Mandiri change not for the better

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