US Check Clearance Blocked - Americans in Israel Stranded
"Everyone is nervous."
By: Yori Yanover Published:-- October 3rd, 2013
American banks are not processing for clearance any checks coming from outside the U.S. A Jerusalem money changer believes this is yet one more result of the American government shutdown, entering its second day. Photo Credit: Abir Sultan/Flash 90 U.S. citizens staying in Israel have discovered this week that they are no longer able to get Israeli shekels in exchange for their checks which are drawn to U.S. banks.
Until this week, Israeli foreign exchange places would accept U.S. checks, at least from their regular customers, and would pay them out for a fee of 1 percent of their value.
But this is no ,longer the case. “The problem is with the check clearance process,” a Jerusalem money changer who asked to remain anonymous told The Jewish Press. “No one outside the U.S. is able to do check clearance. It’s an international problem, it’s not a problem only in Israel.” American banks are not processing for clearance any checks coming from outside the U.S.
The Jerusalem money changer believes this is yet one more result of the American government shutdown, which is into its second day.
Original Article: Jewishpress.com
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