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Saturday, December 24, 2011

Excessive card surcharges to be banned

Excessive credit card and debit card surcharges are to be banned next year following an investigation by Which?. Fees on the sale of airline fares currently add up to another £12 on prices, while charges put up to £92 extra on holiday bookings. The ban would mean no company could make profit from the charges, which are thought to have increased 1,400% in seven years.

“We want consumers to be able to shop around,” said Mark Hoban, financial secretary to the Treasury in a report from Metro. “They have a right to understand the charges they may incur up front and not be hit through a hidden last minute payment surcharge”.

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