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Can Retailers Charge You Extra For Credit Card Purchases? Here's The Answer
So sneaky these retailers.
Have you ever checked your receipt after you've made a purchase using a credit or debit card and noticed that the retailer charged you a little bit extra?Retailers charging you extra for credit card purchases is nothing new as this practice has been going on for a while now, but the most important question is: are they allowed to do so?
The answer is: absolutely friggin' not.
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The agency said banks are actively monitoring and enforcing the rule, ensuring that retailers do not impose surcharges on unsuspecting consumers.
According to BNM, a number of merchants reportedly charge up to an additional two per cent when purchases are made via credit or debit cards.
![Giphy If they continue charging us extra...](http://astrokentico.s3.amazonaws.com/rojakdaily/media/1nichoras/gif/giphy_25.gif)
BNM revealed that these retailers choose to impose surcharges to recover the cost of the transaction fee, known as the merchant discount rate (MDR), charged to them when a payment is made via credit cards.
If you encounter merchants who impose surcharges, lodge a complaint with their respective banks or payment card issuers and BNM will get to work.
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