U.K. credit card users are about to get a break that could save them millions.
"All extra charges added to payments for goods and services made by card are to be outlawed, ending a 'rip-off' that costs Britons hundreds of millions of pounds a year," reports The Guardian, writing that the loss to consumers amounted to an estimated £473 million in 2010. Right now, many merchants and government agencies alike can charge consumers more for the ability to pay with plastic.
The changes will go into effect January 2018.
Surcharges and "convenience fees" — such as the extra dollar or so a movie theater charges you to buy tickets in advance with a card, and the 2.9 percent plus $.30 merchants must pay for each digital sale they make via PayPal — are still common in the U.S. That's thanks to regulations that allow sellers to charge customers who pay with credit a surcharge to account for processing and merchant fees, according to The National Conference of State Legislators.