MCC 6533 - Money transfer 
The Merchant Category Code (MCC) 6533 is specifically designated for "Money Transfer" services. This MCC is predominantly used by financial service providers that facilitate the transfer of money between individuals or entities. The primary purpose of this category is to enable businesses to easily identify and process transactions related to money transfer services efficiently. This MCC encompasses businesses like money remittance services, electronic funds transfer providers, and other similar operations.
Types of Services
- Money Remittance Services: These services allow individuals to send money domestically or internationally to another person or entity.
- Electronic Funds Transfers (EFT): These are services that transfer money directly from one bank account to another through electronic means.
- Online Payment Platforms: Digital platforms facilitating person-to-person money transfers and payments for goods or services.
- Mobile Payment Services: Companies that allow users to transfer funds through mobile phone applications.
Related MCCs
- MCC 4829: Wire Transfer/Remittance: Similar to MCC 6533, but specifically tailored for businesses that handle wire transfers and remittance services.
- MCC 6012: Financial Institutions - Merchandise and Services: Covers broader financial services provided by banks and financial institutions, not limited to money transfers.
- MCC 6011: Financial Institutions - Manual Cash Disbursements: For businesses or institutions that provide manual cash disbursement services like bulk or large-scale cash withdrawals.
FAQs
- What businesses typically use MCC 6533?
- Businesses that facilitate money transfers, such as remittance services, digital payment platforms, and mobile payment providers generally use this MCC. - Can retail stores use MCC 6533?
- Typically, retail stores do not use this MCC unless they have a service specifically dedicated to money transfers. - How does MCC 6533 benefit financial services?
- It allows financial services to categorize transactions accurately, streamline processing, and ensure compliance with regulations related to money transfers.
MCC Categories
Agricultural Services Airlines Business Services Car rent Cars and vehicles Clothing stores Contract services Entertainment services Government Services Hotels / Resorts Mail / Telephone Sales Membership оrganizations Miscellaneous Stores Not categorized Personal services Professional services Repair services Retail Outlet Services Service provider Transportation Services Utility Services Wholesale suppliers and manufacturers