MCC 6011 pertains to transactions involving automated cash disbursements, typically linked with ATMs, bank cash withdrawals, and similar automated services for dispensing funds.
High Risk; Restricted
This MCC is considered high-risk due to its association with automated cash disbursements, which can be susceptible to fraud and illegal activities. As a result, transactions under this MCC may be subject to additional scrutiny and restrictions by card issuers and payment processors. Merchants operating under this MCC may need to comply with specific registration and operational requirements set by the card networks.
Interchange Fee
Interchange fees for MCC 6011 transactions generally range between 1% and 3%, depending on the transaction type, card brand, and issuing bank policies. Fees can be higher for certain high-risk scenarios.
Cashback Rewards
Typically, cashback rewards are not applicable for transactions under MCC 6011 due to its association with cash withdrawals, which are often excluded from rewards programs.
Rules and Restrictions
There are no special rules or restrictions for processing transactions under MCC 6011, aside from general banking and regulatory compliance standards.
Tax Reporting
Cash disbursement transactions under MCC 6011 may have specific tax implications. It is recommended for buyers to consult with tax professionals for accurate IRS reporting requirements.