Archived posting to the Leica Users Group, 2002/08/01

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Subject: Re: [Leica] Selling to the US...
From: Mike Cahill <mcahill2@comcast.net>
Date: Thu, 01 Aug 2002 06:51:56 -0400

on 7/31/02 6:11 PM, Doug Lee at drlee9@earthlink.net wrote:

> Bummer. However, I would suspect the real reason is your bank is looking for
> an excuse to earn a little extra interest on your funds. Sounds like
> something an American bank would pull!
> 
> Regard,
> Doug
> 
> ----- Original Message -----
> From: "Tim Atherton" <timatherton@theedge.ca>
> To: <leica-users@mejac.palo-alto.ca.us>
> Sent: Wednesday, July 31, 2002 4:17 PM
> Subject: [Leica] Selling to the US...
> 
> 
>> I often buy and sell photo stuff on Ebay and came across an interesting
>> situation yesterday.
>> 
>> I had sold a lens and got payment in $US in the form of a Bank cashiers
>> cheque.
>> 
>> I have always accepted payment in this form or a Bank Money order and
>> have ahd no problem paying them into my Canadian bank (same with
>> regular cheques from clients like the NY Times etc).
>> 
>> At most, the bank put a 3-5 day hold on the cheque, though as a valued
>> customer this was usually waived.
>> 
>> Yesterday I found there is a 14 day hold on all such transactions -
>> reason given - the uncertain and untrustworthy standing of US financial
>> instituions as a result of Enron, Worldcom, Johnson & Johnson, now AOL-
>> Time Warner etc.
>> 
>> Wow - never thought this stuff would impact my Ebay sales....
>> 
>> Tim
>> 
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> 
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what an absolute pile of horsesh*t.  I guess my money would be safer in
Italy, Singapore or Malaysia?


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