Do surcharges influence our choice of payment instrument? Theory and evidence (notice n° 100079)
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|---|---|
| fixed length control field | 01950cam a2200193 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112004427.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Karoubi, Bruno |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Do surcharges influence our choice of payment instrument? Theory and evidence |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2022.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 25 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Cash withdrawals effected at an Automated Teller Machine (ATM) external to the network of the bank of the cardholder incur a surcharge fee. We investigate whether surcharges impact cash withdrawals and the use of bank card. We develop a toy theoretical model that takes into account both the heterogeneity of cash preference relative to card and the heterogeneity of the disutility of bypassing surcharges by moving to an ATM that belongs to the cardholder’s bank. We find that cardholders withdraw greater amounts more often at such ATMs when surcharges are implemented. Surcharges do not influence the amount of card transactions, unless the fee is sufficiently high relative to the inconvenience of cash holding. We also conduct an empirical analysis focusing on the French case. Most French banks implemented surcharge fees quasi-simultaneously, immediately after the enactement of a European Commission regulation (EC 2560/2001), making it easier to evaluate the impact of the fee. Exploiting a unique database originating from the French Automated Clearing House, we find a structural break in the number of withdrawals of non depositors and in the corresponding average amount. Based on our results, we recommend a policy of incentives towards the generalization of surcharges and towards an increase in their amount. JEL Classification: E4. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Payment Instruments |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Surcharges |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Demand for money |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Bankers, Markets & Investors | 169 | 2 | 2022-08-08 | p. 13-23 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-bankers-markets-et-investors-2022-2-page-13?lang=en">https://shs.cairn.info/revue-bankers-markets-et-investors-2022-2-page-13?lang=en</a> |
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