Excessive card surcharging is now banned for all businesses, continuing the Turnbull/Joyce Government’s immediate-action approach to delivering fairer financial services for the people of the New England Electorate.
“This action will ensure the people of New England are not ripped off when they make purchases with their cards. This 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,” Deputy Prime Minister and Member for New England, Barnaby Joyce, said today.
“As locals get set for the footy finals they can purchase tickets and airfares free of inflated card payment surcharge hits. This is practical action from the Turnbull/Joyce Government and delivers immediate results for New England households.
“Even the everyday practice of getting a coffee from your local café on eftpos will now be free of a card surcharge, which I’m sure locals will appreciate.”
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 now all businesses will need to cease any excessive surcharging. If they continue to impose a charge for card payments, they must restrict it to their reasonable cost of acceptance of the payment.
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.
Consumer watchdog the ACCC will act as a strong cop on the beat to police these rules. If people find that they are being hit with an excessive surcharge when they go to the shops, buy tickets online or book a holiday, they should not hesitate to contact them on 1300 302 502.
The Turnbull/Joyce Government is getting on with the job of acting now to deliver a fairer playing field for the families and businesses of New England when it comes to financial services. Our sole focus is on delivering real outcomes, not years of talk.
Further guidance for businesses and consumers is available at: www.accc.gov.au.