Bank Bali charges

Bank Bali charges

Messrs. Smith, Taufiq, Menon and Tung, I empathize. But if it
makes you feel any better, BCA is not the only bank to levy
dubious and inexplicable charges on its U.S. dollar accounts.

Several colleagues and I opened Bank Bali dollar accounts at
the Setiabudi Building branch in August in the wake of the
currency crisis. Before opening the account, we asked exhaustive
questions as to all applicable levies, and were told in no
uncertain terms that no other charges apart from a US$1
administration fee would be applied monthly.

Upon subsequent receipt of our salaries, however, we found
that the credited amounts were $10 short as compared to our
salary statements. After a more exhaustive (and exhausting)
questioning of the account officer, Bank Bali finally conceded
that they applied a $10 charge simply for the "task" of receiving
the money in our accounts.

On a separate inquiry, however, my colleague was told a
different story -- that the fee is charged by a correspondent
bank and not levied by Bank Bali. However, Bank Bali officers
have not been able to provide any proof to date that this charge
is indeed levied by the mysterious correspondent bank (we found
out that our agent pays direct to Bank Bali, and that it already
charges our employer $27 per employee for each transfer of funds
in U.S. dollars). Of course, Bank Bali also gains by charging its
customers a fee of over five percent on any U.S. dollar cash
withdrawals (this must be a simplified version of the forced-to-
buy-rupiah-to-buy-back-U.S. dollars ruse).

Conveniently (for the bank), there are no written terms and
conditions that the customer may rely on. We merely sign a
statement stating that we will comply with the terms and
conditions as determined by the bank (whatever these may be and
which are subject to change without prior notice) upon opening
the account. What recourse then do bank customers have when
levies are imposed contrary to (unenforceable) verbal assurances
given by the bank's representatives?

It seems our fate then, as U.S. dollar account holders in
Indonesia, to be at the bank's mercy when it comes to dubious
charges, inconsistent policies, clueless bank employees and being
ripped off. To add insult to injury, Bank Bali charges $5 to
close your Bank Bali dollar account.

MY ONG

Jakarta