nasabah

Nasabah is the term used in Indonesian banking to refer to a customer or client of a bank or other financial institution. The word covers individuals as well as corporate entities that hold accounts, deposit funds, borrow, or use payment and other financial services offered by banks.

The relationship between a bank and a nasabah is defined by contractual agreements and by applicable laws and regulations issued by Bank Indonesia and the Financial Services Authority (OJK). Nasabah can hold various products, including savings accounts, current accounts, time deposits, loans, credit cards, and digital payment services. They may conduct transactions such as deposits, withdrawals, transfers, and payments, both in person and through electronic channels.

Nasabah rights include fair treatment, clear information about products and fees, privacy protection, and access to complaint and redress mechanisms. Banks are expected to provide transparent disclosures, manage conflicts of interest, and safeguard personal data. In Indonesia, the protection of nasabah is supported by banking regulations and, for deposit accounts, by the Deposit Insurance program administered by Lembaga Penjamin Simpanan (LPS) within its applicable limits.

Nasabah responsibilities include providing accurate information for know-your-customer (KYC) processes, maintaining account security, monitoring statements, and complying with terms of service and repayment schedules. They should promptly report suspicious activity or lost access and may be required to participate in ongoing verification checks.