Jul 31 2016, 02:21 PM
QUOTE(hye @ Jan 14 2012, 01:17 PM)
Mythbusters
2. Merchant charging me 2.5% is acceptable
Response: Such surcharge has been long in practice (not only in Malaysia but you'll see such practices all over the world) but do you know that Mastercard / VISA International specifically mentioned this in their T&C that any surcharges imposed as a result of using MC/VISA is strictly not allowed ? Local bank will impose a very heavy penalty for first time offenders and an absurd penalty for repeat offenders. This is to send a clear signal that such is not allowed - period. So, don't be a carrot head the next time a merchant wishes to add some % to your purchase - decline & boycott them and (if you have evidence) report them to the bank and BNM. There're creative ways that some merchants imposes these % or additional "fees" such as AirAsia and their "Convenience fees" - it does not mean it is acceptable because it is not. Personally I have raised AirAsia's practice with Mastercard / VISA International and I'd like to raise everyone's awareness on the subject. If everyone put up a protest to such practice such nonsense will eventually be a thing in the past.
It is now pretty standard practice in Australia, for merchants, banks and payment channels to officially charge extra for payment by Credit cards...including airlines, city councils, body corporate managers.....so how do they get away with it?...2. Merchant charging me 2.5% is acceptable
Response: Such surcharge has been long in practice (not only in Malaysia but you'll see such practices all over the world) but do you know that Mastercard / VISA International specifically mentioned this in their T&C that any surcharges imposed as a result of using MC/VISA is strictly not allowed ? Local bank will impose a very heavy penalty for first time offenders and an absurd penalty for repeat offenders. This is to send a clear signal that such is not allowed - period. So, don't be a carrot head the next time a merchant wishes to add some % to your purchase - decline & boycott them and (if you have evidence) report them to the bank and BNM. There're creative ways that some merchants imposes these % or additional "fees" such as AirAsia and their "Convenience fees" - it does not mean it is acceptable because it is not. Personally I have raised AirAsia's practice with Mastercard / VISA International and I'd like to raise everyone's awareness on the subject. If everyone put up a protest to such practice such nonsense will eventually be a thing in the past.
QUOTE(hye @ Jan 14 2012, 01:17 PM)
Mythbusters
3. Banks are providing me with GST waiver
Response : Learn to differentiate between GST "Waiver" and "Offset". The truth is GST cannot be offset? as it need to be paid to the government one way or another. Banks are offering you GST "offset" and not "waiver". Credit card agents / marketeers will use (more often than not) the word GST "waiver" which is wrong (intentionally/unintentionally) or they have no idea what is the difference in the application or meaning of the word.
you may want to edit that...3. Banks are providing me with GST waiver
Response : Learn to differentiate between GST "Waiver" and "Offset". The truth is GST cannot be offset? as it need to be paid to the government one way or another. Banks are offering you GST "offset" and not "waiver". Credit card agents / marketeers will use (more often than not) the word GST "waiver" which is wrong (intentionally/unintentionally) or they have no idea what is the difference in the application or meaning of the word.
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