What the hell is going on with the banks ?

[halfpint]

I have been recieving checks from the US from an ad network for the last 3 years. I normally put them in the same bank and they clear within 3-5 working days no problem

A couple of days ago I pay the same check into the bank and expect it to be cleared within the same period as usual.

So I then find out out that the check is now gonna take up to a month to clear cause they are sending it back to the US to verify it. I tell them that this is from the same company that have been sending me checks for years and have always cleared but they wont have it.

So I say well why cant you phone the company or verify it electronically, to which they say "its not company policy to verify checks in that way"

Im like WTF iv been using the bank for around 5 years and always pay in the same checks and have never had problems with them before now all this bullshit

[john FVC]

What bank is it?

[halfpint]

Originally Posted by john FVC

What bank is it?

Barclays

Iv never ever had probs with them before but this is just plain stupid

[john FVC]

I had that issue once and up till that point, like you, there never had been a problem. It looked to me that once it got over a certain amount then that madness kicked in.

I ended up changing banks and have never had an issue since. Better to go with a worldwide bank like HSBC that are used to working with foreign transactions.

[ArsewithClass]

Originally Posted by halfpint

I have been recieving checks from the US from an ad network for the last 3 years. I normally put them in the same bank and they clear within 3-5 working days no problem

A couple of days ago I pay the same check into the bank and expect it to be cleared within the same period as usual.

So I then find out out that the check is now gonna take up to a month to clear cause they are sending it back to the US to verify it. I tell them that this is from the same company that have been sending me checks for years and have always cleared but they wont have it.

So I say well why cant you phone the company or verify it electronically, to which they say "its not company policy to verify checks in that way"

Im like WTF iv been using the bank for around 5 years and always pay in the same checks and have never had problems with them before now all this bullshit

Some banks also only exchange cheques from dollar to pounds if they are over a certain amount. $50 cheques are not enough with Natwest.

You never know, the cheque could clear quicker, thats just the maximum time they have given you

[k0nr4d]

Somethign wierd going on with mine too, wires are taking forever to arrive

[Klen]

That is why i avoid checks and wire payments and using epassporte.

[DateDoc]

Banks will do anything to get the money and use it before giving it to you. It is a legal scam they run. Any check from anywhere in the world can be verified and funds can be received almost immediately.

[halfpint]

Originally Posted by KlenTelaris

That is why i avoid checks and wire payments and using epassporte.

I would prefer epass but they do not have that service

[Sly]

Do you guys think it's a banking issue or a new regulation issue?

[Stephen]

Originally Posted by john FVC

Better to go with a worldwide bank like HSBC that are used to working with foreign transactions.

Barclays is a worldwide bank. I banked with them while living in the Caribbean and assure you that they are used to working with foreign transactions -- although they will at times come up with some little surprise hiccup like this, just all of a sudden.

[halfpint]

Originally Posted by Sly

Do you guys think it's a banking issue or a new regulation issue?

I have no idea but I have never had this much hassle with them before and they just seem to not be able to give you a straight forward answer to questions you ask

[Adraco]

The new European Payment Service Directive (PSD) which came into effect August 1st all accross the EU's 27 membership states plus Iceland, Norway and Liechtenstein. This is with thte aim of creating a standardized market for payments all accross Europe.

Some short facts:
* Aim to lower/earse the differences between national and international payments in Europe as a way of building one common and internal market for the whole continent.
* The intention of payments to be easy, safe and cost effective and to be carried out in said time. At first, 3 days is acceptable for inside EU payments, from 2013 it will be mandatory for inside EU payments to be completed within one day. i
* This is to be the legal foundation for SEPA (Single Euro Payments Area).
* Will be in effect from August 1st 2010.

A few member nations might be able to claim or get exemptions for a few months here and there, but basically it will be in effect all accross Europe from August 1st.

This has effects on Paypal payments carried out in Europe, checks and so on and so forth. Contact your bank if you need more information on how this will effect you and your onlien business.

And try to read the newspaper, this has been mentioned many times before.

[halfpint]

Originally Posted by Adraco

The new European Payment Service Directive (PSD) which came into effect August 1st all accross the EU's 27 membership states plus Iceland, Norway and Liechtenstein. This is with thte aim of creating a standardized market for payments all accross Europe.

Some short facts:
* Aim to lower/earse the differences between national and international payments in Europe as a way of building one common and internal market for the whole continent.
* The intention of payments to be easy, safe and cost effective and to be carried out in said time. At first, 3 days is acceptable for inside EU payments, from 2013 it will be mandatory for inside EU payments to be completed within one day. i
* This is to be the legal foundation for SEPA (Single Euro Payments Area).
* Will be in effect from August 1st 2010.

A few member nations might be able to claim or get exemptions for a few months here and there, but basically it will be in effect all accross Europe from August 1st.

This has effects on Paypal payments carried out in Europe, checks and so on and so forth. Contact your bank if you need more information on how this will effect you and your onlien business.

And try to read the newspaper, this has been mentioned many times before.

Umm ...Im trying to figure out what this has to do with paying a check from the United States into a bank account ....

[Adraco]

In short, the banks are today required to know more about who's paying whom and for what. Together with the "Know Your Customer" regulations this can/will cause for example checks to take longer to cash.

It's a new world, not necessarily better, just new and different.

[Rochard]

I track my fiances like I track women with herpes, and on Tuesday morning I discovered over $2k missing from my account. I quickly discovered that I sent a check to Bank Of America for my mortgage, but Bank Of America also decided to "send itself a check" from my account in the same amount.

It took two days to unfuck everything.

[bjlover]

Originally Posted by ArsewithClass

Some banks also only exchange cheques from dollar to pounds if they are over a certain amount. $50 cheques are not enough with Natwest.

You never know, the cheque could clear quicker, thats just the maximum time they have given you

some people here make more than 4 sales a month (what you admited was the most you ever made) and so they have bigger cheques than $50


Idiot

[Joshua G]

Originally Posted by DateDoc

Banks will do anything to get the money and use it before giving it to you. It is a legal scam they run. Any check from anywhere in the world can be verified and funds can be received almost immediately.

Yep just a creative way to make money with your money before giving you your money.

[ArsewithClass]

Originally Posted by bjlover

some people here make more than 4 sales a month (what you admited was the most you ever made) and so they have bigger cheques than $50


Idiot

Who is the idiot....??? Grisey told you this did he? If so, lets see who the liar or idiot is!


BTW, We run camshows from many websites at once. Making $50 per show per site... thats quite a bit, when you run 4 or 5 shows for an hour a week!

We do more than you could imagine a month! Building a £10000 pool last year from somewhere, didnt we!


Prick!

[Klen]

Originally Posted by halfpint

I would prefer epass but they do not have that service

And what service that would be?