View Full Version : Remittance - which is better?

26-01-2006, 11:43 PM
Recently my maid needed to urgently send some money home. We arranged to have it done via TT (wired thru bank) to Indonesia so as to have the money available in Indonesia within a week.... somehow the inter-banks screwed up badly and her family ( 22days as of today! ) have yet to receive the money!!

Now, can we claim the cost of the TT back (which is higher than the normal remittance!) from the bank since the money was re-send via "normal" banking remittance.

Now - the funny thing is, I also send some money to her family via the local money changer in Summit... and it took only 4 days and cheaper too!!!!! Now that really got me worked up cos these banks charge so much for their services and yet do not provide proper trace and disbursement.

By the way - anyone wanna guess/know which bank?

26-01-2006, 11:55 PM
Choice of bank may be important here. I suppose it will depend on whether their receiving partner bank has a branch office at the maid's hometown. If not, problem. For our maid, I don't recall problem with Maybank's T/T payment.

Another point to note is that different banks offer different exchange rates. Recalled an incident where we remitted through Southern Bank thinking that the exchange rate is about the same as Maybank. Turned out that the rates were significantly different - resulting in "loss" of about half month's salary as compared to Maybank.

27-01-2006, 12:14 AM
From the reply and clarification I got from the our bank... their counterpart is Bank Nasional Indonesia... therefore if the maid's family has an account with BNI over there... it is relatively easy. On the other hand - if the remittance has to be wired to a third bank... ( ie. Bank Rakyat Indonesia or BRI ), then things gets complicated. BNI won't check if the money got to right person or not, thru the 3rd bank.... or if the family is informed of the TT (telegram/wire)

And by the way, (for the rest of us here to know.... ) if the remittance goes thru yet another bank and its agents - there would be a hefty commision deducted for services over there.... up to 10% of the remittance would be paid as commission before the families see any money! So please advise your maid to inform family in Indonesia to have a BNI branch account if remitting via Maybank...

27-01-2006, 12:33 AM
Why not bank draft ?

27-01-2006, 07:12 AM
That intermediary you found at Summit is similar to the intermediaries found at the Selangor Mansion at Masjid India in KL (behind SCB) which caters for Indian, Nepalese and Bangladeshi workers here.
This service arose due to the many language problems in the past where these migrant workers can't fill up the TT forms which are in English and pay the exorbitant fees charged by the Banks.
Suggest going thru these intermediaries which, I have heard, are reliable and they have their own code of conduct.
Banks don't want the hassle unless you are willing to pay for all the charges.
All other forms of remittances are illogical for your maid. :)

27-01-2006, 08:00 AM
If you need the money to reach there fast, Western Union is best. Get's to the destination in less than 1 hour. If not, then Cash Laju by BCB is best. ;)

27-01-2006, 10:08 AM
Western Union was fast for you? It still took a few days to remit funds to my sister in Australia... No diference from a TT plus higher fees..

27-01-2006, 10:29 AM
Western Union was fast for you? It still took a few days to remit funds to my sister in Australia... No diference from a TT plus higher fees..

The last time I remit to Indonesia, it only took 10 minutes to get from Bangsar to Lombok. Which service did you use, BCB or the post office?