Sorry, I forgot to include some information regarding the costs of cord blood banking. Donation is free, of course. Some people plan to bank the cord blood, and that costs money. You pay a fee upfront for all the processing and such, and then a yearly fee to maintain the storage. My mother really wanted to do this. I did not. I said, fine, we can attempt it, but not without my baby getting the first shot at the blood. So my mom paid for the deposit (roughly $1000). The company we used agreed to refund us minus a small fee if the collection didn't succeed. So, since the collection didn't succeed, we did get all our money back except roughly $100, which is entirely fair given that they sent all the collection materials and spent some customer service hours and filing and such on us. In our case, the refund was no problem and they didn't play any games.
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I wanted to share that experience in case someone had their heart set on banking - because you really wouldn't be out much if the collection didn't succeed. And think about it, if there is not enough blood left to collect, that means your baby needed it.
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I do acknowledge that there may be some extreme cases where the donation of this blood may be worth considering even if the baby doesn't get it all. Clearly most babies survive premature cord clamping. But I think it's easy to see that it's not ideal at all.