MCC 6513 is used for transactions involving real estate agents, brokers, and property managers, covering services such as property sales, leasing, and management.
Interchange Fee
Interchange fees for transactions under MCC 6513 typically range between 1.5% and 3% depending on the card issuer and agreement terms with the merchant.
Cashback Rewards
Real estate transactions under MCC 6513 may have limited eligibility for cashback or rewards, often depending on the specific card program and terms set by the issuer.
Rules and Restrictions
There are no special rules or restrictions specifically tied to transactions under MCC 6513 beyond standard compliance requirements set by the payment network and issuer policies.
Tax Reporting
Real estate transactions under MCC 6513 may have tax implications for buyers depending on the jurisdiction. However, typical transactions may involve property taxes, and the IRS requires certain reporting for larger transactions.