EU Payment Services Directive now in force in the UK
All businesses are now banned from charging ANY fees for credit or debit card payments. The ruling came into force on Saturday 13th January.
The new rules, which have now been made into the law as of Saturday, will mean all surcharges are banned when businesses process card payments.
So there will be no charges for paying by debit or credit card, including American Express and linked ways of paying such as PayPal or Apple Pay.
As an example, when booking flights, you will no longer be charged extra for paying via credit card. Below are a few examples of charges. (from Money Saving Expert)
It is estimated that surcharging cost Brits £166 million in 2015.
- Driver and Vehicle Licensing Agency (DVLA) - £2.50 credit card fee on all transactions
- Council tax - 2.5% credit card fee for Ealing Council
- Flights - Flybe charges 3% on credit card and PayPal transactions
- Packaged holidays - Thomas Cook has a 2% credit card fee
- Paid-for TV - Sky charges a 30p/mth fee on recurring credit card payments
The rules will apply to any UK company which is selling to UK consumers.
Switch and save
Change payment provider today and save up to 60%
The reason this is being mentioned in a blog on GDPUK is……
One because of our offer for members, where we can save dental practice money on their card payment fees, which are obviously different area when compared to the new law above but still relevant.
Secondly, businesses often charge these extra charges as listed above (especially smaller businesses such as dental practices) because of the fees the business was paying the merchant supplying the card service and they were passing on the charge to the consumer.
So therefore checking your card machine rate is more important than ever.
One of way of helping small business owners reduce these costs is by checking your rate. Card payment services can be very costly to dental practices and other small businesses. By comparing your rate, you can reduce your monthly bills by up to 60%. That could mean an annual saving of several thousands of pounds.
Find out more info here via GDPUK Services. Just fill out the form at the bottom of the page and within a few days you can be making savings. Just Switch and Save!
This offer is primarily for dental practices but we can also look at other businesses that take card payments on a daily basis and see how we can help reduce your costs. Just enquire via the form on the GDPUK Services page.
Further info about the EU Payment Services Directive here.
About the author
Related Posts
Comments
By accepting you will be accessing a service provided by a third-party external to https://www.gdpuk.com/
GDPUK Ltd announces sale of intellectual property to leading publisher Cogora Group
GDPUK Ltd today announces the sale of its intellectual property assets to Cogora Group, one of the UK's leading publishers of healthcare brands, events and educational platforms.
The decision to sell GDPUK’s intellectual property forms part of a considered transition to ensure the long‑term stewardship and development of the brand and associated assets. Cogora brings a wealth of experience and expertise to support the continued evolution of the dentistry brand within its wide portfolio of market-leading healthcare publications. Its award-winning titles include Pulse, a long‑standing and widely recognised source of political news and clinical education for GPs, Nursing in Practice, Management in Practice, The Pharmacist, Pulse PCN and Healthcare Leader, as well as two secondary care publications – Hospital Healthcare Europe and Hospital Pharmacy Europe. The purchase will cement Cogora as the biggest publisher of primary care titles in the UK and allow it to bring its expertise in providing news, analysis, opinion and groundbreaking stories to GDPUK, as well as continue giving dentists and dental staff a voice through its website.
“After careful consideration, we believe that Cogora is well positioned to take GDPUK’s intellectual property forward,” said Tony Jacobs, founder, editor and publisher of GDPUK.com . “This transaction provides continuity for the professional community associated with GDPUK and creates opportunities for future growth under experienced ownership.”
Tony will continue involvement in GDPUK on a consulting basis.
GDPUK Ltd has worked to ensure an orderly transfer of the intellectual property and wishes Cogora every success in its future development.