Cash or Card? Countries where you still need cash.

[burmans]

I’d have to defer to my legal council (SYD+1) for the actual legislation but the ACCC website is pretty clear.

Card surcharges

If a business charges a payment surcharge, it must be able to prove the costs it's based on. If there's no way to pay without a surcharge, the surcharge must be included in the displayed price.

www.accc.gov.au

Basically, if they don’t take cash and the only way to pay includes a surcharge then they have to build that into the advertised price. Not add it later.

While I agree have yet to see any proof this law is being enforced!

 

[SYD]

While I agree have yet to see any proof this law is being enforced!

Maybe a discussion for here etc?

Thread 'Debit Card Surcharges May Be Banned By 2026'

Oct 14, 2024

There's an interesting article in the AFR today about some crazy credit card surcharging practices.

Live Payments, which leases payment terminals to small businesses, is incentivizing those businesses to cop a very high 2.6% processing fee in exchange for earning 1 Qantas Point per $1 processed. That fee can be passed on in full to customers under current regulations, which means the business can earn Qantas Points for free, essentially - and some are doing just that...

• Doctore1003
• Replies: 21
• Forum: Other Finance Discussion

 

[Cynicor]

I’d have to defer to my legal council (SYD+1) for the actual legislation but the ACCC website is pretty clear.

Card surcharges

If a business charges a payment surcharge, it must be able to prove the costs it's based on. If there's no way to pay without a surcharge, the surcharge must be included in the displayed price.

www.accc.gov.au

Basically, if they don’t take cash and the only way to pay includes a surcharge then they have to build that into the advertised price. Not add it later.

Nothing to do with cash- they have have a surcharge free way to pay.
They are welcome to charge a cash surcharge too, as long as jetstar Mastercards are fee free they meet their obligations. (Which is what Jetstar do)

 

[JohnK]

Hahah I grew up with Mum and Dad using travelers cheques

Ah yes the good old days of travelling in the 80's and 90's. I also used travellers cheques for the first few trips to Thailand in early 00's.

I've carried $6,000-$7,000 AUD with me in the past. Not a big deal at all.

For the past 2.5 years I've been using credit cards to purchase beer in Thailand at 7-Eleven, Tops, Lotus and Big C. I've now had credit cards compromised 7 times. Imagine if I was using credit cards everywhere? I'd need new credit card(s) every trip because you'd never travel with just 1 credit card?

We do have Thai bank accounts and we do send quite a bit of money via Wise but I also want to carry cash with me as it's not difficult to exchange.

And as I get older I realise more and more that I don't want anyone knowing how much money I spend and where I spend that money. I don't want a visible trail that anyone can tap into.

 

[tdimdad]

For those interested. The early part of the article talks about countries, the rest is more about the role of cash as a reserve.

Which countries in Europe are most prepared to go cashless?

The Nordic countries are leading the way for adopting a future without cash transactions, while Armenia, Georgia, and Germany fall behind, according to a recent analysis.

www.euronews.com

 

[pagingjoan]

Not quite on topic. But an interesting wrinkle.
Casablanca Airport does not accept LOCAL currency in their Duty Free area.