Money transfer deduction

Money transfer deduction

From Republika

On Aug. 13, 2001, I transferred money totaling Rp 5 million
from NatWest Bank in the UK to my friend's account at the Jakarta
branch of Niaga Bank. As the transfer was made in rupiah, I then
paid completely the transfer charge of 20.40 pounds sterling in
the UK in order that the beneficiary could receive the money in
full.

However, the funds received in my friend's account were
actually only Rp 4,047,731. There was a strange deduction of
almost Rp 1 million. In terms of value, this amount may not be
much but, in percentage terms, it was nearly 20 percent of the
sum transferred. Niaga Bank had actually no right to make any
deduction from the transfer as there was no different exchange
rate for the money transfer and the sender had paid the transfer
fee in full.

In comparison, I have made money transfers several times from
NatWest Bank in the UK to BNI and BTN, both state-owned banks, as
well as to NISP bank, a private one, and none of them made any
deduction from the funds as the fee had been paid.

I call on the relevant authorities in Niaga Bank to clarify
the matter and to transfer the funds deducted back to my friend's
account. Should there be no explanation, I call on all readers to
be careful when making money transfers via a bank, in particular
Niaga Bank.

DERMAWAN WIBISONO

United Kingdom