Card Surcharges Banned on Prepaid, Debit, and Credit Card Payments from October
The Reserve Bank of Australia's Payment Systems Board has announced that from October 1st, 2026, card surcharges will no longer be allowed on prepaid, debit, and credit card payments. This decision comes after a review by the RBA found that consumers are often unaware of interchange fees associated with card transactions.
According to a survey of 3000 respondents, most consumers felt they were only 'sometimes' or 'rarely' informed of these fees. The RBA has advised businesses to reflect the cost of card fees in their overall pricing rather than as a separate surcharge.
Scott Bennett, director of Yarra Valley Rides, has chosen not to accept card payments for his services in order to keep prices down for customers. He believes that charging card fees would be unfair to those who pay direct deposit or cash.