| Forum Home | ||||
| PC World Chat | ||||
| Thread ID: 74162 | 2006-11-13 08:49:00 | Who's telling porkies- Telecom or Visa? | Shortcircuit (1666) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 498759 | 2006-11-13 08:49:00 | I usually pay my Telecom account by phone using my Visa card. This month with my Telecom bill was the following: Change to one-off payments for credit cards. Recent changes to our billing policy mean that... all one-off credit card bill payments will incur the following fee: Visa or mastercard- 3% of bill payment, charged by Eftpos NZ ltd Amex- 2% of bill etc Diners- 2% of bill etc I was under the impression that retailers (ie Telecom) were charged 'up to' 1.8% of the retail amount by credit card companies and the amount was included in the total billed amount. Telecom appear to have taken the tack that they will no longer include the amount charged by the credit card companies in the total billed amount, unlike almost every other company/retailer in NZ. The really strange thing is that it does not apply to pre loaded monthly credit card payments. I'm not sure if Telecom are being upfront here or if the credit card companies are cutting off their nose to spite their face. I mean, if I am paying an extra 3% on top of my bill by using a credit card then I'm not going to do it and the credit card company miss out on a heck of a lot more interest. Telecom loose out a bit as well because I will happily send a cheque in the mail which they will have to bank and clear first. I'm wondering if this is the beginning of 'posturing' by companies over the Commerce Comission's investigation into fees. |
Shortcircuit (1666) | ||
| 498760 | 2006-11-13 09:17:00 | I usually pay my Telecom account by phone using my Visa card . This month with my Telecom bill was the following: Change to one-off payments for credit cards . Recent changes to our billing policy mean that . . . all one-off credit card bill payments will incur the following fee: Visa or mastercard- 3% of bill payment, charged by Eftpos NZ ltd Amex- 2% of bill etc Diners- 2% of bill etc I was under the impression that retailers (ie Telecom) were charged 'up to' 1 . 8% of the retail amount by credit card companies and the amount was included in the total billed amount . Telecom appear to have taken the tack that they will no longer include the amount charged by the credit card companies in the total billed amount, unlike almost every other company/retailer in NZ . The really strange thing is that it does not apply to pre loaded monthly credit card payments . I'm not sure if Telecom are being upfront here or if the credit card companies are cutting off their nose to spite their face . I mean, if I am paying an extra 3% on top of my bill by using a credit card then I'm not going to do it and the credit card company miss out on a heck of a lot more interest . Telecom loose out a bit as well because I will happily send a cheque in the mail which they will have to bank and clear first . I'm wondering if this is the beginning of 'posturing' by companies over the Commerce Comission's investigation into fees . I thought it was illegal for companies to charge an additional percentage for credit card transactions, over cash/eftpos/cheque payments . PaknSave tried to charge a 5% surcharge for credit card transactions and got hauled over the coals by the commerce commssion for it, and they backed down . |
rogerp (6864) | ||
| 498761 | 2006-11-13 10:34:00 | Quite a few retailers offer a 2.5% discount for cash or Eftpos payment, so bypass the ruling. Of course Telecon ignore rulings as a matter of habit. |
R2x1 (4628) | ||
| 498762 | 2006-11-13 21:01:00 | I thought it was illegal for companies to charge an additional percentage for credit card transactions, over cash/eftpos/cheque payments. PaknSave tried to charge a 5% surcharge for credit card transactions and got hauled over the coals by the commerce commssion for it, and they backed down.I don't think it's illegal - just unethical. Also I understand that this behaviour is contrary to the agreement between the Merchant (Telecom in this case) and the Card company (Visa/Mastercard). The credit card companies used to get very upset by merchants trying to recover their transaction charge from the card-holder and would often threaten to suspend merchant facilities when merchants attempted this. Perhaps they don't care any more - be worth mentioning it to your bank though - you never know... | johcar (6283) | ||
| 498763 | 2006-11-13 21:28:00 | If you read your c/c policy it should say something like, if the org refuses and still charge you, you can contact your c/c company. | Nomad (952) | ||
| 498764 | 2006-11-14 18:24:00 | The credit card companies used to get very upset by merchants trying to recover their transaction charge from the card-holder and would often threaten to suspend merchant facilities when merchants attempted this. The "law" and the "experts" at the Commerce Commission aside....what it comes down to is a customer/banker relationship. If a Bank has Telecom as their customer, you can rest assured they will do what it takes to keep them. If this includes some....flexibility....on what Tcom charge, or how they do it, then they will certainly allow it. If not for the long term....then to see how it pans out. The issue of Interchange/Merchant Fees is a difficult one, one the bank's will ultimately lose in my opinion.....but credit card companies have many other ways to recoup any losses in one income stream. Don't assume for one minute that what happens with Telecom will happen for many other companies.....they will swing a very big stick as a bank's client. T |
allblack (6574) | ||
| 1 | |||||