SIC Cash/Shaw bouncing checks
 

Anyone else having this problem? They've bounced 3 checks with us lately.

I just deposited one yesterday, and I had 3 in May that were fine (last one deposited 5/27)

We got one back around April 28th, another around May 19, and one yesterday.

Again?

They bounced several on me at the end of last year and the beginning of this - which fuckin reminds me - I think I still have one to get replaced.

They've gone thru okay since then, but I've got some waiting to be deposited.

I can assure anyone.. that we are not bouncing checks.. if you've had any problems.. please feel free to check our website and contact accounting.. or me personally.. i'd be willing to bet that someone's bank is hand keying vs using the micr scan..

thanks
greg

(who is on vacation.. but took time to respond ;))

if you have any concerns.. please .walk into any Bank of America and just cash it.....

Just an FYI to the board, Greg with SIC/Shaw replied to my icq this evening regarding this. He's on vacation but took the time to reply. He asked me to get with his accounting person on Monday and they'd get to the bottom of this. He assured me that they had plenty of money in that account and is reasonably certain that it is a banking problem of some sort.

I will post the outcome here.

CJS

Bouncing checks doesn't sound like their style. They've been around a long time with a good track record.

Hey CapainJSparrow.. please hit me up on icq so that I can get the check numbers to contact BofA to see what happened..

thanks
greg

An FYI to the board, apparently the problem is not a Shaw/SIC problem. Apparently the check account number was blurry (could be a problem with my bank, Capital One, the Fed, or Bank of America...but I'm betting it's either Capital One of the Fed). Thanks to Greg from Shaw for helping get to the bottom of this so quickly.

My bank, Capital One, just called me and told me that the problem was with (I believe she said it's a new policy) that the Federal Reserve. Basically what happens, any of us make a deposit into our banks (mine is Capital One), that bank sends those checks to the Fed (the Fed is basically the federal bank for banks and they have different locations across the country), the Fed then takes those checks and takes them out of the proper bank account (in this case it would be SIC's Bank of America account) and deposits them into the proper bank account (in this case it would be Capital One's account). Apparently the Fed converts the checks to IRD and they have made some mistakes with these checks, whether it is coding them in on some sort of copying process, I don't have a clue. My bank said for me to bring the check in question to them and they will code it by hand and collect the funds and deposit them into my account.

Hence, for all concerned it was never a problem with SIC...it's a banking issue.