XPost: nf.general 
 From: naveed010@hotmail.com 
  
 I don't know about that.  I was talking to the missus who owns the BIg R and 
 she said it costs her 8 cents per debit. 
  
  
 "Matt Dawe"  wrote in message 
 news:3nCue.51652$Ph4.1423668@ursa-nb00s0.nbnet.nb.ca... 
 > From what I understand, retailers are charged per transaction. I believe 
 > the 
 > charge varies from bank to bank. I have heard Royal Bank is 35 cents...how 
 > accurate that is, I don't know. I guess the retailers are simply covering 
 > their bottom line since a $5 sale to them is only $4.65 in revenue after 
 > they are charged the fee.....the markup on the $5 item was likely minimal 
 > to 
 > begin with so you can't really blame them. 
 > 
 > Credit cards work similarly except they charge a percentage of the total 
 > sale. If they charge 4% for a Visa, on a $100 purchase, the retailer loses 
 > $4...something along those lines. 
 > 
 > "Terry"  wrote in message 
 > news:OWBue.74695$Kk4.944213@news20.bellglobal.com... 
 >> Buying yesterday at the local store outlet of a national chain store I 
 >> was 
 >> advised that there would be a 25 cent charge if I used my debit or credit 
 >> card for a purchase of less than $5! 
 >> 
 >> This was the first time I have experienced this. 
 >> Is it common practice throughout Canada? 
 >> It was also mentioned that another store charges 50 cents for the same. 
 >> 
 >> Twenty five cents on $5 is a 5% premium. 
 >> If the purchase was less, say $3.00 for a carton of milk, or similar, the 
 >> twenty five cent charge is 8.3%! 
 >> Fifty cents on $5 or less could be a 10% or higher premium. 
 >> 
 >> Am wondering if this is a reflection of or is caused by how much the 
 >> banks 
 >> charge businesses for bank debit card transactions. My bank tells me that 
 >> such extra charges by retailers are the exception and very unusual. 
 >> 
 >> I guess I won't be shopping at that store again. Also after being 
 > accustomed 
 >> to never having to carry money (except maybe  afew coins in the vehicle 
 > for 
 >> the odd parking meter) hope that will be able to continue use of 
 > 'plastic'. 
 >> 
 >> Debit cards are best because, requiring use of PIN they are more secure 
 > than 
 >> a credit card. Also the transaction amount comes out of one's account 
 > almost 
 >> immediately, and does not incur interest charges. It's easy to get at any 
 >> time an on-line or toll free telephone update of the state of ones bank 
 >> account. 
 >> 
 >> Comments? Personally I'd like to see banks make it mandatory that sellers 
 >> who accept their debit cards NOT charge any additional fees. 
 >> 
 >> 
 > 
 > 
  
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