Cariboo
02-14-2012, 06:23 AM
Here is the story of how I found this out.
TNsailorman does not have a PayPal account so I was looking into a certified check or bank MO because; I tried postal US money orders this past fall and cannot afford the fees unless the items are really good deals and over $200.00. It may prove that a certified check is also very expensive and this will be the first & last (a special trip to town would make it very expensive. I do go in every week or two.) [Turns out 7% less at the bank unless I make a special trip then 21% more]
Now TNsailorman talked to his Credit Union and they will deposit the check and put a hold on the funds until the check clears my bank. There is no charge for this service at the Credit Union. Then TNsailorman writes “Just forget the certified check and send me a personal check. I think that may be the cheapest route for both of us, I'll check with my Credit Union tomorrow and make sure. If I don't send you another message to the contrary tomorrow, just send the personal check.”
I have had an account in US$ from when the Canadian $ was worth $0.10 more than the US$. I had sent $10.00 Can. cash to my niece; she took it to the bank & received $5.00 US. So I opened an US account, I sent the occasional check south deposited checks from the US (did not have to pay bank fee to convert to CAN$ then pay another bank fee to convert to US$). It has been several years since I had last sent a check from this US$ account, so I went to the bank and got a check for my US account to send TNsailorman, everything is looking good.
Then I get a PM from TNsailorman “I just got off the telephone with my Credit Union (bank) who had called me. They had just received an email from the Royal Bank of Canada that the check that you had written me was being returned by mail because you did not have banking privileges with them. They will not honor the check because of this. My bank says they will be deducting $ from my account. They also asked me to convey to you that it was not they (my Credit Union) who were causing the problem but the Bank of Canada that has refused to honor the check. They also wanted me to know that they had sent many checks to The Bank of Canada and that they had always been honored and they did not completely understand the problem and any attempt on their part to explain other than what the note said would only be speculation on their part. They also told me they were very sorry for this and wanted me to convey the same thoughts to you if and when I contacted you.
It has been an interesting day, evidently as I understand today’s conversations I can write a check from my US$ account and it will be honoured anywhere but the US. It seems that I must have a special magnetic strip on my check and the main US office of my bank is the only place that is allowed to issue checks with this strip. My local bank was all full of apologies. Now would you like to have the money wired to your bank or a bank MO? [No you did not want to be a fly on the wall at the bank that day]
TNsailorman Well I spent a day of trying to find a solution with my Credit Union (Bank). I talked with 3 different people and 2 could not give me an answer and I finally ended up talking to The International Business Account Supervisor. She advised that in no way should I send any banking information over the phone or in an email or even in the regular mail. She advised that this information was intercepted on occasion and was not even completely secure on the larger corporation accounts which had expensive security measures. What she told me was that a MO from a bank would be no problem "if" that bank had a physical United States business street address and the MO originated from that US business address and written with US dollars payable. But if the MO had to be sent back to The Royal Bank of Canada in Canada, it would cost me another $2.50(I have already had to pay $2.50 on the first check) and that the results would most likely be the same and I would just lose another $2.50. She said that my Credit Union used a 3rd party international bank that specialized in these foreign transfers and they were the ones who were charging the $2.50 for their services. If you can send the MO from a bank in the US, that would probably solve the problem. Otherwise I don't see much of a way out of this without you being able to find the money in US dollars and mailing that; which has its own risks. What are your thoughts?
I just got off the phone with my bank. They will be sending you a bank MO for $ in today’s outgoing mail.
I hope that it arrives quickly, please let me know when you get it.
I think one of us should start a thread on CB with the pointing out the misinformation and road blocks we have encountered, it may help others.
Again sorry about the hassles.
TNsailorman “the check came today in the mail and I took it to my Credit Union, they ran a quick electronic check on it and it was accepted as a good check. I know you are happpy to get this out of the way and I am sorry that it caused you so much trouble.”
Apparently these changes took place about 2 years ago, so much for free trade.
The long & the short it, for me I have to consider a purchase to be really good to get a US postal MO, a bank draft/MO the same, PayPal is at this time the best payment method despite their political views, for me.
TNsailorman your one of the best, I enjoyed talking with you; we have both learned a lot about what we did not think we needed to learn. Thanks and have a great year.
Hope this info is of some help to others, the gathering of it certainly got in the way casting.
TNsailorman does not have a PayPal account so I was looking into a certified check or bank MO because; I tried postal US money orders this past fall and cannot afford the fees unless the items are really good deals and over $200.00. It may prove that a certified check is also very expensive and this will be the first & last (a special trip to town would make it very expensive. I do go in every week or two.) [Turns out 7% less at the bank unless I make a special trip then 21% more]
Now TNsailorman talked to his Credit Union and they will deposit the check and put a hold on the funds until the check clears my bank. There is no charge for this service at the Credit Union. Then TNsailorman writes “Just forget the certified check and send me a personal check. I think that may be the cheapest route for both of us, I'll check with my Credit Union tomorrow and make sure. If I don't send you another message to the contrary tomorrow, just send the personal check.”
I have had an account in US$ from when the Canadian $ was worth $0.10 more than the US$. I had sent $10.00 Can. cash to my niece; she took it to the bank & received $5.00 US. So I opened an US account, I sent the occasional check south deposited checks from the US (did not have to pay bank fee to convert to CAN$ then pay another bank fee to convert to US$). It has been several years since I had last sent a check from this US$ account, so I went to the bank and got a check for my US account to send TNsailorman, everything is looking good.
Then I get a PM from TNsailorman “I just got off the telephone with my Credit Union (bank) who had called me. They had just received an email from the Royal Bank of Canada that the check that you had written me was being returned by mail because you did not have banking privileges with them. They will not honor the check because of this. My bank says they will be deducting $ from my account. They also asked me to convey to you that it was not they (my Credit Union) who were causing the problem but the Bank of Canada that has refused to honor the check. They also wanted me to know that they had sent many checks to The Bank of Canada and that they had always been honored and they did not completely understand the problem and any attempt on their part to explain other than what the note said would only be speculation on their part. They also told me they were very sorry for this and wanted me to convey the same thoughts to you if and when I contacted you.
It has been an interesting day, evidently as I understand today’s conversations I can write a check from my US$ account and it will be honoured anywhere but the US. It seems that I must have a special magnetic strip on my check and the main US office of my bank is the only place that is allowed to issue checks with this strip. My local bank was all full of apologies. Now would you like to have the money wired to your bank or a bank MO? [No you did not want to be a fly on the wall at the bank that day]
TNsailorman Well I spent a day of trying to find a solution with my Credit Union (Bank). I talked with 3 different people and 2 could not give me an answer and I finally ended up talking to The International Business Account Supervisor. She advised that in no way should I send any banking information over the phone or in an email or even in the regular mail. She advised that this information was intercepted on occasion and was not even completely secure on the larger corporation accounts which had expensive security measures. What she told me was that a MO from a bank would be no problem "if" that bank had a physical United States business street address and the MO originated from that US business address and written with US dollars payable. But if the MO had to be sent back to The Royal Bank of Canada in Canada, it would cost me another $2.50(I have already had to pay $2.50 on the first check) and that the results would most likely be the same and I would just lose another $2.50. She said that my Credit Union used a 3rd party international bank that specialized in these foreign transfers and they were the ones who were charging the $2.50 for their services. If you can send the MO from a bank in the US, that would probably solve the problem. Otherwise I don't see much of a way out of this without you being able to find the money in US dollars and mailing that; which has its own risks. What are your thoughts?
I just got off the phone with my bank. They will be sending you a bank MO for $ in today’s outgoing mail.
I hope that it arrives quickly, please let me know when you get it.
I think one of us should start a thread on CB with the pointing out the misinformation and road blocks we have encountered, it may help others.
Again sorry about the hassles.
TNsailorman “the check came today in the mail and I took it to my Credit Union, they ran a quick electronic check on it and it was accepted as a good check. I know you are happpy to get this out of the way and I am sorry that it caused you so much trouble.”
Apparently these changes took place about 2 years ago, so much for free trade.
The long & the short it, for me I have to consider a purchase to be really good to get a US postal MO, a bank draft/MO the same, PayPal is at this time the best payment method despite their political views, for me.
TNsailorman your one of the best, I enjoyed talking with you; we have both learned a lot about what we did not think we needed to learn. Thanks and have a great year.
Hope this info is of some help to others, the gathering of it certainly got in the way casting.