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Credit Card News

Senator Seeks to Limit Credit Card Fees

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A New Brunswick senator has tabled a bill proposing new legislation to limit Canadian credit card fees. Liberal Senator Pierrette Ringuette, of Edmundston, says Visa and MasterCard charge Canadian merchants some of the highest fees in the world on credit card transactions. She has been pushing for changes for years and tabled Bill S-215 on Tuesday. Senator Pierrette Ringuette is expected to present her ... Read More »

RBC Axes Expiry Date on Pre-paid Cards

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Canada’s largest bank has dropped expiry dates and most of the fees on its pre-paid Visa cards. The move by RBC Royal Bank comes four weeks after Finance Minister Jim Flaherty announced plans to introduce new rules for prepaid cards. RBC says it will continue to charge a one-time flat fee of $3.95 to issue the prepaid card but all ... Read More »