BIRD TALK

Dear Bird Talk,

Re: Mr. Gardner’s Experience with Bank of America

I was very surprised to read Mr. Gardner’s letter in the recent issue, since we banked with B of A in Florida and now in Rancho Mirage, California. We were also located in Lee County, when in Florida. I wonder what type of “instrument” he was depositing with them, a personal cheque from his Canadian bank perhaps?

I do know that U.S. banks, at least in Florida, do not recognize Bank Drafts as cash the way our banks here do. Unless you are a client they will hold back part of it until it “clears”. They will do the same with a Cashier’s Check or a Certified Check drawn on an out-of-state bank, even large multi state banks. Besides depositing drafts in our local branch, I’ve also done so at a branch near our daughter in Illinois (using the same inter-branch banking we use here with our banks) without any problems whatsoever and never a charge.

If it’s true that there are collection problems with Canadian banks then it needs to be addressed here but I find it hard to believe. Many millions of dollars move both ways over the border every day, in both directions. Maybe Governor Bush should receive a copy of Bank of America’s letter as I’m sure the state doesn’t need any more headaches than they get from Mother Nature.

Yours very truly,

Robert G. Austin

Response:
There are billions of dollars crossing the border every day and we have no idea why there is so much nonsense. We do know that cheques are held for 6 to 8 weeks on occasion and that certified cheques mean nothing. The thousands of regional banks in the United States are consolidating very quickly and, with size, they will initially become more competitive. Our best advice is still to sit down with a bank employee and get the answers you want to hear. If they are not helpful, try the bank next door.