Exorbitant charges for credit card statements for Credit Card Levy refund

21/06/2017 08:20

In light of the recent decision made by the by the Fiji Revenue and Customs Authority (FRCA) to refund consumers who were incorrectly charged the 2% Credit Card Levy (CCL) have to spend more money to obtain credit card statements.

The Council had sincerely hoped and requested the banks to refrain from charging its customers to obtain statements. Sadly, this has not been the case and as a result consumers have to spend more money to get redress which are not their fault.   

Reimbursement of CCL has now become another money-making opportunity for banks. ANZ and BSP banks are charging $10 for the credit card statement while Westpac is charging $5. If credit-card holders from ANZ/BSP wants to check statements back dated to 2012 to mid-2013, they will have to fork out $180 to obtain statements for 18 months. Now if a consumer’s refund is $100, then seeking redress does not seem to be the best option.

Why can’t the banks provide customer information to FRCA, after all they collected and remitted CCL to FRCA? The banks just have to refer to their electronic records of their customers and provide FIRCA with the amount of levies paid by each customer.  

The Council wishes to re-iterate that consumers should not be further burdened with this cost because they were not aware of the incorrect credit card levy.