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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 may refer to: An extra fee added onto another fee or charge Bunker adjustment factor, sea freight charges which represents additions due to oil prices; Surcharge (payment systems), charged by merchants when receiving payment by cheque, credit, charge or debit card; An overprint that affects the value of a postage stamp
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 ...
Beginning this week, merchants may charge a 4% premium for people who use credit cards for their purchases. A settlement in a legal action between card companies and merchants has triggered that fee.
A service fee, service charge, or surcharge is a fee added to a customer's bill. The purpose of a service charge often depends on the nature of the product and corresponding service provided. Examples of why this fee is charged are: travel time expenses, truck rental fees, liability and workers' compensation insurance fees, and planning fees.
While a surcharge is part of what must be paid, an upcharge is not always unexpected, [6] and usually can be declined by rejecting the additional service or the suggested upgrade, albeit receiving less. [1] The practice of amusement parks to charge both for admission and then for individual rides may be described as "Upcharge attraction". [7]
Finance Charge Definition. A credit card’s finance charge is the interest fee charged on revolving credit accounts. It is directly linked to a card’s annual percentage rate and is calculated ...
Some charge maintenance fees, which are often easy to avoid by meeting set requirements. ... This includes the average surcharge from the ATM’s owner as well as one from a consumer’s own bank ...