MasterCard Rules (PDF)

Special Issuer Programs
6.6 Prepaid Card Programs
6.6.3.2 Commercial Prepaid Card Programs
The Issuer of a Commercial Prepaid Card Program must provide the commercial
entity or individual or other third party designated by the commercial entity or
consumer with a minimum of thirty calendar days, or as otherwise approved
by the Corporation, to spend the funds in the prepaid Card account, after
which time the funds may revert to the commercial entity or, as otherwise
agreed between the commercial entity and the Issuer or its agents (if any), to
the Issuer or its agents.
6.6.3.3 Government Prepaid Card Programs
If the owner of the funds in the prepaid Card account is a government entity,
then the Issuer of the Government Prepaid Card Program must provide the
government entity with a minimum of thirty calendar days, or as otherwise
approved by the Corporation, to spend the funds in the prepaid Card account,
after which time the funds may revert to the government entity or, as otherwise
agreed between the government entity and the Issuer or it agents (if any), to
the Issuer or its agents.
If the owner of the funds in the prepaid Card account is a consumer, then the
Issuer of the Government Prepaid Card Program must provide the consumer
with a minimum of twelve months from the date of the last value load or thirty
calendar days after the expiration date, whichever comes later, to request the
return of unspent funds, less any applicable fees imposed by the Issuer or any
other lawful offsets. Prominent disclosure must be made to the consumer as to
how and when to request the refund of unspent funds and as to any fees that
apply to the Prepaid Card Program.
Once the consumer submits a refund request, the consumer must receive a
refund of unspent funds within thirty calendar days of the date on which the
refund request was received by the Issuer.
6.6.4 Value Loading
Subject to the restrictions set forth below, the maximum load value and load
parameters associated with a prepaid Card account are established by the Issuer
of the Prepaid Card Program and are subject to review and approval by the
Corporation.
For Consumer or Commercial Prepaid Card Programs, the Corporation permits
a maximum load value of USD 5000 or the local currency equivalent per day.
If an Issuer needs to increase the above-referenced maximum daily amount
or otherwise structure the loading of funds into the prepaid Card account,
the Corporation will evaluate the proposed Prepaid Card Program on a
case-by-case basis. However, funds deposited into the prepaid Card account
via Automatic Clearing House (“ACH”), Bankers’ Automated Clearing Services
(“BACS”), Clearing House Automated Payment System (“CHAPS”), or any other
electronically transferred payroll payments may exceed the above-referenced
maximum daily amount.
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6-10 12 December 2012 • MasterCard Rules