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Brunei: Credit card surcharges needed to cover transaction cost: retailers
Brunei: Credit card surcharges needed to cover transaction cost: retailers
THURSDAY, AUGUST 11, 2016 – SEVERAL retailers continue to impose credit card charges on their customers, noting that they only do so for purchases made via installment.
This, even if the Autoriti Monetari Brunei Darussalam (AMBD) and the Brunei Association of Banks (BAB) have said that such practice is illegal.
But vendors interviewed by The Brunei Times said they imposed the surcharges to cover the minimum monthly service charge applied by the banks for processing the retailers? card transactions.
A staff at a jewellery shop in Gadong said the shop charges three per cent of the total price of any jewellery item that a customer buys on installment.
?We charge three per cent if customers buy on installment to cover the cost of the bank transfer,? he said.
A manager in a electronic shop in Bandar said they impose surcharges for customers who buy items via installment.
?If the price of the electronic goods is more than $1,500 and the customers want to pay using credit card on installment, we will add in three per cent bank charge,? she said.?Read More?