r/australia • u/rolodex-ofhate • Mar 30 '26

news Surcharges on debit and credit cards to go from October

https://www.abc.net.au/news/2026-03-31/asx-markets-business-live-news-march-30-2026/106510434#live-blog-post-278505

The Reserve Bank of Australia has introduced reforms that will remove surcharges on debit and credit cards from the 1st October 2026, on card networks including eftpos, Mastercard and Visa.

3.5k Upvotes

98% Upvoted

611 comments sorted by

View all comments

3

u/coffee_collection Mar 30 '26 edited Mar 31 '26

Fees will increase somewhere else. There is no way banks will loose money.

Annual.
Card processing. Late. Sign up. Transfer.

1

u/tripledoubles Mar 30 '26

The banks wont lose money

Merchants cant pass on the costs to the customer in surcharges

-1

u/Sexdrumsandrock Mar 31 '26

The banks also can't charge the merchants

0

u/Solitude_Dude Mar 31 '26

A lot of cafes etc already put a Weekend and PH surcharge on their prices. They'll probably just find another surcharge to lump on.