MCC 6535 - Money transfer 
The Merchant Category Code (MCC) 6535 is designated for businesses that facilitate money transfer services. These businesses are primarily engaged in the transfer of funds from one party to another, both domestically and internationally. The scope of this MCC covers a range of financial services, where the core function involves moving money across various platforms or borderlines.
Types of Services
- Remittance Services: Companies that allow individuals to send money to family or friends, especially across borders.
- Online Money Transfer Platforms: Digital services facilitating fund transfers through apps or websites, such as peer-to-peer (P2P) payment platforms.
- Wire Transfers: Electronic transfer of funds through a network like banks or transfer agencies.
Related MCCs
- MCC 6012: Financial Institutions – Merchandise and Services: Covers financial services such as loans and deposits, often complementing money transfer services.
- MCC 4829: Money Orders – Wire Transfer: Focuses on the sale of money orders and wire transfers, which are alternative methods to standard money transfer services.
- MCC 6010: Financial Institutions – Manual Cash Disbursements: Pertains to financial institutions handling disbursements, complementing services under MCC 6535.
FAQs
- What businesses fall under MCC 6535?
- Money transfer businesses, including those involved in remittances, wire transfers, and online transferring services. - How is MCC 6535 different from MCC 4829?
- While both involve transferring money, MCC 6535 typically covers broader services, including digital transfers, whereas MCC 4829 is specific to money orders and wire transfers. - Are there any regulatory requirements for businesses under MCC 6535?
- Yes, businesses must comply with financial regulations such as anti-money laundering (AML) and customer identification protocols as stipulated by financial authorities.
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