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#2189211 - 08/15/18 04:08 PM canadian dollars loan pmt
Burgess Offline
Diamond Poster
Joined: Jan 2004
Posts: 1,621
so this wasn't a big deal - but just wondering how others would handle:

we had a loan customer make a pmt in Canadian dollars.

it will take a couple of days to get the pmt converted to US dollars.

so this turned out to be not a big deal with currency fluctuations, but what if it had? if currency had gone down in value we could have been looking a portion of the loan going past due.

Anyone come across this before?
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Lending Compliance
#2189214 - 08/15/18 04:22 PM Re: canadian dollars loan pmt Burgess
fmissle Offline
Diamond Poster
Joined: Jul 2007
Posts: 1,016
Pac NW
Our loan documents specify that payments will be made in lawful money of the US. Therefore, we wouldn't accept it.

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#2189261 - 08/15/18 07:05 PM Re: canadian dollars loan pmt Burgess
crcmnot Offline
Gold Star
Joined: Sep 2016
Posts: 351
^^^^^What she said

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