Cootamundra-Gundagai Regional Council (CGRC) has been pressed to implement a 1% surcharge on credit card transactions due to the rising cost of bank fees.
The surcharge primarily covers the costs associated with processing credit card payments. The fees are imposed by the credit card companies and payment processors which can be a percentage of the transaction value.
The surcharge has been reintroduced after being cancelled in 2020. Since then, CGRC has paid a significant amount in merchant fees to process credit card transactions.
CGRC Mayor Councillor Abb McAlister said this cost needs to be recouped.
“We have over time, tried to delay this surcharge on credit card transactions, it has been a cost borne by Council and ultimately ratepayers, however with the increasing cost of processing fees and credit card transactions increasing, this is no longer a situation that all ratepayers should be burdened with,” Councillor McAlister said.
The 1% surcharge on all credit card transactions will be implemented from 1 July 2025.
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