Local MP, Caroline Dinenage, has welcomed the announcement that the Government are banning unfair credit and debit card fees.
In 2010 alone the total value of surcharges for debit and credit cards was an estimated £473 million. The new rules, which come into effect in January 2018 will ban companies from all bank card charges.
'Surcharging' is common practice across the country - with businesses ranging from takeaway apps to global airlines charging people to make card payments or for other services such as Paypal. The government has previously capped the costs that businesses face for processing card payments, and will engage with retailers to assess if there is any more that can be done to help.
While many industries have acted to absorb the cost and not pass these on to consumers, these rules will bring an end to the practice entirely. The rules will also tackle surcharging by local councils and government agencies.
"These small charges can really add up and this change will mean shoppers across the country have that bit of extra cash to spend on the things that matter to them.
I am pleased that the Government are committed to ending these unfair fees."
Click here to contact Caroline.