Cut in Octopus fee

PUBLISHED : Saturday, 29 September, 2007, 12:00am
UPDATED : Saturday, 29 September, 2007, 12:00am
 

Fees for Octopus card holders requesting a printout of recent transactions will be halved from Monday.

In a notice published in two newspapers yesterday, Octopus Cards Limited said the fee to print the most recent 40 transactions would be reduced from HK$200 to HK$100.

Octopus revealed in July that 15,270 faulty EPS (electronic payment system) add-value transactions between January 2000 and December 2006 had led to HK$3.7 million being wrongfully deducted from the bank accounts of Octopus card users.

A spokeswoman for Octopus said they had taken into account criticisms made this year by the Consumer Council, which said that the high charge for printouts deterred customers from finding out whether they had fallen victim to the faulty transactions.

For printouts of other than the most recent 40, HK$100 will be charged for every four consecutive days of transactions.

Monetary Authority chief executive Joseph Yam Chi-kwong said last month that it was time to consider separating the management and the issuing of Octopus smart cards.

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