New York Law Mandates Cash Acceptance for Retailers
New York State has enacted a significant law requiring retailers to accept cash payments from customers. This legislation, championed by Attorney General Letitia James, aims to ensure accessibility for all consumers regardless of their payment preferences.
Key Details of the Cash Acceptance Law
The new cash acceptance law will take effect on March 21. Here are the main points of the legislation:
- All food stores and retail businesses must accept cash payments.
- Businesses cannot enforce cashless payment methods, such as credit cards, as a requirement for purchases.
- It is illegal for stores to impose a higher price for customers paying with cash.
- Violators may face civil penalties, starting at $1,000 for the first offense and $1,500 for subsequent violations.
Attorney General’s Statement
Attorney General James emphasized that “New Yorkers have a right to service no matter how they choose to pay.” She added that businesses must not restrict access to essential items like food and clothing through cash refusal or discriminatory pricing. The Attorney General’s Office is committed to enforcing this law to protect consumers statewide.
Exceptions to the Cash Acceptance Requirement
Although the law promotes cash payments, certain exceptions exist:
- Stores are not required to accept cash bills larger than $20.
- Cash payments are not mandatory for orders placed by phone, mail, or online, unless completed in-store.
- If a store offers a device that converts cash into a prepaid card, accepting cash is not obligatory. However, no fees should be charged, and the prepaid card must not have a minimum loading amount exceeding $1.
Reporting Violations
Consumers can report any stores that violate the cash acceptance law through a dedicated link or by calling 1-800-771-7755. This measure enhances consumer protection and ensures that all customers have fair access to essential goods and services.
