On September 14, 2012, one of Cachet's sponsor banks had a problem processing one of our ACH files. Although there was nothing wrong with the ACH file or the transactions within the file, our sponsor bank had a technical problem that prevented the file from processing. We are still working with the bank to try to determine why their system aborted the file. Please note that all other files for the day were processed successfully; therefore, not all Remarketers or Clients were affected.
The delay was NOT due to a Cachet processing error. Our bank has provided a sincere letter of apology explaining the circumstances. This letter is being forwarded for distribution to only those Remarketers affected.
The Cachet Operations team worked diligently from the early morning hours and throughout the day with our Bank to determine what could be done to remedy the situation for each and every client. Over Cachet’s twelve (12) year history, our record has been solid. We realize this is a stressful time for the Remarketers and Clients who were affected. Rest assured that our staff is dedicated to finding a solution to prevent issues like this from occurring in the future.
We sincerely apologize for the inconvenience to our Remarketers as well as their clients and employees.
If you have an questions or concerns regarding a missed transaction on September 14, 2012, please contact Cachet at (626) 578-9400 or via email at cachet@cachetbanq.com
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