CITY OF ROCHESTER, NEW YORK — This is a valid inquiry about whether or not companies can impose additional fees if you choose to pay with a credit card rather than cash.
Pay close attention to the final price the next time you use your credit card to make a purchase. Some stores may give you a different total if you pay with a credit card rather than cash. This kind of price differential is commonplace, and it is legal in this country, with one important proviso.
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Joe has a question about adding a fee for using a credit card to make a purchase, and he wants to know if this is allowed in the state of New York.
I had always heard that businesses could not legally charge extra for accepting cash, but that offering a discount for paying in advance was perfectly fine.
Companies in New York State can legally charge you more if you pay with a credit card, but they must be transparent about it and give you the exact amount.
It is illegal for a business to charge you more for using a credit card than the cash price or to claim that the credit card price is the same as the cash price plus a percentage. to a certain extent, for specific companies. For this reason, it may be necessary to list two prices, one for cash and one for credit.
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According to the website for the New York State Senate, “per the court, customers must not be expected to do the math to figure out the total price that they will be paying.”
To clarify things even further, Senator Jeremy Cooney has introduced legislation in the state senate that would require “sellers to clearly post the credit card price inclusive of any surcharge at the location where a sale occurs.”
According to the revised policy, the final purchase price, which includes any credit card processing fees, cannot exceed the item’s listed price.
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Providing a cash discount is legal for businesses to promote. However, vendors can’t trick customers by advertising only the cash price.