Commission crisis in gold purchases with credit cards: Tradespeople and customers at odds

Citizens who want to buy gold using credit cards are facing commission fees from banks ranging between 3 and 4 percent. This situation has caused serious tension between jewelers and customers.

According to a report by Star, while jewelers argue that the commission fee should be passed on to the customer, buyers do not accept this additional fee and object to it.

According to current prices, the price of a quarter gold coin is set at 7,250 liras, a half gold coin at 14,500 liras, and a full gold coin at 29,000 liras. However, these prices increase for purchases made with credit cards. For example, the price of a quarter gold coin with a card rises to approximately 7,500 liras.

While these additional fees do not apply to cash purchases of gold, the amount paid by customers increases in transactions made with credit cards due to bank commissions.

TESK President Bendevi Palandöken drew attention to the grievances experienced by tradespeople, stating, "The Banks Association and the relevant banks must reach a consensus on this issue. If ceiling and floor rates are determined, the grievances of the citizens will be eliminated." Palandöken emphasized that bank commissions are not covered by the tradespeople and that it is essential for a joint decision to be made between the parties to resolve the problem.

News Source: 12punto