On banknote

On banknote

I can sympathize with Mr. A. Hovers, Bank credibility, March
20), about being confused that his dollars were not accepted by
BRI.

It seems BRI is not alone with this strange dollar bill
mentality. I guess BRI staff did not tell him that according to
local banks, the dollar notes are not a currency but a
"commodity".

Well, I did not realize this until I tried to transfer
US$5,000 through BII Kemang when one $50 bill was rejected,
although it was very clean but had shown some folds.

Upon my question why a currency bill has to be 100 percent
clean and new, I was told that as per BII's rule, they are not
treated as a currency but just like a "commodity", say like a
painting, and BII explained that when they sell this "painting",
the new buyer also wishes to buy a branch new "painting",
therefore, the strict rules.

And I recall about six months ago, the BII branch in Tomang
also tried to refuse acceptance of a dollar bill as the teller
claimed the date on the bill was too old, although we had just
received this bill from AMEX. However, after we insisted the
manager call Bank Indonesia or any other "real" bank, they
accepted the note.

So, buyers of dollars, or for that matter any other currency,
beware -- buy special plastic hard covers to protect your
valuable "paintings" to ensure you are able to sell them again
one day.

I now begin to understand why when I sell my dollars or marks
or francs, I get different amounts of rupiah, it all depends on
the painting -- well if you hear anyone buying "old" paintings,
let me know, maybe I too can cash in on some of my "old
paintings" because so far, no one seems to be interested.

Furthermore, I hope that, in the future, BI assures that in
their restructuring of the banks, they also assure that all banks
employ only professionals and competent staff.

If we want to compete with foreign banks in the future, we
have to start with properly trained and competent bank employees.

D. CHAMPEL

Jakarta