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Information on Rebates Informative - Rebate Checks May Bounce

Review by 32031 on 2008-11-14
I just read an article which reveals that the largest rebate processor in North America doesn't have enough funds to cover checks recently sent out. Turns out they have over $11 million in rebates processed but only have $3 million to cover them. They have contacted their clients to obtain more funds but it's unknown when that may happen. So be careful because your rebate check may bounce causing you to pay a recovery fee to your bank.

http://enthusiast.hardocp.com/article.html?art=MTU4NCwxLCxoZW50aHVzaWFzdA==

BTW a few years ago I stopped buying anything that had a mail-in rebate.
Comments:9 Replies - Latest reply on 2008-11-17
Posted by madconsumer on 2008-11-14:
wow, this is news. this has to show our countries current economic state. when a business cannot even afford to maintain their rebates.
Posted by Anonymous on 2008-11-14:
I steer clear of anything that has a mail-in rebate. I just don't trust the system, especially with all the complaints about them.

Thanks for the info, PB!
Posted by Principissa on 2008-11-14:
Great post Passing!! This is important for anyone who has filled out or is expecting a rebate check. If one of those checks is bad and you cash it, you're going to rack up fees if it overdraws your account.

Like you, hubby and I stopped bothering with rebates. It's not worth it. If I want a product and I like it, an incentive isn't going to get my to buy it.
Posted by Anonymous on 2008-11-14:
Very good info PB. Like MissMarple I also try to ignore the rebate hype unless it's the instant rebates right at the cash register. (VH)
Posted by Principissa on 2008-11-14:
I just feel bad for the people who get these checks and then overdraw their account because they bounced!
Posted by qualityappliance on 2008-11-15:
If a bad rebate check is all that it takes to put someone overdrawn, I think they are running a little to thin in the account to begin with.
Posted by Starlord on 2008-11-16:
Ihave never received a promised mail-in reabate, except for one on Coca-Cola products. Every other rebate request I have sent must go to the rebate office in the Twilight Zone.
Posted by snipsnip on 2008-11-17:
I HAVE ALWAYS RECEIVED MY REBATE CHECKS, HOWEVER, I MAY THINK BEFORE BUYING SOMETHING WITH A REBATE. AT, LEAST WHILE ALL THIS ECONOMIC PROBLEMS ARE GOING ON.
Posted by silky99cat on 2008-11-17:
I try to avoid rebates, but sometimes the deal is just too good to pass up. I have never had a problem with getting a rebate, however. I am expecting 2 from my cell phone company--I am wondering what company is having the problem.

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