Government to limit card fees
Posted: 3rd January 2012
Following a complaint to the Office of Fair Trading (OFT) by consumers’ champion ‘Which?’, the Government has announced that it is to take action to prohibit excessive charges being levied on purchases by credit card.
The Government proposes to limit the allowable charge to an amount sufficient to cover the actual costs to the supplier of processing the card transaction.
The ban will apply not only to transport charges (‘low cost’ operators in the aviation industry have, in particular, been heavily criticised), but to all retail sales.
A consultation paper is to be issued shortly.