MCC merchant code for Goldmoney in 2018?

GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
@Goldmatters, @Roy Sebag et al,
What is Goldmoney's current MCC code for 2018?
It appears that card issuers (e.g. Visa, MC, etc) and/or the IRS are changing classifications behind the scenes for some popular companies that are "selling" digital assets. Unfortunately, consumers are kind of in the dark... that is until huge fees show up on credit card and debit card statements for "Quasi-CASH" and "International Transaction Fee".

I have experienced both of these in 2018; but this never happened in 2017 or prior.

Can you guys at Goldmoney please articulate what your MCC is for your different accounts (i.e. Goldmoney Personal and the Holding)?

It appears that "Quasi-CASH" means "cash advance". Not sure if the "Intl txn fee" makes sense...

Answers

  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    It looks like old personal accounts using Visa at checkout from US still process as "Precious Stones and Metals, Watches, and Jewelry". source - Chase statement as of Feb. 11. Waiting on MasterCard statement...
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