Yes. Credit card surcharging is a simple idea that is complex in its implementation due to a myriad of federal, state, local, and card issuer regulations.
Merchants must comply with specific requirements when applying a credit card surcharge. Some of these requirements include;
- Credit card companies require merchants to display a notice of the surcharge at the in-store and online points of sale.
- The maximum credit surcharge is 4% of the transaction total, or the actual cost to process cards, whichever is lower.
- Credit card companies require written notification of “intent to surcharge” 30 days prior to imposing any surcharges.
- Credit card surcharge fees must appear on every receipt in an individual line item.
- If a merchant provides a refund for an item and a transaction fee was applied to the purchase, the full transaction fee must also be refunded.
Those are just a few of the regulations surrounding surcharging. Each state and locality have their own specific regulations, so consult your state or local law book to learn more.