Maestro Global Rules (PDF) - MasterCard

6.13 Issuer Responsibilities to Cardholders
United States Region
6.13 Issuer Responsibilities to Cardholders
In addition to the Rules in Chapter 6, “Issuing,” Rule 6.13 in part 1 of this
rulebook, the following apply:
1. Card Applications and Card Solicitations. Each Issuer shall disclose, clearly
and conspicuously, in all Card applications and Card Solicitations any
amounts in respect to the MasterCard Issuer Cross-border Assessment and
the MasterCard Currency Conversion Assessment that the Issuer charges,
or will charge, to the Cardholder.
2. Existing Cardholder Agreements and Account Agreements. Each Issuer
shall disclose, clearly and conspicuously, in all existing Cardholder
agreements and Account agreements amounts in respect of the MasterCard
Issuer Cross-border Assessment and the MasterCard Currency Conversion
Assessment that the Issuer charges, or will charge, to the Cardholder.
3. New Cardholder Agreements and Account Agreements. Each Issuer shall
disclose, clearly and conspicuously, in all new Cardholder agreements
and Account agreements amounts in respect of the MasterCard Issuer
Cross-border Assessment and the MasterCard Currency Conversion
Assessment that the Issuer charges, or will charge, to the Cardholder.
4. Periodic Billing Statement. Each Issuer shall provide adequate disclosure
on each applicable periodic billing statement, such that the Cardholder can
readily determine from the billing statement any amounts that the Issuer
charges to the Cardholder in respect of the MasterCard Issuer Cross-border
Assessment and the MasterCard Currency Conversion Assessment during
that billing cycle, either in gross or on a per Transaction basis.
5. Currency Conversion Procedure. The Corporation further recommends
and encourages Customers to inform their Cardholders that part of
the Corporation currency conversion procedure includes use of either
a government-mandated exchange rate or a wholesale exchange rate,
selected by the Corporation, and that the government-mandated exchange
rate or wholesale exchange rate that the Corporation uses for a particular
Transaction is the rate the Corporation selects for the applicable currency
on the day the Transaction is processed, which may differ from that
applicable to the date the Transaction occurred or when it is posted to
the Cardholder’s Account.
NOTE
Refer to the Single Message System Specifications for additional information
about the MasterCard Currency Conversion Assessment. For information about
the MasterCard Cross-border Assessment, refer to the MasterCard Consolidated
Billing System—United States Region.
©1993–2012 MasterCard. Proprietary. All rights reserved.
Maestro Global Rules • 9 November 2012 20-7