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The Guardian - AU
The Guardian - AU
National
Luca Ittimani

Debit and credit card surcharges to be removed in Australia by October

RBA Jim Chalmers
person tapping a card to pay
Banks and some companies have argued surcharging is necessary to cover the complex costs of the payments system, including credit cards and rewards. Photograph: SolStock/Getty Images

Debit and credit card surcharges will be gone by October under Reserve Bank reforms, with big banks likely to foot the bill for the cost-of-living measures.

The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments.

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