• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

ALDI's surcharge disclosure not up to scratch

19 August 2014 3:39PM
Retailer ALDI has agreed to improve signage in its stores informing customers about credit card surcharges, following a finding by the Australian Securities and Investments Commission that the retailer did not have consistent disclosure in all its stores.ASIC also found that ALDI did not disclose that it applied a surcharge to contactless payments, whether made with a debit or credit card.The surcharge is 0.5 per cent of the purchase price.Under the ASIC Act, a failure to adequately disclose surcharges, or creating an impression that surcharges do not apply, may be misleading or deceptive.For credit card payments where a PIN or signature was used, in some stores disclosure of the surcharge was on the payment terminal screen. ASIC said this was too late. ASIC said merchants needed to be "transparent about fees and charges".

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use