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To: Road Walker who wrote (182274)	10/10/2005 5:11:35 PM
From: Amy J	Read Replies (1) \| Respond to of 186894

OT OT These terrorist alerts are a pain for small companies. Every time they do an alert (like they've been doing for the past week or so), the banks need to perform extra preventive steps on wire transfers, which is a good thing. But the bad thing is it slows transfers of funds down by many days, sometimes as much as a week or two, and the bank reps don't realize how long the delays will take (and they don't tell companies that transfers are being delayed, in fact they promise 24 hours completion or in other types of transfers the carrier will promise 4 days completion), meanwhile, the delays happen sometimes as long as a week or two when to/or/from international. Last week, I've seen three separate, major transfers get stalled to a grinding halt - payroll funds for one foreign division moved to that country, revenue in one country being moved back to USA, capital funds sent to yet another. And these three major transfers of funds still haven't completed but should have all completed last week. And today being a bank holiday will further the delay more. I'm glad they are being preventive but it's short-term inefficient because the banks do not provide clarity - huge funds just get held up for days and days and maybe an entire week or more, yet the banks never give you the right time estimate because these alerts throw them out of kilter, which is understandable, but a royal pain. It's the lack of accurate estimate that we have issue with, not the delay itself nor the extra preventive steps needed during alerts. We may need to avoid using any banks in the USA, because that's the root of all delays. I bet big companies aren't treated this way because their brandname identifies themselves clearly. For small companies, without giving us an accurate estimate, they thus expect accounting departments to write an entry into their general ledger that says "huge funds to be transferred but are stuck in la-la-land for an unknown period of time." Talk about exasperating cashflow management when you already have challenges from strong growth. If the govt is going to slow financial transfers down with alerts, then the govt needs to be more aggressive with raising interest rates to slow the economic growth down, so things are more manageable. Regards, Amy J