MCC 6300: Insurance Sales, Underwriting, and Premiums
MCC 6300 is the merchant category code for insurance sales, underwriting, and premiums. Visa, Mastercard, Discover, and American Express assign it to businesses such as insurance agencies, premium payments, and insurance carriers.
- Code
- 6300
- Category group
- Miscellaneous Stores
- Risk rating
- Standard risk
Which businesses use MCC 6300?
Acquiring banks assign MCC 6300 to merchants whose primary line of business is insurance sales, underwriting, and premiums. Common examples include:
- Insurance agencies
- Premium payments
- Insurance carriers
Is MCC 6300 considered high risk?
Most acquirers approve this MCC with standard underwriting, no rolling reserve, and access to the lowest interchange categories.
How does MCC 6300 affect processing fees?
MCC 6300 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 6300 mean?
MCC 6300 is the merchant category code for Insurance Sales, Underwriting, and Premiums. Card networks use it to classify transactions from businesses such as insurance agencies, premium payments, and insurance carriers.
Is MCC 6300 high risk?
MCC 6300 is generally rated standard risk. Most acquirers approve this MCC with standard underwriting, no rolling reserve, and access to the lowest interchange categories.
Can a business change its MCC from 6300?
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 6300 does not describe the primary line of business.