I’m at my barber shop and I was just thinking I’m gonna be charged a 2 dollars fee because im using a debit card and im reading a article that says they can’t do this because im using a debit card and it is only allowed towards credit cards
I live in Texas and the hair cut is 22 dollars
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By using a card a business gets charged a fee for that service. This % can be different between credit cards and debit cards but is generally between 0.5% and 2%.
A $2 surcharge fee on top of $22 is a lot more than the percentage (9%) that the bank will charge the merchant, and thus the shop is making more money from you for the same service
In some industries they may also be trying to persuade people to pay with cash since its a lot easier to “hide” and not declare that income for tax purposes. Having money via card hitting their bank account leaves a paper trail and harder to hide to reduce tax obligations.
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