Australia

3625 readers

212 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

The Environment, post it to Aussie Environment
Politics, post it to Australian Politics
World News/Events, post it to World News
A question to Australians (from outside) post it to Ask an Australian

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

When posting news articles use the source headline and place your commentary in a separate comment

Banner Photo

Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @[email protected] and @[email protected]

founded 1 year ago

MODERATORS

[email protected]

Australians lose nearly $1 billion a year to card surcharges as RBA warns banks to stop (www.abc.net.au)

submitted 8 months ago by [email protected] to c/[email protected]

7 comments fedilink hide all child comments

Unlike in the UK and the European Union where card surcharges are banned, retailers in Australia are allowed to recoup their payment costs through surcharging their customers, as long as they are not making a profit out of it.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 15 points 8 months ago (1 children)

"Australian Banks profit nearly $1 billion a year from card surcharges as RBA does nothing"

[–] abhibeckert 4 points 8 months ago* (last edited 8 months ago) (1 children)

I don't think the banks see much of that money. It mostly goes to infrastructure companies such as Visa (who guarantees a refund if your card is stolen) and Telstra (network infrastructure isn't free) and of course the actual card processing hardware itself isn't fee either.

I would be curious to see how much money Australians save by not paying a million people to handle cash (which they generally do poorly).

[–] [email protected] 2 points 8 months ago* (last edited 4 days ago)