As members are aware, the Reserve Bank of Australia (RBA) earlier this year concluded that it is in the public interest to remove surcharging for all designated card networks (eftpos, Mastercard and Visa) from 1 October 2026. These designated networks are subject to formal regulation by the RBA and other networks such as American Express and UnionPay, which aren’t part of formal RBA regulation have also chosen to remove surcharging. Further information about these changes can be found on the RBA’s website.
The strata sector is well prepared for the upcoming changes and in particular, the removal of the credit card payment option through DEFT. SCA (NSW) strongly encourages members to promote alternative payment methods to strata owners such as PAYID, BPAY, Direct Debit or through Australia Post. Further information can be found on the DEFT website.
For those Owners Corporations utilising Strata Max payments, the option remains to absorb the credit card fee or to remove the option to allow lot owners to pay by credit card where an Owners Corporation is not prepared to subsidise individual owners. SCA (NSW) also strongly encourages our members to communicate these options with their schemes and owners to ensure maximum transparency.
SCA (NSW) members will have received additional advice and a suggested resolution in a recent member email.
