‘It’s the banks’: Industry body explains origins of high surcharge fees as govt calls for ban

government must do to implement its surcharge ban which was announced on TuesdayThe government's crackdown on debit card fees will involve a ACCC review into excess card costs, excluding credit cards, in a bid to east cost-of-living pressures.

The government's fresh bid to ban surcharge fees has been met with a double-pronged approach to best avoid the banks stinging customers further down the track. Picture: artursfoto/Getty Images Mr Foukkare said he would welcome the surcharge abolition if the payment system underwent a reform, adding the “underlying” fees associated with transacting were currently falling on the retailer, which were dumped on the consumer.

“It's crazy that we are faced with a situation where consumers are getting slugged every single time they actually pay at the table for anything across any retailer.”

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian Women in Music Awards shine a light on women in the Australian music industryWith an aim to advance equality in the music industry, winners at this year's Australian Women in Music Awards have been celebrated in Brisbane.
Source: abcnews - 🏆 5. / 83 Read more »

Live Nation's industry takeover tearing the Australian music scene apartInside a Ticketmaster transaction, there are hidden and public fees that are filtered back to parent company Live Nation. But how much is really being charged, and for what?
Source: abcnews - 🏆 5. / 83 Read more »

Australian coal plant in 'extraordinary' survival experiment as solar, funding woes stalk industryA remarkable first for coal power in Australia gave the beleaguered industry hope recently. But news this week might have snuffed it out again.
Source: abcnews - 🏆 5. / 83 Read more »