Legal Conundrum
I have had a wee bit of a legal conundrum in banking
I sold a couple of items on Facebook and the purchaser payed in Euros via an International Bankers Draft. No problem you might think ...
* I live in Edinburgh and went looking for a Bureau de Change at about 7.00 pm on Saturday night - located two but neither open in Princes Street, the principal shopping mall in Edinburgh our CAPITAL city of Scotland.
* On Sunday one was open but I was informed they do not process international bankers drafts in Euros!
* I attempted to pay the cheque into my automated cheque processing machine at the main Edinburgh branch of my UK wide bank. It only processes cheques in "£" sterling, not Euros and ate the cheque when I tried to cancel the transaction.
* This morning, Monday, I went to the bank to retrieve the cheque, they can process it but would have to send it to Head Office in ENGLAND! They suggested I try other places first.
* I tried the Post Office and American Express both claimed they could not process an international Bankers Draft.
* Back to my main bank branch in Edinburgh to send the cheque to ENGLAND and it will take between 2 weeks and 6-8 weeks to process an international bankers draft.
* An international bankers draft is only a money cheque - you don't say! It is completely different from a UK Banker's Draft which usually signifies cleared funds.
* Phew, luckily the reason I was looking for a bureau de change at 7.00 pm on a Saturday night was because I was away for the weekend, and the purchasers had wanted to pick up the goods on Friday, but I could not be available or arrange for someone to be there. Now we all have to be patient and pray that it ONLY TAKES TWO WEEKS.
* This international transaction came about because of Facebook which tends to make globalisation smaller not complicated. What it has shown up is that the CAPITAL city of Scotland, Edinburgh is not fit for purpose in international money matters.
But what to do about it : is the issue that Scotland needs to look at the International layer of money management, or is the issue European - I hold an European Citizen passport and our banking machines are not capable of processing EUROS cheques. Or is the issue a UK Westminster issue and codification of all banking is needed to bring us up to international level for the 21st Century or is it devolved and do we need a Consultation Paper somewhere in one of these line management areas for social policy reasons.
To put it bluntly, I am gobsmacked by this legal conundrum - I don't think it can just be me or my bank, or the purchaser's method of payment in the 21st Century. Thankfully nobody said "change bank"!
Patience, patience, patience ... I know I'll write to my MEP, MP and MSP ...
I sold a couple of items on Facebook and the purchaser payed in Euros via an International Bankers Draft. No problem you might think ...
* I live in Edinburgh and went looking for a Bureau de Change at about 7.00 pm on Saturday night - located two but neither open in Princes Street, the principal shopping mall in Edinburgh our CAPITAL city of Scotland.
* On Sunday one was open but I was informed they do not process international bankers drafts in Euros!
* I attempted to pay the cheque into my automated cheque processing machine at the main Edinburgh branch of my UK wide bank. It only processes cheques in "£" sterling, not Euros and ate the cheque when I tried to cancel the transaction.
* This morning, Monday, I went to the bank to retrieve the cheque, they can process it but would have to send it to Head Office in ENGLAND! They suggested I try other places first.
* I tried the Post Office and American Express both claimed they could not process an international Bankers Draft.
* Back to my main bank branch in Edinburgh to send the cheque to ENGLAND and it will take between 2 weeks and 6-8 weeks to process an international bankers draft.
* An international bankers draft is only a money cheque - you don't say! It is completely different from a UK Banker's Draft which usually signifies cleared funds.
* Phew, luckily the reason I was looking for a bureau de change at 7.00 pm on a Saturday night was because I was away for the weekend, and the purchasers had wanted to pick up the goods on Friday, but I could not be available or arrange for someone to be there. Now we all have to be patient and pray that it ONLY TAKES TWO WEEKS.
* This international transaction came about because of Facebook which tends to make globalisation smaller not complicated. What it has shown up is that the CAPITAL city of Scotland, Edinburgh is not fit for purpose in international money matters.
But what to do about it : is the issue that Scotland needs to look at the International layer of money management, or is the issue European - I hold an European Citizen passport and our banking machines are not capable of processing EUROS cheques. Or is the issue a UK Westminster issue and codification of all banking is needed to bring us up to international level for the 21st Century or is it devolved and do we need a Consultation Paper somewhere in one of these line management areas for social policy reasons.
To put it bluntly, I am gobsmacked by this legal conundrum - I don't think it can just be me or my bank, or the purchaser's method of payment in the 21st Century. Thankfully nobody said "change bank"!
Patience, patience, patience ... I know I'll write to my MEP, MP and MSP ...
posted by Lesley McDade at 1:44 pm
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