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Credit

For a fee when paying with a credit card: everything to prohibit surcharging

If the bill is suddenly higher than expected when shopping online or at the checkout, this may be due to the fees for credit card payments. Depending on the dealer’s handling, they are added to the price of the goods. The more or less new surcharging ban now prohibits these extra costs. We took a look at what the ban is about, what exceptions exist and what you can do if you still come across payment fees.

Surcharging fees were particularly difficult for flight and travel bookings, so that in the end there were sometimes ten euros more on the bill. But that has come to an end since the beginning of the year. The reason for this is the implementation of a directive of the European Union.

How the government wants to make cashless payments more consumer-friendly

Since January 13, 2018, a further development of the “First Payment Services Directive” of the EU has saved fees on credit card payments.

Where previously only “a common and reasonable” means of payment had to be offered without additional costs, § 270a in the Civil Code now states that merchant clauses, the additional costs, ie surcharges or payment method fees, when paying by “SEPA core direct debit, SEPA company direct debit, SEPA transfer or a payment card ”are ineffective. Common cards can be, for example, checking cards, but also Visa and MasterCards.

The law is based on EU law and is intended to promote and facilitate “the use of electronic payments for the benefit of retailers and consumers” as well as “fair competition, innovations and the market entry of new providers”. Europe-wide cashless payments are to be adapted to domestic ones in order to create a level playing field within the EU.

This change in law affects the entire EU, as well as online and brick-and-mortar retail. Franco Gee from the Federation of German Consumer Organizations sees this as “an important development”.

With the surcharging ban, merchants are prohibited from charging separate costs for the payment methods described in the law. Online sellers in particular, who have previously done this, must remove the surcharges from the buying process.

Whenever credit card payment fees are still allowed

Only credit cards issued by four-party card payment schemes are included in the law. As a result, credit cards, like the American Express, which is not widely used in Germany, fall outside the law.

In addition, companies that want to pay by credit card can still be imposed on Surcharges. Only the SEPA direct debit procedure is exempt from fees for both consumers and commercial customers.

The government has also decided to exclude the PayPal payment service from the law. As a result, however, the company acted itself and, in January, prohibited additional fees in its general terms and conditions for offering payment via PayPal. If a merchant violates PayPal’s terms and conditions, his account can be blocked. However, the payment service has special agreements with some large companies.

What you can do if you violate payment method fees

Similar to since the new European data protection regulation came into force, according to the Capital Lender, merchants who do not comply with the “Second Payment Services Directive” can be warned under competition law. But what can you do to make it happen?

  • If, for example, you encounter separate costs for the above-mentioned payment cards when shopping online during checkout despite the prohibition on surcharge, you can first contact consumer protection.
  • It refers to a complaining user in a contribution from March 20 to legal assistance. Many lawyers offer free initial assessments of the legal situation, which you can take advantage of and decide on depending on the outcome. There are also several ways to get legal advice on a budget.
  • The competition center also offers an online complaint form.

According to the law, claims for fees are simply ineffective with the payment methods mentioned above. If you have been charged the payment method fees mentioned in the context of the surcharging ban, you can request them back.

We would like to point out that our articles are only editorial content for the purpose of information, which do not constitute legal advice or the like.

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Credit

Get credit fast & easy – we are looking for you!

We help you to get a quick loan!

We help you to get a quick loan!

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Credit calculator

Credit calculator

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Tip: You should know your own credit rating. Read more about how you can apply for a free Vedu self-assessment in just 3 minutes.

Caution:
If you’re in a hurry, you’ll find a search order at the bottom of this article. We are looking for you lenders who can lend you money today!

A cheap loan or a loan which you need for a bigger financing. I’ll let you know what you need to know to apply for an online loan. How do you get a cheap online loan? And how can you get a loan from private individuals?

A Swiss loan is a Vedu-free loan because it is not registered in Vedu from abroad, namely Switzerland. That is, if you want to prevent it from having an entry in the Vedu, then offers a foreign loan and also a Swiss loan an alternative.

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Instant credit

Instant credit

The repayment of an instant loan can be very simple. As you already know, an instant loan is an installment loan. This means that you have a payment in installments monthly on the one hand pay back the capital stock and the agreed interest.

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On my pages you can find credit calculators that allow you to calculate the rates for your loan quickly. This will make you realize immediately how much money you can borrow.

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So you see, it’s relatively easy to get a loan online quickly and directly. However, it is another matter to be able to pay back your monthly repayments or installments.

Personal loans

Personal loans

The best way to get a financial overview is the so-called revenue-expenditure-account. This will tell you how it is about your finances and how much money you can also absorb and subsequently pay back.

If you make your revenue-spending bill then make sure that you also charge all the costs. A help for this are your monthly statements. In it you will find all the expenses you need each month to make ends meet.

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Only if you can afford your financial bottleneck also makes sense to take an instant loan. If you recognize in your revenue-expenditure-bill that you can not afford a loan then I advise you not to apply for a new loan quickly.

In this case, I recommend you to seek professional debt counseling.

Apply for a loan quickly and get an early repayment

Apply for a loan quickly and get an early repayment

An agreement that is always incomprehensible to me is the fact that every bank also charges for a premature repayment of a loan. The reason is the following. Whether the bank or private lenders have lent you money. Borrowing money is a business and the private lender as well as the bank assume that they will do business with you with the borrowed money at the agreed interest rates.

If you can repay your credit agreement early then of course the bank as well as the private lender lose their investment.

You do not really think bad. Because you think you can pay back your loan quickly and that’s a good thing. As already said, it is a good thing for you, but for Partner Bank or a private lender, it is actually something you can not earn more money with.

It is amazing to me that it is still legal in Europe to add one of these clauses in the agreement. Namely that in case of a premature repayment of a loan, for example, the entire amount of interest must be paid back.

Or certain fees or a so-called fixed prepayment penalty. The important thing is that you read the terms and conditions in the loan agreement. And these terms and conditions you have signed then also valid.

Therefore, I advise you to read the terms and conditions for a loan always carefully and accurately.

A fast and secure instant loan is also very often called quick loan.

This fast loan has often had a bad reputation in the past. This is because these instant loans have high interest rates as well as hidden costs.

It is important to know what conditions and agreements and terms you want to take your instant loan. The conditions for a loan differ significantly depending on the lender.

I have also provided you with the market interest rates on my pages. There you will find a loan list with a loan calculator where you can determine to which conditions and at which interest rates you can take up a loan quickly.

Many people talk about an extremely high interest rate or so-called usury. In order to recognize extremely high interest rates, it is important to know the general market situation of interest rates.

Fast credit

Fast credit

For most private lenders, the indication of the Vedu information is a prerequisite to be able to apply for an instant loan. Of course, the Vedu statement and the credit rating is queried.

The better your credit rating, the better your interest rate should be. That’s why it’s important to improve your Vedu Score. In many cases, you can choose a monthly installment by choosing the term for your loan.

The private lenders decide not only because of your Vedu scores but also take into account other features of your credit rating. As mentioned earlier, it also helps in many cases to deposit a car letter.

Be aware that a small loan or instant loan or any fast loan should be a help for a temporary financial distress.

An online instant loan can improve your financial position in the short term. Nevertheless, you should be interested in a long-term financing then it is probably better to think of a loan.

The loan is fixed in time and amount fixed. With a loan, you can determine the amount and the term itself. Oh, it’s clear that with your personal loan you can have a quick payoff compared to paying. Below you will find a search request that we will try to find for you private lenders with matching loan offers!

Chances for an instant loan

Chances for an instant loan

In principle, everyone has the same chances to receive an instant loan from private individuals. No matter from which group of people you should come. So that means no matter if you’re an apprentice, if you’re a retiree or if you want to have a self-employed loan.

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