New Yorkers are accustomed to doing the math before checkout to decide whether to pay with cash, credit, or debit. Many times the final total comes out higher than expected thanks to sales tax and annoying credit card surcharge fees. New York Governor Kathy Hochul announced a new consumer protection law that will limit credit card surcharges and require businesses to disclose fees before purchase. The law goes into effect Saturday, Feb.
The law does not apply to debit cards. It is completely legal for a business to impose a minimum charge for customers who want to use a credit card for payment. And often, credit card minimums help businesses offset fees associated with credit card processing.However, many times these fees aren't regulated or clear to the customer. There are still questions around how the laws will be enforced. Hochul says businesses that do not comply with the law will be reported.