CIBC Bank Fiasco/WMRC Cheques
We expect virtually every single cheque written by the club last weekend is going to bounce. This is a result of CIBC's computer problems last weekend. There's nothing the club can do this weekend and everyone's going to have to wait until the dust settles next week to see how this is all going to work out.
The club has gobs of cash available; it's just that CIBC's computer thinks otherwise right now.
This is right in line with what Royal Bank went through a month ago and Scotia Bank went through six months before that.
Gotta love computers!
WMRC Past Prez three time
But why do they never drop a million or two into my account? Now that would be intresting....
I haven't cashed my cheque yet, let me know when everything is back to normal so I can avoid the hassle.