Excessive Surcharges after 1 Sep

[N860CR]

Just thought I'd do a bit of a running survey to see which major corporations are still charging excessive surcharges post the 1 Sep ACCC deadline. So far I've crossed;

Vodafone - 2.15%
TPG - 3.13%

These have not changed at all since the 1 Sep cutoff

 

[Mr_Orange]

What was changing on 1st September?

 

[opusman]

What was changing on 1st September?

For large companies, CC surcharge limited to actual costs.

 

[DeKa]

Vodafone - 2.15%

Their own site says
Card typeFee
Visa0.486% + GST
Mastercard0.228% + GST
Diners Club2% + GST
American Express (AMEX) 2.15% + GST

2.15% seems fine for Amex. MasterCard and Visa look like good rates.

http://vodafone.intelliresponse.com...ing+fees&requestType=NormalRequest&source=100

 

[Pleb Status]

Telstra have dropped from 1.1% to 0.33% for MC, Visa and Amex.

 

[liamsal]

Just booked with Mantra and Amex CC surcharge was 3.35%

 

[Aussie_flyer]

Just booked with Mantra and Amex CC surcharge was 3.35%

Rydges are terrible for this too

 

[N860CR]

Their own site says
Card typeFee
Visa0.486% + GST
Mastercard0.228% + GST
Diners Club2% + GST
American Express (AMEX) 2.15% + GST

2.15% seems fine for Amex. MasterCard and Visa look like good rates.

http://vodafone.intelliresponse.com...ing+fees&requestType=NormalRequest&source=100

For a business the size of Vodafone, 2.15% is far too much (most small businesses would do better than that). Especially given Telstra are charging 0.30%.

 

[lovetravellingoz]

For a business the size of Vodafone, 2.15% is far too much (most small businesses would do better than that). Especially given Telstra are charging 0.30%.

I agree...so will the ATO reduce its ridiculously large Amex surcharge too?

 

[N860CR]

I agree...so will the ATO reduce its ridiculously large Amex surcharge too?

Hopefully... report to the ACCC. They work on volume (well, they rarely work at all, but we have to start somewhere)

 

[Mr_Orange]

Just booked with Mantra and Amex CC surcharge was 3.35%

Rydges are terrible for this too

I might be wrong, but aren't Rydges part of the Mantra group?

 

[VPS]

and aren't taxis still 10% surcharge for cards plus GST - still not sure how they get away with it

 

[albyd]

5% in NSW but still too much. Everyone has wireless card acceptance even with square readers now. Can't cost them that much to process payments.

 

[serfty]

I agree...so will the ATO reduce its ridiculously large Amex surcharge too?

!?!??

1.45% is hardly ridiculous ... and their Web site states that's what they pay the card provider ...

 

[albyd]

I agree whilst 1.45% might seem a little high for Amex it's a moot point since outside of Westpac Kris Amex, most Amex's don't work anymore or offer very poor earn.
Agree 0.42% for the shrinking number of Visa/MC options is 'acceptable' & any lobbying to reduce them might have the opposite effect. Best to keep it off their radar.

 

[dajop]

Interesting was looking at some flights on bestjet, these do seem somewhat excessive

A merchant surcharge is a percentage of the total airfare cost. It is subject to the type of card used to make payment. The total amount for the booking will show once the card number is ntered. There is a 0% fee for Visa Debit cards and a 2.9% fee for foreign (non AU) Credit cards. Below are the percentages for each payment method:

0%

1.5%

1.9%

1.9%

3.5%

3.5%
​

Also find it not surprising, but amazing the cut that credit card companies and banks extract from foreign card transactions - 2.9% to merchant (if this is accurate) and about 3% to consumer. Sucking out 6% ..... when I can transfer small amounts of money by various providers and all they suck out its about 1 - 1.2%. Rent seeking at its worst.

 

[jastel]

In General -
Company turnover limit of $3000000 for first stage.
Taxi operators dont make that.
Stage 2 will include Taxis from Sept 17 I think.
Many state governments have limited the charges to 5% already.

Uber still taking 20 - 25% but.

 

[dajop]

Uber still taking 20 - 25% but.

Somehow don't think that Uber is taking a 20-25% credit card fee... there's more to the uber business model than just paying merchant fees on the credit cards its customers use.

 

[Pleb Status]

In General -
Company turnover limit of $3000000 for first stage.
Taxi operators dont make that.
Stage 2 will include Taxis from Sept 17 I think.
Many state governments have limited the charges to 5% already.

Uber still taking 20 - 25% but.

Taxis are specifically excluded from the RBA surcharging regulations.

 

[jastel]

True, but it is still an excessive "surcharge" for doing about 25 cents worth of work...and it ALL goes overseas with no tax payable to Australia.
The Taxi Cabcharge surcharge also subsidises the governments disabled transport discount schemes, it has different names in different states.