FL S0550

Expands the definition of "payment instrument" to include checks, drafts, orders of payment, debit card orders, and electronic funds transfers for purposes of collection actions.

Allows payees to recover bank fees and a service charge ($25-$40 depending on face value, or 5% whichever is greater) without filing a civil action when payment is refused or stopped with intent to defraud.

In civil collection actions, makers or drawers who fail to pay within 30 days of written demand are liable for triple damages (minimum $50), court costs, reasonable attorney fees, and bank fees in addition to the original amount.

Requires written demand for payment be delivered by certified mail, registered mail, or first-class mail with proof of service before civil action can be brought, with a 30-day payment period specified.

Effective July 1, 2013.