We experienced this recently as well but all worked out in the end.
From: frforum-bounce@xxxxxxxxxxxxx [mailto:frforum-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Rachelbeth Canar
Sent: Sunday, January 22, 2017 10:27 PM
To: Fundraisers Forum
Subject: [Fundraisers Forum] new banking rules enforced?
Has anyone else had issues with receiving major bank transfers? I have heard
from a couple of orgs that to release amounts transferred from private or
institutional donors, their bank has started asking for several documents: a
letter from the donor explaining what part of the contract this amount relates
to (contract number and title, instalment, what dates it covers) and a
recommendation letter from the sending bank (which is letter that commends the
donor for being a trustworthy client since xxx.) They have also asked for a
list of all the orgs other donors, and in some cases for the actual donor
contract. This has happened with amounts about 40,000 dollars for now. The bank
has said that it is simply implementing anti-terror and anti-money laundering
measures from the Bank of Israel.
Do they just have a very tough bank, or is anyone else having similar issues?
Thanks.
Rachel
