BRI, DBS Bank strike deal on remittance services<\/p>\n
Fadli, Singapore<\/p>\n
Bank Rakyat Indonesia (BRI) has signed a deal with Singapore's
\nDBS Bank to provide cheaper and faster remittance services for
\nIndonesian workers in Singapore.<\/p>\n
Under the deal signed on Thursday, Indonesian maids working in
\nthe city state can send money to their home villages through DBS,
\nwhich is linked with BRI, for a remittance fee of S$13 per
\ntransaction.<\/p>\n
BRI is the largest bank in terms of network in Indonesia, with
\nabout 4,000 offices across the country, many in rural areas.<\/p>\n
BRI president Rudjito said the new service was expected to
\nmake it easier for Indonesian maids in Singapore to send money
\nhome.<\/p>\n
Currently, many of the maids simply carry all of their money
\nin cash when they return to Indonesia, making them vulnerable to
\ncriminals and crooked officials at Cengkareng airport. Others
\nsend their money home via brokers who charge them between S$20
\nand S$25 per transaction.<\/p>\n
There are about 55,000 Indonesians working as maids in
\nSingapore, according to the Indonesian Embassy in Singapore.<\/p>\n
According to Rudjito, the maids' salaries range from between
\nS$230 and S$500 per month. If all of the maids sent home half of
\ntheir monthly salary, the total amount would reach S$6 million
\nper month.<\/p>\n
Rudjito said DBS would simply transfer the funds to BRI if
\nmaids sent funds to someone already with an account at the bank.
\nIf the recipient does not have a BRI account, bank officials will
\ndeliver the money to his or her home.<\/p>\n
DBS managing director and head for South and Southeast Asia,
\nRajan Raju, said DBS had also reached a similar deal with Bank
\nDanamon, which also has a wide network in Indonesia.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bri-dbs-bank-strike-deal-on-remittance-services-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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