Excessive card charges are due to end?

Sparhawke

So realistically this is never going to happen, a new charge will obviously come out in its place but what do you think it may be?

Is it a good thing that this is coming when experience tells us we will be paying for it dearly in other ways?

http://news.sky.com/story/979469/excessive-card-surcharges-set-to-end

jonesMUFCforever

The airlines are already starting to charge administration fees - just one way around this.
The only way to stop it is not to buy anything from companies that charge but is it likely enough people would do this to have it make any effect?

Anthorn

We already know what the new charge will be because it's already in the pipeline. Retailers won't be charged for transactions and all the charges will be on the user: https://dontdiscard.co.uk/

Plxply

Because retailers do not receive a bill at the end of the month for accepting cash, they believe that accepting cash is free. But it is easy to forget how much it costs to count, secure and transport cash, and to protect employees holding lots of cash against robbery.

I do notice this a lot, it's rather irritating when someone implies by paying by card is costing the retailer whereas cash incurs no charges at all.

jonesMUFCforever

Plxply wrote: »

I do notice this a lot, it's rather irritating when someone implies by paying by card is costing the retailer whereas cash incurs no charges at all.

This is the reason supermarkets offer fee free cashback at the tills - it reduces the cash held at each shop.

InsideInsurance

Plxply wrote: »

I do notice this a lot, it's rather irritating when someone implies by paying by card is costing the retailer whereas cash incurs no charges at all.

Cash costs retailers a lot, hence why you get asked about cashback every time you pay by debit card in supermarkets.

Cashing up takes massively longer for which you have staff costs, banking takes longer for which you have staff costs or have to pay for security company visits for larger companies and having cash on site plus cash handling drives up your insurance costs.

Ok, cards have a more direct charge but lets be realistic, for a large company in a low risk area you are talking less than 10p for debit cards and less than 1% for credit cards.

Plxply

Sorry my post wasn't very clear I'm aware cash costs a large amount to hold and handle, I was just implying that some people seem to think that cash incurs no costs and you're giving money to the big "evil" Visa and MasterCard but my wording was off.