FL H0959

Authorizes holders of motor vehicle retail installment contracts (or their agents) to charge convenience fees for processing electronic payments including credit cards, debit cards, and electronic funds transfers

Caps the fee at the lesser of $10 or 3% of the payment amount, and requires the fee to be reasonably related to actual processing expenses

Requires holders to maintain a fee-free ACH payment option and allow at least one alternative payment method (cash, check, or money order) without a fee

Mandates disclosure of the fee amount and fee-free payment alternatives before the buyer agrees to pay by a method that incurs a fee

Takes effect July 1, 2026