Can I be charged a commission for paying by credit card?
You can be charged a commission for paying with a credit card
Have you ever been charged a commission when paying with a credit card in any establishment? Have you heard of this? Is it correct to make this charge?
Have you ever been charged a commission when paying with a credit card in any establishment? Does it sound familiar? Is it correct to make this charge? Surely you have asked yourself these and other questions about the famous commission for paying with a credit card, if so you have come to the right place.
In the country in 2020, approximately 3,499 million payments were made with cards, both in traditional and ecommerce businesses. Many people prefer to buy with both debit and credit cards because they find in this payment method different benefits, such as:
- Decrease the risks of handling cash
- Better control of expenses
- It is more convenient
- Access to promotions
- It is safer
Although it is one of the most used payment methods, it also has its drawbacks, for example, with credit cards you can spend more than you have, when paying with your card you can be a victim of fraud, among others. Now, let’s analyze the fees that can sometimes be applied when paying with a credit card.
There are several benefits of paying with a card. However, both consumers and businesses should take into account what this implies for its proper use.
The answer is simple: no, the person making a card payment should not be charged a fee.
Some establishments decide to charge a surcharge or commission that can range from 3 to 5% of the value of the purchase, when it is made with a debit or credit card. This does not comply with the agreements that these places make with banks, since in their contracts it is established that paying with a card should not have an impact on the cost of the good or service purchased.
What does this mean? By contracting a point-of-sale terminal, establishments agree that they should not increase the cost of what is purchased by paying with a card. Due to the fact that card payments can mean a commission charge for them, they decide not to assume this and charge it directly to the cardholder, which should not happen.
For us, this type of practice is undue, it conditions card payments and therefore hinders the promotion of financial inclusion, since it makes the user believe that paying with a card is more expensive than paying with cash, which is completely wrong.
For the Association of Banks, when a card payment fee is charged, it is a discriminatory practice towards card users and it is important to report it to the bank.
Why should card payment fees not be charged?
The main reason is because they are undue, and it is also important to remember that although banks charge a percentage commission for the use of the terminal, their contracts state that they should not charge this commission to the cardholder.
On the other hand, accepting payments with credit or debit cards has benefits for them, for example: they increase their sales potential by offering another form of payment, they reduce risks by not having to carry and handle less cash in the establishment.
If an establishment charged you a commission for payment with a card, we recommend that you inform the financial institution to which the terminal belongs, since they are violating the conditions they have regarding the contract, you can also approach the commission to clarify doubts or request recommendations in this regard.
At the moment there is no law that prohibits the charging of this commission, however, it should be noted that the contracts that the establishments sign to acquire the terminals do establish that it is an improper practice. Finally, he reminds that payment by card does not have to be more expensive.