Debit and credit card surcharges to be removed in Australia by October

Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surcharges

Debit and credit card surcharges will be gone by October under Reserve Bank reforms, with big banks likely to foot the bill for the cost-of-living measures.

The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments.