I have been working as a contractor with a Canadian company since September. My latest job was billed at $15,000. The check is late. I wanted it wired, but the payor states vague "problems with new U.S. banking regs" that no one else has heard of. He supposedly has an account at NY bank, so no collections. It was sent today by expedited mail. Is anyone aware of any recent banking changes? I am a retired Customs agent and it smells like BS to me.
There certainly have been a lot of legal and regulatory changes affecting U.S. banks in the last several months, but not any that would have complicated the delivery of a wire transfer to your account, so we agree that there is something out of order. If the company mailed your check, take a careful look at it before depositing it to make sure it's drawn in U.S. dollars on a U.S. bank account, otherwise, you could experience delays in getting your funds, and the exchange rate could affect what you get once the check is collected.
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There certainly have been a lot of legal and regulatory changes affecting U.S. banks in the last several months, but not any that would have complicated the delivery of a wire 