Excessive card surcharging will be banned from all businesses from today, 1 September, meaning more money remains in the pockets of consumers across the north.
Northern based Government Senator Ian Macdonald welcomed the latest action by the Turnbull Government to help deliver fairer financial services for people.
“This action will ensure communities right across the north aren’t ripped off when they make purchases with their cards,” Senator Macdonald said.
“It will give our community the confidence that card surcharges reflect the true cost of the transaction, not an artificially inflated sum designed to profit gouge.”
The extension of the ban to all businesses from today follows the regime applying to large businesses from 1 September last year.
Smaller businesses were granted extra time to prepare for the ban, but from today, all businesses will need to stop excessive surcharging. If they continue to impose a charge for card payments, it must be restricted to the reasonable cost of acceptance of the payment.
Senator Macdonald said businesses have been on notice for more than a year to review their surcharging practices and make sure they understand and comply with their obligations.
The ban will be monitored by the ACCC.
“If people find they have received an excessive surcharge when they go to the shops, buy tickets online or book a holiday, they shouldn’t hesitate to contact the consumer watchdog on 1300 302 502,” Senator Macdonald said.
Further guidance for businesses and consumers is available at www.accc.gov.au