New Credit Card Convenience Fees For Mighty Mac
November 11, 2024
Jessica Mathews / news@whmi.com
Due to increased costs for credit and debit card transaction fees, the Mackinac Bridge Authority (MBA) approved collecting a 2.3% convenience fee for tolls paid by credit cards to recoup some of those expenses.
Authority members cited the rising costs of transaction fees from credit card companies, which totaled $341,761.51 in 2024, as the reason for the new convenience fees.
The current average credit card fees for tolls paid is 3.07%; roughly 12-13% of all tolls are paid by credit card.
Authority Chairman Patrick "Shorty" Gleason said "Though this convenience fee will not cover all credit card processing costs, it will help defray those costs in a way that will allow us to continue directing most of our toll revenues to the never-ending job of maintaining and operating the Mackinac Bridge".
The convenience fee will add roughly $0.09 for the typical $4 toll for passenger vehicles. The new fee will take effect January 1st, 2025.
Customers who pay in the toll lanes can avoid the credit card fees by paying cash.
MacPass holders can make deposits with cash or electronic checks to avoid the fees.
To make it easier for customers to open and refill their MacPass commuter toll program accounts, the Authority also reduced the initial account minimum deposit from $80 to $40, and refill deposit minimums from $50 to $20. Those changes are expected to take effect December 1st or as soon as possible.
Noting the relatively higher credit card processing fees for American Express, currently at 4.79%, the Authority also approved discontinuing acceptance of those credit cards for payment beginning January 1st, 2025.