-----Original Message-----
From: William Clark
Sent: Wednesday, May 09, 2001 11:06 AM
To: 'coneill@xxxxxxxxxxx'
Subject: RE: [OM][OT] Forwarded- Ebay & Paypal.com- The Good and the Bad
I have never had anyone say this to me before. Why? The tellers, etc. do
not know what they are doing in most cases (hit or miss on cashing I guess).
When I send a U.S. money order to the U.S., my bank's forms say payable from
Bankers Trust (Delaware); a U.S. bank!!!!!!! This is why the money orders I
send to the U.S. have never had any trouble. The other way, however, can be
a problem if the teller does not read the money order. A money order from a
large U.S. bank with ties to Canada (i.e. Citibank) will have the money
order payable from a Canadian bank because of their strategic alliances up
here; hence cashing should be no problem. A money order from a rinky dink
U.S. bank (did you know that the U.S. has over 8,200 banks while Canada has
just over 50 or so?) will cause problems because no one here has heard of
them and they can take up to 3 months to clear (believe it). If I am going
to receive a money order from such a bank, I ask the send to send me an
International Postal Money Order instead. Canadian banks here do not have a
problem cashing these MOs.
Cheers!!
-Bill
-----Original Message-----
From: Chris O'Neill [mailto:coneill@xxxxxxxxxxx]
Sent: Wednesday, May 09, 2001 10:58 AM
To: William Clark; olympus@xxxxxxxxxxxxxxx
Subject: RE: [OM][OT] Forwarded- Ebay & Paypal.com- The Good and the Bad
On 9 May 2001, at 10:44, William Clark wrote:
> stated on it). Until electronic payment systems have ALL the kinks worked
> out, I will stay with bank money orders. At present their ABSOLUTE
> cashability a security far out-weigh the extra wait time for the item.
At my bank (Royal Bank of Canada), I've been getting increasing
hassles over ANY negotiable instrument in US$ from out-of-country...
INCLUDING international money orders both from the USPS and banks.
RBC is starting to say they're all the same and, therefore, they want to
put a hold on the funds in my account for 21 days to cover the money
order in case it "bounces."
One teller even had the gall to tell me that RBC didn't wanna "lose
money" if it bounced! Yeah, right! Like THAT would happen! If it
bounced, RBC would MAKE money on all the service charges they'd
apply and, of course, they'd immediately seize the funds out of my
account and if there wasn't 'nuff in there to cover it they'd overdraft my
account and charge MORE interest and service charges!
Needless to say, I'm thinking of changing banks, but I've heard (or
experienced) just as many horror stories 'bout the other Canadian banks
so I'm a bit leary.
Regards,
Chris
P.S. Sorry for the rant, but the crap Canadian banks are starting to pull
is getting WAY stoopid!
---
I'm *not* a Zuikoholic.... I'm a Zuikohobbiest!
Chris O'Neill (coneill@xxxxxxxxxxx)
http://www.nucleus.com/~coneill
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