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What is an Account Funding Transaction (AFT)?

An Account Funding Transaction (AFT) is a specific type of transaction used to add money into an account.

  • Prepaid cards
  • Digital wallets
  • Brokerage accounts
  • New bank accounts

It typically involves moving money from a funding source (such as a debit card, credit card, or bank account) into the target account.

Unlike standard purchases (where money is exchanged for goods or services), AFTs are classified differently by payment networks like Visa and Mastercard. They are categorised as "funding" transactions rather than "buying" transactions. This change replaces the earlier classification of such transactions as standard purchases.

What Are the New AFT Rules?

Visa (Effective July 2025)

  • Visa will mandate that transactions funding accounts for cryptocurrency and forex activities must be processed as AFTs.
  • Implementation deadline was extended by VISA from the original January 2025 date.

MasterCard (Effective August 2025)

  • Mastercard is introducing similar requirements, mandating AFT classification for cryptocurrency and forex account funding transactions. (Mastercard Effective August 2025).

Key Use Cases Requiring AFT Classification

Visa and Mastercard now require AFT processing for the following verticals:

  • Prepaid Stored Value Products – MCC 6540
  • Money Remittance/Transfer Services – MCC 4829
  • Digital Wallet Financial Institutions – MCC 6012
  • Cryptocurrency Assets – MCC 6051
  • Security Brokers/Dealers Services – MCC 6211

What to Do if You're Affected by the New AFT Scheme Changes

1. Check with Your Acquirer or Payment Service Provider (PSP)

Ensure your acquirer or PSP can:

  • Support AFT processing under the new Visa/Mastercard rules.
  • Follow new scheme protocols
  • Capture and transmit all required data elements:
    • Sender name and account information
    • Receiver name and account information
    • Purpose of the funding transaction

2. Monitor Transactions

  • Regularly review transactions to ensure they are:
    • Processed correctly
    • Compliant with the new Visa and Mastercard AFT rules
  • Implement reporting and auditing tools to flag misclassified transactions early to avoid mislabelling and potential compliance violations.