MCC 6611 - Money transfer 
The Merchant Category Code (MCC) 6611 is designated for businesses involved in money transfer services. This MCC is primarily used by establishments facilitating the transfer of funds from one individual or entity to another, both domestically and internationally. The goal is to provide a fast, secure, and reliable means of moving money across various locations or between different parties. The nature of these transactions makes them essential for individuals and businesses, as they enable financial exchanges vital to commerce and personal finance.
Types of Services
- International Money Transfers: Services that enable the transfer of funds across different countries, typically using networks that handle currency exchanges.
- Domestic Money Transfers: Transfers of money within national borders, often facilitated through bank transfers, mobile payments, or money transfer kiosks.
- Online Money Transfers: Services allowing users to send money using the internet, leveraging platforms that offer secure and instantaneous transactions.
- Remittance Services: Specialized services targeting individuals sending money back to family or friends in their home countries.
Related MCCs
- MCC 4829: Money Orders—Wire Transfer Companies: Covers businesses dealing with the purchase and transfer of money orders.
- MCC 6010: Financial Institutions—Manual Cash Disbursements: Focuses on financial institutions involved in manual cash disbursement services.
- MCC 6011: Financial Institutions—Automated Cash Disbursements: Specifically applies to cash disbursements through automated means such as ATMs.
FAQs
- What is MCC 6611 used for?
- MCC 6611 is used to categorize businesses that provide money transfer services, including both domestic and international transactions. - Are all online payment services categorized under MCC 6611?
- Not all online payment services are under MCC 6611. Only those specifically focused on money transfer services, like remittances, might fall under this category. - Can financial institutions use MCC 6611 for transactions?
- Typically, financial institutions might use different MCCs, such as 6010 or 6011, depending on the type of transactions they facilitate.
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