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I was the one who suggested to John Chew that perhaps NASPA should have a Canadian address and a Canadian bank account where Canadian tournament directors can forward their tournament "ratings fees" (or whatever they will soon be called).
I think this would avoid a lot of cross-border financial transactions that often require tournament directors to guess at the current exchange rates. Based on personal experience, I've found that Canadians often feel alienated when they deal with an entity located in the United States.
A fair exchange rate could be fixed periodically (perhaps monthly) by NASPA so a tournament director would know prior to his/her tournament what exchange rate he/she is facing when trying to calculate a tournament budget. The Canadian NASPA banker would then, periodically, forward all the money in one transaction to the NASPA treasury, which, I assume, will be situated somewhere in the United States.
Does this idea have any merit, or it is unnecessarily complicated?
Another advantage of setting up a Canadian bank account is that players and directors could use the domestic INTERAC Email Money Transfer service, which is cheaper than PayPal in many cases, and charges the fee to the sender, not the recipient. I think though that setting up a Canadian bank account requires incorporating in Canada, which will involve time and expense. John, perhaps you could look into what documentation is required to set up a business account at a Canadian bank?
Poslfit 13:47, 26 February 2009 (EST)