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Say goodbye to excessive credit card surcharges at online checkout

Online shopping just got a little sweeter with news that companies can now only charge a small percentage fee for things like flights, concert tickets and hotel bookings.

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Seamus Byrne/CNET

The surcharge sting of online shopping is about to fade. From September 1, a ban on excessive credit card surcharges will mean companies can no longer be able to charge crazy card fees when you get to the checkout.

The ban, put in place by the ACCC, ditches flat fees charged by companies in favour of a percentage-based surcharge that will be capped. As a guide, the RBA says those percentages should be in the order of 0.5 percent for debit cards, 1 to 1.5 percent for credit cards and 2 to 3 percent for American Express.

Consumer group Choice is already doing the maths, saying the surcharge on a Qantas flight from Sydney to Melbourne will fall from a fixed AU$7 fee down to AU$2.11.

The new rules apply to large businesses from September 1, with restrictions on small businesses coming in on September 1, 2017.

While you might notice the change in stores, the big relief is likely to come online -- and we're already hanging out for price drops on things like flights, concert tickets and hotels.