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#1686180 - 04/05/12 04:37 PM credit card fees
pchandler Offline
Junior Member
Joined: Mar 2004
Posts: 37
ky
What is the maximum a bank can charge for a cash advance fee on a credit card? What fees can banks charge or cannot charge on credit cards? Are we okay as long as we disclose the fees? Thanks.

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#1686269 - 04/05/12 07:16 PM Re: credit card fees pchandler
Double U Offline
100 Club
Double U
Joined: Jul 2008
Posts: 219
BBN
Paulac,

If you are a VISA or Mastercard acquirer, you are not allowed to charge any fee for these services. In their contract, they state that you cannot compensate for these services due to VISA or Mastercard compensating you everytime you run one of these transactions. I realize the compensation may not be much, but if you are doing business as their acquirer, you are not allowed to charge. Hope that helps.

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#1686315 - 04/05/12 08:44 PM Re: credit card fees Double U
pchandler Offline
Junior Member
Joined: Mar 2004
Posts: 37
ky
I apologize for the confusion, but I was referring to our own credit cards to be issued. Can we do that?

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#1686376 - 04/06/12 01:05 AM Re: credit card fees pchandler
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,926
Galveston, TX
You actually issue your own credit cards? I'm sure they must be through Visa or Mastercard even if they have your name on them.
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#1686409 - 04/06/12 01:07 PM Re: credit card fees pchandler
pchandler Offline
Junior Member
Joined: Mar 2004
Posts: 37
ky
Sorry, again. We just want to know what fees, and how much, we can charge. What is the limit allowed for banks in KY?

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