May 13
22
Get up to $500,000 in 72 hours!
Get up to $500,000 in as little as 72 hours!
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!
May 13
21
Memorial Day 2013
Thank you!
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:
- Banking: The Federal Reserve and our bank will be closed on Monday, May 27th. All ACH debits and credits processed on Friday, May 24th will be reflected in your account on Tuesday, May 28th. We will process Monday, May 27th activity on Tuesday, May 28th (with those debits and credits showing in your bank account on Wednesday, May 29th) and we will be back to normal on Tuesday, May 28th.
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.
- Shipping: UPS and the United States Postal Service will also be observing the Memorial Day holiday. On Monday, May 27th, no deliveries or pickups will be made. All shipping times will have an additional one day in transit. For example, a Next Day Air package shipped on Friday, May 24th will be delivered on Tuesday, May 28th.
- CCNJ Hours: Credit Cards, NJ will be closed on Monday, May 27th. Tech Support at North American Bankcard’s working hours for May 27th will be 7am – 9pm EST. We will resume normal business hours 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 & MasterCard have reached a settlement and you have limited time to decide how to proceed.
Photo credit: Reuters
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.
Interchange Fund
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.
Important Dates
- May 28th, 2013: The exclusion deadline for merchants to opt out if they choose not to take part.
- May 28th, 2013: The objection deadline for merchants who wish to object to any portion of the proposed settlement.
- September 12th, 2013: The Fairness Hearing, held in New York, to approve the final settlement, establish the claim form and determine the deadline for filing a claim. We will follow-up with you you following the hearing to provide updates so that you may inform your merchants.
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:
- Charge customers a surcharge fee if they pay with Visa or MasterCard credit cards
- Offer discounts to customers who pay with payment forms less expensive than Visa or MasterCard credit or debit cards
- Choose to accept or decline Visa or MasterCard at multiple locations if they operate under more than one “trade name” or “banner.” However, if merchants have more than one location under the same “trade name” or “banner” they must accept or decline Visa or MasterCard at all of them.
For additional details on the proposed settlement please select one of the links below:
View the long-form notice
View the Frequently Asked Questions page
View the Documents page including the Class Settlement Agreement and other documents
If you have further questions about the proposed settlement, please contact your representative.
Thank you.
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