North Swindon MP Welcomes End to Unfair Credit Card Charges

Following the Government announcing plans to ban hidden or unfair charges on debit or credit cards in January, North Swindon MP has praised the proposals as an important win for consumers and highlighted the improved transparency between consumers and companies.

Under the previous system, people using a credit or debit card can be charged more than by paying in cash, these additional costs can be paid when buying online, purchasing fast food or trying to buy things where there is limited completion like on aeroplanes. Bank card surcharges in the UK alone cost card users an additional £473m annually and legally companies can charge up to 20% of the products price on top of the price that would be paid in cash.

With the new protections in place, taking over in January 2018, all addition surcharges on using bank cards will be banned in the UK and across the EU. This not only leaves more money in the pockets of people using cards instead of cash when buying goods, it also reassures consumers that they can be confident of a fair and equal price.

Justin Tomlinson MP said: “I welcome this as positive change for consumers, all too often we find it frustrating when you are forced to pay more, simply because a bank card is used. These changes should put an end to these unfair charges and give people better value for money.”