Story perspectives

RBA Eliminates Card Surcharges, Saving Consumers $1.6 Billion

4/4/2026

Summary

Story summary

The Reserve Bank of Australia will eliminate surcharges on credit and debit card payments starting October 1, saving consumers about $1.6 billion annually.
RBA Governor Michele Bullock said current surcharging rules are complex and confusing for consumers.
Small business groups caution that banning surcharges could lead to higher prices for consumers.
The RBA plans to reduce the cap on fees banks can charge businesses, saving around $910 million each year.

1 of 1

Story summary

The Reserve Bank of Australia will eliminate surcharges on credit and debit card payments starting October 1, saving consumers about $1.6 billion annually.
RBA Governor Michele Bullock said current surcharging rules are complex and confusing for consumers.
Small business groups caution that banning surcharges could lead to higher prices for consumers.
The RBA plans to reduce the cap on fees banks can charge businesses, saving around $910 million each year.