Credit Cards Charges now history

[mercalia]

Just heard about this by accident that as of 13th January charges for using a credit card are no longer legal but ---

https://conversation.which.co.uk/shopping/new-card-surcharge-ban-psd2/?utm_source=whichcouk&utm_medium=email&utm_campaign=campaignsupporters120118

come back thru the back door?

[fossala]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

[mercalia]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

more likely BOOST their profits as in effect chargle EVERY ONE the amount that only card payers would pay

[pete75]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

Very, very few businesses make a charge for people using credit cards.

[[XAP]Bob]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

Very, very few businesses make a charge for people using credit cards.

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash...

[pete75]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

Very, very few businesses make a charge for people using credit cards.

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash...

Really - which major retailers have a hidden extra charge applying only to CC payers?

[rjb]

I wonder how long it will take for there to be a discount for cash...

Banks will charge small business's to deposit cash. No free lunch here then. Free banking is not looking very long term even for residential customers.

[Psamathe]

The idea that companies are just going to take the hit of CC charges and not pass it on to the consumer one way or the other is ignorant. What this will do is distribute the CC charges across all customers because it will be reflected by an increase in all prices to keep profit margins at an acceptable level.

Very, very few businesses make a charge for people using credit cards.

And I found out today that card companies don't charge for contactless anyway. I was in a shop and they asked me to use contactless (which I never use) and I asked "out of interest, why?" and they said "no commission/charges, card companies treat it as cash".

Ian

[[XAP]Bob]

Very, very few businesses make a charge for people using credit cards.

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash...

Really - which major retailers have a hidden extra charge applying only to CC payers?

The fact that the charge is spread out doesn’t make it any less of a charge.
In the same way that they charge people for heating and lighting the shop...

[pete75]

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash...

Really - which major retailers have a hidden extra charge applying only to CC payers?

The fact that the charge is spread out doesn’t make it any less of a charge.
In the same way that they charge people for heating and lighting the shop...

But they're not charging only people who use cards are they? In any case taking credit card payments is an advantage to a business not a disadvantage.

[[XAP]Bob]

Really - which major retailers have a hidden extra charge applying only to CC payers?

The fact that the charge is spread out doesn’t make it any less of a charge.
In the same way that they charge people for heating and lighting the shop...

But they're not charging only people who use cards are they? In any case taking credit card payments is an advantage to a business not a disadvantage.

No - they are charging everyone else for that fact that some customers want to use a c.card rather than a d.card or cash.

I'm sure all payment methods have some cost associated, but particularly with small transactions card charges can be extremely high.
Places around here that have CC charges tend to have them only below a certain transaction value for this reason.

And there are a number of chains which haven't accepted c.cards as a result of the charges they faced.

[Psamathe]

I am glad that paying VED will no longer mean arguing with them about their credit card surcharge (something that made them an extra £8+m a year).

Often ended-up having an argument with them as their credit card recognition never worked properly and they surcharged my debit card, so I had to call them register a formal complaint, argue about it, get it escalated, etc. and then eventually get a refund (sometimes with a "gesture of goodwill" added to the refund).

Ian

[Ben@Forest]

Very, very few businesses make a charge for people using credit cards.

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash...

Really - which major retailers have a hidden extra charge applying only to CC payers?

I have just picked up a new bike. It's enjoying it's first ever cafe stop right now(!). The cost cash (or debit card) was £120 less than if I'd paid by credit card. LBS tho not a major retailer.

[Stevek76]

Cash isn't usually any cheaper for the shop so the act of charging card payers only is a bit odd.

As are minimum payments for credit cards. The interchange fees on debit is a fixed amount, on credit it's a %. As such it's actually less for a credit card for small amounts. This might vary depending on the shops deal with the machine provider though which adds an extra layer of fees/mess.

[Psamathe]

They do - they just don't make it explicit...
I wonder how long it will take for there to be a discount for cash... :roll:

Really - which major retailers have a hidden extra charge applying only to CC payers?

I have just picked up a new bike. It's enjoying it's first ever cafe stop right now(!). The cost cash (or debit card) was £120 less than if I'd paid by credit card. LBS tho not a major retailer.

Interesting aspect. I guess that for more major purchases, whilst a credit card can no longer be surcharged, offering cash might put you in a stronger position negotiating a discount.

Ian