THE BILL ITSELF
CS/SB 838
Electronic Payments of Retail Installment Contracts
CS for SB 838 First Engrossed 2026838e1
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A bill to be entitled
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An act relating to electronic payments of retail
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installment contracts; creating s. 520.105, F.S.;
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defining the terms “ACH payment” and “electronic
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payment”; authorizing holders of retail installment
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contracts and their agents to collect fees for
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processing electronic payments made by motor vehicle
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retail buyers under certain circumstances; providing
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an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 520.105, Florida Statutes, is created to
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read:
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520.105 Convenience fee for processing electronic
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payments.—
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(1) As used in this section, the term:
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(a) “ACH payment” means a payment made by an automated
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clearing house electronic transfer from a retail buyer’s bank
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account.
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(b) “Electronic payment” means a payment made by credit
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card, debit card, electronic funds transfer, electronic check,
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or other electronic method.
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(2) A holder of a retail installment contract, or its
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agent, may collect a fee for processing a retail buyer’s
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electronic payment under the retail installment contract,
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provided that all of the following conditions are met:
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(a) The fee is reasonably related to the actual expense
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incurred by the holder or its agent in processing the electronic
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payment.
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(b) The holder or its agent does all of the following:
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1. Allows the retail buyer to make a payment by a method
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other than a method that incurs a fee.
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2. Maintains an option for a retail buyer to make an ACH
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payment without collecting a fee.
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3. Does not establish electronic payment as the expected
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form of payment.
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4. Before the retail buyer agrees to make a payment by a
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method that incurs a fee, discloses all of the following:
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a. The amount of the fee to be charged under this section.
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b. The retail buyer’s option to make a payment by an
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alternative method that does not incur a fee, including by cash,
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check, money order, or ACH payment.
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Section 2. This act shall take effect July 1, 2026.