Re: [AGA-sc] Contest Awards -- Prizes and costs to contestants

[Larry Lampert <l_lampert@yahoo.com>]

I agree, until we have a better option avaialable we
absorb the costs.

Larry

--- Karen Randall <krandall@rdrcpa.biz> wrote:

> I think that until we think of a better solution,
> AGA should absorb the transaction costs.
> 
> Karen
> 
>   ----- Original Message ----- 
>   From: S. Hieber 
>   To: aga-sc@thekrib.com 
>   Sent: Friday, November 24, 2006 11:42 AM
>   Subject: [AGA-sc] Contest Awards -- Prizes and
> costs to contestants
> 
> 
>   Foreign winners in the Aquascaping Contest can
> face substantial transaction fees of about $20 or so
> to process a foreign check. They would like to avoid
> these costs, especially when the prize is only $25.
> These transaction fees are the result of the prices
> banks charge for dealing with out-of-country checks.
> 
>   We didn't adequately consider the transaction
> costs when we decided to offer prizes. We committed
> that oversight when we were going to use vendor
> donated items and then came upon the shipping costs
> and related problems. We did it again when we
> switched to "cash". This is a Victorian "we;" as the
> money guy, the transaction costs are something I
> should have thought about and brought up way back
> when. My apologies to the group.
> 
>   So, in belated restitution let me offer the
> following options for consideration.
> 
>   I think there are four ways to deal with this:
> 
>   Whistle-past-the-graveyard options:
>   1) Advise prospective contestants that prizes will
> be award by check drawn upon a USA bank and winners
> might 
>       incur transaction charges when they process
> prize checks  (no added costs to AGA)
>   2) do as we have been, offering Paypal or mailed
> cash;    (no added costs beyond what we pay now,
> i.e. paypal);
> 
>   Bite the bullet options:
>   2) getting a credit card and using Western Union;
> or         (added AGA costs for card and WU -- about
> $20-25
>       per transaction)
>   3) Going to the bank and purchasing cashier
> checks.        (added AGA costs for cashier
> checks--about $20-$25
>       per transaction)
> 
>   None of these will eliminate all transaction costs
> for all overseas contestants but the last two will
> mitigate for nearly all and eliminate for many. The
> latter two options would basically mean that the AGA
> eats about $20 in additional costs per transaction.
> 
>   I don't think it would unreasonable for the AGA to
> take on an additional $360-$450 in contest costs to
> try to absorb most of the transaction fees. I know
> contest participation isn't about the money, but
> sending someone a prize that is virtually consumed
> by the winner's acceptance of it, well, it just
> doesn't look like our best foot forward.
> 
>   sh
> 
> 
>
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