Dollars account

Dollars account

I have been a customer with the former Bank Exim, now part of
Bank Mandiri, for 15 years. I have always been pleased with the
Denpasar branch service, and have enjoyed ready access to the
dollars in my U.S. dollar account.

However, now that Bank Exim has merged with Bank Mandiri, the
new management policies have changed with seemingly little
concern of their effect on loyal clients. For example, I need
U.S. cash to pay bills, such as United Parcel Service (UPS)
charges and textiles that require payment in physical dollars.

However, starting this year, to take out U.S. dollars from my
Bank Mandiri account, I must first change the dollars into rupiah
at a very low bank rate, and then use that rupiah to buy
back the dollars at a very high rate! In effect, to get U.S.
dollars from my U.S. dollar account, I must pay a premium of at
least three percent.

This is outrageous, especially in this era of reform. It
is tantamount to legalized extortion. It stinks of the same
massive, monolithic, monopolistic indifference to both customers'
and the country's needs of the old New Order banks. I would like
to stay with my old bank; the staff are friendly and efficient.

However, this added cost of business is intolerable. Unless
this policy is changed, Bank Mandiri will shortly lose my small
but not insignificant dollar transactions.

RICHARD LEWIS

Denpasar, Bali