Good work! I hope Jon chooses wiring. That seems like the best option to me.
I have to say, our bank is giving different versions every time we speak to
them. When I talked with Michelle on Friday afternoon, she said we could still
deposit that check, but to do so, we would have to get back to her that
afternoon. So after I talked with you, Rory, and you had spoken with the bank,
with the result that the deposit was stopped, I assumed, based on Michelle
having told me it was our decision, that you had stopped the deposit.
I’m beginning to wonder if we ought to consider switching banks, since they
don’t seem to have a very good handle on their own rules and regulations.
Keeping my fingers crossed Jon goes for the wire transfer!
Thanks Rory!
Linda
On Jan 26, 2016, at 2:48 PM, roryphoenix@xxxxxxxxxxxxxxxxxxx wrote:
Hi,
Kaylie Deering, the branch manager at Norway now explains that we have 3
options. Basically these are a new check, or wire the money (they'll waive
their fee), or physically send the existing check to Coastal States.
The details:
1. We take back the check and deposit a new one once we receive it, or
2. We take back the check and Coastal States WIRES the funds. Any charges
normally charged by the receiving bank (Norway) will be waived by Norway, or
3. Norway presents the physical check to Coastal States for collection. They
will do this even though they have stamped the check 'refer to maker." This
will take a minimum of ten business days for us to receive the funds,
assuming Coastal States approves.
By the way, Kaylie now explains that because of the way checks are normally
handled electronically, not physically, IF this were fraudulent AND Coastal
States did not catch it and paid it, it would be Norway's liability, not
Coastal States, according to Kaylie.
My vote, obviously is to have the funds wired, assuming there would be no
fees we'd have to pay Coastal States.
Jon, can you please advise?
Thanks.
Rory
