Australian Government Moves to Ban Debit Card Fees

The federal government has announced plans to ban debit card surcharges as part of a crackdown on excessive fees linked to card payments. To support this initiative, the Australian Competition and Consumer Commission (ACCC) will receive $2.1 million in funding to enhance enforcement. The move aligns with the Reserve Bank of Australia’s (RBA) ongoing review of merchant payment costs and surcharging. The review addresses growing frustration from consumers and businesses over hidden fees in everyday transactions. If approved, the ban on debit card payment fees could come into effect by January 2026. Prime Minister Anthony Albanese said that the government’s primary focus is to alleviate the pressures of cost of living on households and businesses....