Join the dash back to cash
I've noticed over the last few months that more and more businesses are adding a few cents to the price of stuff bought with debit cards by adding a "surcharge".
It seems to be getting worse recently. It must be for me to notice. I usually don't notice anything.
Apparently this was all due to rule changes by the Reserve Bank - the same outfit that brought us sky high mortgage interest rates.
It seems they are tireless when it comes to finding new ways to squeeze the very last cent they can out of our pockets.
These charges are designed to help businesses pay whatever the bank charges them to process these cards.
A cynical person might think that this encourages banks to keep their charges high as it is not the businesses that suffer, it's their customers: a form of legalised price gouging.
It's prompted me to write a little poem.
The banks are making lots of dough
Out of your hard earned cash flow.
When you go to the club and buy a drink
It costs a little bit more than you think.
A few cents added by way of a surcharge
Whenever you pay with your debit card.
It's getting worse and it won't be funny
When we've no longer got folding money.
The banks will go crazy with charges on charges
And chortle with glee as their profit enlarges.
Stop them now, in their tracks
Join the dash back to cash!
SOURCE:
Email, 16 Mar 2024
Francis Wiffen, Woy Woy