50p charge for using Debit cards to be banned in January

[FlakGunna]

This is wonderful news! I am for extremely happy about this, it's so convenient using your card in stores but that 50p charge annoys the hell out of me. One greedy ****** in a shop near me charges £1 to use it at the moment! I can't wait to see his face when he can no longer do it in January.

https://www.moneysavingexpert.com/news/cards/2017/07/credit-debit-card-fees-to-be-banned

(I know it was said in July but I only heard about it today)

 

[Monkeynut]

Your local Chinese will still do it. It just will.

 

[dowie]

strip clubs will lose out, a friend told me that they add on big fees if buying drinks etc.. with a card

 

[spoffle]

Your local Chinese will still do it. It just will.

Chinese takeaways that take card? What backwards place do you live in? "Tax" and "fees" aren't in the vocabulary of the Chinese places local to me.

strip clubs will lose out, a friend told me that they add on big fees if buying drinks etc.. with a card

Surely they'll just increase the price they charge for drinks to compensate.

 

[dowie]

Surely they'll just increase the price they charge for drinks to compensate.

perhaps... but that would be fairer (well it would be if they find some middle ground between the current cash price and the current debit/credit card price)

if they just inflate them across the board then they could well start to lose some business

likewise if they have some form of alternative currency (I think this is implemented in some clubs but I don't have direct experience of this), like they have the option for someone to buy "dancing dollars" or something rather than having to trek to a cashpoint then any surcharge there could be dodgy... and if they start trying to charge different rates of conversion to get around the surcharge then you could get confused and potentially upset drunk people

 

[asim18]

Surely they'll just increase the price they charge for drinks to compensate.

Exactly. Same with any small indie shop owner too.

Which is why this is just a charade to help the elite make a little more money.

The small indie shop owner will still have to pay fees on card processing, so they're just forcing the shops to either increase prices or to eat into their profits.

Not only will the poor shop owner be FORCED to accept exponentially more card payments (cutting even more money for visa/whatnot), but the money has to come out of his own pocket?? Unbelievable. What is going on seriously.

 

[Rannoch]

Just eat ripoff will stop then lol

 

[Hades]

Occasionally I've found it annoying to be told there will be a charge. But a few seconds afterwards I've appreciated why the small shop owner has to pass on that charge and I don't mind it.

 

[Fishbait]

^That.

They'll just increase cost of everything, so everyone'll end up paying more.

 

[asim18]

This is wonderful news! I am for extremely happy about this

This is horrible news.

'Good news... but expect some companies to raise prices to compensate'

Some comapanies? Seriously? Asda, Tescos aren't suddenly going to raise prices to compensate ffs. The only companies who are going to be really affected are the already struggling independents, who are the ones who HAVE to charge the fee in the first place!

 

[FlakGunna]

Occasionally I've found it annoying to be told there will be a charge. But a few seconds afterwards I've appreciated why the small shop owner has to pass on that charge and I don't mind it.

That's all fine and well, but when you have a greedy git near me who charges £1 on all debit card transactions and the stuff he sells in store is already overpriced compared to other places it isn't justifiable.

This is horrible news.



Some comapanies? Seriously? Asda, Tescos aren't suddenly going to raise prices to compensate ffs. The only companies who are going to be really affected are the already struggling independents, who are the ones who HAVE to charge the fee in the first place!

Run a small indie shop do you, Asim?

 

[dowie]

^That.

They'll just increase cost of everything, so everyone'll end up paying more.

Not quite so easy.. I mean if they could do that without affecting their business then why do they need an excuse to do it - why not increase prices today - easy money surely?

Fact is they're already competing with say the likes of Tesco express and similar who don't have these charges

 

[asim18]

That's all fine and well, but when you have a greedy git near me who charges £1 on all debit card transactions and the stuff he sells in store is already overpriced compared to other places it isn't justifiable.

Of course it's justifiable. They're basically FORCING society into using a payment method which AUTOMATICALLY creates a cut for the elite who are running it.

There's no processing fees on cash are they? Therefore there is nothing wrong with the charge being passed onto the final customer.

No I don't run a shop. But I use indie shops 9 times out of 10, it's a much more friendlier and personal experience. Going into Tesco to buy something small is horrible. Bottle of Oasis is £1 in local corner shop, tesco it's £1.25~

The thing is customers of small shops don't buy their whole shopping there, if these fees get charged per transaction that is just unbelievable.

Run a small indie shop do you, Asim?

No I don't run a shop. I just care about people other than me and the elite.

Also, the indie shop boss cares about his local customers too.

You think the boss of Visa/national supermarket knows anything about his customers? No, he's chilling on a remote island somewhere laughing at the slaves who fighting for a job to work in tesco for him on minimum wage while he rakes it in while sipping cocktails.

I can walk into my local indie shop, pick up some drinks and walk right out without even paying, because the guy behind the counter knows who I am and knows I'm not a thief.

That is the kind of relationship people should be trying to attain within their local community. Not calling the boss of their local indie shop a"greedy git", seriously?

Is he really a greedy git? or is the boss of Visa greedy? You need to think about all the variables and have some perspective.

 

[FlakGunna]

Of course it's justifiable. They're basically FORCING society into using a payment method which AUTOMATICALLY creates a cut for the elite who are running it.

There's no processing fees on cash are they? Therefore there is nothing wrong with the charge being passed onto the final customer.

No I don't run a shop. But I use indie shops 9 times out of 10, it's a much more friendlier and personal experience. Going into Tesco to buy something small is horrible. Bottle of Oasis is £1 in local corner shop, tesco it's £1.25~

The thing is customers of small shops don't buy their whole shopping there, if these fees get charged per transaction that is just unbelievable.

Why should we be charged to spend our money? it works both ways. If it's such a problem then these small indie shops or what shouldn't use terminal transactions in the first place, just accept cash only.

And I disagree, as I already stated, charging £1 per debit card transaction compared to the usual 50p everywhere else, I've never known a shop to charge £1. Also his prices for food and drink is more expensive than a shop further along the road. So no, that isn't justifiable. Example, £1 for a pack of Extra chewing gum? they are about 40p everywhere else. A can of Stella Artois £1.60 this isn't even the pint can either. Walkers Crisps, £1. Cans of drink, £1. There is no way he has to charge that much. That is greed.

Tesco, Asda etc don't charge 50p anyway so we don't have any concern there.

Also, the indie shop boss cares about his local customers too.

You think the boss of Visa/national supermarket knows anything about his customers? No, he's chilling on a remote island somewhere laughing at the slaves who fighting for a job to work in tesco for him on minimum wage while he rakes it in while sipping cocktails.

It's a dog eat dog world, you can say that about any thing in this world, big businesses, corporations, they all do it.

You seem to be really affected by this? not quite sure why as it doesn't affect you in anyway whatsoever seeing as you do not use a payment terminal or run a shop.

 

[asim18]

Why should we be charged to spend our money? it works both ways.

You're not getting charged to spend your money. There's no charge for spending cash. You're getting charged to use your Visa/MasterCard; because the people running the Card networks demand a cut of the money for transactions.

Just because the shop owner is passing the charge onto the final customer, doesn't mean he's the one who created the charge, hes just passing it on, and rightfully so. Why should he have to pay money just for getting paid.

Tesco, Asda etc don't charge 50p anyway so we don't have any concern there.

They should start charging, and more people should be using cash.

More people who use cash means less money for some truly greedy corporate who wants a continuous cut of every single transaction in the world, just because they trademarked Visa and MasterCard and run some wires to almost fully autonomous systems.

 

[FlakGunna]

More people who use cash means less money for some truly greedy corporate who wants a continuous cut of every single transaction in the world, just because they trademarked Visa and MasterCard and run some wires to almost fully autonomous systems.

Welcome to Planet Earth, this is how it works for most things.

Oh well, it's coming to an end on the 13th of January. Good riddance.

 

[muon]

You're not getting charged to spend your money. There's no charge for spending cash. You're getting charged to use your Visa/MasterCard; because the people running the Card networks demand a cut of the money for transactions.

Just because the shop owner is passing the charge onto the final customer, doesn't mean he's the one who created the charge, hes just passing it on, and rightfully so. Why should he have to pay money just for getting paid.

Those fees themselves have been heavily cut.

0.3% for credit cards and 0.2% for debit cards.

https://www.psr.org.uk/psr-publications/news-announcements/PSR-sets-out-approach-to-IFR

 

[Haggisman]

That's all fine and well, but when you have a greedy git near me who charges £1 on all debit card transactions and the stuff he sells in store is already overpriced compared to other places it isn't justifiable.

Why do you shop there then?

If he's still in business despite being more expensive than everywhere else, along with charging a high card fee, then he's obviously doing something which justifies those prices/charges, otherwise he'd have no customers

 

[spoffle]

Exactly. Same with any small indie shop owner too.

Which is why this is just a charade to help the elite make a little more money.

The small indie shop owner will still have to pay fees on card processing, so they're just forcing the shops to either increase prices or to eat into their profits.

Not only will the poor shop owner be FORCED to accept exponentially more card payments (cutting even more money for visa/whatnot), but the money has to come out of his own pocket?? Unbelievable. What is going on seriously.

Why are you so fixated on the elite and that sort of stuff? Card processing companies are waiving fees to some extent, in an attempt to increase the amount of places using card. Visa is waging war on cash.

But shops don't have to take card if they don't want to. I know plenty of places that only take cash and they're often packed.

perhaps... but that would be fairer (well it would be if they find some middle ground between the current cash price and the current debit/credit card price)

if they just inflate them across the board then they could well start to lose some business

likewise if they have some form of alternative currency (I think this is implemented in some clubs but I don't have direct experience of this), like they have the option for someone to buy "dancing dollars" or something rather than having to trek to a cashpoint then any surcharge there could be dodgy... and if they start trying to charge different rates of conversion to get around the surcharge then you could get confused and potentially upset drunk people

They could just stick a cash point in the place itself.

 

[dowie]

They could just stick a cash point in the place itself.

they could but they'd not get away with the same sorts of charges for cash withdrawals as they currently get away with for credit/debit transactions... in fact I'd presume that cash machines would generally be run by a third party companies and simply give the venue a cut of the £1.50 fee or whatever it comes to