Debit Card Charges increases for merchants

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Our monthly charge for November 2022, has increased by 100% , on examining the statement for Nov, we found that the the I-Change fee has increased by 100% +, the actual bank who hold our account, fees have not increased, we did not get any prior notice of this. I am talking about Debit Cards for example a payment of €5K by a 4319 debit card the total charge was €120.68.
Has any body else experienced this
 
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boconnor said:
Our monthly charge for November 2022, has increased by 100% , on examining the statement for Nov, we found that the the I-Change fee has increased by 100% +, the actual bank who hold our account, fees have not increased, we did not get any prior notice of this. I am talking about Debit Cards for example a payment of €5K by a 4319 debit card the total charge was €120.68.
Has any body else experienced this
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I know anecdotally that a couple of businesses (coffee shops) that I regularly frequent have experienced the same issue recently, although that was a few months ago. Both of them asked me to pay them in cash rather than by debit card.
 
There was a change recently and it was to do with business cards and pre-paid cards and this may be where the issue is.

The rise in prepaid debit cards means a new cost to retailers as these companies take a cut of the commission and they are all premium cards.

I'm surprised that a 4319 card had such a high fee as I didn't think that prefix operated for prepaid cards - might be worth checking out.


€120 charge is ridiculous on 5k. That 2.2% - and of there's vat in the 5k, the effective charge is 2.7% on your net sale
 
Thank you, yes there was Vat included in that figure, I did ask the Bank that holds my merchant account, and they said its a charge from the banks releasing the money, or interchange fee.

But there must be a government agency or dept, that I can contact ?
 
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