From 1 September 2017, new laws prohibit businesses from charging customers excessive fees when making payment by Eftpos, Mastercard, Visa or American Express. LegalVision has designed a custom service to help you adjust to the new rules: the Surcharge Checker. Fill in the form on this page and we’ll contact you to discuss next steps.
Key Points
- The ban covers all businesses that charge customers for using these payment methods.
- The ban has applied to large businesses since 1 September 2016 and will now extend to all businesses, including small businesses.
- If you use these payment methods, you cannot charge a customer more than what it costs your business to process the payment.
- The new laws won’t apply if you don’t charge your customers fees for paying by card. However, not passing on these costs to customers could mean that you are absorbing large bank fees.
- Under the new laws, businesses have a number of options for managing their payment systems.
Getting your surcharge levels right could help you cover thousands of dollars in bank fees. Getting them wrong could cost you thousands in fines.
LegalVision’s Surcharge Checker
Let LegalVision help make sure your payment systems are in order. For just $99 (ex GST), a LegalVision lawyer will:
- review your current surcharge practices;
- review your bank materials to determine your surcharge options;
- offer you a consultation to discuss your options under the new laws; and
- provide you with a certificate confirming your legal surcharge options.
Fill in the form on this page, or give us a call, for more information.
