Why seeing MKT on your holiday receipt could end up costing you hundreds
WHEN on holiday, it seems easy to splash the cash when out all day and night.
But some travellers have discovered a ‘code’ on receipts when on holiday.
Often on restaurant receipts, the code ‘MKT’ appears.
According to Dojo, a UK-based card payment provider: “When MKT (or MP) is printed on a restaurant menu or receipt, it means ‘market price’.
“This indicates that the price of the item is not fixed and will fluctuate depending on the current market rate.
“Listing items on menus as ‘MKT’ allows restaurants to adjust their pricing in line with their cost, without reprinting menus.”
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In a clip shared on TikTok, user @aribella_menold gained more than 4.1 million view on a video where she shows a receipt totalling $159.14 (£118.26) between three diners.
On the screen it states: “POV: You didn’t know what ‘mkt’ meant on the steak menu and now you’re paying for it”.
One user commented on the video: “Honestly, shame on your server for not informing you of the price when it’s clearly not listed.”
Another said: “I have never been anywhere where they told you the cost upfront unless you asked…. It’s totally the customer’s fault for not asking when there is NO PRICE LISTED.”
Experts at Dojo say: “In these situations, transparency from both sides is key.
“It’s likely the server assumed the customer was familiar with the pricing or would ask if unsure.
“To avoid confusion, diners should feel comfortable asking for clarification on any ‘MKT’-priced items.
“Equally, it’s good practice for servers to offer a prompt, such as: ‘Just to note, I can provide today’s price for any items listed as MKT upon request.”
Items that are most likely to have MKT pricing include seafood, due to some fish being more available during different seasons.
You can also get it with prime meat cuts, like steak, due to supply, demand and seasonal availability.
And you might not have guessed it but even fruit and veg can be impacted too, especially ones like berries and mushrooms, again due to seasonal supply.
Some ingredients will also be included, especially if they require importation such as caviar or truffles, as prices for these items often fluctuate.