Increasing numbers of small businesses are choosing to pass on credit card fees to their customers in the form of a surcharge.
Petrol stations were among some of the more high-profile businesses loading an extra percentage on to payments but Plus Chartered Accountants associate Jeremy Tauri said a lot more businesses were considering the move to transfer things such as merchant fees to their customers.
The credit card fee has been possible since 2010, when the Commerce Commission essentially forced banks and credit card companies to stop setting prices they charged retailers in the form of interchange fees.
Most surcharges range from 1 per cent to 3 per cent.
EMA chief executive Kim Campbell agreed the practice was becoming more prevalent. "When you're the first guy in the block to do it, customers might go elsewhere. But when everyone is doing it, people think 'oh well, I'll just pay it'."
He said credit cards were the most profitable product provided by banks. "I'm told the fees used to be about 1.5 per cent but now can be up to 5.5 per cent. Credit card companies are getting more margin than the guy doing the retailing."
Campbell said it was just another cost for consumers, without any value being added.
There was dissatisfaction from some businesses about the amount they were paying in bank fees, which were usually significantly higher for business accounts than they were for personal accounts.
Tauri said he had clients paying between $40 and $400 a month in business banking fees, depending on what level of service was required. Passing on merchant fees was one way of levelling some of that.
"Different businesses spend different amounts depending on the type of business they are and their payment methods."
Tauri said the most important thing was to build a good relationship with your bank.
"What we have to remember is that when we call our business bank manager we don't get charged an additional fee for their input and advice, or for a meeting with them. A solid relationship with your bank is important and can be worth more than the fees you pay."
BNZ head of partners (Northern) Alan Young said it was unfair to compare personal and business banking fees.
People who were unhappy about what they were being charged could negotiate with their banks. But businesspeople's relationship with their banker should be similar to that with any trusted adviser.
"Look for your banker to support you to manage all the costs of your business, including the bank fees."
He said people could also shop around for a better deal and make sure they had the correct facilities for their needs.