Hi,
I do not see the change to GE Money Bank as a reason for alarm. As far
as I can tell schools still may use purchase orders and by following the
same accounts payable process currently in effect in our district
(paying bills in full as soon as shipment is received)we will not incur
any fees as long as we pay within 30 days. Please correct me if I am
wrong. Below I have pasted 3 paragraphs from Amazon's site on this
matter.
Doug Bancks
Media Specialist
Fairmont Jr/Sr High
Fairmont, MN
dbancks@fairmont.k12.mn.us
From Amazon's site:
We have two types of credit line products for corporate customers, the
Revolving Credit Line and the Pay-In-Full Credit Line. Please read the
descriptions below to select the right type of product for your
organization. When you are ready, please select which type of credit
line you want in order to start the application process.
Revolving Credit Line
Designed for small to medium sized businesses that need convenient
credit lines and that require the flexibility to make minimum monthly
payments. Balances not paid in full each month will be carried forward
and will accrue finance charges. Billing statements are itemized with
product level detail to track purchasing and accounts may be managed
online 24 hours a day, 7 days a week.
Pay-In-Full Credit Line
Designed for medium to larger sized companies, schools, libraries, and
government organizations that typically require higher credit lines to
meet their purchasing needs. Balances are required to be paid in full
during each cycle. For example, statements processed on the 10th of the
month, will carry balances due in full by the 5th of the following
month. Pay in Full provides invoice-level billing and ability to make
payment at the invoice and purchase order level. Account Managers of
these accounts will have 24-hour access to account information to track
such information as payments, copies of invoices, credits, and statement
balances.
-----Original Message-----
From: School Library Media & Network Communications
[mailto:LM_NET@LISTSERV.SYR.EDU] On Behalf Of Tony L. Pope
Sent: Monday, November 12, 2007 10:43 PM
To: LM_NET@LISTSERV.SYR.EDU
Subject: [LM_NET] Amazon.com changes & corporate accts
We've just been notified by our central office that some changes have
come to
Amazon.com that are going to make it impossible for us to order
books/materials from the using school funds. Here's what I rec'd:
==============
As of October 31st, Amazon.com has changed their credit company. Their
new
company, GE Money Bank offers lines of credit which incur finance
charges.
We are not permitted to use FCBOE funds to pay finance charges. I have
spoken
with an account representative from GE Money Bank this morning and they
are
not willing to offer our school system a line of credit without finance
charges.
============
Has anyone else heard about this? If so, how are your school systems
handling this? It's not going to be that big of an issue, but I have
used Amazon to
order a few materials I couldn't find anywhere else. In the past we
have had
a corporate account and were able to call in orders and be billed to our
school system account I believe.
Thanks,
Tony Pope
Library Media Specialist
McHenry Primary School
100 McHenry Dr.
Rome, GA 30161
_Pope1966@aol.com_ (mailto:Pope1966@aol.com)
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