Mandiri change not for the better

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

However, now that Bank Exim has merged with Bank Mandiri, policies have changed under the new management with seemingly little concern for their effect on loyal clients. For example, I need the U.S. cash to pay bills, such as UPS charges and textiles, that require payment in actual dollars. However, starting this year, to get out U.S. dollars out of my Bank Mandiri account, I must first change the dollars into rupiah at the very low bank rate, and then use the 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 3 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 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