Could Your Rebate Check Bounce?
Costco Tells Customers: Don't Deposit Checks
POSTED: 4:39 pm EST November 18,
2008
UPDATED: 5:41 pm EST November 18,
2008
Email
Print
BOSTON -- Your decision to buy something may be motivated by a rebate offer. The money you get back can offer substantial savings.But now, one of the biggest rebate processors is having financial trouble and has filed for Chapter 11 bankruptcy reorganization.
Could Your Rebate Check Bounce?In a statement, Continental Promotion Group told NewsCenter 5 that it's experiencing "the economic problems facing many companies." CPG is restructuring and, in the meantime, is working with its clients "to the extent possible to assist with the honoring of consumer rebate checks."For example, Costco has a warning on its Web site that states: "No rebate checks dated prior to November 13, 2008 should be deposited into your bank account. These checks should be redeemed at your local Costco warehouse." You also can send it to the store's headquarters.Costco doesn't name its rebate redeemer, nor does the company explain what's going on.But one thing is clear -- rebate checks may bounce because Costco promises to cover any related bank fees for customers who've already deposited one in their personal checking account.NewsCenter 5 asked Costco for the name of the company that handles its rebate program. Costco hasn't responded yet, so it's hard to know how widespread this problem is.In the meantime, if you receive any rebate check, call the retailer to make sure it's good before taking it to the bank.
Could Your Rebate Check Bounce?In a statement, Continental Promotion Group told NewsCenter 5 that it's experiencing "the economic problems facing many companies." CPG is restructuring and, in the meantime, is working with its clients "to the extent possible to assist with the honoring of consumer rebate checks."For example, Costco has a warning on its Web site that states: "No rebate checks dated prior to November 13, 2008 should be deposited into your bank account. These checks should be redeemed at your local Costco warehouse." You also can send it to the store's headquarters.Costco doesn't name its rebate redeemer, nor does the company explain what's going on.But one thing is clear -- rebate checks may bounce because Costco promises to cover any related bank fees for customers who've already deposited one in their personal checking account.NewsCenter 5 asked Costco for the name of the company that handles its rebate program. Costco hasn't responded yet, so it's hard to know how widespread this problem is.In the meantime, if you receive any rebate check, call the retailer to make sure it's good before taking it to the bank.Copyright 2008 by TheBostonChannel.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
