MSE News: Credit and debit card charges banned from Saturday - what you need to know

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  • eskbanker
    eskbanker Posts: 30,993 Forumite
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    Trevelyan wrote: »
    have you got a link to a statement that business cards are excluded?
    See http://forums.moneysavingexpert.com/showthread.php?p=73690998#post73690998 for various links that explain this in more detail, including the legislation itself if you're really motivated enough to wade through that!
  • gt94sss2
    gt94sss2 Posts: 5,630 Forumite
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    Trevelyan wrote: »
    gt94sss2 - have you got a link to a statement that business cards are excluded?

    Paragraph 5.2 here
  • Netty43
    Netty43 Posts: 3 Newbie
    Can anyone help - I went to pay the balance on a holiday booked before January 2018, they told me that because I booked it last year they would still charge 2.5% for payment by credit card. Are they allowed to do this?
  • dj1471
    dj1471 Posts: 1,968 Forumite
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    Netty43 wrote: »
    Can anyone help - I went to pay the balance on a holiday booked before January 2018, they told me that because I booked it last year they would still charge 2.5% for payment by credit card. Are they allowed to do this?
    Yes they are, the new legislation is not retrospective.
  • Nick_C
    Nick_C Posts: 7,457 Forumite
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    Netty43 wrote: »
    Can anyone help - I went to pay the balance on a holiday booked before January 2018, they told me that because I booked it last year they would still charge 2.5% for payment by credit card. Are they allowed to do this?

    Depends when you booked it.

    See posts 37 and 38 of this thread.
  • Nick_C
    Nick_C Posts: 7,457 Forumite
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    dj1471 wrote: »
    Yes they are, the new legislation is not retrospective.

    Not necessarily true. Depends when the holiday was booked.
  • dj1471
    dj1471 Posts: 1,968 Forumite
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    Nick_C wrote: »
    Not necessarily true. Depends when the holiday was booked.
    They already said they booked it before January... so before the legislation came in.
  • etienneg
    etienneg Posts: 468 Forumite
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    hamstring wrote: »
    If the government has banned all Credit Card Surcharges from 13th January 21018, why are the DVLA still charging £2:50 to pay for my Tax renewal???



    I've just done mine and there is no surcharge.


    Read the direction carefully:
    "There is no fee for paying with any debit card, pre-paid card or a personal credit card. An additional fee of £2.50 is applicable to all other types of cards."


    So, unless you are trying to pay with a business credit card or similar (when they are allowed to charge), there is no fee.
  • Nick_C
    Nick_C Posts: 7,457 Forumite
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    dj1471 wrote: »
    They already said they booked it before January... so before the legislation came in.

    THAT IS IRRELEVANT!!!

    Depends when you booked it.

    See posts 37 and 38 of this thread.
  • Mark_Baugh
    Mark_Baugh Posts: 1 Newbie
    I run a small buiness and one thing I haven't seen reported anywhere in the news is that all Credit Card Companies have forced huge prices rises in card transaction fees in January this year just prior to the ban coming out. Before January this year I was charged 29p to process a debit card transaction - the fee has changed to 1/2% - most of my debit card sales are on average £200 - £300 which equals a new charge of £1 - £1.50.
    Credit card fees now vary hugely depending on whether it is Master card or Visa UK or International cards. Last year my average credit card %age fee was 3% this year it is 4.5% then you have to add on the monthly terminal fees and the Personal Credit Information fees and this year they now charge for the phone call you have to make to get a payment authorised.
    All the news is about how "Bad" businesses are for charging these fees. They have to be paid for somehow - whether it is by being upfront and transparent with them or having to add them to the price of a product.

    What isn't stated in the news is who the winners are in all of this - have a guess - The only interests this whole thing seems to be serving is those of the Credit Card Companies - I think it is a fabulous coup they have pulled off here. They have managed in a number of sneaky ways over the last two or three years to massively hike up the cost of card transactions and this latest trick really does take the biscuit. They must be really rubbing their hands now.
    My cynical mind wonders how much lobbying these companies might have done to get these laws into being - they really are the only winners. It serves them well not to have their charges advertised.
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