The Green Sheet Online Edition
September 12, 2011 • Issue 11:09:01
Discover's support hits home
Ken Musante is well known in the industry as President of Eureka Payments LLC, a frequent presenter at industry conferences and a contributing writer for this publication. It is less widely known that he is also a Special Olympics softball coach.
In this latter role, he recently received assistance from Discover Financial Services and sent us the following note in recognition of the company's generosity:
I would like to thank Dan Kniola and Discover for their support of Special Olympics, Humboldt County. Special Olympics of Humboldt County relies on donations and volunteers to provide services and programs to its athletes. Dan worked with Discover to donate shirts to each of our athletes so that they had their very own identifying uniform.
To assist the athletes in exercising between practices, Discover also donated pedometers to measure their distance. Finally, they also donated water bottles for game day hydration.
Over 50 special needs athletes benefitted from these donations. When Dan made this donation he recognized that these athletes were not his target market, yet he and Discover made the commitment anyway.
Special Olympians are an inspiring group. Special Olympics provides our athletes a forum to exercise and an opportunity to interact in a positive manner. Thank you to Dan and Discover for making it possible.
If you'd like more information about volunteering for the Special Olympics, you can reach Ken at email@example.com or 707-476-0573.
Appreciation and suggestion
Thank you for doing what you do with The Green Sheet.
With many readers likely being able to deduct their mileage expenses, may I suggest you include a small blurb now and then of IRS mileage deductions as they change? For example, I think it was 50 cents a mile from Jan. 1 to June 30, 2011. But it is now 55.5 cents a mile.
I thought this idea may be helpful to your readers and add value to your publication - one that I do so appreciate.
Instill Payments Inc.
Thank you for your vote of confidence and idea that could be of use to our readers. Several years ago, Joel and Rachael Rydbeck contributed a series of articles containing advice about small-business ownership. The articles covered setting up an office, purchasing a business computer, call center operation, web conferencing and much more. It may be time for a new series on small-business basics, including keeping track of business deductions. Any volunteers?
Looking for EFT partner in Canada
Do you know of any good firms that do EFT [electronic funds transfer] in Canada? The firms that I have spoken to are either charlatans, pretenders or fee gougers.
Matrix Payment Systems
We referred your request to Brian Crozier of Toronto-based UseMyServices Inc., who said without knowing your reason for moving money into or out of accounts, he cannot recommend any firms to work with. However, he provided the following information:
If the EFT is considered low risk (insurance, leasing, utilities), the banks can deliver this service to you for a reasonable fee. If your service is considered high risk for chargebacks, the banks will decline, and you will need to go to the secondary market [where] rates will be much higher and subject to large cash deposits to offset the liability and risk.
Consumers have a lot of protection against companies pulling money from their accounts. They can charge it back, and the bank has the liability. Pulling money from checking accounts and sending money to checking accounts both have their risks. Accepting payments through online banking is another option to consider.
Thank you, Bill and Brian, for this question and answer.
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