No add on charges for credit card use, say card companies
About the article
This is a digitised version of an article from The Cayman Compass's print archive. Occasionally, the digitisation process introduces transcription errors, or other problems.
See the article in its original context from February 1997.
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An incident last week reported to Police involved a Grand Cayman retail operation that was adding on four percent to a customer's bill when the customer paid by credit card. The add-on charge was reportedly to offset the four percent that the credit card company deducts from the merchant credit card slips for guaranteeing payment of a credit card charge with the merchant. The incident was reported to the RCIP and the Commercial Crime Branch is investigating.
A spokesperson for the Cayman office of Mastercard said such practices violated the rules and regulations of Mastercard usage. A merchant engaging in such practice could face a fine of up to US$5,000 by the company.
Officials at the local offices of American Express and Visa said their credit cards have similar arrangements.
Anyone who pays by credit card and observes an "add-on" charge on their bill to offset the percentage taken by the credit card company should report such a practice to the appropriate credit card office, a credit card company spokesperson said.
