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Re: [802SEC] FW: [802SEC] 802 Banking account proposal



All,

As one who has "been there and done that", I completely agree with Buzz 
on the need for a "local" branch.

Thanks,

Bill Q

Rigsbee, Everett O wrote:
> Carl,  I disagree.  There are times you do need to actually go into a
> branch, e.g. to order an international wire transfer.  
> 
> And there are times when we have to cover for one another so having a
> local branch and a local banking representative to deal with is
> essential for those of us with signatory power.  
> 
> 
> Thanx,  Buzz
> Dr. Everett O. (Buzz) Rigsbee
> Boeing IT
> PO Box 3707, M/S: 7M-FM
> Seattle, WA  98124-2207
> NOTE: New phone number; please update your list.
> Ph: (425) 373-8960    Fx: (425) 865-6721
> Cell: (425) 417-1022
> everett.o.rigsbee@boeing.com
> 
> 
> -----Original Message-----
> From: Carl R. Stevenson [mailto:wk3C@wk3c.com] 
> Sent: Friday, October 13, 2006 7:47 AM
> To: Rigsbee, Everett O; jhawkins@nortel.com
> Cc: stds-802-sec@listserv.ieee.org
> Subject: RE: [802SEC] FW: [802SEC] 802 Banking account proposal
> 
> 
> Buzz, et al,
> 
> I believe that John's point is that the "concentration banking" is with
> Wachovia, but you don't need to physically GO to a branch ... So the
> location of brances is essentially irrelevant.
> 
> I'm sure that John will correct me if I'm wrong.
> 
> 
> Carl
>  
> 
> -----Original Message-----
> From: owner-stds-802-sec@ieee.org [mailto:owner-stds-802-sec@ieee.org]
> On
> Behalf Of Rigsbee, Everett O
> Sent: Friday, October 13, 2006 3:21 AM
> To: jhawkins@nortel.com
> Cc: stds-802-sec@listserv.ieee.org
> Subject: [802SEC] FW: [802SEC] 802 Banking account proposal
> 
> 
> John,  As the 2nd attachment and the URL below show Wachovia location
> are
> only in Southeast and Eastern states plus Texas.  I'm a lot further from
> a
> Wachovia branch that you are from a US Bank branch.  Let try to pick
> something that is a bit more universal.  
> 
> See:
> http://wachovia.via.infonow.net/locator/SearchAction.do;jsessionid=749AA
> 8276999306998A65D5F2F14787D.webls2?country=USA&searchCustom__adv=false&m
> apAndList=mapAndList&street1=&city=&stateProvince=WA&postalCode=98004&se
> archCustom__locationTypeBranch=BRANCH&searchCustom__locationTypeBranchIs
> Present=TRUE&searchCustom__locationTypeAtmIsPresent=TRUE&SEARCH=Search
> 
> By comparison there are 5 Bank of America branches within 5 miles of
> your
> home (see 1st attachment).  There are even more in my area and all over
> California and Massachusetts and New York, and virtually every other
> state
> including Alaska & Hawaii.  So if we want easy access BofA would seem to
> be
> the logical choice.  Plus they have all the features we are seeking and
> have
> the best online banking system of all the ones I've
> tried.  Try it, you'll like it !!!     :-)   
> 
> 
> Thanx,  Buzz
> Dr. Everett O. (Buzz) Rigsbee
> Boeing IT
> PO Box 3707, M/S: 7M-FM
> Seattle, WA  98124-2207
> NOTE: New phone number; please update your list.
> Ph: (425) 373-8960    Fx: (425) 865-6721
> Cell: (425) 417-1022
> everett.o.rigsbee@boeing.com
> 
> 
> -----Original Message-----
> From: Rigsbee, Everett O
> Sent: Thursday, October 12, 2006 3:24 PM
> To: STDS-802-SEC@listserv.ieee.org
> Subject: Re: [802SEC] 802 Banking account proposal
> 
> 
> John,  I think you are trading your problem with US Bank for mine with
> Wachovia, which as far as I know only has branches east of the
> Mississippi.  I thought we were going to do Bank of America, which is
> truly everywhere in the US.  If I remember correctly there were some
> serious problems with the IEEE concentration banking concept that Bob
> Grow detected early on and recommended against our choosing them, not
> the least of which was that IEEE could choose to withdraw all of our
> money without our permission and with no warning to us.  There were some
> other problems too if I remember correctly.  
> 
> I'm all for us getting a better (more progressive) bank to work with,
> but I think we should stay independent with a bank that is truly
> ubiquitous, e.g. Bank of America.  
> 
> 
> Thanx,  Buzz
> Dr. Everett O. (Buzz) Rigsbee
> Boeing IT
> PO Box 3707, M/S: 7M-FM
> Seattle, WA  98124-2207
> NOTE: New phone number; please update your list.
> Ph: (425) 373-8960    Fx: (425) 865-6721
> Cell: (425) 417-1022
> everett.o.rigsbee@boeing.com
> 
> 
> -----Original Message-----
> From: John Hawkins [mailto:jhawkins@NORTEL.COM] 
> Sent: Thursday, October 12, 2006 2:50 PM
> To: STDS-802-SEC@listserv.ieee.org
> Subject: [802SEC] 802 Banking account proposal
> 
> 
> Folks,
> 
> At the November plenary, I'd like to propose a motion, seeking your
> approval to change our provider for banking services. In advance of
> that, I thought I'd explain the rationale, and entertain your questions
> so the matter could be dealt with expeditiously at the closing EC
> meeting.
> 
> I'm proposing we sign on with a new program IEEE is providing referred
> to as "Concentration Banking" where all societies/regions/conferences
> etc pool their funds. Some advantages:
>  - We receive a more favorable interest rate (currently 4.94%)
>  - The program provides for a Bank Card (similar to a debit card) which
> should facilitate small purchase transactions. 
>  - The provider is Wachovia bank, so proximity to a physical branch will
> no longer be an issue (US Bank's nearest location to me is Franklin, TN
> - 4 hours away). Though instances are rare when I actually have to be at
> a branch in person, it's a nice to have.
>  - The program provides individualized banking statements with all the
> information we need to track transactions per our current practice. This
> includes online facilities for monitoring account activity.
>  - There are no fees associated with the account. 
>  - Transitioning the management of this account to my successor (whoever
> the lucky person may be :-) should be easier as physical presence at the
> bank is not required.
> 
> More information is available at
> http://www.ieee.org/portal/pages/services/financial/treasury/concentrati
> on.html
> 
> I'm happy to answer any questions or address concerns you may have. 
> 
> Look forward to seeing everyone in November.
> 
>> john  
>> Treasurer, IEEE 802 Executive Committee
>> Tel 770 708 7375 (ESN 268) 
>> Fax 770 708 7376 * Email jhawkins@ieee.com 
>> Mail 4145 Ivy Chase Ln, Suwanee, GA 30024 
>>
>>
>>
> 
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