[Businessmtg] Today's Example: without Payal...

[logmark at comcast.net]

Biz-Pals, 



I thought I'd relate to you today's treasury 

problem which demonstrates our need for PayPal . 

- - - - - 

A donor from Germany went to Credit Suiss bank 

with XXX Dutch Marks and bought a bank check 

in US Dollars for $100.00. In addition to the 

$100.00 worth of Deutch Marks the donor also 

had to pay Credit Suiss to write the check. 

(Not too much different from buying a bank 

check here.) 



I deposited it in our account. Our bank is a 

"20+/- branch" bank that has been bought by 

a multi-state bank. They process foreign 

currency checks through 5/3 Bank [Fifth Third 

Bank] a large multi-state bank generally in 

the Mid-West Region. 



5/3 Bank refused the (perfectly good) check 

because it is written for "$100.00" not 100 USD . 

The "stub" portion of the check says "US$100.00" 

and I've emailed scans of it, but expect we may 

still have it rejected - cross your fingers. 



5/3 Bank is claiming that their costs to take 

further steps to interact with Credit Suiss 

would exceed the value of the check. 



So: 

~ Our bank deposited the check as $100. 

~ The intermediate bank refuses the check 

   and returns it. 

~ $100 is debited our account (plus reject fee.) 

~ Our ASP member is out $100 + the check fee 

   unless I return the check and something can 

   be done at Credit Suiss to get her money or 

   a portion of it returned. 

~ Meanwhile this $100 is not available to her 

   or to ASP and it is costing everybody money 

   to go through this process whether it ever 

   gets solved or not. 



[Need I remind anyone that a $100.00 donation 

 is an unusually generous amount - one month's 

 expenses. Guess who I don't want to piss off!] 



Please, let's get PayPal back!!! 



Not a good day to be Treasurer :-) 



Hugs, 

Jerry 

-