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Article #1870

Handling foreign payments.

#1870
From: David V. Henkel-Wallace
Date: Mon, 07 Sep 1992 06:10
29 lines
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   Date: 3 Sep 92 00:58:00
   From: scott@nic.gac.edu (Scott Hess)

   My problem is that my bank wants $35 to turn a check drawn on a
   German bank into dollars in my account.  This is _not_ including
   changing the money, if that's needed.  Since NeXT is such a world-wide
   machine, I'm most likely not alone in this problem.  But, I've
   never seen any postings about it.

We quote our prices in dollars ask that foreign payments be made by
wire xfer.  Since these come in via the federal reserve clearing
system, our bank doesn't charge for these.

We have a standard letter we fax to overseas customers, for them to
give to _their_ bank.  It lists our bank's name, address, telex #,
federal bank ID (it maybe called something else -- don't have the
letter in front of me) etc.

Doing it this way means it doesn't cost us any more.  It may cost the
sender something; I don't know and nobody has complained.  It's
certainly better than having different prices for foreign orders!

g

PS: by the way, $35 to turn a check written on a foreign account is
    pretty reasonable.  That is a very painful operation for a US
    bank.  Most banks will probably do the odd one for an individual's
    account, but they'll figure that a business will be getting lots
    of them and will therefore charge for it.
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Path: arc1-ca.pugleaf.net!sparky!uunet!sun-barr!ames!data.nas.nasa.gov!data!gumby
References: <SCOTT.92Sep3005800@nic.gac.edu>

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Path: arc1-ca.pugleaf.net!sparky!uunet!sun-barr!ames!data.nas.nasa.gov!data!gumby
From: gumby@Cygnus.COM (David V. Henkel-Wallace)
Subject: Handling foreign payments.
In-Reply-To: scott@nic.gac.edu's message of 3 Sep 92 00:58:00
References: <SCOTT.92Sep3005800@nic.gac.edu>
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Date: 7 Sep 92 06:10:00
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