Post by Admin on Jan 18, 2018 16:28:30 GMT
Ban on surcharges
www.businesscompanion.info/en/quick-guides/pricing-and-payment/payment-surcharges#Banonsurcharges
Government to ban ALL charges for paying by credit or debit card (19 Jul 2017)
Companies will be banned from charging ANY fees for credit or debit card payments from early next year.
"New rules which will come into effect on 13 January 2018 will mean you cannot be penalised for choosing to pay by card, either online or in-store.
Under the current rules, which came into force in 2013, companies should only charge you what it costs them to process a debit or credit card payment - they shouldn't make a profit on these surcharges.
But consumers can still face hefty charges, with fees typically around 2% and on some smaller transactions accounting for as much as 20% of the bill"
www.moneysavingexpert.com/news/cards/2017/07/credit-debit-card-fees-to-be-banned
www.businesscompanion.info/en/quick-guides/pricing-and-payment/payment-surcharges#Banonsurcharges
Government to ban ALL charges for paying by credit or debit card (19 Jul 2017)
Companies will be banned from charging ANY fees for credit or debit card payments from early next year.
"New rules which will come into effect on 13 January 2018 will mean you cannot be penalised for choosing to pay by card, either online or in-store.
Under the current rules, which came into force in 2013, companies should only charge you what it costs them to process a debit or credit card payment - they shouldn't make a profit on these surcharges.
But consumers can still face hefty charges, with fees typically around 2% and on some smaller transactions accounting for as much as 20% of the bill"
www.moneysavingexpert.com/news/cards/2017/07/credit-debit-card-fees-to-be-banned