Credit and debit card surcharges are to be banned
http://www.bbc.co.uk/news/business-40648641
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Re: Credit and debit card surcharges are to be banned
Good news.
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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 ?
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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.
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so does my water bill always a few quid extra for using debit card |
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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. |
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just seen on BBC news DVLA included in ban
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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. |
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Businesses will just charge another way. Nobody's going to win. At least it'll be a bit more transparent.
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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...
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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. |
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Won't make any difference to the majority of us prices will increase to cover it and we will be no better off.
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