Credit card fees could be starting Oct 6 (1.Viewing)

  • Topic Starter Topic Starter Stewie
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About bloody time, I dropped credit cards because they were costing me $35,000 per year in merchant fees. Now I accept only e-transfer on my online stores.

I got a letter from my Merchant provider just before covid hit and they said they are here for small business and would do everything possible to support us. A year later I was paying 35k instead of $30 and that is when I said enough is enough.

Now when a client asks me to use a credit card I charge a 4% fee and as soon as I mention that the client switches to debit or e-transfer.

That decision to make the fee official is a long time coming.

PS. Did you know Costco marks things up by only 13% ??

Guess what the 3% over the 10% is for?

Costco makes a killing on the memberships but I am hoping they drop the 3% and charge it only to the people actually using the credit cards.
 
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And Quebec is exempt...

The new rule allowing businesses in Canada to pass credit card fees on to customers will not apply in Quebec.

The action is prohibited by the province's Consumer Protection Act, according to the Canadian Federation of Independent Businesses (CFIB).
Click to expand...
Quebec exempt from rule allowing businesses to charge credit card fees

Makes you wonder if some provinces might amend their consumer protection laws to prevent this and so it's the same as Quebec.
 
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