The Antigua Barbuda Bankers Association (ABBA) is putting businesses on notice that the practice of applying surcharges and minimum-transaction amounts to card transactions is not permitted in this country or region.
The ABBA acknowledges, however, that it is a practice allowed in the United States and its territories.
According to the Association, Visa procedures that are applicable to this jurisdiction state: ” With the exception of credit-card transactions originating in the US region or a US territory, a merchant must not establish a minimum or maximum transaction amount as a condition for honouring the card.”
Further, with the exception of credit-card transactions originating in the US region or a US territory, a merchant must not add any amount over the advertised or normal price to a transaction, unless applicable laws or regulations expressly require that a merchant be permitted to impose a surcharge.
Visa Rules also say that any surcharge, if allowed, must be included in the transaction amount and not collected separately.
Given the foregoing, the Bankers Association is advising consumers who may encounter issues related to surcharges and minimum-transaction amounts to report the incident to the merchant’s bank.
Merchants, meanwhile, are urged to adhere to their card-issuer rules and protocols in order to avoid penalties. They are reminded, as well, that their bank’s logo should be displayed on their card machines.