The European Commission is opening formal antitrust proceedings against Visa Europe Limited in connection to how much it charges for cross-border transactions. Visa International was investigated by the Commission over multilateral interchange fees(MIF) in 2002 and exempted when Visa offered to reduce fees from 1.1 per cent to 0 …
I read that as *vista* the first two times. Chance would be a fine thing.
European Commision should just f--- off. Besides the charges are ---- all when compared to SWIFT bank charges.
A: Swift is SLOW
B: Swift is EXPENSIVE, don't use it unless you're transfering thousands of pounds.
C: Swift give all your details to the septics.
I think that more attention should be paid to the fact that the cash machine outside the trainstation that charges £1.75 per transaction.
Also evidently the EC can't count 1% is in no way paying twice, it is infact paying one and one hundredth. But this is Europe we're talking about.
The UK's Office of Fair Trading
"The UK's Office of Fair Trading made similar complaints against credit card companies in 2005..."
Q:OK, where are we now, 2008, and what happened about that 'complaint' then?
Office of Fair Trading big on taking green grocers to court for dodgy scales.
Roll over for real miscreants (Banks, Telcos etc.)
@Ac - paying twice
It is in fact paying twice, once for the good/service and once for the card transaction.
Once + once = twice
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