Big bankers win again

[gallantwarrior]

For years now the public has been sold the idea that using electronic means to pay everything from bills to grocery purchases is more efficient and cost effective. Isn't it interesting that after pushing for an all-electronic, plastic-based economy, the big banks have wrangled a new way to charge that extra fee to cover "handling charges" for those electronic transactions. The banks, or course, will always get their money, but the cost to both retailers and consumers will be going up...again.

You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a "checkout fee" when you pay for something with plastic.

Credit card checkout fee taking effect - Yahoo!

 

[Toronado3800]

For years now the public has been sold the idea that using electronic means to pay everything from bills to grocery purchases is more efficient and cost effective. Isn't it interesting that after pushing for an all-electronic, plastic-based economy, the big banks have wrangled a new way to charge that extra fee to cover "handling charges" for those electronic transactions. The banks, or course, will always get their money, but the cost to both retailers and consumers will be going up...again.

You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a "checkout fee" when you pay for something with plastic.

Credit card checkout fee taking effect - Yahoo!

You have been paying that fee anyway for a decade or two. We figure it into our pricing because no one hauls around $100's.

This will make it more upfront. Expensive AMEX will be less attractive than VISA I suppose.

Your gripe about efficiency is 100% on. Cash is still better to spend. Perhaps the government shoukd consider "virtual" money which will seem like a debit card.

 

[Spoonman]

For years now the public has been sold the idea that using electronic means to pay everything from bills to grocery purchases is more efficient and cost effective. Isn't it interesting that after pushing for an all-electronic, plastic-based economy, the big banks have wrangled a new way to charge that extra fee to cover "handling charges" for those electronic transactions. The banks, or course, will always get their money, but the cost to both retailers and consumers will be going up...again.

You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a "checkout fee" when you pay for something with plastic.

Credit card checkout fee taking effect - Yahoo!

its like a drug, once they get you hooked on credit, the price goes up a little

 

[gallantwarrior]

For years now the public has been sold the idea that using electronic means to pay everything from bills to grocery purchases is more efficient and cost effective. Isn't it interesting that after pushing for an all-electronic, plastic-based economy, the big banks have wrangled a new way to charge that extra fee to cover "handling charges" for those electronic transactions. The banks, or course, will always get their money, but the cost to both retailers and consumers will be going up...again.

You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a "checkout fee" when you pay for something with plastic.

Credit card checkout fee taking effect - Yahoo!

You have been paying that fee anyway for a decade or two. We figure it into our pricing because no one hauls around $100's.

This will make it more upfront. Expensive AMEX will be less attractive than VISA I suppose.

Your gripe about efficiency is 100% on. Cash is still better to spend. Perhaps the government shoukd consider "virtual" money which will seem like a debit card.

I am aware that the charge has existed for a while. At least this way, only those who use plastic will be charged instead of reflecting the cost in overall pricing. I wonder whether it will encourage people to go back to using cash. This plastic money concept is pretty pervasive. My partner still prefers using checks, but many establishments no longer accept them. So he resorts to using plastic. No amount of talking has convinced him that using cash is a better alternative (no fees, no interest).

 

[gallantwarrior]

For years now the public has been sold the idea that using electronic means to pay everything from bills to grocery purchases is more efficient and cost effective. Isn't it interesting that after pushing for an all-electronic, plastic-based economy, the big banks have wrangled a new way to charge that extra fee to cover "handling charges" for those electronic transactions. The banks, or course, will always get their money, but the cost to both retailers and consumers will be going up...again.

You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a "checkout fee" when you pay for something with plastic.

Credit card checkout fee taking effect - Yahoo!

its like a drug, once they get you hooked on credit, the price goes up a little

And a little more...