Maestro Global Rules (PDF) - MasterCard

Special Issuer Programs
5.6 Prepaid Card Programs
5.6.3 Return of Unspent Value
Issuers must return any unspent funds in the prepaid Account to the owner of
that Account in compliance with applicable law or regulation. In instances
where applicable law or regulation does not provide time frames concerning
the return of unspent funds, Issuers must comply with the requirements set
forth in this Rule 5.6.3. Subject to applicable law or regulation, an Issuer has no
obligation to return unspent funds in the prepaid Account if the identity of the
owner of the unspent funds has not been provided to the Issuer.
5.6.3.1 Consumer Prepaid Card Programs
Issuers of Consumer Prepaid Card Programs 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.
5.6.3.2 Commercial Prepaid Card Programs
Issuers of Commercial Prepaid Card Programs 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 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.
5.6.3.3 Government Prepaid Card Programs
If the owner of the funds in the prepaid 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 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 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.
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5-8 9 November 2012 • Maestro Global Rules