Business & Finance Loans

Government Planning To Ban Excessive Credit Card Surcharges

The Government a few days back made an announcement in which they said that are planning to out a bank on the companies who are making a fool of their valued customers by charging excess surcharges on their credit as well as debit card when they are making purchase of services such as flights and so on. In their announcement, they further added that such kinds of firms would be allowed only to make addition of just a small sum so that they can cover only their actual costs.

A whole lot of payment surcharges are charged it is done primarily in the payments of the airline sectors. In the case of these payments, OFT, that is the Office of Fair Trading has made an estimation that the consumers of the United Kingdom had spent almost around a sum of 300 million pounds on similar kinds of fees in the year 2009. The consumer minister Edward Davey revealed this thoughts and said that they wanted to make it a point that the consumers should not suffer unnecessarily when they are using their credit cards into order to make payment of airlines as well as similar kinds of business services. It is especially on these kinds of services that they are charged more and more amount of surcharge on the payment that they make. 12 month bad credit loans helps to pay your surcharges.

It is believed that this bad would imply not only in the sector of transport but also on most part of the retail sector. The businesses of many sectors inclusive of the airlines sector are going to face a bank by the European Union Consumer Rights Directive. These people have been charging extra amount of surcharges on their payments from a long time that would come in to action finally till the middle of the year 2014.

The Government of Britain is planning to make a consultation as far as making an implementation of this very provision of the directive that is concerned. They made a point that they are going to put a complete ban on this nuisance of extra surcharge on the payment till the time the year 2012 comes to an end. Mark Hoban, the Treasury minister was of the view that they should consult the experts carefully before implementing these rules. It is a complete challenge for them to bring a helping hand to the customer without making any harm to the business sector as well.

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