Keep your money in your pocket, avoid payment surcharges
The Commerce Commission recently undertook consultation with businesses and consumers on surcharges and how to reduce them. These are the extra fees charged by a merchant to cover their costs. While they finalise their findings and draft their recommendations, they have some tips to help avoid surprise fees when making card payments:
- Sellers are expected to offer at least one payment method that does not incur a surcharge. Usually for in-person card payments you can insert or swipe your debit or Eftpos card, rather than using the contactless function to avoid a surcharge.
- Surcharges above 2% are likely too high, if you notice an excessive surcharge in your area, you should report it to the Commerce Commission and consider shopping elsewhere.
Any surcharge must be clearly disclosed at the point of sale. For more info on surcharging view the fact sheet.
