The Hon Jim Chalmers MP
Treasurer
The Hon Daniel Mulino MP
Assistant Treasurer
Minister for Financial Services
The Hon Andrew Leigh MP
Assistant Minister for Productivity, Competition, Charities and Treasury
Credit and Debit Card Surcharges End Today
Thursday, 1 October 2026
Consumers will no longer pay around $1.6 billion in card surcharges when debit and credit surcharging ends today.
These changes are all about taking pressure off consumers and businesses and helping with the cost of living.
Australians will be able to use debit and credit cards without being penalised or surprised at the checkout thanks to these reforms.
The ban on credit and debit card surcharges is one part of broader reforms to make the payments system fairer, more efficient and more transparent.
These changes will help millions of small businesses reduce costs and get a better deal and save businesses $910 million each year.
This includes lowering the cap on domestic interchange fees from today, and phasing in new requirements on card companies and banks to be more transparent about the fees they charge for card payment services.
It means small businesses can shop around for card payment services and won’t have to wade through complex surcharging rules. Over time, the RBA’s reforms will lead to lower card payment costs, further pushing costs down for businesses and consumers.
In late 2024, the Albanese Labor Government announced that we were prepared to ban debit card surcharges to help with the cost of living, subject to further work by the Reserve Bank and safeguards to ensure both small businesses and consumers can benefit.
In response to this, the Reserve Bank developed these reforms to be implemented from today.
We’re delivering broader reform to the payments system.
• Expanding the Reserve Bank’s powers in the payments system to include digital wallets, buy now pay later and three-party schemes like American Express.
• Developing a new payments licensing framework that is more proportionate and supports competition and innovation.
• Supporting an orderly transition away from cheques.
• Developing a new strategic plan for the payment system to ensure it continues to meet the needs of Australians and respond to technological change.
Small businesses can find out more about the changes from the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) online at www.asbfeo.gov.au. ASBFEO is ready to help small businesses understand the changes.
The RBA and the Australian Competition and Consumer Commission (ACCC) have released guidance to help consumers and businesses understand the changes.
The RBA will also monitor progress of the reforms.
Ends