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EXHIBIT 99.3
LEHMAN BROTHERS INC.
Offer to exchange
shares of common stock of eFunds Corporation
for each share of common stock
of
DELUXE CORPORATION,
up to a maximum of shares of Deluxe Corporation
THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW
YORK CITY TIME, ON , 2000, UNLESS THE EXCHANGE OFFER IS EXTENDED.
, 2000
To Brokers, Dealers, Commercial Banks,
Trust Companies and Other Nominees:
We refer to the enclosed offering circular-prospectus dated , 2000 of Deluxe
Corporation, a Minnesota corporation ("Deluxe"), and the letter of transmittal,
which together constitute Deluxe's offer (the "exchange offer") to exchange
shares of common stock, par value $0.01 per share, (the "eFunds shares"), of
eFunds Corporation, a Delaware corporation ("eFunds"), for each share of common
stock, par value $1.00 per share (the "Deluxe shares"), of Deluxe that are
validly tendered and not properly withdrawn by the expiration date of the
exchange offer, upon the terms and subject to the conditions set forth in the
exchange offer. See "Summary," "The Exchange Offer" and "Terms of the Exchange
Offer" in the offering circular-prospectus, up to a maximum of Deluxe shares
validly tendered and not properly withdrawn. Capitalized terms used herein and
not otherwise explained have the same meanings as in the offering circular-
prospectus.
We have been appointed by Deluxe to act as the dealer manager in connection
with the exchange offer. Your attention is directed to the offering circular-
prospectus, which we urge you to read carefully in its entirety.
The exchange offer and withdrawal rights will expire at 5:00 p.m., New York
City time, on , 2000, unless extended in accordance with applicable law and the
terms of the exchange offer, in which event the term "expiration date" shall
mean the latest time and date to which the exchange offer, as extended, shall
expire. The maximum number of Deluxe shares which will be accepted for exchange
will be Deluxe shares, which, when exchanged, equals 40,000,000 eFunds shares.
If more than such maximum number of Deluxe shares are tendered, the exchange
offer will be oversubscribed, and Deluxe shares validly tendered and not
properly withdrawn will be subject to proration in accordance with the terms
set forth in the offering circular-prospectus under "Terms of the Exchange
Offer-Terms of the Exchange Offer," except for certain odd-lot tenders as
described in the same section of the offering circular-prospectus.
Deluxe will pay a solicitation fee of $ per share, up to a maximum of 1,000
shares per tendering shareholder, for each Deluxe share tendered and accepted
for exchange pursuant to the exchange offer, if the soliciting dealer has
affirmatively solicited the tender and Box #9 of the letter of transmittal is
checked and completed giving details of the name of (i) any broker or dealer in
securities which is a member of any national securities exchange in the United
States or of the National Association of Securities Dealers, Inc. or (ii) any
bank or trust company located in the United States. However, no solicitation
fee shall be payable (i) in connection with a tender of Deluxe shares by a
shareholder (x) tendering more than 1,000 shares of Deluxe
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shares or (y) tendering from a country outside of the United States or (ii) to
the dealer manager. In addition, soliciting dealers are not entitled to a fee
with respect to Deluxe shares beneficially owned by such soliciting dealer or
with respect to any shares that are registered in their name, unless they hold
such shares as nominee and tender them for the benefit of beneficial holders
identified in the letter of transmittal. No such fee shall be payable to a
soliciting dealer if such soliciting dealer is required for any reason to
transfer the amount of such fee to a tendering holder (other than itself). No
broker, dealer, bank, trust company or fiduciary shall be deemed to be the
agent of Deluxe, eFunds, the Exchange Agent, the information agent or the
dealer manager for purposes of the exchange offer.
In order for a soliciting dealer to receive a solicitation fee with respect
to the tender of Deluxe shares, the Exchange Agent must have received a
properly completed and duly executed letter of transmittal (including a
completed box entitled "Notice of Solicited Tenders" (Box #9)).
The acceptance of compensation by the soliciting dealer listed in "Notice of
Solicited Tenders" (Box #9) of the letter of transmittal will constitute a
representation by such soliciting dealer that: (i) it has complied with the
applicable requirements of the Securities Exchange Act of 1934, as amended, and
the applicable rules and regulations thereunder, in connection with such
solicitation; (ii) it is entitled to such compensation for such solicitation
under the terms and conditions of the offering circular-prospectus and the
letter of transmittal, and (iii) in soliciting tenders of Deluxe shares, it has
used no soliciting materials other than those furnished by Deluxe.
For your information and for forwarding to your clients for whom you hold
Deluxe shares registered in your name or in the name of your nominee or who
hold Deluxe shares registered in their own names, we are enclosing the
following documents:
1. The offering circular-prospectus;
2. The letter of transmittal;
3. A letter that may be sent to your clients for whose account you hold
Deluxe shares registered in your name or the name of your nominee, with space
provided for obtaining such clients' instructions with regard to the exchange
offer;
4. A notice of guaranteed delivery to be used to accept the exchange offer
if the certificates for Deluxe shares are not immediately available, the
procedure for book-entry transfer cannot be completed on a timely basis or time
will not permit all required documents to reach Wells Fargo Bank Minnesota,
N.A., the exchange agent, prior to the expiration date of the exchange offer;
and
5. The Guidelines for Certification of Taxpayer Identification Number on
Substitute Form W-9, for your use and for the information of your clients;
6. A return envelope addressed to the exchange agent.
Deluxe will pay all stock transfer taxes, if any, payable on the transfer to
it of Deluxe shares and the transfer to tendering shareholders of eFunds shares
pursuant to the exchange offer, except as otherwise provided in Instruction 5
of the letter of transmittal.
YOUR PROMPT ACTION IS REQUESTED. WE URGE YOU TO CONTACT YOUR CLIENTS AS
PROMPTLY AS POSSIBLE.
THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK
CITY TIME, ON , 2000, UNLESS EXTENDED BY DELUXE AS PROVIDED IN THE OFFERING
CIRCULAR-PROSPECTUS.
Deluxe will, upon request, reimburse you for reasonable and necessary costs
and expenses incurred by you in forwarding any of the enclosed materials to
your customers.
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To participate in the exchange offer, certificate(s) for Deluxe shares or a
confirmation of any book-entry transfer into the Exchange Agent's account at
the book-entry transfer facility of Deluxe shares tendered electronically, as
well as a properly completed and duly executed letter of transmittal (or
manually signed facsimile thereof) and any required signature guarantees, or an
agent's message in connection with a book-entry transfer of shares, and any
other documents required by the letter of transmittal must be received by the
Exchange Agent as indicated in the letter of transmittal and the offering
circular-prospectus prior to the expiration date of the exchange offer.
Holders whose stock certificate(s) representing Deluxe shares are not
immediately available or who cannot complete the procedure for delivery by
book-entry transfer on a timely basis or who cannot deliver their
certificate(s) and all other required documents to the Exchange Agent prior to
the expiration date may tender their Deluxe shares pursuant to the guaranteed
delivery procedure set forth in the offering circular-prospectus under "Terms
of the Exchange Offer--Guaranteed Delivery Procedure."
Any inquiries you may have with respect to the exchange offer should be
addressed to the information agent or the dealer manager at their respective
addresses and telephone numbers set forth on the back cover of the offering
circular-prospectus. Additional copies of the enclosed material may also be
obtained from the information agent, Morrow & Co., Inc, telephone 1-800-566-
9601 (toll-free) or the undersigned, telephone 1-800-666-2388 (toll-free).
Very truly yours,
Lehman Brothers Inc.
NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU
OR ANY OTHER PERSON AS AN AGENT OF DELUXE, EFUNDS, THE EXCHANGE AGENT, THE
INFORMATION AGENT, THE DEALER MANAGER, ANY SOLICITING DEALERS, OR ANY AFFILIATE
OF ANY OF THE FOREGOING, OR AUTHORIZE YOU OR ANY OTHER PERSON TO USE ANY
DOCUMENT OR MAKE ANY STATEMENT ON BEHALF OF ANY OF THEM IN CONNECTION WITH THE
EXCHANGE OFFER, OTHER THAN THE ENCLOSED DOCUMENTS AND THE STATEMENTS CONTAINED
THEREIN.
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