Terence has over 35 years' experience in the Financial Services environment, covering general insurance, investments and mortgages.
You may not be aware that from 13 January 2018, you will no longer be able to pass on to a client the cost charged to you by the card provider for accepting card payments.
This change has been put in place following the implementation of the EU Payment Services Directive.
More detail can be seen at - https://www.gov.uk/government/news/rip-off-card-charges-to-be-outlawed
You will need to review your Client TOBA or other disclosure documents to ensure that any reference to card charges are removed.
Should you have any questions, please contact the team at RWA.
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