'Excessive' credit and debit card fees to be banned
The government have delivered a bit of a Christmas present to the nation, with the news that ‘excessive’ fees for using a debit or credit card to buy items like travel, cinema or concert tickets will be banned by the end of 2012.
The charges won’t disappear altogether and companies will still be able to impose a ‘small charge’ that will cover payment processing, and the new rules follow an report published by the Office of Fair Trading which came on the back of a noisy complaint from our good friends at Which!
Regardless of the government’s plans, a European rule is scheduled to be introduced in mid-2014, stating that only the actual cost of processing card payments could be charged to consumers.
If we were a cynical bunch here at Bitterwallet, we’d suggest that with the removal of booking fees, the face value of travel, cinema and concert tickets will sneakily increase one the new rules have been implemented. But we’re not. Oh hang on, WE ARE.