DEFT still charging 1.5% - is that still allowed?

[albyd]

my other one doesnt use DEFT & they list EFT (BSB/ACC) details on the levy notice

I had a feeling that there might be some out there - good to see as I agree the DEFT CC surcharges are a gouge. Surely they are a big merchant and can negotiate better merchant rates than that. I'm assuming they're not passing those savings onto customers and keeping the difference. Don't blame them for doing it but it's not right.

 

[daft009]

I had a feeling that there might be some out there - good to see as I agree the DEFT CC surcharges are a gouge. Surely they are a big merchant and can negotiate better merchant rates than that. I'm assuming they're not passing those savings onto customers and keeping the difference. Don't blame them for doing it but it's not right.

agreed.. passing the buck calling themselves a "payment processor" and not a merchant.
lets see if my other strata can supply BSB/ACC details for next quarter... fingers crossed

 

[kyanar]

I had a feeling that there might be some out there - good to see as I agree the DEFT CC surcharges are a gouge. Surely they are a big merchant and can negotiate better merchant rates than that. I'm assuming they're not passing those savings onto customers and keeping the difference. Don't blame them for doing it but it's not right.

DEFT is a Macquarie Bank subsidiary - they don't negotiate fees because they are an acquirer and therefore can be charged whatever is most convenient for them. Besides. as an "intermediate payment processor" (not a merchant), DEFT can charge whatever they want with impunity. You know, like Cabcharge.

 

[Cruiser Elite]

What is the rate DEFT currently charging please? Still 1.5%

 

[Dr Ralph]

What is the rate DEFT currently charging please? Still 1.5%

It varies between cards, but it is 1.5% for MasterCard/VISA.

PDS

www.deft.com.au

Card transactions (including direct debit arrangements and one-off payments)

Visa: 1.50% surcharge MasterCard: 1.50% surcharge American Express: 3.30% surcharge Diners Club: 3.773% surcharge The surcharge is a percentage of the transaction amount.

 

[albyd]

Appears that DEFT is not caught by the surcharging rules so they keep charging like wounded bulls. Having said that, there are a number of Amex accepting processors at 1.8%+GST which would be a little higher than MC/Visa but certainly less expensive than DEFT for AMEX and you can get double points atm if you still have your Platinum Charge card.

 

[big_RED]

Wow. Just received this from EBP. Won't be using it anymore I don't think.

"We continue to listen to your feedback and to identify what we can do to improve Easy Bill Pay and we are happy to announce that it will soon support American Express.

Please note that transactions using American Express cards attract a credit card surcharge equal to 1.7% of the value of the transaction

We are also reducing the credit card surcharge on Visa and Master cards. This will be reduced to 1% of the value of the transaction.

Service Fee
In consideration for the provision and ongoing development of a secure, feature-rich product such as Easy Bill Pay, a service fee of $24.95 will be charged on a monthly basis. This fee does not apply to suspended accounts or accounts that are in Explore Mode.

High Value Processing Fee
We are introducing a High Value Processing Fee on transactions over a certain limit. This fee will only apply to Easy Bill Pay accounts with top-ups amounting to more than $20,000 in a calendar month."

 

[big_RED]

$660 in fees to earn 36,000 QANTAS points... is it worth it?

Roughly 36k in points to fly Syd to Mel economy on Qantas for a ticket that'd on average cost $450 max I'd say. So maybe not worth it...

 

[daft009]

latest sniip newsletter mentioned they were still trying to get DEFT payments to go through.. there were some issues