Q: How should businesses notify customers about convenience fees? Businesses must clearly and conspicuously notify customers about convenience fees before the transaction is completed. This can be done through ample signage in-store, clear messaging during online checkout, or verbally over the phone.
How to file a Complaint Step 1 - Lodge a complaint with Regulated Entity i.e. Banks, NBFC, etc. Step 2 - File a Complaint with Reserve Bank of India Ombudsman (RBIO) Online: . By post: Centralized Receipt and Processing Centre (CRPC) Reserve Bank of India, 4th Floor, Sector 17, Chandigarh 160017.
Credit card processing fees encompass three types of fees (interchange, assessment and payment processing) that get distributed to three separate financial institutions (issuing bank for the card, credit card network and payment processor) involved in facilitating the card payment process.
These expenses fall under the category of “miscellaneous expenses”, where you'll be allowed to describe them as “credit card processing fees”.
Credit card fees are not deductible for individuals and are deductible for businesses. Businesses can deduct all credit card fees as well as finance charges. Businesses are eligible to deduct credit or debit card processing fees associated with paying taxes, but individuals are not.