Why are businesses charging debit card fees?

Asked by: Shaylee Maggio  |  Last update: January 21, 2025
Score: 5/5 (64 votes)

Provided businesses adhere to surcharging rules and regulations, credit card purchases can be subject to surcharging as a sustainable way to minimize payment processing costs.

Why are businesses charging to use debit cards?

These fees are charged by the bank that issued the debit card. They're meant to cover the costs of processing and handling transactions as well as fraud prevention.

Is it legal to charge a fee for using a debit card?

No. The ability to surcharge only applies to credit card purchases, and only under certain conditions. U.S. merchants cannot surcharge debit card or prepaid card purchases.

How do I avoid debit card surcharges?

Use cash where you can

The easiest way to avoid card surcharges is to pay by cash.

Why do I have to pay debit card fees?

There may be fees for using your debit card. Examples: Some banks charge a fee if you enter a PIN (Personal Identification Number) to conduct a transaction instead of signing your name. You may trigger a fee if you overdraw your account using your debit card, just as you would if you "bounced" a check.

Why Do Stores Charge To Use Debit Cards? - CreditGuide360.com

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How can I avoid debit card fees?

7 useful tips to avoiding the debit card fees
  1. Opt for a credit union or charge free bank. ...
  2. Choose the free of charge debit card. ...
  3. Monitor the balance in your account. ...
  4. Utilise the in network atms. ...
  5. Avoid the foreign transaction fees. ...
  6. Say no to overdraft protection. ...
  7. Stay aware of the surcharges from the atms.

Do merchants pay a fee to accept debit cards?

Yes. Debit card processing fees involve interchange fees, which vary by card and bank, and payment processing fees, which vary by provider.

Can you pass debit card fees on to customers?

You aren't allowed to pass on debit card fees to customers, so you'll have to cover the cost yourself.

How do I get rid of a charge on my debit card?

Contact your bank or credit union to dispute the charge.

Let them know you want to dispute a debit card charge. Depending on where you bank, you may be able to start a dispute online, over the phone, or in writing. Regardless of how you contact your bank, make sure you keep detailed records of your communication.

What states don't allow credit card surcharges in 2024?

Surcharging is widely accepted in the US except in Maine, Massachusetts, Connecticut, and Puerto Rico. Illinois, Colorado, Georgia, Kansas, Texas, Nevada, New York, South Dakota, New Jersey, Minnesota, California, Florida, Oklahoma, Michigan, and Montana allow surcharging with certain contingencies.

Why is there a surcharge on debit cards?

Businesses incur costs for processing certain card payment types. Some businesses include these costs in the prices they charge for their products. Others pass the costs on as a surcharge for paying with the card.

How to avoid convenience fees?

Use a different payment method.

Merchants often charge convenience fees or surcharges when credit cards aren't a standard payment method. If you have a rent, utility or tax bill, consider paying by check or electronic transfer instead.

What are the new credit card laws for 2024?

Consumer Financial Protection Bureau Releases Final Rule on Credit Card Late Fees, with Overdraft Fees on Deck. On March 5, 2024, the Consumer Financial Protection Bureau (Bureau) announced the final rule governing late fees for consumer credit card payments, likely cutting the average fee from $32 to just $8.

How do you explain surcharges to a customer?

A surcharge is an additional fee that a business imposes on a customer when they use a credit card for payment. This fee helps cover the costs associated with processing credit card transactions (such as merchant fees or payment gateway charges) by passing them down to the consumer.

How do I report a debit card surcharge?

To report merchants charging excessive payment card surcharges, or surcharging debit and prepaid card transactions, consumers may visit www.visa.com or www.mastercard.com to fill out a Merchant Violation Form.

Is it against the law to charge a debit card fee?

No, surcharging for debit card transactions is prohibited under the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This applies to all types of debit cards, including prepaid cards.

How much can a business charge for using a debit card?

Average Debit Card Fees (2025)

The average interchange rate of an exempt debit transaction is 1.21% per transaction or $0.51. The average debit card interchange of a covered transaction is lower, at 0.47% or $0.23. All of these rates are significantly lower than the average credit card processing fees.

Why are more businesses charging extra to pay by card?

Businesses apply credit card surcharges to offset the costs associated with processing credit card transactions. When customers pay with a credit card, businesses incur fees from their bank or payment processor. These fees can include a percentage of the transaction amount plus a fixed charge per transaction.

What is the federal law on debit cards?

Under federal law, you have protections that help limit what you have to pay if your credit, ATM, or debit cards are lost or stolen. If someone uses your ATM or debit card before you report it lost or stolen, what you owe depends on how quickly you report it.

Is it legal to charge a customer for using a credit card?

California Senate Bill 478, part of the Consumer Legal Remedies Act, bans all “junk fees” on purchases across California. This includes credit card surcharges in most situations.

Can companies still charge a debit card?

Businesses cannot impose any surcharge for using the following methods of payment: consumer credit cards, debit cards or charge cards. similar payment methods that are not card-based (for example, mobile phone-based payment methods)

How to avoid card surcharge?

The simplest way to avoid card surcharges? Pay cash. While businesses can charge a surcharge for paying with a credit, debit or prepaid card, they can't charge you more than the advertised price if you're paying in cash.

Why do stores charge to use a debit card?

Why are small businesses charged debit card fees? Both debit and credit cards require sellers to pay a range of fees every time a transaction occurs because a lot of entities are involved whenever a card is used—and all of these entities want something in return for their services.

Why are merchant fees so high?

Merchant fees are so high because credit card processing companies often inflate their charges. Processors also charge extra fees and unnecessary fees, adding to the total cost of a merchant's monthly statement. For example, let's say a customer buys food at a restaurant using a Visa rewards card.