Sick of getting slugged with huge surcharges for paying with card? Well, from today all businesses in Australia are officially banned from charging customers too much for EFTPOS, Mastercard, Visa and American Express payments.
Tagged With surcharges
Domino's Pizza will be jacking up its menu prices by 10 per cent on Sundays. This surcharge has been introduced due to an increase in weekend penalty rates for Domino's workers. If you're currently watching your pennies, the smart move here is to avoid Domino's Pizza on Sundays entirely. Problem solved!
Back in February, the Federal Government passed a bill to give the Australian Competition and Consumer Commission (ACCC) the power to rein in companies that slug customers with a high fee when they pay with their credit cards. Today, the law finally came into effect -- which means those ridiculous surcharges for using EFTPOS, MasterCard, Visa and American Express are officially banned. Hurrah!
The days of companies charging ridiculous amounts of surcharges just because customers are paying with plastic are coming to an end. The Federal Government has passed a bill that will give the Australian Competition and Consumer Commission (ACCC) the power to rein in companies that slug customers with a high fee when they pay with their credit cards. Here's what you need to know.
The government is currently overhauling Australia's financial system, in a bid to make it more resilient to any future financial crisis we might face. One of the main reforms currently being pushed by Turbull's government is increased regulation of the surcharges that merchants are allowed to charge on credit card transactions. It seems excessive fees are finally being kicked to the kerb.