Credit Card Customers Could See New Charges on Purchases - WVVA TV Bluefield Beckley WV News, Weather and Sports

Credit Card Customers Could See New Charges on Purchases

Posted:
  • More Local NewsMore Local NewsMore>>

  • UPDATE: Rail line reopens, derailment cleanup continues

    UPDATE: Rail line reopens, derailment cleanup continues

    ROCK (WVVA) - Crews were at the site of a train derailment in a remote area of Mercer County Wednesday. The derailment occurred Tuesday night in the Rock area -- near Montcalm -- across from Route 71..More >>
    ROCK (WVVA) - Crews were at the site of a train derailment in a remote area of Mercer County Wednesday. The derailment occurred Tuesday night in the Rock area -- near Montcalm -- across from Route 71.. More >>
  • Theatre W.Va. to return for 54th season

    Theatre W.Va. to return for 54th season

    BECKLEY, W.Va. (AP) -- Theatre West Virginia is preparing to return for its 54th season following a shutdown caused by financial problems.The Register-Herald reports that Theatre West Virginia has scheduled 17 performances of "Hatfields and McCoys" this season...More >>
    BECKLEY, W.Va. (AP) -- Theatre West Virginia is preparing to return for its 54th season following a shutdown caused by financial problems.The Register-Herald reports that Theatre West Virginia has scheduled 17 performances of "Hatfields and McCoys" this season...More >>
  • Woman guilty of four charges after running over employee

    Woman guilty of four charges after running over employee

    MERCER CO. (WVVA) - Dustie Beller was on trial for running over a woman with her car all for chainsaw. While she was found not guilty of attempted murder, the jury did find her guilty of petty larceny, conspiracy, failure to stop and render aid, and malicious wounding. The victim had this to say about the verdict. "Um very happy,” Mackenzie Ansley said. “To be expected -- the attempted murder charge. I knew coming into it, it was an iffy charge. And I'll take four out of five. And I'm happy w...More >>
    MERCER CO. (WVVA) - Dustie Beller was on trial for running over a woman with her car all for chainsaw. While she was found not guilty of attempted murder, the jury did find her guilty of petty larceny, conspiracy, failure to stop and render aid, and malicious wounding. The victim had this to say about the verdict. "Um very happy,” Mackenzie Ansley said. “To be expected -- the attempted murder charge. I knew coming into it, it was an iffy charge. And I'll take four out of five. And I'm happy w...More >>

 

BLUEFIELD (WVVA) - Credit cards have been the preferred method of payment for customers for the past decade, and the fee for using them is nothing new to retailers.

"These credit card swipe fees have been in place for years and years and years," business owner Michael Dye said.

According to the National Retail Federation, Visa and Mastercard rake in $30 billion dollars from these charges a year.

While this is nothing sup rising to retailers here, there is news for credit card customers. Shoppers who use plastic could now be responsible for these "swipe fees" charged to retailers.

Starting this week, retailers can charge you a fee when you use your credit card to buy goods; up to four percent of your purchase cost. This practice is banned in ten states, but unfortunately the two-Virginias isn't among that list.

The added "checkout fee" tacked on to your bill may be one you don't notice.

 

While the law now states that this practice is okay for local retailers, the good news is it's not mandatory. Whether or not the business passes those fees is completely up to the retailer.

Michael Dye says he advises against charging customers, and says his business, Corner Stone Gifts in Bluefield will not ever charge their customers.

"Any retail outlet that tries to impose a fee on credit card usage is committing suicide in the business industry," Dye said.

Retailers who choose to charge customers the fee must post signs on their business.

Dye says because of strong local ties, most small retailers will choose not to charge their customers.

"Because a small business is truly face to face with that customer everyday, they are not going to put another burden on that customer," Dye said.

According to the Electronic Payments Coalition, retailers can only charge a fee equal to what they pay to accept the card. Typically this is between 1.5 percent and 3 percent of the entire purchase. The law states that charges cannot go above four percent.

The coalition advises customers to express their views to retailers. They say knowing your rights is important.

Retailers cannot apply the fee to debit and pre-paid purchases.

 

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WVVA.
All Rights Reserved. For more information on this site, please read our Privacy Policy, Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Audrey Sluss at (304) 324-0659. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.