The banksters have devised a new way to skim

[midnight rambler]

CC fees are ALREADY 'factored in' to retail prices, so even if you're paying with FRNs you're still paying a CC fee (although only to the retailer), now this. Nice.

http://www.dailyfinance.com/2013/01/24/new-credit-card-checkout-fee-starts-sunday/

[madfranks]

That sucks, but apparently 10 states have banned it:


Tens of millions of customers will never see checkout fees, though. That's because 10 states have formally banned the practice


Checkout fees are illegal and, therefore, not allowed in 10 states. The laws of each state would determine whether it would be legal for companies based in other states to charge residents of its state. Residents of these states who encounter retailer checkout fees can report them to the state attorney general. These states include:
California
Colorado
Connecticut
Florida
Kansas
Maine
Massachusetts
New York
Oklahoma
Texas

[horseshoe3]

A few months ago, the local gas station put up a diatribe on their pumps about CC fees. They are unfair to the retailer, we have to charge you more, etc. etc. I went in and asked if they offered a discount if I would pay with cash and not force them to pay the CC fees. They acted like that was the dumbest idea they had ever heard.

So I went outside and swiped my card.

[Glass]

We have this a couple years now. Utility bills describe the Transaction fee you have to pay. The amount depends on the CC brand. Amex always cost more.

The next step will be to charge you for sending you a paper bill. I think we pay on average about $2 to get a paper bill from utilities. Some charge $5.

Not everyone who issues a bill charges for the paper version. Not everyone who accepts CC's charges the transaction fee. I think that means it's a made up thing otherwise everyone would do it.

[BabushkaLady]

Starve a banker--pay with cash. Plain and simple.

Many many small businesses will give a cash discount if you ask the right person--the owner.

[EE_]

Starve a banker--pay with cash. Plain and simple.

Many many small businesses will give a cash discount if you ask the right person--the owner.

I usually tell the person I'm dealing with, being a business, dentist, etc. "what you do with the cash after I leave here, is no concern of mine".

[BabushkaLady]

I usually tell the person I'm dealing with, being a business, dentist, etc. "what you do with the cash after I leave here, is no concern of mine".

The secret code words are: "I don't need a receipt." ;) (wink)

[Twisted Titan]

We have this a couple years now. Utility bills describe the Transaction fee you have to pay. The amount depends on the CC brand. Amex always cost more.

The next step will be to charge you for sending you a paper bill. I think we pay on average about $2 to get a paper bill from utilities. Some charge $5.

Not everyone who issues a bill charges for the paper version. Not everyone who accepts CC's charges the transaction fee. I think that means it's a made up thing otherwise everyone would do it.


Everytime i log on to my bank i get the promo to switch to e staments

I refuse and they charge their monthly fee.

Its worth it to me to always have a paper trail issused on their letter head ad that can stand up in a court.

Anything that is electronic can be manipulated or a virus can wipe you out.

It is in your best interest to have a paper receipet as much as possible.

[Agrippa]

CC fees are ALREADY 'factored in' to retail prices, so even if you're paying with FRNs you're still paying a CC fee (although only to the retailer), now this. Nice.

It won't take the market long to factor the fees back out of the sticker price. If you have to shop with a card, you might want to hold off for a couple of weeks to let the dust settle.

I think that having the cut that bankers get on a credit-card transaction made obvious will be a big improvement.