Transaction Fees on Credit Cards Removed in Abu Dhabi
Transaction Fees on Credit Cards Removed in Abu Dhabi
- The Economic Development Department in Abu Dhabi has ordered all commercial facilities in Abu Dhabi not to collect any additional fees on credit card transactions
- The decision was issued by the higher committee for consumer protection of Abu Dhabi Economic Development Department
- The department deemed this practice as illegal, and will charge a fine of up to AED 8000 for those who fail to comply
- First-time offenders will get a warning, fine of AED 4000 for those who repeat it for the second time, AED 6000 for third time, and AED 8000 for fourth-time offenders
- The Abu Dhabi Department of Economic Development (DED) handles economic agenda of the emirate, to achieve a sustainable, balanced and diversified knowledge-based economy
- Up until the ban on credit card fees, banks in Abu Dhabi permitted a fee of up to 2% on commercial transactions
- The ban was first implemented in January 2016, when credit card transaction fees were prohibited in education, healthcare and aviation sectors
- In July 2016, merchant traders were warned against charging transaction fees among businesses in Abu Dhabi, which could warrant a penalty of up to AED 100,000
- Customers are encouraged to report any violations, by calling DED’s toll free number, 800555
