Jakarta, November 1, 2024 – Alexandra Askandar, Vice President Director of Bank Mandiri, shares tips for parents who aim to meet their children’s needs—particularly Millennials and Gen Z studying abroad—by utilizing Livin’ by Mandiri’s foreign currency transfer feature as an effective solution. Having children living far from home is a source of pride but also comes with unique challenges, especially in ensuring their needs are met quickly and efficiently. Livin’ by Mandiri addresses this by offering a practical and comprehensive foreign currency transfer solution that is increasingly favored by users.
Alexandra Askandar, Vice President Director of Bank Mandiri, stated “As a parent, I deeply understand the importance of providing for our children’s needs as best as possible. We face many concerns, especially when they are studying abroad. To support their daily needs, fund transfers become essential—ideally easy, fast, and available at any time. With the newly upgraded foreign currency transfer feature on Livin’ by Mandiri, we are committed to enabling parents to support their children without worries about high costs or long processing times.”
Since its launch in Q1 2023, Livin’ by Mandiri’s foreign currency transfer feature has shown significant growth. As of the end of Q2 2024, the transaction volume for foreign currency sales increased by 196.5% year on year (YoY), reflecting a strong upward trend in usage. The daily average sales volume for foreign currency transfers in Q2 2024 reached IDR 8.3 billion, an 11% increase from the previous quarter’s daily average of IDR 7.5 billion. This growth demonstrates the high interest and trust of customers in using Livin’ by Mandiri as a primary solution for foreign currency transactions.
With the availability of foreign currency transfer services on Livin’ by Mandiri, users can now send funds in 17 currency options, including major currencies like USD, GBP, EUR, as well as Asian currencies such as KRW, MYR, JPY, SGD, CNY, HKD, PHP, and others. This flexibility provides convenience for parents to support their children’s needs across different countries in the relevant currency. Moreover, USD transfers can be made to any country worldwide with just a few clicks, offering significant ease for frequent USD transactions.
Alexandra also emphasized that beyond currency flexibility, the feature provides 24/7 access, enabling parents to transfer funds at any time without worrying about bank operating hours. With real-time services available in certain countries, funds are transferred faster and more efficiently, ensuring children’s needs are met promptly.
In addition to convenience and flexibility, the competitive rates offered by Livin’ by Mandiri make foreign transfers more cost-effective, helping parents manage transfer costs—especially those transferring large amounts regularly. These affordable rates help minimize additional fees, keeping family budgets intact while ensuring children’s needs are met without issue.
“We want to ensure that this foreign transfer service is not only practical but also provides peace of mind for parents. Our competitive rates enable them to manage costs more efficiently without compromising the financial support they provide for their children,” Alexandra Askandar added.
For parents who wish to learn more about this feature, Livin’ by Mandiri offers full details at bmri.id/tfvalas. As a digital solution, Livin’ by Mandiri continues to innovate to become a trusted banking platform capable of meeting various financial needs, anytime and anywhere.
