Did you know we just improved our Business Cash Advance program? You can now get up to $500,000 (up from $250,000) that you can use for anything your business needs – from getting new inventory to hiring new employees and so much more. And we’ve also increased the time period you may have to pay back the advance (depending on credit and other factors). And finally, we’ve dropped the factor rates too!
Contact us to find out how you can get setup and start growing your business today!
First, CCNJ would like to wish everyone a happy and meaningful Memorial Day. Let us not forget the purpose of the holiday – to remember those who made the ultimate sacrifice in preserving our liberties to do as we please. So thank you to all our troops – past, present and future who continue to keep us safe and preserve our way of life.
Second, in observance of the Memorial Day holiday, CCNJ, along with our bank, the Federal Reserve, and UPS, will have special holiday hours and closures. Below, you will find the banking and shipping schedule, as well as CCNJ holiday hours:
Because of the banking holiday, merchants will not receive debits or credits to their accounts on Monday, May 27th either. They too will be back to normal on Tuesday, May 28th.
If you have any questions about this announcement, please contact your Agent Relations Specialist or the Agent Relations Team at 201.645.0132.
Visa and MasterCard have recently reached a proposed settlement agreement that may allow you to receive a portion of the $7.25 billion total proposed settlement amount.
There are two parts to the proposed settlement, a $6.05 billion Cash Fund and a $1.2 billion Interchange Fund.
Settlement Cash Fund
Merchants who accepted Visa or MasterCard between January 1, 2004 and November 28, 2012 are eligible to receive a portion of the Cash Fund based on the volume that was processed in this timeframe. Merchants who are eligible to receive money from this fund will be able to collect it once the settlement is approved during the Fairness Hearing, scheduled for Sept. 12, 2013, in New York.
Certain merchants may also be eligible to receive money from the Interchange Fund. The amount that each merchant will be awarded is calculated based on transaction volume during an eight month period, with that period starting no later than July 29th, 2013.
Merchants must opt in or opt out
In order to collect money from this settlement, you must file a valid claim. To qualify; you must opt in at https://www.paymentcardsettlement.com. If you decide not to take part you MUST officially opt out by filing the correct paperwork, which can be found here. Please note, if you do not opt out you waive your right to sue the card brands over past issues.
If the court approves the settlement, and you have not excluded yourself from the Cash Settlement Class, you will receive a claim form in the mail or by email. You may also get a claim form at: www.PaymentCardSettlement.com, or call: 1-800-625-6440.
In addition to the monetary rewards for merchants, the proposed settlement will also require Visa and MasterCard to change some rules for merchants who accept their cards, including allowing merchants to do the following:
For additional details on the proposed settlement please select one of the links below:
If you have further questions about the proposed settlement, please contact your representative.