I had a situation once where a credit union held a check for a while.I had just moved to Colorado from Montreal. My student loan is with my credit union in Canada (aka CCU). In order to make the payment for that month, I mailed to my mom a cashier's check drawn against my US credit union account (USCU). My mom deposited the check in my CCU account and we both thought that it was the end of it.After the first of that month, I logged on to the CCU web site to see if everything was ok. It wasn't. The money was still on my checking account and the loan hadn't been paid.I called the CCU and explained what happened. It was their policy to hold any instruments written in US $ for a month. A whole month. I was furious. I had them release the funds, take care of the loan and reverse the fees that were charged.Since then I gladly pay the internation wire transfer fees charged by the USCU. At least I have the peace of mind of knowing that the CCU people don't have the chance to mess up the payments again.Now, if I could only convince the USCU to do ACH transferes so it doesn't cost me so much money...LICInternation Finances Man.
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