Credit and debit card surcharges are to be banned
 

http://www.bbc.co.uk/news/business-40648641

About time - ripoff charges :mad:

Re: Credit and debit card surcharges are to be banned
 

Good news.

Re: Credit and debit card surcharges are to be banned
 

does this mean when i pay my car tax online i won't get extra ££s added for buying it 6 monthly ?

Re: Credit and debit card surcharges are to be banned
 

I shouldn't think so as that's a charge for being allowed to spread your payments over more than one payment.

Re: Credit and debit card surcharges are to be banned
 

but there's no charge for monthly DD [ i think i'm right ] :shrug:

Re: Credit and debit card surcharges are to be banned
 

Think it might fall into a loophole where it's a discount for Direct Debit payments. It's different to a credit card surcharge I think.

Re: Credit and debit card surcharges are to be banned
 

i always pay on my debit card and it always carries a penalty

so does my water bill always a few quid extra for using debit card

Re: Credit and debit card surcharges are to be banned
 

The original EU rules apply to Visa and Mastercard, the UK are extending this to AmEx and Paypal.

My dad worked on Chip and Pin for Visa and he said that while it's true that the card companies do charge businesses for accepting them the cost is still lower than banking cash (this was some time back when C&P first arrived). The existing rules allow companies to charge more for cards but the charge must be commensurate with their costs to accept. This hasn't been followed so now no charge at all is allowed.

But, will businesses now add the charge to the price which is allowed as it applies to all customers, then maybe offer a discount for certain purchases? This is probably covered but how can they watch that for a small business like a market trader that may offer you a deal, no receipt if cash so no record.

Re: Credit and debit card surcharges are to be banned
 

just seen on BBC news DVLA included in ban

Re: Credit and debit card surcharges are to be banned
 

As far as I know it's going to be any online transaction, though not sure ??
Apparently the average charge the card companies levy on businesses using their systems is 0.6% so a lot of businesses have been raking it in for years even though they're "supposed" to only charge what it costs them.

Re: Credit and debit card surcharges are to be banned
 

Businesses will just charge another way. Nobody's going to win. At least it'll be a bit more transparent.

Re: Credit and debit card surcharges are to be banned
 

Glad to see that the greedy airlines are included. Mind you, I'm sure they'll soon claw it back - maybe by charging for meals...

Re: Credit and debit card surcharges are to be banned
 

it said on the news the average cost is 5p per transaction and is cheaper than clearing cash yet some charge several pounds ,the DVLA charge £2.50 per transaction ,they must be coining in millions .

Re: Credit and debit card surcharges are to be banned
 

May be true for big business that need safes, security vans etc but not true for small businesses. Im a self employed carpet fitter i currently pay 2.75% on ALL card transactions (both credit and debit) and so i charge that fee to the custmer (technically i still loose out there as i have to pay 2.75% on the 2.75%) and it takes 10-14 days before i get the money in my bank account. my bank charges me NOTHING to receiving BACS payments or paying cash in and the money is there in seconds.

As a result of this change i will no longer be accepting card payments at all. So in my case the consumer looses out, they have the convinance of card payment (and paying for that convinance) or free more incoveniant payment methods next year they will only have the inconviance.

Re: Credit and debit card surcharges are to be banned
 

Won't make any difference to the majority of us prices will increase to cover it and we will be no better off.