Quote:
Originally Posted by JMintzer
YOU don't get charged by your bank when you use your credit card either... No one has been talking about that.
The business DOES get charged for BOTH Debit AND Credit Cards...
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The business gets charged a nominal fee for a Debit Card, unless they're doing busing with some tiny bank, that's exempt.
It's a violation of Federal Law (Durbin Amendment) to charge a surcharge on Debit Card or a Pre-Paid Card transaction.
What CC processors can charge for Debit Card transactions is also regulated by the Durbin Amendment and it's significant less than the transaction fee for a Credit Card.
If I'm not mistaken, all VISA & MC Merchant Agreements also prohibit charges for Debit Card use and will deny the charge.