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39033Re: Bank realtionships

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  • barrystevens2001
    Jan 1, 2006
      --- In CostaRicaLiving@yahoogroups.com, "Elk, Cliff Red"
      <cliff.red.elk@l...> wrote:
      > CR bank that has a working relationship with an
      > American bank,

      BTW, here's an experience we had with Banco de Costa Rica, presented
      if it's useful to anyone out there in CRL land.

      We had a donor write us a large check, drawn on a US Bank. Deposited
      Nov 22, it was scheduled to produce available funds on January 3.

      I kept a copy of the front and back of the check.

      After 5 days, which should be approximately the time needed to get
      the check back to its issuing bank, I called the operations
      department of the issuing bank and asked if the check had cleared.
      They said "yes". I asked for the name and phone number of the guy
      who said "yes".

      I then called the International Banking department of Banco de Costa
      Rica and explained the situation to an International Operations guy.
      He asked if I "had a copy of the check, and if so could I fax it to
      him?" I got the number and faxed it. He didn't need the number of
      the guy at the issuing bank. He asked me to call him in an hour. I
      did. He said he had already released the funds into my account.

      So a 30 "habiles" (business day) hold dropped to five days with a
      couple of phone calls.

      Barry Stevens
      Co-Founder, El Puente - The Bridge
      The Bridge provides educational assistance, food assistance, and
      microloans mainly to indigenous people in the southeastern part of
      Costa Rica. Our goal is to help people help themselves to self-
      See us at http://www.elpuente-thebridge.org
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