 35,000
Replacing Lost/Damaged PassbookIDR 10,000

For example, to open a Panin Savings account, there's an initial deposit requirement of IDR 250,000, and a minimum balance of the same amount needs to be maintained to avoid a fee. The monthly administrative fee is IDR 16,800.

They also withhold IDR 50,000 if you close your accountor if it becomes dormant.

For debit card replacements, fees range from IDR 25,000 for a PaninBank GPN Debit Card to IDR 35,000 for a PaninBank Mastercard Debit Card.

There's even a charge of IDR 10,000 for replacing lost or damaged passbooks.

Rates and fees

It's of great importance to be aware of these fees before using Panin Bank's products and services. For a comprehensive list of their fees, you can visit their website (https://www.panin.co.id/id) or contact them directly.

Trading Platform

MobilePanin is Panin Bank's trading platform designed for individual clients. Available on both iOS and Android, MobilePanin offers a seamless and user-friendly experience, allowing clients to trade and manage their investments on the go. With security measures in place, users can confidently execute trades, monitor market movements, and access a wide range of financial products.

MobilePanin

Customer Service

Panin Bank prioritizes customer convenience with various methods for getting help.

You can visit a branch using their ATM locator on the Panin Bank website (https://www.panin.co.id/id).

Contact info

They also offer 24/7 phone support through their Call Center. For written communication, faxing remains an option.

Moreover, Panin Bank embraces online support with website FAQ sections for each product, live chat options for immediate answers, and social media presence through Instagram, Twitter, YouTube and Facebook for connection and assistance.

Main Office Address: Jl. Jendral Sudirman Kav. 1 - (Senayan), Jakarta 10270, Indonesia.

Telephone Number: (021) 257 5555(IDD, 10 lines); 1500678 (PSTN).

Fax: (021) 2700340.

Email: panin@panin.co.id.

Telex: (021) 473801, 473841, 47394 PIBHO IA.

Contact info
Contact info

Conclusion

PaninBank, with over 50 years of experience and listed on the Jakarta Stock Exchange, offers a wide range of financial products and services for both individual and business clients. However, investors should note the lack of regulatory oversight of the bank, which poses risks concerning transparency and accountability in the bank's operations.

Therefore, if you are considering using PaninBank, you should undertake full research to understand its full range of products, fees, and the level of fund protection offered, thus to be well-informed before making any decisions.

Q&A

  1. Is Panin Bank regulated?

No. The broker is currently under no valid regulation.

  1. Is Panin Bank a good broker for beginners?

No, the company is not regulated by any authorities, which means it lacks as much investor protection as regulated institution, raising doubts on clients' fund safety.

  1. Does Panin Bank offer international banking services?

Yes, Panin Bank provides international banking services for individuals with global financial needs. This includes services like bank drafts, remittance (sending and receiving international money transfers), and support from a network of corresponding banks.

  1. Does Panin Bank have physical branches?

Yes, Panin Bank has a network of branches across Indonesia. You can locate a branch near you by using the ATM locator on their website (https://www.panin.co.id/en/about-panin/location).

  1. What types of accounts does Panin Bank offer?

Deposit accounts (savings and checking), credit cards, loans (personal, commercial, micro-credit), and wealth management products (mutual funds, bancassurance, bonds).

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

Review 1

1 Comments
Write a comment
All(1) Latest Exposure(1)
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong China

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com