Will new rules put an end to credit card surcharges?

New guidelines on credit card surcharges will be announced this week.

Credit card after being used in cafe

For years consumers have been pushing to end excessive fees for using credit cards and with the Reserve Bank of Australia (RBA) about to announce new caps, will we really get what we wanted?

This week the RBA Payments System Board will reveal the new standard for credit card surcharges. While the excessive $8.50 fee for booking flights is expected to go, consumer groups are concerned that other retailers and service providers may see this as a green light to start charging when they haven’t previously.

In a move to help consumers avoid being charged a fee, the Surcharge Free campaign, which has the backing of American Express, is calling on businesses to play fair. By not imposing a credit card surcharge and displaying a sign to the effect, business can give themselves a point of difference to others who do and in turn attract customers who simply refuse to pay a premium for the convenience of paying by card.

Of course, there will be businesses that choose to put a lower limit on spend before you can use your card and this is to be expected.

So, while we wait to find out what fees the RBA considers acceptable, you can find out more about what businesses can do to secure your custom at SurchargeFree.com.au

Do you know businesses that charge to use credit cards? If so, does this stop you from either using their services or do you simply pay in cash?

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    COMMENTS

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    Golden Oldie
    24th May 2016
    11:14am
    Funny that this is backed by American Express. Every time you use American Express the retailers charge you to use it as the charge made to the retailer is higher from AE than it is from any of the other cards, except maybe Diners. I used to have an American Express Card, but found that some retailers won't even accept it.
    Bow Maker
    24th May 2016
    8:56pm
    I ran a business for thirty years and in that time the cost of the credit card facility I had was considered as cost to my business and therefor a tax deduction. No business should be
    charging the consumer to use a credit card.