Large Cash: A Notice Regarding Cheques/Webmaster Earnings
 

The following information pertains to all webmasters, working with Large Cash, whom are expecting cheques, and webmasters with cheques that have not been cashed:


This morning I was informed that an agreement/contract between our bank, Royal Bank Of Canada (BRC), and Chase Manhattan (CM)----CM cleared/verified Canadian funds being processed/cashed in the UnitedStates---- has come to an end, which is forcing us to open a new account (same bank and company name).

Due to the above, ALL Large Cash cheques, from the Zenon Communications Corporation (ZCC), which have not been cashed, are now void

ALL Large Cash webmaster cheques, from ZCC, which have not been cashed, WILL be replaced with a guaranteed funds certificate (GFC), or money order!

ALL future webmaster earnings will be also be sent out as GFC, until further notice.

The replacement process will be somewhat lengthy, for which we offer our sincerest apologies for, and ask that you please continue to be patient with us.

Again, webmaster holding on to cheques are asked to destroy them. Do not attempt to cash them! You will receive another.

If you have any questions or concerns, please forward all to paco@largecash. Please ensure that you always include your WID along with the pertinent information (cheque #, and $ amount).


Again, we apologize for the inconvenience and would like to thank you for your patience.
~LargeCash

ouch, that sucks.
I mean, for both the WMs and for you guys, what a pain in the butt.

Agreed & thanks.

Our accountant spent the entire morning in the bank trying to find out what happened, and why we were not informed.

The battle with them regarding all the fines/fees for returned cheques will also be a pain.

I got that letter from RBC as well, all our par crossing checks were settled at that First National Security or something like that. And now that RBC is no longer working with them they gave until Sep 1st to cash the checks or they'll become void. Of course RBC isn't going to replace the checks we got issued which is just great. Now we need to get brand new par crossing checks and those are never cheap :(

WG

Ohhh and lets not forget about the $7 - $17 bounce fees incurred for those now void checks. RBC didn't make any mention that they would be paying for that either. What a great way for RBC to clean up huh.
WG

Sorry to hear you're also going through this, and thank you for providing me with more details about this.

Yah, that (fees/fines) is what we are arguing with them over.

bump

(sorry, for bumping & chasing my own post.)

* * **UPDATE * * *

Due to a change in routing codes with our US clearing bank, Chase Manhattan, any checks cashed between August 1 and August 5th may be returned. We were not informed of this change, but it has been corrected. If you have been affected by this bank error, our bank has offered to provide replacement money orders.
We apologize for any inconvenience this may have caused.


You do not have to destroy any cheques. We simply ask that you wait until the August 6th, to deposit them.

Thank you.
~Large Cash

What a pain in the ass : (

Sorry Paco

Thank you, kindly, Luv!
^_~

To all webmasters whom are working with LargeCash (LC):

The cheque replacement process has started!

To start, we will be sending out money orders (aka GFC). The money order fee has been waived by our bank, only until our new cheques arrive.
Once we receive our order of new (blank) cheques they (new cheques) are what will be sent.

So, if you prefer a money order, I suggest you FAX the following information to us IMMEDIATELY. Like within the next week!
After that, odds are you will be sent a replacement cheque, and money order will no longer be offered.

So, please to fax to us, as quickly as possible, a copy of the cheque/s which have not been cashed, or at the very least fax to us ALL of the following information:

- Your LC webmaster ID (WID)
- Cheque number (top-right corner in bold numbers).
- Print Date.
- Dollar amount.

Our Fax #: (780) 424 9747

If you do not fax to us ALL of the above requested information, the process for you WILL take longer since I will have to contact you back so to acquire it.

If you do not have access to a fax machine, e-mail all the information to us. PLEASE, ensure you use the following 'subject line': LargeCash Replacement Cheques.


Thank you all for your patience.
~Large Cash

Does that mean Royal is not doing par crossing at all now or are they doing it with another bank in the u.s?

Bomber

Thanks for the update Paco

Bomber8888 - what I understand, this means Chase Manhattan is no longer looking after that for Royal Bank.

I almost shot my coffee across the parking lot when our beyond stunned account manager through in her 2 cents: " ... you can thank Al-Queida and 9/11 ..."
yup! She seriously tried using that on us.

I guess they thought the mere mention of both would have reset our thought pattern.
No wonder people hate banks.


Manowar - it is truly my pleasure. I wish this would have been taken of sooner, for the more than obvious reasons.
If you are somehow involved in this mess, I do offer to you my sincerest apologies.