NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employers’ Confederation is warning merchants against imposing credit card convenience fees and minimum purchase requirements, citing a surge in complaints and potential breaches of established banking rules.
In a statement addressing what it described as a growing concern impacting both consumers and the integrity of commercial practices, the BCCEC said: “The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) wishes to address a growing concern affecting consumers and the integrity of commercial practices across the country: the imposition of convenience fees for credit card usage and the enforcement of minimum purchase amounts by some merchants. Over the past few days, the BCCEC has seen a significant increase of complaints from consumers and businesses on this practice, which we vehemently warn against.”
The Chamber pointed out that such practices run counter to the policies established by the Bahamas Clearing Banks Association, noting: “These practices are inconsistent with the established policies of the Bahamas Clearing Banks Association (BCBA), which prohibit merchants from charging additional fees to customers for the use of credit cards, as well as setting minimum transaction thresholds for card payments.”
While acknowledging the cost pressures faced by businesses, the BCCEC maintained that these should not be passed directly to consumers in violation of agreed rules. “The Chamber recognizes the challenges faced by businesses, including processing fees associated with electronic payments. However, these costs are part of the agreed terms between merchants and their financial institutions and should not be transferred directly to consumers in a manner that violates established guidelines,” the statement said.
It further stressed the importance of transparency and fairness in pricing, warning of broader consequences if such practices persist. “The BCCEC emphasizes that maintaining transparent and fair pricing practices is essential to fostering trust between businesses and consumers. Unauthorized surcharges and restrictions not only undermine consumer confidence but also place compliant businesses at a competitive disadvantage. We therefore urge all merchants to review their payment policies and ensure full compliance with the rules set forth by the Bahamas Clearing Banks Association.”
The Chamber also called on consumers to play a role in addressing the issue by reporting violations. “At the same time, the BCCEC encourages members of the public to remain vigilant. Consumers who encounter businesses charging additional fees for credit card use or enforcing minimum spend requirements are advised to report these incidents to the Consumer Protection Commission and the Bahamas Clearing Banks Association for immediate action. Reports can be made by contacting the Commission directly, providing details such as the name and location of the business, the nature of the charge, and, where possible, supporting documentation such as receipts.”
Reaffirming its broader role, the BCCEC added: “The BCCEC remains committed to the advocacy of MSMEs but also promoting fair and ethical business practices throughout The Bahamas and will continue to work collaboratively with the business community, regulatory authorities and industry stakeholders to ensure a balanced and transparent marketplace.”
