MCC 6012: Financial Institutions (Merchandise and Services)
MCC 6012 is the merchant category code for financial institutions (merchandise and services). Visa, Mastercard, Discover, and American Express assign it to businesses such as banks, credit unions, and loan payments.
- Code
- 6012
- Category group
- Miscellaneous Stores
- Risk rating
- Elevated risk
Which businesses use MCC 6012?
Acquiring banks assign MCC 6012 to merchants whose primary line of business is financial institutions (merchandise and services). Common examples include:
- Banks
- Credit unions
- Loan payments
Is MCC 6012 considered high risk?
Acquirers review this MCC more closely because of card-not-present volume, refund rates, or chargeback history. Expect extra documentation and possible volume caps.
How does MCC 6012 affect processing fees?
MCC 6012 determines which interchange category Visa and Mastercard apply to each transaction. Codes in the miscellaneous stores range share interchange programs, so two merchants with the same card mix but different MCCs can pay different wholesale rates.
Frequently asked questions
What does MCC 6012 mean?
MCC 6012 is the merchant category code for Financial Institutions (Merchandise and Services). Card networks use it to classify transactions from businesses such as banks, credit unions, and loan payments.
Is MCC 6012 high risk?
MCC 6012 is generally rated elevated risk. Acquirers review this MCC more closely because of card-not-present volume, refund rates, or chargeback history. Expect extra documentation and possible volume caps.
Can a business change its MCC from 6012?
A business can request a different MCC through its acquiring bank. The acquirer reviews what the business actually sells and reassigns the code only if 6012 does not describe the primary line of business.