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Mon 25 Jul 2016 03:05 PM

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Abu Dhabi firms warned against charging illegal credit card fees

Steep fines of up to AED100,000 will be imposed on anyone breaking the law, say officials

Abu Dhabi firms warned against charging illegal credit card fees
4. CREDIT CARDS: Credit card data from the Middle East is considered to be of less value than counterparts in other countries. Indeed, European cards are considered the most valuable with, European cards tending to have higher credit limits. On the other hand, many Euro cards are deemed highly secure because they use a chip-and-PIN with signature system.

Legal action will be taken against any organisation in Abu Dhabi that collects extra fees when customers opt to pay with a credit card, the government has stated.

Abu Dhabi Department of Economic Development (ADDED) said on Monday it had issued a circular to trade licence holders in Abu Dhabi warning them against such a move.

Consumers used to pay between two to five dirhams whenever they chose to pay through their credit cards.

However, a resolution by the Supreme Committee for Consumer Protection (SCCP) recently served to ban any collection of extra fees from consumers when they pay by their credit cards for any goods or services in either the private or public sectors.

Mohammed Munif Al Mansouri, executive director of ADDED’s Abu Dhabi Business Centre, said fines of up to AED100,000 ($27,224 ) would be imposed on any business or government entity that breaches the rules, under Law No. 2 2009. 

Al Mansouri also urged consumers to call toll free number 800555 if any business seeks to impose fees on them for credit card use.

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