|RESPONDING TO SANDY Card companies seek to help|
All the major card companies announced measures to help members affected by the horrific storm that battered the Northeast. Here's a rundown:
MasterCard responded to Hurricane Sandy with a statement, excerpted here:
"We have witnessed the massive and widespread devastation of Hurricane Sandy. Story after story has emerged of destruction, loss and true heroism. It's safe to say that based on the size of this storm, the devastation left in its path has impacted someone that each of us knows-even more so for those near our Purchase, N.Y. headquarters. It is a storm we will never forget. ...
This week's challenges provide us an opportunity to come together as an organization to help and support the communities where we live and work. To help with relief efforts, MasterCard has donated $300,000 to the American Red Cross. We are also double-matching contributions made by our employees to a number of organizations that are actively providing disaster relief.
In addition, we will waive interchange for U.S. transactions/donations made to the list of charities below from Nov. 1 - 30. We also will donate any revenue that we realize from these transactions to the rebuilding efforts.
American Express will rebate the merchant discount rate to the following nonprofit organizations for charitable contributions for hurricane relief that card members make directly using their American Express Cards:
The rebate, which will be given directly to the charities listed above, is effective retroactively from Monday, Oct. 29 through Dec. 31, 2012.
Cardmembers can also use their Membership Rewards points for charitable contributions to these organizations as well as others.
In addition, American Express will donate $1 million to the American Red Cross and other organizations involved in Hurricane relief efforts.
Visa Inc. announced a comprehensive commitment to help those impacted by Hurricane Sandy.
To support the immediate relief and recovery efforts, Visa is contributing $300,000 to the American Red Cross. Visa also will match employee donations to disaster relief efforts on a two-to-one basis through the end of November.
As part of Visa's response, interchange fees on domestic Visa transactions will be waived through the end of November for a select group of U.S.-based charities providing support to Hurricane Sandy relief efforts. Eligible charities include:
Additionally, Visa will donate all fees from these charitable contributions to the American Red Cross.
Discover-Hurricane Sandy has created an urgent need for assistance. The American Red Cross is responding and working on disaster efforts. You can make a donation to the American Red Cross and support the disaster relief efforts to help those affected.
To assist with the efforts, you may:
Donate your Cashback Bonus to American Red Cross. Redemptions starting at $20*.
Make a donation with your Discover Card directly to the American Red Cross or other responding organizations.
Read about the American Red Cross relief efforts or look for volunteer opportunities with them.
*Discover is matching Cashback Bonus donations to the American Red Cross dollar for dollar up to $500,000. Your donation will help further the efforts of the American Red Cross to provide relief to those affected by Hurricane Sandy.
[This article was posted on November 14, 2012, on the website of ABA Banking Journal, www.ababj.com.]
| TechTopics Plus