To those getting refund checks:
Posted: Mar 10th 2003, 2:43 am
First, a question:
Are they money-orders, or are they checks directly from "American Entertainment"? If they are money-orders, just filled out by "American Entertainment, then you can ignore this.
If they are indeed checks directly from "American Entertainment" make sure you wait 2 or 3 weeks before you decide that it has cleared your bank. If learned the hard way (and maybe Jason and Howard can back me up on this). What happens is the bank issues you the money in good faith. Then they send the canceled check to the issuing bank, and that bank sends them the money to cover it.
What has happened in the past is your bank will issue you the money, and it looks like the check cleared perfectly. Then the bank sends off the check, and the issuing bank tells your bank that there isn't money to cover it, and it bounces. Then your bank takes the money back and charges YOU for bouncing the check. It is then up to you to collect the money. So don't spend that money until at least 2 weeks go by. And don't assume that the instant you see the money in your account, that you have the money.
I would suggest adding the lines "Any bounced checks will be subject to a 20% charge." along the bottom of your refund request. Then make a copy of it.
Are they money-orders, or are they checks directly from "American Entertainment"? If they are money-orders, just filled out by "American Entertainment, then you can ignore this.
If they are indeed checks directly from "American Entertainment" make sure you wait 2 or 3 weeks before you decide that it has cleared your bank. If learned the hard way (and maybe Jason and Howard can back me up on this). What happens is the bank issues you the money in good faith. Then they send the canceled check to the issuing bank, and that bank sends them the money to cover it.
What has happened in the past is your bank will issue you the money, and it looks like the check cleared perfectly. Then the bank sends off the check, and the issuing bank tells your bank that there isn't money to cover it, and it bounces. Then your bank takes the money back and charges YOU for bouncing the check. It is then up to you to collect the money. So don't spend that money until at least 2 weeks go by. And don't assume that the instant you see the money in your account, that you have the money.
I would suggest adding the lines "Any bounced checks will be subject to a 20% charge." along the bottom of your refund request. Then make a copy of it.