BANKING

horseman2012 · 2018-07-18T22:22:13+02:00

Hello: My question is a simple one regarding banking. I have 2 conti correnti..in 2 different banks in Italy. I have need of an official bank check (we call them Cashier's checks in the USA) denominated in USD. This is because I want to send a donation to a Library in the USA. Both banks have told me that " It is not possible" . That is ridiculous. Most banks around the world (Lonson, Paris, New York et.al ) have the capability to issue checks denominated in any currency. Can someone help with this ? Thank you!!!

horseman2012 Active member

96POSTS

7 years ago

Hello:

聽聽 My question is a simple one regarding banking.聽聽

聽聽 I have 2 conti correnti..in 2 different聽 banks in Italy.聽聽 I have need of an official聽 bank check聽 (we call them Cashier's checks in the USA)聽 denominated in USD.聽聽 This is because I want to send a donation to a Library in the USA.聽聽 Both banks have told me that聽 " It is not possible" .聽 That is ridiculous.聽 Most banks around the world (Lonson, Paris, New York et.al )聽聽have the capability to issue checks denominated in any currency.聽聽Can someone help with this ?聽聽

Thank you!!!

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SimCityAT Expert

13762POSTS

7 years ago

Wouldn't it be better if you could do a bank transfer? Get the bank details you wish to send the money to?

horseman2012 Active member

96POSTS

7 years ago

The charitable group at the Library to which I want to give the donation doesn't聽 have that capability...or else they don't want to expose their bank info...I don't know.聽聽It's a Library..they accept checks聽 or cash...period.聽聽That is not the issue.聽聽Why in Italy聽 can't a person get a simple Cashier's check denominated in whatever world currency ?聽聽聽We are a global economy...banks in every country聽 are able to聽 issue checks in any currency.聽 It's a normal procedure.聽 The bank in Italy was offensive..telling me that the USA should not require checks denominated in dollars.聽 Yet ANOTHER聽 example of the hatred I've experienced in聽 Italy against America.聽聽I've聽 have Cashier's checks issued in聽 foreign currency聽 by banks聽聽in London, Paris,聽 New York聽 etc..etc.聽 WHY are Italian banks so hopelessly聽 backwards??

SimCityAT Expert

13762POSTS

7 years ago

horseman2012 wrote:
The charitable group at the Library to which I want to give the donation doesn't聽 have that capability...or else they don't want to expose their bank info...I don't know.聽聽It's a Library..they accept checks聽 or cash...period.聽聽That is not the issue.聽聽Why in Italy聽 can't a person get a simple Cashier's check denominated in whatever world currency ?聽聽聽We are a global economy...banks in every country聽 are able to聽 issue checks in any currency.聽 It's a normal procedure.聽 The bank in Italy was offensive..telling me that the USA should not require checks denominated in dollars.聽 Yet ANOTHER聽 example of the hatred I've experienced in聽 Italy against America.聽聽I've聽 have Cashier's checks issued in聽 foreign currency聽 by banks聽聽in London, Paris,聽 New York聽 etc..etc.聽 WHY are Italian banks so hopelessly聽 backwards??

Cheques (Checks) are a becoming lest less used (even in the UK) in Europe. Everything is done by electronic banking. Maybe you should suggest to [the library] to set up a Paypal account?

This is nothing against America at all, this is how things are in EUROPE. If the party you want to send money to and won't give bank details to transfer money I would be asking WHY?

horseman2012 Active member

96POSTS

7 years ago

I beg to differ.聽聽It is the聽 Public Library in my city in Massachusetts and they do receive international checks denominated in USD from聽 others.聽聽It is not our place to question their policy.聽聽聽 Banks in Europe,聽 i.e.聽 London, Edinburgh,聽 Paris,聽 Frankfort....as well as in聽 New聽 York , Boston..Montreal etc...issue checks denominated in whatever foreign currency is required...i.e euros,聽 even in Chinese currency.聽聽I have personally done so.聽聽It is聽 standard procedure.聽聽聽 The fault lies with聽聽this uninformed, backwards, anti-American聽 bank in ITALY which does not understand international transactions.

nicog1 Active member

73POSTS

7 years ago

I know that about 20 years ago when I worked in Switzerland that was the only country that accepted accounts and transactions in different currencies. Things may have changed now for other countries. I also know that I cannot get a check in euro here in the US where my banks are Citi and Chase ( but I can do wire transfers) So , I am not which bank in the US would issue a check in another currency. The big question as an expat is why have you not kept a US bank account

1 member reacted to this post

horseman2012 Active member

96POSTS

7 years ago

Well... I've made some inquiries and have learned that ,聽 among others,
HSBC in the USA, London, etc.聽 issue checks denominated in foreign currency...as does Union Bank of Switzerland.聽聽I have a friend who had to send a Cashier's Check from the USA to Europe for a deposit on an apartment rental and the owner聽 of the apartment demanded a check denominated in euros.聽 HSBC in the US聽 did it..no charge.聽聽聽Most banks, even the small ones, have arrangements in place these days to issue and clear their foreign currency drafts through one of the large international banks such as Chase, Citibank etc.聽聽I've spoken with a small bank in Mass. and they told me that they will do so , via their International Bank correspondent.聽聽For security reasons. many individuals聽 and small businesses do not want聽聽to reveal their bank account numbers and details, which is perfectly understandable.聽聽 I've come to the conclusion that,聽 at least my bank in Italy..(along with most of the country)..is 50 years behind the times...and..at least at my bank, ..disgracefully anti-American.聽 I am聽 relaying only my personal experiences and those of some American friends who visited.

horseman2012 Active member

96POSTS

7 years ago

SimCityAT wrote:
horseman2012 wrote:
The charitable group at the Library to which I want to give the donation doesn't聽 have that capability...or else they don't want to expose their bank info...I don't know.聽聽It's a Library..they accept checks聽 or cash...period.聽聽That is not the issue.聽聽Why in Italy聽 can't a person get a simple Cashier's check denominated in whatever world currency ?聽聽聽We are a global economy...banks in every country聽 are able to聽 issue checks in any currency.聽 It's a normal procedure.聽 The bank in Italy was offensive..telling me that the USA should not require checks denominated in dollars.聽 Yet ANOTHER聽 example of the hatred I've experienced in聽 Italy against America.聽聽I've聽 have Cashier's checks issued in聽 foreign currency聽 by banks聽聽in London, Paris,聽 New York聽 etc..etc.聽 WHY are Italian banks so hopelessly聽 backwards??

Cheques (Checks) are a becoming lest less used (even in the UK) in Europe. Everything is done by electronic banking. Maybe you should suggest to [the library] to set up a Paypal account?

This is nothing against America at all, this is how things are in EUROPE. If the party you want to send money to and won't give bank details to transfer money I would be asking WHY?

SimCityAT.

聽聽聽Many individuals and small businesses,聽 libraries etc.聽 do not give out their private bank info for security reasons,聽 perfectly understandable.聽聽The question is NOT聽 WHY those folks will not reveal their bank details.....The question is WHY are Italian banks so backwards and anti-American that they "claim"
to have no idea how to effect聽 a simple international Cashier's Check denominated in a foreign currency!!??聽 It is a simple , common procedure in other countries.

nicog1 Active member

73POSTS

7 years ago

Thank you for the info. I do indirectly have聽 an HSBC account and I could you use in the future for similar transactions. I don't think they are 50 years behind . It's the bureaucracy.

1 member reacted to this post

SimCityAT Expert

13762POSTS

7 years ago

#10

horseman2012 wrote:
I beg to differ.

I am sorry but this is the way it is.

horseman2012 Active member

96POSTS

7 years ago

#11

SimCityAT wrote:
horseman2012 wrote:
I beg to differ.

I am sorry but this is the way it is.

With all due respect,聽 it is聽 unconscionable and reprehensible that the聽 Italian banks refuse to learn how to effect a simple international transaction.

horseman2012 Active member

96POSTS

7 years ago

#12

nicog1 wrote:
Thank you for the info. I do indirectly have聽 an HSBC account and I could you use in the future for similar transactions. I don't think they are 50 years behind . It's the bureaucracy.

It is high time that these people in Italy "unbureaucratized "聽 themselves.

Cynic UK/Netherlands Expert

8111POSTS

7 years ago

#13

Don't see what the problem is; just did a quick Google search and many Italian banks offer Bankers Cheques service.

1 member reacted to this post

horseman2012 Active member

96POSTS

7 years ago

#14

Cynic wrote:
Don't see what the problem is; just did a quick Google search and many Italian banks offer Bankers Cheques service.

Could you tell me please which ones?聽 Do you mean聽 that聽 they offer the Cashier's checks denominated in US Dollars?聽 The banks to which I was referring do so only in euros.

Cynic UK/Netherlands Expert

8111POSTS

7 years ago

#15

horseman2012 wrote:
Cynic wrote:
Don't see what the problem is; just did a quick Google search and many Italian banks offer Bankers Cheques service.

Could you tell me please which ones?聽 Do you mean聽 that聽 they offer the Cashier's checks denominated in US Dollars?聽 The banks to which I was referring do so only in euros.

La Banca D'Italia was one of them.