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

[Sharon Anderson]

Hi Jerry - what a timely example. I am for incorporation. Wish I had the 
expertise to facilitate, but I will support the effort in any way I can.

Sharon



----- Original Message ----
> From: "logmark at comcast.net" <logmark at comcast.net>
> To: sanders1439 at att.net
> Cc: ASP Business <businessmtg at asp-afg.org>
> Sent: Tue, July 6, 2010 2:36:48 PM
> Subject: [Businessmtg] Today's Example: without Payal...
> 
> 
> 
> 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 
> 
> - 
> 
> 
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> 
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