ACCC Bans Excess Surcharging by Large Businesses - Save on Excess Credit Card Fee for Bookings Made from 1st September 2016

OSA on 05/09/2016 - 11:31
Last edited 05/09/2016 - 11:50 by 1 other user

Moved to Forum: Original Link

There is finally a savings coming on excess creditcard fees from 1st September.

Basically it means that there is no $8.50 surcharges per booking from these low cost air carriers. But can only charge what their merchants are charging them.

Copy from ACCC website:

"The RBA has indicated, as a guide, that the costs to merchants of accepting payments by debit cards is in the order of 0.5%, by credit card is 1-1.5%, and for American Express cards it is 2-3%. Some merchants’ costs might be higher than these indicative figures".

It applies to large businesses only at the moment, small businesses have upto 1st September 2017 to make the changes.

Related Stores

ACCC

• 

  SBOB on 05/09/2016 - 11:32

  +3

  "Basically it means that there is no $8.50 surcharges per booking from these low cost air carriers."

  Assuming the same fee wont end up somewhere else in the price of the ticket ;)

• 

  grimace3 on 05/09/2016 - 11:34

  +3

  I don't see how this is bargain worthy?

• 

  flangeflange on 05/09/2016 - 11:44

  +1

  no bargain disclosed

• 

  [Deactivated] on 05/09/2016 - 11:46

  whats the bargain here?
  should be forum post

• 

  bemybubble on 05/09/2016 - 13:05

  I wonder will this go for Village Cinemas with their excessive booking fee for goldclass?

  • 

    dasher86 on 05/09/2016 - 13:59

    a booking fee is different from a 'credit card' fee.
    Though a booking fee may incorporate a credit card fee.

• 

  Fancy on 05/09/2016 - 13:51

  +1

  "The cap on these pesky fees is largely thanks to Klaus, who used Change.org to campaign for three years."
  http://blog.change.org/change-au/4-things-that-restored-our-…

• 

  retiredfeline on 05/09/2016 - 14:10

  +1

  It's not a "saving", just the end of a ripoff.