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Speakers Corner


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Credit/debit card surcharges to be banned


anchor

Likes # 1

Good news; about time.

latest news

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interzone55

Likes # 0

More accurately excessive charges are to be banned.

Companies will still be able to recover costs for transactions, typically 1-2% for credit cards & 20p for debit cards.

I foresee Easyjet & Ryanair finding interesting new ways to add admin charges to their bills

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spuds

Likes # 0

This move was discussed some years ago, and still it as not been resolved to the public's liking. The legislation apparently will not apply until the end of next year, so in the mean time, commerce will have a breathing space to perhaps make alternative arrangements or surprises?.

There is already (I believe?) changing moves on debit card arrangements and charges going through at this moment, on foreign transaction at banks and cash points, especially for tourists and holiday makers!.

I was reading an article the other day, about the power utility companies who are charging various different rates, to different people, for the same commodity. One point was the reduction in price through payment by direct debit, which in some cases can save the public more than £100.00 per year on their bills. It was pointed out that some people do not have access to banks or cards, and in the main these are the poorest people in the land. So what is the government going to do about situations like that?.

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OTT_B

Likes # 0

We'll all still pay in the end. The credit car companies will increase their annual charges to the retailers, who in turn will pass the costs onto their customers.

Rip off Britain exists because their are too many greedy people, and too many people prepared to pay the costs. No amount of legislation will fix that.

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SparkyJack

Likes # 0

I guess it has to be acknowledged that 'Collecting money as an 'agent; does have a cost. But it should be seen as part of the overheads of the business and incorporatorated in the selling price- but the perhaps a complication could ensue because it would incur a VAT element - but so does packing and shipping and in some instances insurance.

Where a 'collection surcharge' should be shown as separate is where a government tax or levy is collected in this way.

For example Council Tax. Toad Fund tax. even fines and penalties are sums laid down by statute and if the sum required to discharge the debt is[say] £500 then that is what has to be paid - be it by card or cash over a bank or post-office counter as these too collect a commission.

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WhiteTruckMan

Likes # 0

fourm member- "many of them are the ones who really thought you could get a flight from London to Dublin for 50p"

While I agree with the sentiment, I also think it's disingenuous for airlines to offer flights with that stated price.

WTM

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sunnystaines

Likes # 0

about time this rip off was scrapped but why do we have to wait a year

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spuds

Likes # 0

"but why do we have to wait a year"

Simples. As I stated earlier, gives a breathing space to come up with something else?.

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oresome

Likes # 0

Providing we have a genuine competetive market, I've no problem with a supplier pricing their product at what they wish to.

But the price needs to be transparent.........not tacked on at the last second after going through all the hoops.

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morddwyd

Likes # 0

One practice I'm glad did not catch on was that of a local retailer, who started charging p&p on everything he sold.

When I demurred he argued that he had to pay it to get the goods delivered to the shop, which is, of course, true, but most retailers incorporate such chrges in the price at the till!

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SparkyJack

Likes # 0

mordwyddwrote

'When I demurred he argued that he had to pay it to get the goods delivered to the shop, which is, of course, true, but most retailers incorporate such chrges in the price at the till!'

A practice still employed by the New Car trade - everythiung has a delivery cost- and the motor trade always load it on the sale price of the vehicle

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