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Credit card surcharges

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Posted by cgm cgm
Message 1 of 4 748 Views

What is Bankwest's position on companies charging Bankwest customers excessive credit card surcharges? Smiley MadSmiley MadSmiley Mad

 

Turn my frown upside down please @PeteW@SarahF and @LyndsC!

 

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Re: Credit card surcharges

Posted by thewinchester thewinchester
Message 2 of 4 740 Views

I doubt BWA would get involved @cgm, unless the merchant is using one of their terminals. Haven't seen the BWA merchant services agreement in a while either, so not sure if it has language in this area.

 

My personal advice - if you feel that a merchant is charging an excessive fee for accepting any form of electronic payment, always contact the Consumer Affairs agency in your state or territory. This is something they are always interested in, and I know from personal experience they often take action on.

 

There was one local WA restaurant, bearing the name of a famous international chef, who a few years back when they opened were charging 8% regardless of if using a credit or debit card. A quick call to DOCEP as they were then known saw that kind of price gouging knocked on the head and brought back down to earth in just over a week.

 

Any fees for electronic payments should only be a fair reflection of the actual cost. And let's be honest, business save money and substantially reduce their risks/exposure when customers use electronic payments, so there's really no excuse for passing these costs on.

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Re: Credit card surcharges

Posted by cgm cgm
Message 3 of 4 735 Views

Thanks for all this useful information @thewinchesterSmiley Happy  

 

However, I am interested in Bankwest's position on this, as it's Bankwest customers using Bankwest products being charged these unjustifiable surcharges.

 

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Re: Credit card surcharges

Posted by LyndsC LyndsC
Message 4 of 4 720 Views

Hi @cgm, thanks for your question, the option of whether a surcharge is added to credit card payments is a decision made by the individual merchants. While I can certainly answer any enquiries or questions about our products or services, I can't speak on topics such as this one.

 

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