What transactions are ineligible for the Nexo Card crypto cashback
In this article:
1. Overview
The Nexo Card offers crypto cashback rewards based on your Loyalty tier* for every purchase in Credit Mode.
* You must maintain a portfolio balance of at least $5,000 in value to access our Loyalty Program with its perks.
2. List of Merchant Category Codes (MCCs) ineligible for crypto cashback
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Merchant Category Code (MCC) 6011 – Automated Cash Disbursements
Identifies cash disbursement transactions occurring at automated teller machines (ATMs).
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Merchant Category Code (MCC) 6012 – Investment Platforms
Such merchandise and services may include checks and other financial products, promotional merchandise, loan fees, and financial counseling service fees.
Included are also repayment of debts to banks, savings and loans, thrift shops, and credit unions.
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Merchant Category Code (MCC) 6211 – Brokers/Dealers:
Such merchants are associated with financial institutions for the purchase of merchandise or services or the repayment of debts to banks, savings and loans, thrift shops, and credit unions.
For example:
The purchase of cheques, other financial products or promotional merchandise, deposits, the funding of an account, the purchase or reload of a stored-value card, the purchase of foreign currency, non-fiat currency (for example, cryptocurrency), money orders (a negotiable paper-based remittance – not a money transfer), traveler’s cheques and loan fees or financial counseling service fees.
This code may also be used for merchants involved in the repayment of a debt, loan, or credit card balance by a cardholder to the financial institution.
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Merchant Category Code (MCC) 6513 – Real Estate Agents and Managers – Rentals
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Merchant Category Code (MCC) 6532 – Customer Financial Institution
This code is primarily used to identify Payment Transactions. A Payment Transaction allows Mastercard cardholders to transfer funds to a Mastercard account.
This type of transaction does not reverse a previous Mastercard purchase and must be authorized by the issuer. Nevertheless, this MCC is also used for Brazilian domestic Coupon Booklet Payments (CARNE).
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Merchant Category Code (MCC) 7995 – Gambling Transactions
Examples include:
The placing of a wager, the purchase of a lottery ticket, spread betting, in-flight commerce gaming, or the purchase of chips or other value usable for gambling in conjunction with gambling activities provided by wagering or betting establishments such as casinos, race tracks, card parlors, airlines, and the like.
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Merchant Category Code (MCC) 8999 – Professional Services
Examples of such merchants include mortgage brokers, research firms, financial planners, graphic designers, guest speakers and lecturers, court stenographers, real estate appraisers, research firms, and auction houses.
Charging your PayPal or Curve account, for instance, also falls under this category.
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Merchant Category Code (MCC) 9399 – Government Services
Merchants that fall in this category include but are not limited to ones providing general support services to the government, such as personnel, auditing, procurement, and building management services.
Examples include civil rights and civil service commissions, general government accounting offices, general services offices, government supply agencies, fire and motor vehicle departments, and national, state, and city parks.
This MCC may also be used to identify U.S. state lottery ticket sales by merchants.
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Merchant Category Code (MCC) 9402 – Postal Services—Government Only
Government postal offices, including local post office branches. Services provided include accepting and processing packages and mail for delivery, selling postage stamps, and express mailing services.
3. Important notes
- Nexo Card crypto cashback is not available to clients residing in the United Kingdom.
- Some individual merchants are ineligible for Nexo Card crypto cashback.