NAB Merchant Service Fee is increasing.

[MAX_1]

Letter received from NAB sent to all merchants.

"From 1st April 2010 your Standard Credit Card Merchant fee (MSF) will increase from 0.92% to 0.94% and Premium MSF from 1.92% to 1.948% for Mastercard and Visa transcations............................................
.............................................................................................
You may choose to recover this cost by surcharging your customers."

This can only lead to price increases or credit card fee charge on every transaction.

 

[markis10]

I think I can handle that increase, .02% is not much, I would be more concerned with whats happening tommorrow with the RB and general interest rates.

 

[jamesD]

I would be more concerned with whats happening tommorrow with the RB and general interest rates.

This is true, although I do have confidence in Glenn Stevens' ability compared to other bureacrats/politicians that have a hand in running the show.

That said, I am hoping very much there is no increase.


.

 

[drron]

Interesting the rate on the premium cards.Just notified that the AMA Amex rate is now 1.49%.So you should be charged less for Amex than a plat visa?:shock:

 

[cosi]

Westpac increased our rates effective 1st April 2009

Our industry rate with Westpac went from 0.68% to 0.708% for Mastercard & Visa