[amsat-bb] Foreign Bank Drafts (fwd)

[Clifford Buttschardt <cbuttsch@xxxxxxxxxx>]

Bob and the net members:  This message is 17 months old and might not be
of value, but it was VERY useful then.  You may want to check it out
before spending fifty dollars with a local bank.  If this remains a good
contact, let the rest of us know on the AMSAT-BB.    Cliff K7RR

---------- Forwarded message ----------
Date: Sun, 04 Jul 1999 09:29:08 -0400
From: "Ronald K. Long" <long.22@osu.edu>
To: amsat-bb@AMSAT.Org
Cc: nova-net@nlsa.com
Subject: [amsat-bb] Foreign Bank Drafts

Easy and Inexpensive Way to get Bank Drafts in a Foreign Currency

With the growth of the world wide web and global commerce many USA
hams will want to purchase an item, new or used, from a ham in
another country and the individual will want payment with a bank
draft in his local currency.

The USA is a large country with lots of variations but I have found
that either my bank branch does not know what I am talking about or,
more frequently, they have an excessive charge for even the smallest
amount.

I found the solution from an article in the Wall Street Journal a 
couple of years ago. It has worked well for me.

Call 800-424-2923. 

This is:
  Ruesch International
  700 11th Street NW
  Washington, DC 20001-4507.

Tell them you would, for example, like a check for NZ$200 (New Zealand
dollars). They will tell you the current exchange rate and the
corresponding amount in US$. You then send them a personal check for
that amount plus their fee of $2. In a few days you will get your check
ready to mail.

They probably will ask you for your account. Just tell them that you 
are an individual and would like a temporary account. No problem.

Ruesch has offices in a number of large US cities but I have found
that it is easiest to deal with the 800 number.

They also have a web site but to my knowledge you can't do these 
transactions there but it has interesting information including all
the office locations. http://www.ruesch.com/

Although this note was written with USA hams in mind, you will note
that Ruesch has offices in London, Zurich and Prague also.

Good luck. Ronald Long, W8GUS.
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