According to Bank Mandiri Treasury & International Banking Director Panji Irawan, the bank has strengthened the banknotes interbank exchange services in the regions by taking advantage of the bank’s pooling cash unit, which currently has a presence in 25 cities, including Medan, Palembang, Lampung, Bandung, Semarang, Yogyakarta, Denpasar, Surabaya, Jakarta, Banjarmasin, Pontianak, Balikpapan, Samarinda, Makassar, Manado and Mataram.

“Pooling cash units operating in the regions will make things increasingly easier, and the banks in different regions will be closer to each other, with a secure banknote supply and guaranteed originality, which will help trim down the banknote delivery expenses. The role is aligned with Bank Mandiri’s aspiration to become the [country’s] primary financial partner by customer choice with simple and reliable banking services,” Panji said.

He added that Banknotes Interbank Center Agent (BICA) had managed to increase the banknote interbank exchange transactions at Bank Mandiri by 27 percent to US$168 million in 2020, compared to US$45 million recorded in the previous year.

Aside from the greater access, he continued, the increase in Bank Mandiri BICA transactions last year was also supported by the bank’s ability to meet various needs for foreign banknotes. Currently Bank Mandiri BICA serves the purchase and sale of 13 major foreign banknotes.

The banknotes comprise the Australia Dollar, (AUD), Canada Dollar (CAD), Swiss Franc (CFH), Euro (EUR), British Pound sterling (GBP), Hong Kong Dollar (HKD), Japanese Yen (JPY), Malaysian Ringgit (MYR), New Zealand Dollar (NZD), Chinese Yuan (CNY), Saudi Arabia Riyal (SAR), Singapore Dollar (SGD) and US Dollar (USD).

“Another advantage that Bank Mandiri offers in regards to foreign banknote exchange services is that the bank owns an export-import license, which supports the service.

The license ownership allows BICA to own another supply of foreign banknotes beyond the outcome of the transactions made by the domestic markets, namely from regional financial markets, such as Singapore and Hong Kong,” Panji said.

According to Panji, it is essential to have such a license, especially when the need for foreign currency is high, for example, to meet needs from the retail and tourism sector.

For further information on Banknotes Interbank Center, agents can contact Bank Mandiri’s Treasury Banknotes team through treasury.banknote@bankmandiri.co.id or phone 021-30405029/61 or 021-30400253.

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