RBA estimates the card surcharge ban will save consumers $1.6 billion
A ban on card surcharges has come into effect, preventing businesses from charging customers direct fees for paying by card. The Reserve Bank of Australia estimates the change will save consumers approximately $1.6 billion annually. Some businesses with tight margins are responding by increasing their base prices, with examples including a nail salon raising prices by 10 per cent overnight and cafes increasing coffee prices.
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