8 September 2026
From 1 October 2026, businesses will no longer be able to add a surcharge when you pay with eftpos, Visa, Mastercard or American Express. That means no extra fee for tapping or inserting your card at the checkout.
This change comes from reforms by the Reserve Bank of Australia. The goal is simpler, more transparent pricing for customers and businesses. In most cases, the price you see will be the price you pay.
Some other charges, like weekend or public holiday surcharges, are not affected by this change.
Latest news
Banks welcome Treasurer Jim Chalmers’ release today of draft regulations to lift the cap on covered bond issuance, a practical step that would help small and mid-tier banks access cheaper, more stable funding. ABA CEO Simon Birmingham said these changes, including streamlined reporting for smaller banks, are a welcome part of the Government’s broader productivity… Read more »
Banks have welcomed Shadow Treasurer Tim Wilson’s call today for the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) to give more weight to economic growth in their decision making. ABA CEO Simon Birmingham said regulation that supports growth is key to lifting productivity across the economy. “Banks want to… Read more »
E&OETV InterviewInterview ABC Afternoon Briefing19 October 2026 Topics: Australia-EU free trade deal, investment benefits Patricia Karvelas: Simon Birmingham is the CEO of the Australian Banking Association, but he’s a former finance minister in a previous coalition government. And our guest, welcome to the program. Simon Birmingham: Hi, Patricia. Good to be with you again. Patricia… Read more »