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A payment surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card, debit card or an e-money account, [1] but not cash, which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [2]
A surcharge would mitigate or even exceed the merchant discount paid by a merchant, but would also make the cardholder more reluctant to use the card as the method of payment. Australia has also made changes to the interchange rates on debit cards, and has considered abolishing interchange fees altogether.
[14] The National Retail Federation said, "that card company fees are the problem and the surcharge story is a volume that belongs on the fiction aisles. The real threat to retailers and their customers continues to be price-fixed hidden fees that can only be cured by transparency and competition." [15]
2. Overdraft fees. 💵 Typical cost: $26 to $35 per occurrence Overdraft fees happen when you spend more money than you have in your checking account, and the bank covers the difference ...
Two types of consumer charges exist: the surcharge and the foreign fee. The surcharge fee may be imposed by the ATM owner (the bank or Independent ATM deployer) and will be charged to the consumer using the machine. The foreign fee or transaction fee is a fee charged by the card issuer (financial institution, stored value provider) to the ...
About 85% of colleges and universities now accept credit cards as payment, according to CNBC — but the privilege usually comes with a 2% to 3% surcharge. Trending Now: 6 Things the Middle Class ...
• Communication surcharges - We answer to a higher calling - the phone company. If you connect to AOL using a long-distance number or AOLnet 800 number, you’ll see these surcharges in addition to your monthly subscription fee. We don’t refund these charges, so check with your phone company to make sure your selected access numbers are local.
Flat rate also passes into advertising. Purchasing advertisements on websites such as Facebook, Twitter and YouTube is sold a flat rates on the size (with a surcharge for images and posts) and length of the advertisement (video costs extra). Advertising on YouTube pitches at a flat rate of $0.30 per view. [4]