CompuServe Messages

Steve, Overall..it may be a wash, but from several viewpoints, unless the figure is exactly on…it's "not right". Joefrom German orders something, writes out a check that is equivalent to $80 on the day he drops the order in the mail. By the time it's cleared, Joe'scheck is only worth $75. The company just lost $5 profit. Same thing…but now by the time it's cleared, Joe's check is now worth $85. Joe just paid $5 more than the advertised price and is entitled to refund and/or hasa complaint about being overcharged. That, plus the fact that most banks do charge a fee for foreign transactions. Mine was a set $2.50 processing fee. The only way for it to be "fair" is for the purchaser to send funds in $US drawn on a bank that's a member of the FRB. Don't forget, that no matter how long it takes for a check to clear….under current regulations banks must make deposited funds available to you within 7 days. If it takes 15 days for a check to "bounce" the bank has to eat some of the charges. Don