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Case Study
How International Transfer from Jack Help PSI Surfboard Save Up to 80% on Transfer Costs
PSI Surfboard can access exchange rate information anytime and anywhere since using Jack. Jack's currency conversion calculator feature is also very helpful for users in deciding when it is the right time to make a transfer.
Outcomes Experienced by PSI Surfboard After Utilizing Jack
80%
Saved on overall transaction cost
70%
Saved company working time per month
Industry
Surfboard Manufacturing
Product Used
International Transfer
Favorite Features
Ease of transferring money overseas online
Automatic currency conversion calculator in Jack’s portal
Easy-to-understand UI/UX
"Jack significantly reduces the cost of international transfers by up to 80% compared to conventional banks. PSI Surfboard has also been able to save up to 70% of working time through a transfer process that takes less than 15 minutes."
Mirna An-nisa, PSI's Director
Background
PSI Surfboard is a manufacturing company engaged in the production and import-export of Surfboard. Founded in 2010, this company has experienced rapid growth and strongly influences the Australian and international surfboard manufacturing industry. PSI Surfboard also collaborates with international surfboard brands such as Flanagan, Vampirate, Free Flight, DWS, and many others. To produce high-quality Surfboard, PSI imports high-quality materials from Australia and USA.
PSI Surfboard as a global player in the surfboard market, overcame the challenges of complex currency conversions (IDR to USD to AUD) that were time-consuming and cost-intensive. Then one of the colleagues from PSI Surfboard introduced Jack’s feature that is capable of overcoming these challenges during international transfers.
After utilizing Jack's International Transfer feature, PSI Surfboards managed to save up to 80% with the flat transaction fee offered by Jack.
How Jack Helps PSI Surfboard
High International Transfer Fee to 80% Reduced Expense
Initially, through conventional banks, PSI had to convert currency from IDR to USD and from USD to AUD to transfer money to Australia. This conversion process could incur up to USD 150 in administrative fees per transaction. However, after utilizing Jack's International Transfer feature, PSI Surfboards managed to save up to 80% with the flat transaction fee offered by Jack.
From 2 Hours International Transfer Process to 15 Minutes
International transfers through conventional banks take quite a long time waiting for the exchange rate with different cut-off hours for each bank. PSI Surfboard used to take up to 2 hours at the bank just to do the currency conversion. However, since using Jack's International Transfer, international transfers can now be completed in less than 15 minutes. Thanks to streamlined currency conversion, validation, and transfers via Jack’s portal.
Limitation in Currency Monitoring to Flexible Access Anywhere and Anytime
Before using Jack, when making international transactions, PSI Surfboard team had to monitor the currency exchange rate. Monitoring the exchange rate is usually done on weekdays, so when transactions must be done on weekends, PSI Surfboard finds it difficult. However, PSI Surfboard can access exchange rate information anytime and anywhere since using Jack. Jack's currency conversion calculator feature is also very helpful for users in deciding when it is the right time to make a transfer.
