Bank of America and PartnerShip Announce New Rates

Two companies participating in ABA's affinity program have announced important new updates for ABA member booksellers. According to PartnerShip, which offers a money-saving freight program exclusively for members of the American Booksellers Association, rates for shipping by different carriers have increased an average of 5.75 percent. On the bright side, Bank of America Merchant Services is decreasing its rates for credit card and check card transactions, effective June 1.

Rate Decreases for Credit Card and Check Card Transactions

Effective June 1, Bank of America Merchant Services will decrease its rates for credit card and check card transactions according to a tiered system, with rates decreasing as volume increases. The new rates start at 1.95 percent plus a six-cent per item fee for Visa and MasterCard swipe transactions, and check card rates begin at 1.62 percent plus a six-cent per item fee. For more information, contact Paula Deutz at (860) 282-4899 or [email protected].

Rate Increases for Freight Shipments

PartnerShip reported the following rate increases all effective late April or May 2005, depending on the carrier: Yellow Transportation increased its rates 5.95 percent; Roadway Express 5.80 percent; Overnite Transportation 5.60 percent, FedEx Freight 5.60 percent; and ABF Freight System 5.80 percent. (For more information, click here.) Fuel surcharges, which are based on an industry index and are not part of the rate increase, will either increase or decrease with the price of fuel.

ABA members who are not currently taking advantage of discounts available are encouraged to call PartnerShip at (800) 599-2902 or to visit www.mypartnership.com/07aba/rates.asp for more information.