What Can Elio Use The Refundable For?

[L0gic]

In what ways can Elio use the refundable money?

If I was to get an additional refundable reservation, does that help Elio? What if many of us did this?

If they go bankrupt, do refundable reservations still get refunded?

 

[wizard of ahs]

Refundable reservation money can be used by EM for absolutely nothing!
It's held in an escrow account in case they go belly up, those reservations can be refunded.

 

[FC]

Unless you want or need a second Elio, buying stock the next time they are selling stock would help them more.

 

[Coss]

<trim>........
If they go bankrupt, do refundable reservations still get refunded?

If you do a Want In reservation, that is the refundable deposit; and as Wizard said, it is held in an Escrow account. EM cannot earn the interest on that account; the interest is converted to points that you can spend with approved vendors and only on business related items and services.
The All In reservations is non-refundable, and your deposit is a fond memory that went along with them, it was used anyway they needed it.

I worked in Title & Escrow for 18 years, and the Escrow accounts all work the same.

 

[L0gic]

Thanks all.

That sucks, hoped to have a refundable way to slip a few more dollars their way...

Surprised they can't at least use the interest.... That sucks...

 

[Coss]

Thanks all.

That sucks, hoped to have a refundable way to slip a few more dollars their way...

Surprised they can't at least use the interest.... That sucks...

It's illegal; think about the Title companies when you buy a house, they are sitting on $100's of thousands in escrow; so they work a deal with Banks for these hi-return short term escrow accounts, then the points they earn buy things like office supplies (paper (big places go through 10 to 15 cases a month), toner, TP, Water, pens (including the ones with printing on them) and all these little things that add up in a hurry. Not having to pay for that stuff really helps the bottom line.

 

[L0gic]

Is this how they fund the t-shirts? Maybe they should send us branded pens to leave around in strategic places?

 

[Coss]

Is this how they fund the t-shirts? Maybe they should send us branded pens to leave around in strategic places?

Doubtful; but there's no telling what they do with the interest.

 

[RUCRAYZE]

are the Banks under the same restrictions with the "float"?

 

[Coss]

are the Banks under the same restrictions with the "float"?

The "Float"???
What do you mean be the "Float"???
The non-refundable deposits and non-refundable, period, end of story, nada, you ain't gitten nuthin back!!
And that is written into the rules of the deposit. Period, end of subject, done.

Read the small print of the contract that you signed, you cannot get it back, the lawyers wrote that very well, and it is refundable? What refund? You signed the agreement! Right? And I've had a lawyer look at it, it is written very well, and very non-refundable!
So sorry my friend, once you bought in, your stuck.