UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: LostInColorado One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309664  
Subject: Re: Don't Hold That Check!!! Date: 4/26/2003 3:13 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
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...

Internation Finances Man.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Fool One Central

Look at the Total Risk
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.