limits on fees by UK companies?

GentleGiant_2

Hi,

Is there now a legal limit on how much a UK company can charge for use of a credit or debit card?

I know of one ( Event Travel) that charges at least 2% even on debit cards!

Is this allowed?

Or can they charge whatever they like?

grumbler

MSE:
EU agrees card charges shake-up, but will shoppers pay less and ...
Cashback credit card rates to drop as Govt confirms lower ...
Credit and debit card fee clampdown begins

The rules still need to be officially endorsed by the Council of Ministers before they can take effect, although a set date for this has yet to be confirmed. The legislation will come into force for all retailers, both in-store and online in Europe around six months after this.

This was a year ago.
Even if the legislation did come in force as promised, I think our government forgot to introduce any measures for enforcing it.

GentleGiant_2

so no

Thanks anyway

eskbanker

The EU changes related specifically to interchange fees rather than the full cost to retailers and ultimately customers, there was a similar discussion in this thread a few months ago: https://forums.moneysavingexpert.com/discussion/5351923

Retailers can charge what it costs them rather than what they like, but proving what it actually costs them is the tricky bit!

agrinnall

GentleGiant wrote: »

Hi,

Is there now a legal limit on how much a UK company can charge for use of a credit or debit card?

I know of one ( Event Travel) that charges at least 2% even on debit cards!

Is this allowed?

Or can they charge whatever they like?

Surely the answer is to vote with your feet and go elsewhere. I can't see any reason to pay a 2% debit card fee unless the total price is still less than everyone else charges.