Government to Ban Fees for Using Credit Cards

malcolmffc

callum9999 wrote: »

I'm more happy about the abolition of foreign exchange fees on cards that was announced last week according to the article. Don't know how I missed that one!

Hate to rain on your parade, but foreign exchange fees aren't being abolished - what's changing is that fees can no longer be hidden by the bank using a poor exchange rate. Instead the will be itemised on the statement.

baby_frogmella

At present, firms are not allowed to put surcharges on debit card payments.

http://www.dailymail.co.uk/news/article-2077770/End-internet-shopping-rip-Credit-card-fee-buying-flights-holidays-goods-axed-saving-customers-300m.html

Typical Daily Mail bull$hit. Companies (especially airlines) do charge extra for paying by standard debit cards; its only some types of debit cards (eg Electron) where the fees are waived.

jonnyd281

Pont wrote: »

Yes - my understanding too. As far as I'm aware, the cost to a company for credit card transactions is in the region of 20p. Therefore when Ryanair (and all the others) are adding £5 - £6 as a credit card charge this is totally unjustifiable.

They said on the BBC News (and it must be true it's on the BBC lol) that they are charged about 20 pence for a debit card and 1 to 2 per cent for a credit card transaction.

McKneff

jonnyd281 wrote: »

They said on the BBC News (and it must be true it's on the BBC lol) that they are charged about 20 pence for a debit card and 1 to 2 per cent for a credit card transaction.

Yes, thats what I heard too, but I knew that already.

The DVLA should be the first to do it, practice what you preach etc.

dach

if the charge by the credit card company to the dvla is 2% and it costs me £180 to tax my car then paying £2.50 is cheaper than paying the full cost of the charge or am I missing something??
or should we ask the people who pay upfront by debit card or cash to subsidise the ones who have 6 weeks free credit

dzug1

dach wrote: »

if the charge by the credit card company to the dvla is 2% and it costs me £180 to tax my car then paying £2.50 is cheaper than paying the full cost of the charge or am I missing something??
or should we ask the people who pay upfront by debit card or cash to subsidise the ones who have 6 weeks free credit

No you're not missing anything - you've just thought it through rather than giving a knee jerk reaction

callum9999

malcolmffc wrote: »

Hate to rain on your parade, but foreign exchange fees aren't being abolished - what's changing is that fees can no longer be hidden by the bank using a poor exchange rate. Instead the will be itemised on the statement.

Ah, I thought it was weird that it wasn't mentioned on here!

SCO

Pont wrote: »

Therefore when Ryanair (and all the others) are adding £5 - £6 as a credit card charge this is totally unjustifiable.

£12.95 for easyjet.

never thought ryanair would miss out on that extra money.

Pont

SCO wrote: »

£12.95 for easyjet.

never thought ryanair would miss out on that extra money.

Good grief! £12.95 is more than the flight itself in some cases!

grizzly1911

Pont wrote: »

Good grief! £12.95 is more than the flight itself in some cases!

Well it isn't really because it is part of the cost of the flight that they missed off the advert to make them seem cheaper than leprechaun air.