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Email this9:04 pm
October 21, 2013
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@RetirEd: Was the surcharge clearly displayed? Did they draw your attention to this "innovation"? Did you have clear option of debit instead?
It's bit tricky when such expenses are carried out online. The vendor has often eliminated some or all physical outlets and staffing in favour of online or other electronic payment and now charges more for the latter. Add to this the not-infrequent difficulty accessing one's online bank to move money for e-payment.
Today I was locked out of my EQ account for no obvious reason. Had only attempted once. It took the CSR SIX (6) different emailed pass codes to straighten it out and she didn't seem to think this unusual. Some FIs don't even have 24/7 CSRs.
9:13 pm
October 21, 2013
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@doug: The question raised above was about the details of what the insurance actually covers, so that has been the focus of my analysis. We can't know what else a gov't might do.
6:14 am
February 7, 2019
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Does anyone know how merchants view the PC Money Card ... A Debit Card with points?
Do merchants get charged fees for PC Money like they do for PC MC?
| CGO |
6:24 am
April 27, 2017
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In general, this is a good thing because would allow for more transparent pricing and give clients an option to not incur this cost/impose it on the vendor.
Suspect little practical impact…
6:34 am
February 7, 2019
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mordko said
In general, this is a good thing because would allow for more transparent pricing and give clients an option to not incur this cost/impose it on the vendor.Suspect little practical impact…
I suspect these charges are already factored into a lot of cash/debit/credit pricing and this will become an add-on for credit.
| CGO |
6:56 am
April 27, 2017
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cgouimet said
I suspect these charges are already factored into a lot of cash/debit/credit pricing and this will become an add-on for credit.
Of course they are “factored in” in some way. How exactly depends on the product or service; actual pricing is usually driven by competitive market forces.
If the cost of using credit cards is hidden then there is little incentive on customers to use other payment means. In fact, customers have perverse incentives to use costly means of payment. If its explicit then cost-conscious customers are incentivized to use alternative means and cc issuers have to keep their costs in check. But the uptake of “explicit pricing” could be very limited.
8:55 am
February 7, 2019
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Bruford said
If you own CC stocks, SELL SELL SELL
I don't think added fees will change the behaviour of those who carry CC balances ...
| CGO |
11:49 am
September 7, 2018
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Paid for shoe repair by cash (I have always paid by CC).
He did not charge the HST so that was worth it.
Small businesses will do more this way - not they weren’t doing it before.
11:53 am
February 7, 2019
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Alexandre said
I've made $600 in cashbacks in 2021. It is not such a large amount that my budget will tank without it, but it was nice while it lasted.I wonder how merchants will be charging CC processing fee. Will it be one fee for any credit card, or will it be depending on the type of credit card one uses.
I have TD Visa 3% cashback card, so if grocer where I shop sets 2% generic CC processing fee, it would still make sense for me to use that credit card.Even if merchant fee exceeds my credit card cashback, I am not going to take hundreds of dollars with me in cash to pay for groceries every time I visit grocery store (once a week), and I am not going to start writing cheques again to pay my bills. The choice will be some form of electronic payment. Perhaps, not a credit card.
Like Debit ...
| CGO |
12:02 pm
March 30, 2017
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canadian.100 said
Paid for shoe repair by cash (I have always paid by CC).
He did not charge the HST so that was worth it.
Small businesses will do more this way - not they weren’t doing it before.
at least he is honest since he wont report it as income, hes not making an extra 13% on top...
12:22 pm
February 7, 2019
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savemoresaveoften said
at least he is honest since he wont report it as income, hes not making an extra 13% on top...
"Honest" to who?
| CGO |
12:36 pm
November 8, 2018
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cgouimet said
Like Debit ...
Sure. I only hope it does not end same way. I frequent small bakery shop which has a sign "We will charge you extra 25 cents for every debit transaction under $5."
1:20 pm
September 11, 2013
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Pay cash, no HST, i.e. business paying no income tax on revenue, not sending in 13% HST = underground economy transaction. "Honest" is not an applicable word.
1:22 pm
October 21, 2013
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Spouse placed online orders with CostCo and Voila (groceries) yesterday and was NOT surcharged.
2:23 pm
September 7, 2018
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Bill said
Pay cash, no HST, i.e. business paying no income tax on revenue, not sending in 13% HST = underground economy transaction. "Honest" is not an applicable word.
Yes - you are correct.
In the case of my little shoe repair guy, he applied for and received the various "freebie" handouts from the federal govt - not that I envy what he lived through during the lockdowns.
3:33 pm
February 7, 2019
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canadian.100 said
Yes - you are correct.
In the case of my little shoe repair guy, he applied for and received the various "freebie" handouts from the federal govt - not that I envy what he lived through during the lockdowns.
So ... He takes the handouts but won't contribute to what makes them possible. Not a merchant I'd do business with ...
| CGO |
3:50 pm
April 2, 2018
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canadian.100 said
Paid for shoe repair by cash (I have always paid by CC).
He did not charge the HST so that was worth it.
Small businesses will do more this way - not they weren’t doing it before.
You are supporting 'grey' economy.
Probably if you would buy high quality shoes you would not need shoe repair.
4:42 pm
October 21, 2013
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In my view, the whole HST thing is ill-conceived, should be scrapped and re-thought.
In the particular case of shoe repair, it should be tax exempt. Things that can be repaired help reduce landfill and unnecessary manufacturing and transportation, all of which are bad for the environment and our future.
In my experience, it's only good quality shoes that CAN be repaired. Cheap ones go in the garbage in one season or less. Consumers need to think more about insisting on products that can be repaired.
It's probably been at least five years since I bought a pair of shoes. I just gave away 3 pairs, almost unworn, and will not be replacing them. Even some good quality shoes can't be repaired, but I look for ones with more durable materials.
5:27 pm
September 7, 2018
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pooreva said
You are supporting 'grey' economy.
Probably if you would buy high quality shoes you would not need shoe repair.
The shoes were not Prada nor Ferregamo but they were a VERY decent pair of New Balance Running shoes (made in USA, not China) that needed some stitching reinforced just from normal usage after 5 years.
Anyways, let's strive to get some high interest rates and we will all be able to buy some Armani shoes. 
6:56 pm
April 14, 2021
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cgouimet said
So ... He takes the handouts but won't contribute to what makes them possible. Not a merchant I'd do business with ...
So, you won't do business with any of the indigenously owned enterprises, either?
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