Member News

Merchant Credit Card Surcharge

Although most merchants have not implemented a fee, consumers are concerned.

Due to an antitrust settlement last summer, retail and online merchants are now allowed to charge consumers a fee between 1.5% and 4% for accepting MasterCard and VISA payments.

Not all merchants will be charging this fee. For example, WalMart has publicly stated it will not be surcharging customers. Any retailer choosing to charge the fee must provide conspicuous signage indicating the surcharge, plus notices at check out and on receipts. Online merchants charging the fee must post the information on their websites.

The fee, when charged, is not being imposed by the credit union, and does not apply to purchases made using debit cards.

Please click here for more detailed information about the “check out” fees http://usa.visa.com/personal/using_visa/checkout_fees/index.html