A new law will go into effect in New York this weekend that will require businesses to notify customers about credit card surcharges that increase payments at the register.
Starting Sunday, businesses will be required to post the total cost of goods and services, including any additional charges, by credit card before customers check out. Business owners can display the total price, including credit card surcharges, or separate prices when paying by credit card and cash.
The new law also requires credit card companies to pass on the exact amount charged to customers who use credit cards.
“New Yorkers should never have to deal with hidden credit card fees. This legislation will ensure that individuals can trust that their purchases will not come with surprise additional charges,” said the bill, which was signed into law in December. Governor Kathy Hochul said: said in a statement last week..
“Transparency is critical to building trust between businesses and communities, so customers can budget accordingly.”
On the State Department website, explained in video Which signs businesses can display and which will soon be illegal. For example, business owners can no longer simply show the percentage added to credit card usage and ask customers to calculate it. Instead, the sign should display the all-in price.
The new rules do not apply to debit cards.
