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>All that will likely happen is merchants will increase their prices and those without reward cards will end up paying more and getting less. It’s probably why
by M2Ys4U 8y ago
>All that will likely happen is merchants will increase their prices and those without reward cards will end up paying more and getting less. It’s probably why on so many sites (especially airlines!) I have to pay ‘2% credit card processing surcharge’.
Those fees have been banned in the UK (I think it might be an EU regulation) now
- logifail 8y agoIf I go to Transferwise to buy foreign currency, I'm charged the same additional fee whether I fund my transfer from a debit or a credit card. This doesn't seem right as it must be more expensive for them to process a credit card payment.
- cbzoiav 8y ago0.2% interchange on debit cards vs 0.3% on credit card. Within the EU they can't legally charge a card fee but can choose to say not accept credit cards or to charge a top up fee to all payment methods.
- logifail 8y agoTransferwise do charge a card fee, here's what their UI has just offered me at the final confirmation screen: "Choose your transfer type Bank transfer Low cost transfer - 2.54 GBP in total fees Send the money from your bank account. Debit card/Credit card Fast and easy transfer - 3.54 GBP in total fees" That's a surcharge for paying by card vs a bank transfer.
- cbzoiav 8y agoIt is EU and it doesn't apply to AMEX branded and issued AMEX cards (it does to say a British airways AMEX but not the platinum cashback cards).