Shops charging more for NETS/Credit Card use

[Zoomster]

Hi all

Just wanted to see if CSers were tired of some shops, and this applies not only to camera shops, but many others too.

Scenario:
Go to a shop. Ask price for item. Salesperson gives quote of $X.

Waah very happy with price. Get ready to pay via NETS or credit card
and salesperson say must charge X% extra for such purchases.

Is this fair? :dunno:

I thot there were some regulation that shops cannot charge extra for NETS purchases.

I know some will say that its only fair for the retailers to charge the extra % cos they end up paying the extra charges to NETS and the banks. But for consumers like me, i find it damn irritating that we have to pay extra for trying to go cashless. Huh, seems like a stupid idea the govt started. Don't thing that is working right now.:sticktong

Recent e.g. i wanted a notebook. went to shop in Funan and saw a Dell i liked. Very very interested in buying. but was told that price was cash only! Sigh. I just walked away.

Do shops expect customers to walk around carrying wads of cash? Kena robbed how? Ha ha!

 

[Astin]

No need to carry wads of cash, u can go to bank to change for those big note, a one piece S$10,000 note should be enough for u to buy most DSLR or notebook....

 

[2evans]

Wether its online quote or verbal quotes, knowing the price is with gst, cash only, etc should be clearly defined. It's up to the buyer to ensure they are aware of the actual terms, if the terms are not defined.

That being said, with the slowing economy, buyers should have more bargaining power so you'd think they'd be willing to forgo the 3% CC charge on top of the cash price.

 

[aryanto]

There is always ATM nearby normally. why so lazy just walk there. I boycott NETS anyway, they are actually charging shops more for the same payment functionality. If you are a shop owner guess what ... that cost will be passed to consumer, esp small shops with low profit margin.

On top of that, money does not go to cash register on daily basis. NETS normally have some periodical consolidation, so again if you are shop owner, which one you prefer?
My symphaty to those shops. That is why I almost always pay with CASH (and I ask them if it is cheaper if I pay CASH, LOL. Normally they give me a bit of discount, depending on the actual amount of course, even as low as $2 I accept it.)

 

[gazkw]

i thought this is already normal practice in singapore for electronics and most people already know this.

prices are always better on cash terms. higher charge for NETS and Credit cards.

previously NETS was very low % charge, but 2 years ago they increased it to 2%. this hurts shops margins.

CC is worse at 4%.

ofc if you want to pay with the convenience, then you can pay for it extra %.

if not, just step to any ATM and purchase at lower price.

 

[+evenstar]

No need to carry wads of cash, u can go to bank to change for those big note, a one piece S$10,000 note should be enough for u to buy most DSLR or notebook....

the process of using a $10,000 note is VERY tedious..shops have to verify the note and your identity with the bank before they'll accept it

 

[zj2000]

I used to work in a shop selling notebooks after A levels. You might not believe it but the margins on some of the notebooks could be as little $30. Especially at funan or simlim where there are lots of competition.

 

[vince123123]

There is no regulations, in the sense of legislation or subsidiary legislations prohibiting this practice.

However, I understand that each merchant has a contractual obligation to NETS NOT to do these things. Hence, you can report to NETS on the errant retailer and see if they will take action. In your report, also highlight your displeasure at having to pay extra and that will deter you from paying via NETS.

In that way, NETS will see their bottom line being hit, and hence will be hopefully be spurred to take action.

Hi all

Just wanted to see if CSers were tired of some shops, and this applies not only to camera shops, but many others too.

Scenario:
Go to a shop. Ask price for item. Salesperson gives quote of $X.

Waah very happy with price. Get ready to pay via NETS or credit card
and salesperson say must charge X% extra for such purchases.

Is this fair? :dunno:

I thot there were some regulation that shops cannot charge extra for NETS purchases.

I know some will say that its only fair for the retailers to charge the extra % cos they end up paying the extra charges to NETS and the banks. But for consumers like me, i find it damn irritating that we have to pay extra for trying to go cashless. Huh, seems like a stupid idea the govt started. Don't thing that is working right now.:sticktong

Recent e.g. i wanted a notebook. went to shop in Funan and saw a Dell i liked. Very very interested in buying. but was told that price was cash only! Sigh. I just walked away.

Do shops expect customers to walk around carrying wads of cash? Kena robbed how? Ha ha!

 

[ortega]

use your rights as a consumer
vote with your money, just tell them no
and spend your money elsewhere

 

[Del_CtrlnoAlt]

just see SLS's price list... some shops have funny way of adding price for Nets and CC payment... like Cash Only inclusive GST, Nets additional 1%, Visa/Mastercard subjected to GST... which was like, so the prices is not inclusive GST, pay cash, absorb GST, pay CC, 7% extra... winner...

Then some have it like, Price can use CC, 1% discount for Nets, 2% discount for Cash...

either way, Cash is King.

 

[Del_CtrlnoAlt]

use your rights as a consumer
vote with your money, just tell them no
and spend your money elsewhere

true, just go there, if they insist to charge, just walk off... since other shop may offer better offers... but if thats the last piece... u better dun chut this kinda pattern... jolly well go withdraw cash...

 

[ggodetucsamoht]

for nets to charge extra i think is too much. credit card is still ok. alot of places oversea does the same thing. they will charge additional visa user on some handling fees.

 

[nhyone]

the process of using a $10,000 note is VERY tedious..shops have to verify the note and your identity with the bank before they'll accept it

Most shops may not accept a $10k note because they seldom see it, but $1,000 notes are not that rare.

 

[Zoomster]

Thanks for all your inputs folks.

Yup, will walk away next time when faced with sudden increase in
price when paying with nets or CC.

I dont like being reeled in with a low price but then having to pay
extra if i want to go cashless.

cheers