no merchant establishment charges this amount if you are buying goods at MRP. its charged when you are bargaining on shopkeepers original price, or you are buying at a discounted price. Even at MRP, certain things like mobile refills, where the gross margin is 2/3%, is specifially advertised that cards not accepted, for this item. So this article I feel is incorrect, as I have still to come across where transaction fees is being charged on an item being purchased at MRP. Even discounted price normally they dont charge. Its generally charged at bargained prices, where they bargain at two prices, one for cash, and other for card.
RE:transaction fees
by on Nov 23, 2007 09:14 AM Permalink
Goel,
What about Shell petrol stations in Bangalore. If you pay using ICICI credit card for the gas here they charge transaction fee. Do you think people bargain for petrol prices.
RE:transaction fees
by Jignesh Gunvantrai Gandhi on Nov 23, 2007 10:49 AM Permalink
On applying the credit card and the booklet that came with your credit card clearly mentions that you will be charged 2.5% or minimum Rs. 10 for petrol. That charge is not charged by the petrol pumps but by the Bank itself.
