Credit-card users who are told to pay extra if they use their cards instead of cash should be aware that merchants are not allowed to impose merchant fees on users as stipulated in the card associations’ operating regulations.
Under the Bank Negara credit-card guidelines, banks are required to display prominently on the credit-card application forms their fees and charges table. banks are also required to print on the monthly billing statements to credit-card holders information on the various charges imposed on the oustanding balances and method of computation of such charges.
A comparison of rates charged by banks can be obtained from the bankinginfo.com website.
Banks would act on complaints from cardholders on “unacceptable practices by merchants’’. Cardholders should not accept any imposition of surchange, report such incident to the bank or go to other merchants that do not impose surcharge
Cardholders can report “unacceptable practices by merchants’’ Association of Banks in Malaysia (ABM) or directly to merchants bank.