Home – New Forums Money matters Amex and 3%+ surcharge

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  • #979252
    King
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    Looking at a site and I see they charge an extra 3.5% if you use an American Express card.

    WHY??

    My Amex account charges me less than the bank does to process Visa and Mastercard.

    I have yet to meet any merchant who is charged more in processing fees that regular cards….

    I feel like approaching the ACCC aboit this.

    #1113073
    Steve_Minshall
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    King, post: 126275 wrote:
    Looking at a site and I see they charge an extra 3.5% if you use an American Express card.

    WHY??

    My Amex account charges me less than the bank does to process Visa and Mastercard.

    I have yet to meet any merchant who is charged more in processing fees that regular cards….

    I feel like approaching the ACCC aboit this.

    Hi King, pleased to meet you :)

    Visa/Mastercard = 0.7%
    Amex = 2.6%

    I have asked Amex to sharpen their pencil and got a polite refusal.

    #1113074
    JohnSheppard
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    In a business I used to work at 10 years back or so. Amex cost us 2% extra over mastercard/visa and was also a pain in the neck to process/audit. So we decided not to take it . People that had Amex seemed to always have a spare credit card of a different variety anyway.

    That was long time ago though.

    As someone who pays cash, I don’t really like subsidising credit card payers. IMO The price on the bill should reflect what they cost. For example if visa charge 1% then I should pay 1% extra, if it costs $5 to bank my cash, I should pay $5 extra….etc…

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