NT - Credit Card Swipe or Check Out Fees

[S T]

Well mostly off topic taxes - but could affect a few of my business clients that accept credit cards as a form of payment for their invoicing.

Anyone have a "read" on the Credit Card Swipe- Check Out fees effective possibly Jan 27 2013

Of course it also affects the consumer using the credit card - as in you and I

I use my credit card all month long and pay once a month!

Thanks

Sandy

[taxtimeagain]

http://seniortravel.about.com/od/travelmoney/a/Merchants-In-40-Us-States-May-Soon-Impose-Credit-Card-Surcharges.htm

That article explains what the surcharges are about. I myself was unsure when I first looked at the topic and did a search!

[Koss]

Card Swipe Fees

This is not likely to start right away... January 27 is the date on which merchants are permitted to begin charging these fees.

However, there are some really heavy-duty disclosure requirements, e.g., signs on the door, and at the cash register, and on the screen at the point-of-sale terminal, with an opportunity to change your mind and cancel the transaction.

The fees are not applicable to debit card transactions that are processed with a PIN. The fees are permissible only for true credit cards, and for debit card sales that are processed as credit card transactions.

And several states have outlawed the fees. That's going to make things very interesting for purchases on the internet. If the merchant is located in a state that allows the fee, but the buyer is in a state that has prohibited the fee, the merchant may not be allowed to charge the fee.

BMK

[luke]

30 days notice

If you are gonna charge these fees you have to give VISA (Mastercard) 30 days notice of YOUR INTENT to charge - follow link in the story to submit that notice.....

[DTS]

Charges

Sandy,

Seems I heard the other day about 10 or 11 states, including CA, still can't charge these fees.

D