00:00While this cafe looks busy, costs keep rising.
00:06The owners worry the ban on surcharges will be another cost the business will have to
00:11absorb.
00:12It shouldn't go on the businesses, so already businesses are struggling.
00:17But customers want change.
00:18It's estimated Australians are losing nearly a billion dollars a year, according to analysis
00:23based on RBA data.
00:26I don't like paying them, I don't think anyone likes paying them, and I think it's a pretty
00:31opaque system.
00:32We don't really know where they're going and how much is being charged to us.
00:36It's that transparency that the government's hoping to improve.
00:40Consumers are right.
00:41They don't think it's fair that they get slugged surcharges for accessing their own money.
00:47The lobby group for the big banks says it's a cost that has to be borne by business.
00:52We know that many businesses are surcharging over and above what they're allowed to do.
00:57When you use your card and choose the EFTPOS network, the transaction will cost the business
01:01an average of 30 cents on a $100 purchase.
01:05Otherwise the transaction will go through the Mastercard or Visa network, which will
01:09cost an average of 50 cents.
01:11Credit card purchases are even more expensive to process.
01:15The RBA review will look at options to reduce transaction costs.
01:19But if surcharges are banned, it's unclear whether banks or businesses will absorb the
01:23costs.
01:24They may have to pass it on to consumers in the form of higher prices.
01:29The government is threatening to ban surcharges by January 2026.
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