MSE News: Credit and debit card fee clampdown begins

Former_MSE_Helen

"Firms will no longer be able to charge excessive credit and debit card fees when new rules come into force tomorrow..."

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Credit and debit card fee clampdown begins



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lanstrom

Doesn't mean anything unless there is a maximum percentage set.

Where I work we charge 2.5% for credit cards (debit cards are free of charge). Is that fair or not ?

Pete-B

Even 20-25p for Debit Cards is a rip off when they don't take cheques. At our local dentist, which charges 25p, I've seen pensioners carry hundreds of pounds from the Post Office across the village to pay for treatment because of this, which I think is shameful. It's only a matter of time before one gets mugged.

When big companies used to pay in cash or cheques to their banks, they were charged a fee, presumably this is still true for larger businesses, so the debit card charge in fact is penalising people more than paying by cash (or cheque when it was allowed)!

Regards, PeteB

zerog

Pete-B wrote: »

Even 20-25p for Debit Cards is a rip off when they don't take cheques. At our local dentist, which charges 25p, I've seen pensioners carry hundreds of pounds from the Post Office across the village to pay for treatment because of this, which I think is shameful. It's only a matter of time before one gets mugged.

He can't absorb 25p per transaction?? I wouldn't trust him with my teeth wonder what else he is skimping on...

Poq

Those admin charges should also be looked into.

I love it when there's a "booking fee"... always begs the question: can I fly without incurring this booking fee? The answer is almost always no.

Online booking systems are automated, they don't need much administration... anything extra-ordinary happens via expensive 0870 numbers, so they also make $$$ there.

Pete-B

zerog wrote: »

He can't absorb 25p per transaction?? I wouldn't trust him with my teeth wonder what else he is skimping on...

Niether do I - I've gone to one in the next town (where credit cards are free too).
Given what dentists earn, I think it's all the more shameful.:mad:

upton66

I would say 2% max charge for a credit card is a rip off. High street retailers do not charge extra so why should on line transactions incur the charge?

Deaf_Leopard

Pete-B wrote: »

Niether do I - I've gone to one in the next town (where credit cards are free too).
Given what dentists earn, I think it's all the more shameful.:mad:

So you spend how much in petrol to avoid a 25p charge for paying by debit card?

Pete-B

Deaf_Leopard wrote: »

So you spend how much in petrol to avoid a 25p charge for paying by debit card?

I visit this town every day anyway, so nothing extra (and I often cycle, so even cheaper!). But on principle, I'd be happy to spend the 50p or so my Hybrid car costs for the journey, even if it is double the saving. Apart from that, I pay by credit card, which is more convenient as I have one month direct debit to pay lots of little charges) - would be +2½% at the local dentist.

fozmcfc

I definitely think these surcharges have been getting out of hand and in some cases, certainly cannot be justified. But I can't see this making a difference really.

For instance, normally there is a £1 or £1.50 surcharge on cinema tickets, bought online. All the companies will do, is put that cost onto the ticket price and then have advertising saying "No card surcharges" as if they are doing us a favour. Or put the difference between the current surcharge and new surcharge onto the ticket.

There is a very small possibility that a very small amount of people, might be put off from higher prices, with no surcharges, then lower prices with surcharges.

My biggest issue is with travel companies. Surcharges can be £10 or more for using a card on £200 worth of travel, with some companies.

robbies_gal

hiow is tghis going to affect concert tickets? will there be a loophole because they call it a booking fee? the usually charge up to 10% its shocking