Visa card for grants accounting??
dbrown at bruxton.com
Sat Jan 11 17:41:06 EST 1997
Susan Jane Hogarth wrote:
> The Great American Gene Company wrote:
> > Unfortunately, VISA/MASTERCARD will cost us about 5%.
> Why not add a 5% surcharge for credit card orders? Isn't that what is
> commonly done?
The fee must vary. Our bank arranged a far lower surcharge for us. We
were surprised by how low it was, since we had several times heard
stories similar to that of the Great American Gene Company. In our case,
we absorb the surcharge, since it lowers the cost of collecting.
> > In addition, we have learned that VISA is placing
> > a positive prohibition on all electronic transactions. We have been
> > given an affadavit, which we must sign, stating that we will conduct NO
> > VISA or MASTERCARD related business by either email or by through the
> > web.
> I agree with you that this is astonishingly stupid.
Interestingly, we were not asked to sign such an affidavit. Such an
affidavit does seem short-sighted.
We do not accept email or Web based orders in general. We are still
responsible for collection, even if paid through a credit card. The
person from the credit card company who set things up for us repeated
this point four or five times.
If a card holder disputes a charge, it is up to us to collect. The bank
takes back the money that they gave us, and walks away. We like to have
paper (or FAX) we can trace back through a purchasing department. We do
not want to be worse off than the situation that would exist if we had a
normal purchase order.
Bruxton Corporation, Seattle
Phone: (206) 782-8862
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