Having recently settled with U.S. merchants over tariffs, Visa (V) is in hot water in the EU,...


Having recently settled with U.S. merchants over tariffs, Visa (V) is in hot water in the EU, where competition regulators charge the firm over its cross-border credit-card fees and domestic charges in eight countries. The EU accuses Visa of hurting bank competition, inflating costs for merchants, and ultimately increasing consumer prices. (PR)

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  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    a new international fee just showed up on my account.Supposedly 3%..but its more than that...on any international transaction....to be a banker..nice job if you can get it..Legalized theft...
    31 Jul 2012, 07:14 AM Reply Like
  • Canuk100
    , contributor
    Comments (75) | Send Message
     
    From the Visa web site... It would appear these fees are being charged by the banks not Visa...

     

    What is Visa’s fee structure for international transactions?

     

    Visa Inc. does not assess any fees to cardholders or merchants. Visa applies International Service Assessment (ISA) fees ranging from 0.15 to 1 percent to its financial institution partners for their use of the global payment system.

     

    The fees are paid by financial institutions on transactions that require the use of our global infrastructure. Since Visa does not assess any fees to cardholders or merchants, we have no involvement in financial institution pricing to cardholders or merchants. If financial institutions or merchants decide to assess a foreign transaction fee to their customers, they are required to provide details to their cardholders and consumers.

     

    As part of Visa’s international functionality, Visa has offered international processing services to its financial institutions for more than twenty years. Over the years, Visa has become a symbol of international acceptance, and Visa views its global support services as paramount to providing its cardholders with superior value and benefits.
    31 Jul 2012, 10:24 AM Reply Like
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