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

Treasurer Jim Chalmers says changes will help with cost of living and ‘Australians hate paying’ the surcharges

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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.