Should "Cash Only" or "Minimum EFTPOS" be banned?

mashedpotato on 15/06/2015 - 18:39

Every now and then you bump into a shop or restaurant
and find that there is a minimum amount you need to pay in order to pay by card.
There's even shops that do not accept EFTPOS at all.

One day, I went to the station to buy a ticket, but I did not have any cash on me
I tried to pay by card to buy a single ticket, but the station staff told me in an unpleasant look,
"Why do you pay by card for a small amount? Don't do that next time"

I am aware of the fact that minimum EFTPOS amount of cash only policy is due to the fees
that the retailers have to pay when the customers pay by card.

As a person who have worked in retail stores,
I sometimes had to confront customers who had an unpleasant look when I told them there is a minimum EFTPOS.

Should "Cash Only" or "Minimum EFTPOS amount" be banned?

Please tell us what you think.

Poll Options

  • 174
    Yes, it should be banned. Why pay cash when paying by card is so much convenient!
  • 270
    No, it should not be banned. That's how it is in the world of business.
  • 8
    It depends on the cases. Yes in some areas and no in other areas.
Financial

Comments

  • iridiumstem on 15/06/2015 - 18:44
    +19

    My mother owns a small retailer shop that sells mostly clothings, accessories and stuff. What she tend to do was, she gave more discounts, or give small freebies etc, for customers who've paid with cash, as an incentive to use cash over card.

    I think fees on transactions are hefty (at least from what I've heard), while I think it's annoying to not be able to use card for small transactions (and I actually prefer shops that accept card for any transaction), I do understand why.

    • shamid202 on 17/06/2015 - 11:30
      +4

      I have a small business and if I buy an item for $3.5 i will sell it for $5 and i have to pay about 13C + 36Cent for each transaction so im paying almost 50c on fees and $1 in profit. so its definitely not worth it in small amounts!

      • MrGrinchy on 18/06/2015 - 08:46
        -2

        You are getting ripped off.

        I have read somewhere else , that under $15 trans cost $0. Dont use dialup use internet, and shop around.

        Btw, even cash is not a zero cost transaction since you still have to drive to the bank and spend time depositing.

        "Now if you bear in mind that $15 is free, there's no fee for $15 and after $15 it's 4 or 5 cents, there's really no justification for any kind of fee with percentages.
        "It's way over the top. I'm afraid either through ignorance or opportunism we're starting to see these fees creep in and I think consumers need to be aware of that, resist and question them where they can."

        • highdealer on 18/06/2015 - 19:54
          +6

          You read somewhere? How nice and general!
          I read somewhere that if chop your head of, you get free money for life too.

          On the serious note:
          What you read was this:
          http://www.eftposaustralia.com.au/about/resources/scheme-fee…
          That is just how much eftpos charge for each transaction, your bank/financial institution may or may not have a separate charge as a transaction processing fees(this is depend on the package deals). Same with paypal and Feebay.

          I am with ANZ and they charge a flat fees of 15c per transaction + a monthly access fees. So for transaction under $15 we are still paying a 15c fees per transaction regardless.

          Your statement about driving to the bank to deposit money is also not entirely correct. You are not going to the bank to deposit money every time someone pay you in cash. You do get charge a fee every time someone pay you with eftpos. If you deposit your money once a month, the cost of going to the bank once a month is equivalent to the bank charging you a monthly fee for using their service. This is already accounted for as cost of doing business.

          It is so ironic that you use "ignorance" so freely.

        • seanbaussie on 19/06/2015 - 09:17

          The difference between cost of cash & card is that a store will always need cash, so although you have a theoretical cost, it can't be ignored - unlike eftpos etc costs.

      • [Deactivated] on 19/06/2015 - 10:04

        Sounds like a great business.

  • scrimshaw on 15/06/2015 - 18:57
    +19

    Businesses have to pay a range of fees in order to have EFTPOS facilities in their store. The first is the merchant service fee (MSF) which is a percentage of all transactions put through (ranges from 0.7% – 1.5%). Then you have an EFTPOS fee of usually 20c – 30c per transaction. Then there is a terminal rental of $10-$30 per month with additional auxiliary fees not included.

    And also a comment from Lifehacker seems to indicate that the problem is with the banks, not the retailer:

    The fees a merchant is charged for customers to use paypass/paywave are a lot higher than regular machine use. I know at work, our charges are 30c for each VISA paywave and 15c for Mastercard paypass, on a $3 coffee (or worse $1 cookie) that translates to a 10% and 30% extra cost price on the retailer.

    No wonder the little businesses are struggling these days. Before I worked at the cafe I was ignorant on the fees merchant's were getting charged too. Blame the banks, not the businesses, they have to enforce these minimums and surcharges just so they can continue running their business at all.

    Also, airlines have a massive credit card surcharge — sometimes of around $30 dollars when you fly internationally with Qantas but nobody seems to be batting an eyelid…

    • AMLagonda on 15/06/2015 - 23:57
      +9

      My paypass fees are:
      MC Dom CR Paypass 0.32%
      MC Dom DR Paypass $0.055
      Visa Dom DR Electronic $0.088
      Visa Dom CR Electronic 0.33%
      Visa Mastercard service fee is 0.64%
      In saying that I do have a $5 minimum.

      • rompastompa on 16/06/2015 - 10:42
        +3

        You would have to process a certain amount per month to get those rates.

      • chillybags on 16/06/2015 - 22:05
        -4

        I understand that those fees would rack up, but would you be willing to lose a customer over it? If i didnt have cash on me and came into your store to buy a pack of gum I would not be inclined to try spend above the $5 min, i would just go find another store. Surely the 5.5/8.8c paypass costs wouldn't eat into margins that much?

        • linkii on 17/06/2015 - 19:58

          If you buy a pack of gum, the retailer probably only get max 10c profit out of it anyway. Then after fees 2-3c profit. So of course not worth it.

        • MrGrinchy on 18/06/2015 - 08:52

          @ko0l:

          I am sure a $1.50 pack of gum, comes in packs of 24 per box wholesale for $12 = 50cents.

          God man, if I can buy gum at Aldi that is 1/3rd the price of MiniMarts, then DUHHHH your profit margin
          has to be bloody high for a $1.50 pack of gum.

          Lots of crap sold at minimarts can easily be found else were at half the price, so im sure wholesale is even cheaper.

          You would be supprised how cheap wholesalers are at bulk.

          Ever wonder why a 6 pack of VB costs $18, yet 24pack is $40. So why isnt a 6pack $10? or is that $8 profit? I am sure the shop eventually sells all 6 packs quicker than cartons.

        • randy on 18/06/2015 - 10:59

          @RalX:

          i have a bottleshop. At $40 a slab your looking a a profit of $0.50 at best. Unless your one of the big guys. So no one will work for $0.125 a 6pack. So support your local. They should be charging $13-$14 for 6 packs.

          You be suprised what wholesalers are charging. Safeways are cheaper when on special. Unless you buy a 5 case special on gum.

        • linkii on 18/06/2015 - 12:54

          @RalX: There isn't much margin for a pack of gum. Buying at aldi/ or woolies when on special is actually cheaper than wholesale for a small retailer. I know cause my aunty owns a newsagent and I've made orders before. Drinks on the other hand does have a high mark up. Usually 50-100% profit margin. That's where my aunt makes her money.

        • 811b11e8 on 18/06/2015 - 13:21

          @randy:

          Booze is a different story.

          Safeway will sell a slab at almost cost just to get people walking in the door hoping they will buy something like a bottle of wine with a relatively high markup.

  • [Deactivated] on 15/06/2015 - 19:31
    +3

    I would complain to the operator of the station about the staffs poor attitude.

    If I got that attitude I would have told them to get off their high horse and do their job without the attitude.

    • [Deactivated] on 15/06/2015 - 20:31
      +13

      staffs poor attitude.

      The station staff's reaction doesn't even really make sense to me either. Customers using card means the staff do less work, doesn't it? They don't have to handle or count cash, or hand back change. Lower risk for them too (with regards to the balance of their till, potentially). Card is win win. It's not like it's their own business either so the aren't losing out personally when the customer chooses EFT.

      Bizarre response really, IMO. You'd think staff anywhere would prefer a customer opting for card payments. Hit the button on the register, and the customer does the rest of the work. Happy daydreaming. lol

      • [Deactivated] on 15/06/2015 - 20:36

        Maybe they have shares in the company?

        • [Deactivated] on 15/06/2015 - 20:40

          Methinks they just weren't very smart :P

      • nikey2k27 on 16/06/2015 - 09:48
        +1

        Customer turn up with 40,000 in cash i told him it was cash deal. my boss was happy for deal we had to hold 40,000 in cash all weekend. next time tell him efposs is ok.

        • JimB on 16/06/2015 - 15:07

          What did you sell?

          Also, there are daily limits on EFTPOS transaction.. mine is the same as my daily ATM withdrawal amount.

        • Serapis on 17/06/2015 - 02:58

          @JB1: I tried withdrawing around 40 - 50k in cash to buy a car one time, bank made a big fuss about security so I settled for a bank cheque instead…

        • nikey2k27 on 17/06/2015 - 06:21

          @JB1: 170 TV and other stuff.

        • nikey2k27 on 17/06/2015 - 06:22

          @Serapis: Credit card was one in the same.

      • 01011010 on 16/06/2015 - 13:02

        if everyone pays by card, and not by cash, then there's less need for them there. so why have them?

  • YaBigGoose on 15/06/2015 - 19:33
    +6

    Should EFTPOS minimum or cash only be 'banned'?

    Not at all.

    • noshopping on 18/06/2015 - 22:33
      -1

      Why should cash be banned? It's free of transaction costs because no private corporation owns the system. It is up to the consumer to vote with their feet. Imagine if the government forced everyone to stop using Cash, EFPTOS and forced YOU to use PayPal… eBay did that once… until the government forced them to stop it.

      • highdealer on 19/06/2015 - 00:24
        +2

        should have gone to specsaver!

      • YaBigGoose on 22/06/2015 - 00:27

        downdown, you might want to read what my comment says again.

    • iridiumstem on 15/06/2015 - 20:13
      +4

      Yeah, but you have to vary the profit margin on the goods depending on their base cost as well. Let's say a lollipop, you cannot really add much profit margin on it as much as you could with something more expensive. People act to proportions when it comes to price (i.e. $5 discount on $200 good doesn't look as good as $5 discount on $10 good).

      Let's say I add 30% margin onto the goods that I sell. If it is 50c base cost (exc rents and labour etc), I get 65c revenue on it. The cost on it would include everything, i.e. portion of rent, portion of labour etc etc. So the profit margin for the good becomes really small as the result. So when you add that extra cost from EFTPOS, sometimes you barely break even (which is bad) or you lose out. If the good has $50 base cost, then my revenue is $65. Even after you count in rent, labour and other cost, you still get fair bit of profit left, so EFTPOS fee becomes relatively negligible as a result.

        • [Deactivated] on 15/06/2015 - 20:24
          +8

          They actually do charge a flat fee per transaction as well as or in place of a % of the revenue.

          30 cents of $1 is 30% of your purchase
          30 cents of $100 is only 0.3% of your purchase

          If you sell a lollipop for 50 cents, and pay the bank 30 cents for paywave, you're left with 20 cents to cover the cost of the lollipop and all your other bills.

        • iridiumstem on 15/06/2015 - 20:33

          Yeah, but within that 30%, you have to pay for every other fixed cost associated with the sales. After paying for all that, the profit margin becomes smaller, especially smaller for the small transaction as fixed cost is, as the name suggests, fixed and spread across the transaction across the period.

          If I pay $10 rent and $10 wage for a period, if I spread the cost of that onto every single goods I sell (since whatever I sell, I pay the same rent and wage for that period), cheaper goods usually end with smaller profit margin as a result.

        • juventino on 16/06/2015 - 14:27
          +7

          it's alright buddy, your brain can't compute complex calculation such as percentage and fixed flat fee

  • swiggity swag on 15/06/2015 - 20:01

    Commbank merchants aren't permitted to impose a minimum transaction amount.

    Also when I'm at MSY I'm able to pay with savings to avoid any surcharge. Does anyone know if this can be used anywhere else?

    • Agarwal on 16/06/2015 - 20:11

      Yes most places, though there is usually a limit to the amount you can spend by pressing savings, whereas if you press credit the only limit is the amount of funds you have available. Also you wont get any reward points by pressing savings.

    • Serapis on 17/06/2015 - 03:00

      @ MSY I pay with a wad of cash

  • Randxyz123 on 15/06/2015 - 20:37

    Now if shops have a minimum I just leave. I'm trying to avoid carrying cash at all. Paypass has been invented for a reason… Bump up your prices slightly if you are worried about the merchant charges I'd rather pay more by card then have to go and get cash out.

    There was a certain pub in Melbourne that had like a $25 minimum absolutely ridiculous. They've actually changed now because they've obviously realised people don't carry much cash on them.

    A coffee shop near my Uni has no card minimum the coffee line is usually about a 10 minute wait. Another store about 50m away had a $10 minimum till late last year when they changed.

    Don't even get me started on MSY and Centre Comm that change a SURCHARGE for using a card. I went to MSY for the first time to get a hard drive a few weeks ago, never again.

    The place was so disorganised stuff everywhere and then they have the nerve to tell me that there is a 3% surcharge for paying by card. If I didn't have the cash on me I would have told him to get stuffed.

    • swiggity swag on 15/06/2015 - 20:46
      +3

      I know at MSY you can pay with savings, not sure about Centre Comm.

    • coolhand on 16/06/2015 - 21:59

      Paypass has been invented by Visa and Mastercard to essentially put eftpos out of business so that even when someone is using thier own money, the banks get to charge the higher cc rate for a transaction (i.e. Debit Mastercard). Think about how often you used credit or savings for purchases before paywave vs now.
      But what you say is really the crux of the issue I don't believe buisnesses should ever be forced to remove the conditions but it does affect the customer experience and therefore the competitiveness of thier buisness, so they have to weigh that up against thier decision to restrict card payments.

    • JimmyF on 17/06/2015 - 11:01
      +3

      MSY and Centrecom only change a SURCHARGE for using a CREDITCARD.

      No surcharge for CHQ/SAV account. Deal with it. Credit cards cost businesses 1.5-3% in fees. On a item that you're only making a few % on anyhow, why would they want to give away all the profit cause you want to use CREDIT.

      The real issue here isn't businesses, its the BANKS for charging such high fees to the retailers. Banks are loving it, cause every swipe is just pure cream and profits to them. VS cash where they don't.

      All the visa debit cards are even better. They use your own money and they still charge the retailer a credit card processing fee!!!

      hahaha the "nerve" of charging 3% fee…. You know if you had the cash or used CHQ/SAV there would be no fee! The nerve of you wanting to use credit card for everything!

      • FutureTech on 17/06/2015 - 11:38
        +1

        People press "credit" when using visa debit card for a reason. Everytime you do this you are covered by visa zero liability policy which adds a layer of protection.

        • JimmyF on 17/06/2015 - 11:56
          +3

          Then if you press CREDIT for a reason, then you need to suck up the fees some retailers charge. Simple.

        • Gareth on 17/06/2015 - 18:19
          +2

          And where do you think this magical insurance comes from?

          A: The fees that Visa charge banks which flows through the merchants and often to the customer.

          Choose whether you want this insurance AND are willing to pay for it.

    • 811b11e8 on 18/06/2015 - 13:22

      Surcharge is fair

      No point everyone else paying bumped up prices so you can pay pass

  • silverrat23 on 15/06/2015 - 21:42
    +9

    When I print at Uni and need to top up some credit, card is the ONLY option - no cash.
    Now, I think that is worse!

    • Randxyz123 on 15/06/2015 - 23:07
      -1

      Disagree. We are moving into a cashless society.

      My Uni does this as well and has a paypass compatible terminal. Easy 2 minute job.

      I only carry cash now for the one coffee place near Uni that I really like but doesn't take cards and for pool tables.

      • Debravity on 16/06/2015 - 08:07
        +6

        A cashless society is a bad thing. If you don't have cash when the banking system crashes over here, like it could do (and has done in many countries in recent times), you will be relying on the broke banks ability to convince retailers to accept 1's and 0's from an insolvent banking institution who's funds (assets) are all locked up in a frozen housing market which has gone south with no hope of becoming liquified in the short term. At that time, cash will be king! If you leave all of your eggs in one basket, you know what happens. Cash is important and should never be taken out of our society. Computers are too unreliable and so are the people running them.
        Plus, how bad would it be if you couldn't sell some of your junk on gumtree without the taxman hitting you for it, again?! Nuff said!

        • phoenixx on 16/06/2015 - 08:14

          Why post this twice?

        • Debravity on 16/06/2015 - 08:17
          +1

          @phoenixx:
          Accidental iPhone 4. Removed it.

        • iridiumstem on 16/06/2015 - 11:08
          +2

          I will throw in this for food for thought. During 70s, we've practically moved on from gold standard to fiat money. Government can do whatever they want to do with money as they please (as the value of the money is no longer tied down to gold), at least more so than before 70s. Now we have a "currency" (quotation because it can be argued) that doesn't have any government backing it, i.e. bitcoin. Whether it is just a fad that's going to fade away is unknown, but it's interesting, isn't it?

        • [Deactivated] on 16/06/2015 - 18:05
          +2

          @Debravity:

          Cash is important and should never be taken out of our society. Computers are too unreliable and so are the people running them.

          then phoenixx asks:

          Why post this twice?

          Debravity:

          Accidental iPhone 4. Removed it.

          lol. "Computers are too unreliable"… indeed (I too shall always carry some cash)

        • sareth on 17/06/2015 - 23:22
          +3

          So what, you're going to take all your money out of the bank and keep it as cash?

        • tohara on 18/06/2015 - 08:54

          Quick! Get the foil!

        • Debravity on 24/06/2015 - 00:34

          @seanmurphy1994: no, not all of it. Depends on what's happening. Have a look at what happened in Cyprus - and the run on the banks happening in Greece, currently. I can't advise you, but we keep some cash at home, particularly with interest rates so low.

        • Debravity on 26/06/2015 - 00:09
          -1

          @tohara: what do you mean by this? Are you suggesting that I fence in my spare time? Or use one to protect my money from bandits? Your comment seems snarky. Kindly explain yourself. You didn't get any appreciation from the peanut gallery, so maybe your point is flying over everyone's heads or, not so clever - but I want to give you the benefit of the doubt. Thanks.

  • t_c on 15/06/2015 - 22:10
    +2

    I get charged 2.6% by the bank, I just pass it on to the customer. I don't have a problem with small amounts.

    • pjcook on 16/06/2015 - 09:08
      +4

      If that 2.6% is just the transaction charge it seems very high to me…. Perhaps you should renegotiate

    • [Deactivated] on 16/06/2015 - 15:41

      you are getting royally rorted

      • t_c on 16/06/2015 - 16:18
        +1

        ANz fastpay goes thru your mobile so they have to charge more cause they can't rort you on the rental. But it is going down to 2.3% plus $5 per month rental for a swiper to plug in phone.

  • [Deactivated] on 15/06/2015 - 22:25
    +7

    If Local Councils, State Debt Recoveries, telecommunication companies are charging credit card fees, don't expect your local corner store to make it free anytime soon.

  • Adz81 on 15/06/2015 - 22:30
    +13

    Banned?! No.

    If you have that much issue with the idea, shop elsewhere. It's really that simple.

  • zappy32 on 15/06/2015 - 22:55
    +1

    I think as long it's a reasonable amount, around $5, then there is no issue. I understand they have to pay a fee for the samll transaction and the type of customer that wants to pay $2 on card probably isn't a customer they're looking to retain. I think it used to be more of an issue because of the extra time to process but with Pay Pass and the and the fact most POS systems integrating with the card terminal this is no longer an issue.

    • Randxyz123 on 15/06/2015 - 23:11

      This. I must say I haven't come across the issue for a while now. The entire point of paypass is that you can pay for your coffee with a card where as previously you couldn't because it was such a slow process.

  • fruit on 15/06/2015 - 23:00

    EFTPOS fees are between $0.01 and $0.03 for transactions under $15 http://www.eftposaustralia.com.au/about/resources/scheme-fee…

    (That's when you press savings)

    • JimmyF on 17/06/2015 - 11:03
      -2

      His talking pressing CREDIT…… Different ballgame.

      • fruit on 17/06/2015 - 12:16
        -1

        Should "Cash Only" or "Minimum EFTPOS" be banned?

        EFTPOS = Savings

        ctrf-f "savings" in OP = no results

        • JimmyF on 17/06/2015 - 12:28
          +1

          EFTPOS covers all accounts being Sav/chq and CREDIT card transactions….. OP said "I tried to pay by card"….. Card could be either Sav/Chq or Credit.

        • fruit on 17/06/2015 - 12:48

          @Level380:

          His talking pressing CREDIT…… Different ballgame.

          https://www.eftposaustralia.com.au/

  • AMLagonda on 15/06/2015 - 23:59
    +1

    I get charged a flat rate of $0.20 for Debit card

    Most expensive card is Mastercard CR super Premium 1.75%
    Visa is Platinum 1.023%
    (Im just getting this off my statement)

    My paypass fees are:
    MC Dom CR Paypass 0.32%
    MC Dom DR Paypass $0.055
    Visa Dom DR Electronic $0.088
    Visa Dom CR Electronic 0.33%

    Visa & Mastercard service fee is 0.64%

    In saying that I do have a $5 minimum.
    We love paypass so quick and easy and the fees are cheap (well they seem to be)

    • T-man on 16/06/2015 - 12:21
      +1

      Which bank offered you this competitive rates? I am with BankWest at the moment and they charged me way higher than yours. My monthly turn over is $50,000. Thanks.

      Merchant Service Fee 0.75%

      Domestic Scheme Debit 0.45% (Visa) 0.45% (MC)

      Domestic Premium 1.25% (Visa) 1.20% (MC) Platinum card

      Domestic Corporate 1.40% (Visa) 1.30% (MC) Business card

      Domestic Micropayment 0.80% (Visa) 0.80% (MC) Less than $5 Visa or $20 MasterCard

      International 2.29% (Visa) 2.49% (MC)

      American Express: 1.85%

      • cjmorgan87 on 16/06/2015 - 15:09

        I'm with BankWest
        My merchant service fee has just increased but is still nearly 50% lower then your own

        I would definitely try and negotiate on that

        • T-man on 16/06/2015 - 16:04

          Thanks, I'll give it a go and try to negotiate the rates again. Also, do you have to pay another $15 administration monthly fee? I talked to them to waive that fee, but they said that the admin fee is like an access fee, it basically keeps the facility open for me.

          ANZ used to charge me only $3 admin fee.

        • randy on 18/06/2015 - 11:23

          @tlam:

          Being in business, you should have an account with Metcash? Like campbells cash and carry or one their other companies. This lets you access Commonwealth banks Metcash offer. Pretty sure its one of the best deals and you dont even have to negotiate because the offer is already set. No monthly terminal fee if money goes into a com bank account.

          If you dont have a metcash account, just open one up in Campbells cash and carry.

        • T-man on 18/06/2015 - 12:21

          @randy:
          First time i hear about Metcash account, can you send me more information about that? Link? Or private me a message. Thanks so much.

      • AMLagonda on 16/06/2015 - 16:38
        +1

        I bank with NAB (business, private, home loans everything) and the eftpos is with NAB, we were with st george bank and they were a bloody ripoff…

        I pay $14.90 a month for the machine :) great deal I think.

      • FutureTech on 16/06/2015 - 20:32

        It's interesting to see how much more an overseas credit card will cost the merchant, considering that I don't have Australian credit card and when the paypass facility is not available I use overseas issued credit card to accure points and force them to provide a pen for me to sign as overseas credit card is exempted from the no pin no pay policy.

  • felipe1982 on 16/06/2015 - 07:30

    Many costs to running a business. This is no exception. However, I have no problem with incentives to pay in cash.

  • [Deactivated] on 16/06/2015 - 08:29

    I wish tha MC/Visa gave merchants lower fees for small value transactions so that small players didn't feel pressured to do this

  • onlyletters on 16/06/2015 - 08:34
    +4

    "Cash Only" is obvious that they are not paying any tax and this should be investigated by the ATO but really, the ATO is only interested in the people who use a medium that they can track like EFT, Bank or PayPal transactions.

    • OzBestDeal on 16/06/2015 - 09:31

      Some businesses also interested in cash because banks tend to delay transferring the money.
      For some small businesses, this can cause headache.

    • JimmyF on 17/06/2015 - 11:04
      -1

      "Cash only" is also for some businesses that don't want to get raped by bank EFTPOS/CREDIT card fees and can get away with it!

  • Donaldhump on 16/06/2015 - 08:37
    +8

    all chinese businesses in the shops where i work have eftpos machines that always seem to be broken.

    • OzBestDeal on 16/06/2015 - 09:26
      +1

      Totally agree with this…
      Some businesses advertise Visa, MC, etc on their door but the machine never works

      • Donaldhump on 16/06/2015 - 09:47
        +6

        chinese takeaway near me has had a broken eftpos machine since 2008 (no joke)

      • Japius on 17/06/2015 - 13:23
        +1

        I always email MC/Visa/Amex etc if a store has the sign but for one reason or another wont/cant accept it. I find it mostly with Amex, usually the providers are quick to investigate and help them if it is a true system issue or remove the signage if theyre doign a bait and switch

    • T-man on 16/06/2015 - 17:04

      A Chinese restaurant near my house has a $30 minimum for using cards + 2% surcharge.

  • OzBestDeal on 16/06/2015 - 09:24

    Taxi in NSW used to charge 10% for their credit card processing fee (not sure about other states).
    Now they only charge 5%. Still pretty high, but it shows something can be done (maybe by the union) to lower bank fees to businesses.

    • ilikeradiohead on 16/06/2015 - 10:40

      Victoria and WA too (and probably others). The State Governments in each state simply forced them to lower their fees. You can get away with anything when you have a government imposed monopoly. Now that Uber has come along though, I think competition will probably whittle away those fees further.

    • NBAD25 on 16/06/2015 - 11:05

      Drivers used to be forced to use only a particular provider, which obviously charges ridiculous amounts.
      I think drivers are free to choose their own machines now, but a few bank (that is to say most of them) will only provide a machine to the owner of the cab, and seeing as only a handful of owners actually drive; they're still an under-catered market and consumers are bearing the brunt. (in terms of costs, drivers are still being physically and verbally abused on an hourly basis)

    • doctau on 16/06/2015 - 18:09

      It's still 10% plus GST (so 11%) here in Queensland :(

  • imahapyboy on 16/06/2015 - 09:56
    -3

    I want to negative this!

    • animal on 17/06/2015 - 07:47

      But I thought you were a happy boy?

  • SlickMick on 16/06/2015 - 10:06

    Businesses should have a right to choose what services they provide and what they charge for them. As a consumer, we can avoid businesses that don't offer the services we want at the price we're willing to pay, hence encouraging the behaviour we want.

    However, government organisations and those that should be but have been sold off, are another matter. (They don't necessarily care whether the consumer is happy with the service.) As taxpayers, we probably should have a say in what services are provided.

  • adante on 16/06/2015 - 10:10
    +5

    I'm a big fan of EFT, credit card and paypass schemes. They make my life as a consumer very convenient. I use them when possible.

    But I don't think 'minimum eftpos' or 'cash only' policies should be banned. Infact, I also believe a shop should have the right to pass the excess charge on to the customer (although I do tend to frown on margins being charged here).

    As previous posts have mentioned there is an overhead for all of these electronic payment schemes. I don't think the retailer should be FORCED to absorb these.

    If they want to charge extra for these, or offer incentives for cash-only, or institute a cash-only policy then I will weight the cost-benefit and vote with my feet. I see no (ethical) reason why retailers should be compelled to do otherwise.

    • JimmyF on 17/06/2015 - 11:07
      +1

      Having a minimum eftpos limit is a way of passing on/absorbing the fee nicely.

      ie you buy a $1 coffee, would you get upset if the retailer charged you 30c + 2% fee on top of this? ie charged you $1.32 for your $1 coffee to pay via card?

      Why should the retailer lose 32c on a $1 sale? The real issue is the BANKS.

      • adante on 17/06/2015 - 17:29
        -1

        It is, but I still think it should be the choice of the retailer.

        If he/she wants to blanket ban electronic transactions, while I personally think it would not make good business sense, I do feel like they should have the right to do so. Just as I have the right to take my business elsewhere.

        To be honest 30c of a $10 sale (aka 3% of the typical nominal minimum transaction) is still pretty crummy IMO.

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