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Scubagirl Feb 1, 11:58 a.m.
"Also, not many people know that if a merchant has the Mastercard or Visa symbol posted then they MUST accept your card. So, even if their POS system is down, they have to do it the old fashioned way. And they can't refuse to take your card for small payments.
Actually had a taxi in December refuse to take my card even tho' sign posted because the system was 'down'. Now I don't know if that was true or not, he also offered to drive me by an ATM-I declined, but I will NEVER use that taxi service again.
JohnnyMcRonny Feb 1, 10:36 a.m.
"AMEX and Discover do not allow the merchants to charge surcharges so if the Merchant charges Visa and Master card cardholder's surchages they cannot take AMEX or Discover cards." - sbrown
Aah - I've always wondered why that is.
Also, not many people know that if a merchant has the Mastercard or Visa symbol posted then they MUST accept your card. So, even if their POS system is down, they have to do it the old fashioned way. And they can't refuse to take your card for small payments.
DontVote4LiarsCheatsOrThieves Jan 31, 6:38 p.m.
sbrown - "Do reporters not read before they write."
This is a NEW government law.
Up until now, stores and business were not permitted to recoup those costs.
All we need to do is avoid those that pass this cost on.
DontVote4LiarsCheatsOrThieves Jan 31, 6:37 p.m.
spudmich - "In regard to the new credit card 'check out fees', what about a debit card used as credit?"
Debit cards are NOT affected. If you use it as a credit, however, it may well be because the store's computer is going to see it as a credit.
sbrown Jan 31, 3:19 p.m.
Do reporters not read before they write. Visa allows its merchants to charge surcharges only if they charge their competition also. AMEX and Discover do not allow the merchants to charge surcharges so if the Merchant charges Visa and Master card cardholder's surchages they cannot take AMEX or Discover cards. Also if the Merchant does business in states the forbid surcharges they cannot charge surcharges in the other states. So the only merchants that can charge surchages on Visa and Master card credit card customers are not nationwide companies and they only take Visa or Master Cards.
JohnnyMcRonny Jan 31, 2:01 p.m.
"Remember when gas stations used to charge an extra nickel per gallon at the pump..." - jbwhite2
Much to my disgust, this still happens. Just a year or so ago the Sheetz near Brier Creek charged me an extra 10c per gallon. It wasn't disclosed anywhere. I only noticed after I had finished pumping and looked at the price. I will never, ever buy from there again. Thankfully, other Sheetz stations were not charging extra.
Moral - don't assume those days are long gone and check the pump!
JohnnyMcRonny Jan 31, 1:58 p.m.
"the checkout fees will need to be disclosed on the receipt" - you mean after you've paid? Isn't that just a little bit after the fact?
"and posted in the store" - how exactly? In a dark corner on a noticeboard? The cashier should have to tell you.
spudmich Jan 30, 9:12 p.m.
In regard to the new credit card 'check out fees', what about a debit card used as credit?
NCSULandscaper Jan 30, 8:33 p.m.
The NC Dept of Rev charges a 2% fee when you pay withholding taxes online using a credit or debit card
Scubagirl Jan 30, 2:45 p.m.
I would like to see a follow-up listing of stores that DO charge this and add to it as more do, or remove if they stop. I will NOT pay a surcharge, already pay yearly for the 'privilege' of having a cc
itsyoureternalsoul Jan 30, 2:10 p.m.
This is because there simply is not enough profit in credit card$ and intere$t. I guess that is why every bu$ine$$ has it$ own credit card.
68_dodge_polara Jan 29, 5:53 p.m.
Please read the comment section below and you will find your answer.
norainonmyparade Jan 29, 4:29 p.m.
But why should it be illegal? The card companies are charging the merchants based upon your choice of payment so why shouldn't the merchant recoup the cost from you? 68_dodge_polara
Because they are ALREADY recouping the cost by factoring it in to the price of the item. This is gouging.
68_dodge_polara Jan 29, 3:16 p.m.
"because there is a limit to how much can be ripped off, recouped, added to, taxed, fee's etc to the consumer. "
How is it a rip off, or tax?
You didn't convince me.
Look we have been paying 3-4% more for every product under the sun because of these fees now we have an option to get the actual lower price because we might choose to not use a method that incurs such costs. You should be happy that you now have an option to not give credit card companies 3-4 % of every thing you purchase.
carolinagal78 Jan 29, 2:27 p.m.
I hadn't heard anything about this. Glad I read about it today. Thanks WRAL! Sometimes I have been known to run my debit as a credit.
blahblahblah Jan 29, 2:17 p.m.
I wonder if you get charged the fee for a purchase, say a sweater, and then return the sweater, do you get reimbursed the fee? I'm guessing probably not since the CC company still had to process your original purchase. That means you could possibly purchase and return something and still have a charge on your card (processing fee) and have nothing to show for it. Better make sure whatever you are purchasing is something you are going to keep! Just thinking out loud.
rachel Jan 29, 1:39 p.m.
"Why shouldn't the merchant recoup the cost from you"- because there is a limit to how much can be ripped off, recouped, added to, taxed, fee's etc to the consumer. Its called the cost of doing business, if you can't afford to do business without passing everything to the consumer, then obviously the product or service you provide doesn't have enough value in it to make it worth purchasing in the first place- if you offer a service as a merchant-then it is a service provided to your customers, not a service they are paying for ,for you to provide.
marciamal1 Jan 29, 12:46 p.m.
just another way to rip you off!!!
68_dodge_polara Jan 29, 8:16 a.m.
"When I first started reading this post, I was thinking "wait, that's illegal", probably because I've lived in 4 of the 10 states which prohibit this practice of adding a surcharge. Sad that NC does not prohibit this as well."
But why should it be illegal? The card companies are charging the merchants based upon your choice of payment so why shouldn't the merchant recoup the cost from you?
ncsqrl Jan 29, 8:04 a.m.
does this news apply to Discover cards as well? visa/mc issued by credit unions?
ncsulilwolf Jan 28, 12:58 p.m.
This is a great time to look at credit vs. debit transactions on bank-issued debit cards. Some retailers have the ability to process those transactions as "debit" for a lower transaction cost (which should prohibit them from passing along the 4% charge).
Faye Prosser - Smart Shopper Jan 27, 7:53 p.m.
That is correct, ncwife - it will need to be disclosed on the receipt and posted in the store.
ncveteranswife Jan 27, 7:01 p.m.
Walmart states it will not be participating according to World News tonight. Also, each individual store that is participating has to "post a sign" that can be seen so you don't have to ask them.
Faye Prosser - Smart Shopper Jan 27, 6:18 p.m.
wboughman, there is not a list of the companies who will be charging the extra fees. Merchants are not required to register with any national database if they are going to charge additional credit card fees so there is no way to know who is and who isn't until you ask specific stores.
Thanks for the additional information, ajross.
ajross20 Jan 27, 5:37 p.m.
Looking on numerous sites, it appears that there will not be any sort of fees for using a Debit Card.
This came off from the ABC News page:
"You also don't need to worry if you're paying by debit card, since those are excluded from the settlement agreement. Nor do American Express customers need worry: AmEx's contract with retailers forbids them from levying a surcharge."
Debit Cards (only if you use your Debit as a Debit) use systems such as Interlink, which is not VISA or MasterCard.
However, if you run your Debit Card like a Credit Card (where you sign and do not enter your PIN), you're still subject to the fee!
Hope this helps some.
wboughman Jan 27, 3:43 p.m.
Is there a list of companies who will be adding these fees for using credit cards?
jdouglas13 Jan 27, 2:16 p.m.
When I first started reading this post, I was thinking "wait, that's illegal", probably because I've lived in 4 of the 10 states which prohibit this practice of adding a surcharge. Sad that NC does not prohibit this as well. I really hope this will not apply to the use of debit cards, because I hate carrying cash.
Funny that you posted this now, Faye, because the other day I was thinking back to the era pre-ATMs when, if you needed to get cash at night or weekends, you had to go to the grocery store to cash a check. I was so glad when those days ended!
Road-wearier Jan 27, 1:14 p.m.
"I've already sent this to my legislators asking that they add North Carolina to the 10 states that ban the surcharge"
If you expect the Republicans to do this I'd also like to sell you a bridge in Brooklyn.
Road-wearier Jan 27, 1:12 p.m.
"No one will do anything about predatory CC practices. Interest, fees, late charges ....you have an industry there !"
It's not the banks charging the extra fee. It's the merchants. I detest banks but in the interest of fairness...
davidgnews Jan 27, 12:22 p.m.
No one will do anything about predatory CC practices. Interest, fees, late charges ....you have an industry there !
ckblackm Jan 27, 11:05 a.m.
I use a CC to balance my budget because it's easier to record transactions by downloading them (I pay it off each month). Companies that wish their free raise can expect me to go elsewhere. (They already accounted for the fees in their prices... I doubt they're lowering prices and then offering the fee).
LuvLivingInCary Jan 27, 10:01 a.m.
i already do it in my small business. the choice is theirs. i sell big ticket items and not many of them. i refuse to pay for their miles and rewards at the expense of my business. around 3.5% for the highest reward type cards.
people need to know that on a 1,000 purchase they are paying $35 to mastercard and visa...not the small business owner. so that 25000 mile reward plane ticket cost them $875. could have bought it at delta for less than $300.
people need to wake up and know the facts.
nylauren Jan 27, 9:22 a.m.
If a business is going to charge the extra fee for using Mastercard or Visa (they can't for American Express) they need to let the consumer know before checking out. Then the consumer can take their business elsewhere. I won't pay a surcharge as the business has already added it in to the price of a product.
oleguy Jan 27, 9:14 a.m.
Seems like most people are using CC to save them time and get rewards,, Or something for free... I see people using cards for a pac of smokes, a soda and a candy bar,,,, No one has cash anymore,, Well Attention,, You need to keep a supply of cash on Hand at all times,,, The govt and or terroist can shut down the CC system at any time,, CC are the mark of the beast
Nancy Jan 27, 8:36 a.m.
The odd thing is, people moved cc or debit card to do away with paper checks, this will probably increase the handling of paper by the banks, those who issue the cc's. Then they might raise bank handling fees again ...I feel like we're caught chasing our tail.
Faye, does this new fee that can be imposed apply to debit cards since they are often handled as 'credit' cards?
Faye Prosser - Smart Shopper Jan 27, 1:43 a.m.
Thanks for your feedback everyone. I am very interested to see how many businesses actually implement this surcharge.
As a small business owner myself, who sells products (coupon organizers and class dvd), I incur credit card processing fees with every online transaction. I simply adjusted the prices of online sales years ago to cover the extra credit card and online processing fees I incur.
I don't fault the companies that are now going to try and recover some of the cost of processing credit card transactions, but I will not pay by credit card if there is a less expensive cash/check option.
rebelbelle Jan 26, 11:44 p.m.
I've already sent this to my legislators asking that they add North Carolina to the 10 states that ban the surcharge. To me, this invites abuse.
I use a credit card rather than carrying cash for safety reasons. I'm one of those who pays it off every month so I incur no fee. I would suggest that those businesses who decide to do this will lose a lot of customers!
rachel6 Jan 26, 11:40 p.m.
I think this is great...as long as it isn't charged to debit or check cards. Perhaps it will encourage a little more financial responsibility if people can reduce price by paying with money they actually have. (Though it does suck for those of us who choose to run money through the credit card and then pay it off so we can collect points or miles.)
CarZin Jan 26, 11:09 p.m.
I look forward to seeing businesses trying to implement this. Its ridiculous. The fees that credit cards cost businesses are ALREADY in the price of goods. The stores that think they are going to get a quick 4% back are going to be really surprised how quickly business goes the other way. Unless the big stores decide to do this, and its really unlikely, if smaller businesses try this, they'll just go under. Its all been laughable. Everyone takes cards now, and everyone has adjusted the prices of their goods to make up for credit card fees.
WOLF EM Jan 26, 10:46 p.m.
Fees charged to a business by the credit card companies have gone up over the years. Reward cards even more! Retailers are funding the rewards the card companies give their customers. Margins at retail are smaller than ever expecially higher ticket items such as appliances and TVs. Often the margin the retailer is getting is less than 10 per cent and if a customer pays with a reward card he has to give up 3-5% to the bank for CC fees even on the sales tax amount. Few customers know this! The banks pile on the fees and the retailer often time is left with less than the bank gets. There is a cost of doing business and someone must pay. Hidden fees are costing all us and this may be something we see more and more of in the future. As the old saying goes "Nothing is free"
drcyndimd Jan 26, 10:19 p.m.
I'd be happy to pay with a check to get a "cash" discount. Otherwise, my business will have to go elsewhere. I only use Amex or Visa & pay them off each month. Regardless, I hope all stores participating will post their policy prior to the checkout line.
Dukefan1 Jan 26, 9:55 p.m.
It would make me think twice about shopping at a store that charges a surcharge.
jbwhite2 Jan 26, 9:52 p.m.
Faye, it usually costs 2-3% for a business to process your credit card. I am hoping that this will not apply to a debit card, where it is about a quarter to process. Checks usually cost a business, and cash slows things down, so retailers have to figure out what method they want, and incent people to do so. Remember when gas stations used to charge an extra nickel per gallon at the pump...
Published: 2008-01-11 14:37:00
Updated: 2010-06-21 13:53:03