Rent-tech platforms sidestepping credit card surcharge ban with new fees and paid ‘memberships’

Key points

• Online rent platforms are charging tenants new fees or paid memberships to cover card processing costs since the Reserve Bank's surcharge ban took effect on 1 October. OurProperty stopped accepting direct card payments across Australia and now routes them through Pay4it, which charges its own 1.95% service fee.
• In Victoria, OurProperty will introduce memberships on Tuesday that waive the fee for tenants who pay for a platinum membership. Tenants who challenged fees in a Melbourne build-to-rent property had a charge removed.
• NSW Fair Trading urged renters concerned about memberships to get in touch.