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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]
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]
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 ...
Credit card surcharges are becoming more common, but they’re not legal in every state.
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.
The overdraft fee was also designed as a penalty for unauthorised lending from the bank, but regulators and governments have pushed back against fees that are designed as penalties. Consumer laws in a number of countries have forced banks to not charge fees beyond what is reasonably necessary to recover their costs. [5]
• 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.
Homeowners in California could pay a surcharge of $1,000 or more if FAIR Plan runs dry. Alicia Adamczyk. January 13, 2025 at 3:38 PM. ... which would in turn pass on the charge to customers.