Too Legit to Quit?

They claim to have been in business for seven years in California. However, I searched the California corporation records and didn't find anything there or at the Better Business Bureau, either. The Web site domain name was just registered this year. All this makes me suspicious. I have a really big account I could give them, but don't want to do anything until I know the company is legit. If they are crooks, I would be setting myself up for a really big lawsuit if I send this deal to them.

Your help would be appreciated.

Tazman

Dear Tazman,

ACH companies don't necessarily have to register with the Fed, unless they actually process through the Fed. Typically, these companies have arrangements with banks that allow them access to the ACH; these banks may sponsor the companies into their local ACH associations.

We believe NACHA maintains a list of all non-bank ACH services companies. We suggest that you begin your research by contacting NACHA. You should also ask them for a bank reference and you should check the company out through NACHA.

Hope this helps.

Good Selling!

Questions from the Press

My name is James Gallagher. I am a reporter with The Augusta Chronicle in Augusta, Ga.

A co-worker of mine recently brought to my attention a new policy at Wal-Mart where they will no longer accept MasterCard signature debit cards. Upon further investigation, I've learned that Wal-Mart successfully sued MasterCard and Visa for their requirement that stores accepting their logos accept all versions of their cards.

I'm sure you are familiar with this legislation. I am looking to learn the ramifications of this decision. Melissa Berryhill, a Wal-Mart spokeswoman, provided me with the company's press release regarding their policy change, and it suggests customers affected by this should just use checks.

Is this a major blow to the credit card industry? Does this mean consumers should expect more retailers to limit the type of cards they accept? Technology brought us from checks to credits cards; is this a technological step backward? How do you expect people will make their purchases, without cash, in the future? These are some of the questions I have about this new policy. Any assistance you can provide in helping me understand this better would be greatly appreciated.

Thanks,

James Gallagher

Business Reporter, The Augusta Chronicle

Via e-mail

James:

We have written extensively on this subject since the suit was originally filed. Please use "Fast Finder" on our Web site. Searching Green Sheet specifically for instances of MasterCard + Wal-Mart produces the following results: Found 1376 total matches in 2 seconds within 108 pages.

I'm copying Patti Murphy, Contributing Editor, on this message. Patti can speak with you on behalf of The Green Sheet with expertise on this matter. You can reach Patti via email: patti@greensheet.com

Good Selling!