Debit card surcharges 'must be abolished'

An expert has called for the abolition of debit card surcharges in shops, which could allow people to make better use of the best savings rates.
 
A spokesman for advice site Candidmoney.com has called for the practice to be banned as it gives consumers a very raw deal.
 
He said that the debit card is the modern equivalent of the cheque and is used in a similar way, making it unfair to levy an additional charge on it.
 
The representative added: "I accept that businesses might sometimes have to pay small processing fees when accepting payment by debit card, but the surcharge some thrust upon their customers can be totally disproportionate."
 
He claimed that it would be far fairer for firms to raise their prices rather than to benefit from what he describes as "underhand tactics" like this.
 
Recent figures published by Aviva have shown that people's falling disposable incomes are reducing the amount of money saved in accounts with the best savings interest rates.

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2011-09-07 13:14:01 © Moneyextra.com