Is Telstra stealing 0.005c from every credit card transaction?

LTogTogTogTog on 14/05/2022 - 08:08

Got into a discussion with Telstra after the recent Prize/Point Promotion, ending up trawling through my payments.

Does anyone realise Telstra changed the credit card transaction costs and now round-up…

Before Jan22, my bills were a consistent $55.18 with Telstra confirming a 0.182c for a credit card transaction or $55.36 if direct-debit bounced (0.182*2 = 0.364c.

After Jan22, If I bounce it now costs - $55.37 with Telstra confirming it's an 0.182c/0.183c transaction = 0.365c

So from Jan22, is Telstra now rounding up all credit card transactions? Are they stealing 0.005c per CC charge?

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Comments

  • JoeBogan on 14/05/2022 - 08:20

    Telstra has a subscriber base of 6.3 million, assuming they charge everyone (highly unlikely) 0.005 cents they make a whopping $31,500.

    Definitely wouldn't call that stealing, sounds more like a billing issue lol but it you can be bothered making this post about 0.005 cents, couldnt you just have the funds ready in your account instead of it bouncing?

    • TogTogTogTog on 14/05/2022 - 08:29
      +1

      I do, Telstra has a stupid way of hitting it so it bounces, then I yell at them and they refund the transaction costs. I only noticed when they refunded these and the final difference was -0.005c.

      And remember, that is for every 'bounced' charge. It would be half your figure for regular charges so like $15750, every month forever.

  • RockyRaccoon on 14/05/2022 - 08:36
    +2

    Its called Inflation!!

    BTW just call them back and yell again. Maybe they will refund you the 0.005c

    Also its $0.005

    Technically the way you wrote it, you should put. 0.5c to be half a cent.

    https://study.com/academy/lesson/how-to-write-amounts-of-mon…

    (note this is not implying you are a kid, its just the website explains it well).

  • 7ekn00 on 14/05/2022 - 08:37
    +3

    It's Telstra, of course they have :P

  • SBOB on 14/05/2022 - 08:44
    +2

    I'd like my 0.005c back

    If you're doing your finances to this level of accuracy, you're clearly taking the phrase 'look after the cents and the dollars will take care of themselves' to an extreme new level…

    • TogTogTogTog on 14/05/2022 - 08:48
      +1

      I'm not, didn't know nor care for about 9mths. It was only when getting that free 1k points I noticed, and I do maths/coding for work so i notice wrong numbers like instantly lol.

    • RockyRaccoon on 14/05/2022 - 08:54
      +1

      'look after the cents and the dollars will take care of themselves'

      So would this mean if you

      'look after the half cents and the dollars will doubly take care of themselves'

  • avoidfullprice on 14/05/2022 - 09:07
    +4

    Is to cover the cost of the TPS report

    • StingyBritches on 15/05/2022 - 07:55
      +1

      We’re gonna have to move your desk, okaaay?

    • dmbminaret on 15/05/2022 - 08:18
      +2

      I'm going to set fire to the building.

  • JIMB0 on 14/05/2022 - 09:15

    Use PayPal and save yourself the fee entirely.

  • Typical16-bitEnjoyer on 14/05/2022 - 10:15

    Stop using direct debit? Crazy i know, but it just might work!

  • AustriaBargain on 14/05/2022 - 10:34

    Telstra probably have built a real life Goldeneye weapon satellite, and after they steal all of our 0.005 centses they will fire the Goldeneye and destroy all records of the theft so they can get away with it.

  • SmiTTy on 14/05/2022 - 10:55
    +4

    Telstra will probably give u a refund if u ask them. But they'll probably roud down

  • hatchbackracehorse on 14/05/2022 - 12:03
    +2

    Imagine not only letting Telstra have direct debit access to your account, but letting them charge you a fee for the privilege.

    • dmbminaret on 15/05/2022 - 08:20

      I wouldn't give Telstra access to my dog's birthday.

  • Daabido on 14/05/2022 - 12:04
    +1

    0.182c ≠ $0.182

    https://www.youtube.com/watch?v=MShv_74FNWU

  • p1 ama on 14/05/2022 - 13:13
    +1

    Got into a discussion with Telstra

    If they really are "stealing" $0.005 every month, that's $0.06 every year. If you are with Telstra for 60 years, that's a grand total of $3.60. Great use of your time.

    • Ryanek on 14/05/2022 - 15:51
      +3

      It's the principle though. You should look up Aman Shah, a Malaysian bank exec who stole 1c from every one of his clients bank accounts and amassed millions.

      • avoidfullprice on 14/05/2022 - 16:53
        -1

        If people pay $20 cash for $20.02 groceries, are they stealing?

        If people pay $20 cash for $19.98 groceries, are they robbed?

        • dmbminaret on 15/05/2022 - 08:25
          +2

          If there were still 1& 2c coins, yes. Cash is rounded as there is no alternative, OP is talking about digital transactions in 2022.

          If people pay $20 cash electronically for $19.98 groceries, are they robbed?

          Yes.

        • Ryanek on 15/05/2022 - 09:14
          +1

          Hmm at what dollar amount does it become stealing then?

      • dmbminaret on 15/05/2022 - 08:27

        Absolutely the principle and Telstra have multiple questionable principles.

    • dmbminaret on 15/05/2022 - 08:28

      a grand total of $3.60. Great use of your time

      I would take them to task on less.

  • dmbminaret on 15/05/2022 - 08:35

    I have zero services with Telstra and never will again.

    This is still before the OAIC, currently going to the commissioner for a decision:

    https://forums.whirlpool.net.au/thread/9mj2pv53

  • JPMelb on 15/05/2022 - 10:52

    Sounds like Superman 3

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