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What are the merchant category codes for cryptocurrency businesses?

avatarMelle HerlaarDec 26, 2021 · 3 years ago3 answers

Can you provide a list of merchant category codes (MCC) that are commonly used for cryptocurrency businesses?

What are the merchant category codes for cryptocurrency businesses?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Sure! Here are some commonly used merchant category codes (MCC) for cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are often used by cryptocurrency exchanges, wallets, and other related businesses to categorize their transactions. It's important to note that the specific MCCs used may vary depending on the payment processor or financial institution. Hope this helps!
  • avatarDec 26, 2021 · 3 years ago
    Absolutely! Here are some merchant category codes (MCC) commonly associated with cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are used to classify transactions and help financial institutions and payment processors identify the nature of the business. I hope this information is helpful!
  • avatarDec 26, 2021 · 3 years ago
    Sure thing! Here are some commonly used merchant category codes (MCC) for cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are used by payment processors and financial institutions to categorize transactions related to cryptocurrency businesses. It's important for businesses in the cryptocurrency industry to use the appropriate MCCs to ensure accurate classification of their transactions. I hope this helps! If you have any more questions, feel free to ask.