Tue, 28 Sep 2010

Canadian Banking System WTF?? (Number 2)

We occasionally receive wire payments from our customers. The US dollar wire payments go into our USD account, and our statement shows the name of the company making the payment.

However, Euro wire payments are first converted into Canadian dollars and then deposited. Our statement just shows a foreign exchange with absolutely no indication where the money came from. We just have to guess.

I asked my bank about this. They said they could trace the origin of the payment "for a fee."

I'm so happy with the Canadian banking system. It can track all kinds of transactions to nail terrorists and drug dealers, but it can't even tell its own customers who is paying them.


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