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Banning debit card surcharges could save $500 million a year – if traders don’t claw back the money in other ways

  • Written by Angel Zhong, Associate Professor of Finance, RMIT University
Banning debit card surcharges could save $500 million a year – if traders don’t claw back the money in other waysGaldric PS/Shutterstock

In a move that could reshape how Australians pay for everyday purchases, the federal government is preparing to ban businesses from slapping surcharges on debit card transactions.

This plan, pending a review by the Reserve Bank of Australia (RBA), promises to put money back into consumers’ pockets.

The RBA, which is...

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