MCC 8661 refers to religious organizations, including churches, synagogues, mosques, and other places of worship or faith-based institutions.
Interchange Fee
Transactions for MCC 8661 often have reduced interchange rates due to the non-profit nature of religious organizations. Typical fees range from 1% to 2.5% based on agreements with card issuers and networks.
Cashback Rewards
Cashback rewards are generally not provided for donations or contributions to religious organizations under MCC 8661. Standard rewards programs may apply, depending on the terms set by the card issuer.
Rules and Restrictions
There are no special rules or restrictions that payment processors apply to transactions classified under MCC 8661.
Tax Reporting
Contributions to religious organizations under MCC 8661 may be tax-deductible based on IRS guidelines and applicable tax laws. Donors should consult a tax professional for specific information on tax deductions for donations.