Target no longer taking cheques

[tvguy]

You should be able to use a debit card without paying the credit card surcharge.

Doesn't matter, debit cards charge the merchant a surcharge just like credit cards, and more and more merchants are passing that on to the customer.

 

[kdonnel]

Doesn't matter, debit cards charge the merchant a surcharge just like credit cards, and more and more merchants are passing that on to the customer.

The smart merchants have always been passing on the cost of doing business.

It’s the dumb ones who are highlighting it as an additional fee, because you know people love extra fees called out.

 

[bookgirl]

Walmart still accepts personal checks, Target is basically the direct competitor but I'm not sure if Walmart would immediately file suit and stop accepting personal checks, just based on observations I hadn't really seen many people use a personal check at Target but more common (though still a lot less than years prior) at Walmart.

Technically WalMart doesn't accept cheques. The register has a reader that they send the check through to get the routing and account numbers to do a direct bank transfer.

It's why they used to hand you back the cheque after your 'paid'.

Saying that I haven't written them a cheque in over 4 years so it could have changed but I worked there in Grad School and still remember some of the quirks.

 

[Mackenzie Click-Mickelson]

Technically WalMart doesn't accept cheques. The register has a reader that they send the check through to get the routing and account numbers to do a direct bank transfer.

It's why they used to hand you back the cheque after your 'paid'.

Saying that I haven't written them a cheque in over 4 years so it could have changed but I worked there in Grad School and still remember some of the quirks.

That's the same thing as accepting the check. Yes I know that they return the check to the person but they are accepting a personal check as a method of payment. Much of the returning the check to the person has a lot to do with how personal checks are handled now from a banking institution. It used to be that it would take multiple business days to clear your account. It no longer does that and can be removed immediately same as when you're depositing a check the funds are part of your available balance immediately. At least with most banking institutions in the last 10 years.

However, that is different from a place of business no longer accepting a personal check as a method of payment. Walmart still does.

 

[Starport Seven-Five]

You should be able to use a debit card without paying the credit card surcharge.

I would advise everyone to not use a debit card for transactions. If your debit card number is stolen it can be a huge headache because most banks will not reimburse you for the stolen funds until an investigation is complete. I’ve even heard of cases where the account gets frozen for a period of time.

 

[tvguy]

The smart merchants have always been passing on the cost of doing business.

It’s the dumb ones who are highlighting it as an additional fee, because you know people love extra fees called out.

Well, during my trip to Missouri and Illinois in March, it wasn't presented as an extra fee. There was the price, and below it was the discounted the cash price.
But face it, SOMEBODY has to pay for all the rewards money we all treasure.

 

[CdnCarrie]

I would advise everyone to not use a debit card for transactions. If your debit card number is stolen it can be a huge headache because most banks will not reimburse you for the stolen funds until an investigation is complete. I’ve even heard of cases where the account gets frozen for a period of time.

Debit is king in Canada. It's probably the most used method of paying things. Debit and credit cards.

 

[ford family]

In the UK and probably the rest of Europe it is illegal to charge consumers extra for using a credit or debit card.

Some retailers accept only Visa and MasterCard because American Express makes a higher charge on them.

ford family

 

[CdnCarrie]

In the UK and probably the rest of Europe it is illegal to charge consumers extra for using a credit or debit card.

Some retailers accept only Visa and MasterCard because American Express makes a higher charge on them.

ford family

Sounds like a cash discount is common in some parts of the USA. Never seen it in Canada.

 

[soccerdad72]

Some retailers accept only Visa and MasterCard because American Express makes a higher charge on them.

We always travel overseas with a second credit card (a Visa) because we found that AmEx is not commonly accepted by many merchants.

 

[ford family]

Sounds like a cash discount is common in some parts of the USA. Never seen it in Canada.

Cash discounts here in UK may be offered by tradespeople working "off the books' to circumvent value added tax but retailers cannot offer two tier pricing.
Anyway, the cost of handling cash for the business owner is about in line with credit card charges so there is no real advantage.

ford family

 

[Smugpugmug]

Sounds like a cash discount is common in some parts of the USA. Never seen it in Canada.

Even in the US, it's regional. I have never seen any store or restaurant around me (Maryland) do cash discounts. If anything, more places are becoming cashless. I saw that a cafe I sometimes go to swapped over to being cashless and you have to order at a kiosk similar to the ones they have at McDonalds.

 

[DeeBee3]

NYS recently passed legislation that businesses have to clearly explain the extra fee for credit cards. It has to be displayed and explained or the business could get fined if reported.

 

[ford family]

We always travel overseas with a second credit card (a Visa) because we found that AmEx is not commonly accepted by many merchants.

We too travel a great deal but never use Amex outside of the UK because their very poor exchange rates quickly subsumes any cashback value! Far better to use another credit card that doesn't load the exchange rate.
As well as GBP we also have US dollar and Euro checking accounts and find it advantageous to add balances to those using a competitive FX specialist and then use debit cards to either settle bills or draw cash at ATMs.

ford family

 

[tzolkin]

Doesn't matter, debit cards charge the merchant a surcharge just like credit cards, and more and more merchants are passing that on to the customer.

It does matter. U.S. merchants cannot surcharge debit card or prepaid card purchases. They are only allowed to surcharge credit card transactions.

The smart merchants have always been passing on the cost of doing business.

It’s the dumb ones who are highlighting it as an additional fee, because you know people love extra fees called out.

They are legally required to disclose a credit card surcharge.

Certainly, they could pass the cost along by raising all their prices by 3%, but they cannot charge a surcharge for using a credit card without clearly letting the consumer know. The surcharge must be listed on every receipt and also must be clearly posted at the point-of-entry and point-of-sale.

 

[tvguy]

It does matter. U.S. merchants cannot surcharge debit card or prepaid card purchases. They are only allowed to surcharge credit card transactions.


They are legally required to disclose a credit card surcharge.

Certainly, they could pass the cost along by raising all their prices by 3%, but they cannot charge a surcharge for using a credit card without clearly letting the consumer know. The surcharge must be listed on every receipt and also must be clearly posted at the point-of-entry and point-of-sale.

Well, they are surcharging both.

 

[kdonnel]

Certainly, they could pass the cost along by raising all their prices by 3%, but they cannot charge a surcharge for using a credit card without clearly letting the consumer know. The surcharge must be listed on every receipt and also must be clearly posted at the point-of-entry and point-of-sale.

Which is why they should roll all costs of doing business into their pricing.

Consumers don’t like seeing an itemized surcharge. Not for credit cards, not for healthcare, not for living wage, or any of the other fees some businesses have started detailing.

I want to see the price and know I am paying sales tax on that, that’s it.

I don’t want to be surprised by a 3% credit card fee, a 10% healthcare fee, and a 5% concession fee, and so on.

When that happens it is generally the last time I am a customer of that business.

 

[tzolkin]

Well, they are surcharging both.

Then they should be reported for scamming their customers.

Merchants are allowed to surcharge (in most states) because they are essentially passing along the processing fees that they pay to the credit card companies to their customers. (Ex. Visa charges them 3% for the transaction, so they add a 3% fee to the customer so they come out even regardless of the form of payment). The merchant is not being charged the same fees for debit cards, so the 3% surcharge that they add to the bill is going into their pocket not to cover the fees.

 

[tvguy]

Then they should be reported for scamming their customers.

Merchants are allowed to surcharge (in most states) because they are essentially passing along the processing fees that they pay to the credit card companies to their customers. (Ex. Visa charges them 3% for the transaction, so they add a 3% fee to the customer so they come out even regardless of the form of payment). The merchant is not being charged the same fees for debit cards, so the 3% surcharge that they add to the bill is going into their pocket not to cover the fees.

No scam, perfectly legal.




The average cost to process a debit card transaction is 0.74% per transaction or $0.34. This data comes from the Federal Reserve, and includes all types of debit transactions, including exempt and covered transactions from all networks.Jan 15, 2024
EDIT: Here is a better explaination. https://www.nerdwallet.com/article/small-business/debit-card-processing-fees

 

[kdonnel]

No scam, perfectly legal.

The Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibits surcharges for debit transactions.

However, merchants may be able to charge a flat fee called a "convenience fee" to customers who use a debit card if they also offer a direct payment option, like cash, check, or money order, that doesn't incur a fee.