Settlement Manual: 21 July 2020

Settlement Manual
21 July 2020
JM
Summary of Changes, 21 July 2020

The following are changes with the most recent publication of this document.
Description of Change Where to Look

Minor editorial, grammar, typographic fixes, or Throughout
formatting changes.
Chapter 1
Update flow Settlement Operational Flow
Update paragraph five of this section. Minimum Threshold for Funds Transfer
Delete paragraph between “WHEN the Standard Settlement (Three Party)
customer...” table and NOTE.
Delete paragraph after “WHEN the customer...” Consolidated Settlement (Three Party)
table.
Delete paragraph after “WHEN the customer...” Pay Thru Settlement (Three Party)
table.
Delete paragraph after “WHEN the customer...” Pay Thru Settlement (Four Party)
table.
Chapter 2
Update various content information within these Australian Dollar—AP00000002
sections, for example, contact information. Hong Kong Dollar—AP00000001
Japanese Yen—AP00000005
Malaysian Ringitt—AP00000004
Singapore Dollar—AP00000003
Delete topic “Chile Peso Regional Service—

LA00015202”
Chapter 3
Update various content information within this Costa Rican Colon—LA00018801
section, for example, contact information,
settlement times.
Update various content information within this Nigerian Naira—ME00056601
section, for example, required documents.
Update various content information within this Philippine Peso—AP00060801
section, for example, Special Rules for Settlement.
Update short description. Qatari Riyal-ME00063401
©1999-–2020 Mastercard. Proprietary. All rights reserved.

Settlement Manual • 21 July 2020 2
Description of Change Where to Look

Update various content information within this Saudi Riyal—ME00068201
section, for example, contact information.
Change title from ‘United States Dollar- Uruguayan United States Dollar—LA00084011
LA00084011’ to this...
Update contact information Venezuelan Bolivar Fuerta (Debit)—LA00093701
Venezuelan Bolivar Fuerta (Credit)—LA00093702
Appendix
Add new Appendix B Final Settlement

Contents
Contents
Summary of Changes, 21 July 2020....................................................................2
Chapter 1: Settlement Concepts........................................................................ 10

Settlement Definition....................................................................................................... 12
Participation in Mastercard Settlement.........................................................................12
Best Practices for Settlement........................................................................................14
Settlement Finality and Discharge................................................................................ 15
Net Settlement Information Form..................................................................................... 16
Mastercard Transaction Processing Systems...................................................................... 17
Settlement Operational Flow............................................................................................ 18
Funds Settlement............................................................................................................. 19
Supported Payment Process Flows.................................................................................... 19
Standard Settlement-Two Party.................................................................................... 20
NSIF Instructions for Standard Settlement (Two Party).............................................. 21
Standard Settlement (Three Party)................................................................................23
NSIF Instructions for Standard Settlement (Three Party)............................................24
Consolidated Settlement (Two Party)............................................................................26
NSIF Instructions for Consolidated Settlement (Two Party)....................................... 27
Consolidated Settlement (Three Party)......................................................................... 29
NSIF Instructions for Consolidated Settlement (Three Party)..................................... 29
Pay Thru Settlement (Three Party)................................................................................ 31
NSIF Instructions for Pay Thru Settlement (Three Party)............................................ 32
Pay Thru Settlement (Four Party).................................................................................. 34
NSIF Instructions for Pay Thru Settlement (Four Party).............................................. 35
International Bank Account Number............................................................................ 38
Settlement Services.......................................................................................................... 38
Settlement Service Continuity Procedures.................................................................... 39
Settlement Service Selection Criteria............................................................................ 40
Settlement Service Selection Criteria Example..........................................................41
Settlement Service Selection Process Example..........................................................42
Regional Settlement Service.........................................................................................44
Direct Request Payment Processing with Mastercard Settlement Agents.................. 46
Minimum Threshold for Funds Transfer................................................................... 48
Regional Settlement Holidays.................................................................................. 49
Intracurrency Settlement Service.................................................................................. 51
Transaction Processing Systems........................................................................................ 54
Private Label Settlement Services...................................................................................... 56
Failure of Customer to Settle............................................................................................ 56
Assessments................................................................................................................ 57

Contents
Compensation.............................................................................................................58
Reimbursement of the Mastercard Settlement Agent and Mastercard Arising from
Customer Failure.............................................................................................................. 59
Additional Administrative Fees Arising from Customer Failure...........................................59
Disputes and Claims Procedures....................................................................................... 60
Bilateral Agreements........................................................................................................ 60
Settlement Fees................................................................................................................60
Settlement Liability...........................................................................................................61
Adjustment of Settlement Positions – Loss Allocation Among Customers......................... 61
Chapter 2: Regional Settlement Services for All Licensed

Customers......................................................................................................................63
Australian Dollar—AP00000002.......................................................................................65
Australian Dollar Processed Through the Single Message System—AP00000008.............. 66
Australian Dollar—EU00000023.......................................................................................67
Brazilian Real—LA000BRL01............................................................................................ 68
Canadian Dollar—CA00000001.......................................................................................69
Canadian Dollar—EU00000020....................................................................................... 70
Croatian Kuna—EU000HRK01......................................................................................... 71
Czech Koruna—EU000CZK37.......................................................................................... 72
Danish Krone—EU00000011........................................................................................... 73
Danish Krone—EU00000027........................................................................................... 74
Euro—EU00000007......................................................................................................... 75
Euro—EU00000008......................................................................................................... 76
Hong Kong Dollar—AP00000001.................................................................................... 77
Hong Kong Dollar—EU00000022.................................................................................... 78
Hungarian Forint—EU00000024...................................................................................... 79
Indonesian Rupiah—AP000IDR17.....................................................................................80
Israeli Shekel—EU000ILS35.............................................................................................. 81
Japanese Yen—AP00000005............................................................................................82
Japanese Yen—EU00000014............................................................................................83
Japanese Yen Resident Account Regional Service—AP00JPY392.......................................84
Malaysian Ringitt—AP00000004......................................................................................85
Mauritius Rupee—ME000MUR01.....................................................................................86
Mexican Peso—LA00000002........................................................................................... 87
Myanmar United States Dollar—AP00084001.................................................................. 88
New Zealand Dollar—AP00000006.................................................................................. 89
New Zealand Dollar—EU00000021.................................................................................. 90
New Zealand Dollar Processed Through the Single Message System—AP00000009..........91
Norwegian Krone—EU00000016..................................................................................... 92
Norwegian Krone—EU00000028..................................................................................... 93
Offshore Chinese Renminbi—AP00000014...................................................................... 94

Contents
Peruvian Sol Regional Service-LA000PEN04 ..................................................................... 95

Philippine Peso—AP000PHP11......................................................................................... 96
Polish Zloty—EU00000025...............................................................................................97
Pound Sterling—EU00000003..........................................................................................98
Pound Sterling—EU00000012..........................................................................................99
Romanian Leu—EU000RON38....................................................................................... 100
Russian Ruble—EU000RUB34.........................................................................................101
Singapore Dollar—AP00000003.....................................................................................102
South African Rand—EU00000019................................................................................ 103
South African Rand—ME00000001............................................................................... 104
Swedish Krona—EU00000017....................................................................................... 105
Swedish Krona—EU00000029....................................................................................... 106
Swiss Franc—EU00000009.............................................................................................107
Swiss Franc—EU00000026.............................................................................................108
Thai Baht—AP000THB16............................................................................................... 109
Turkish Lira—EU000TRY36............................................................................................. 110
United States Dollar—Bill Pay Only—US00000002......................................................... 111
Settlement Holiday Rules for US00000002.................................................................112
NSIF Instructions for Standard Settlement (Two Party) for US00000002...................... 113
NSIF Instructions for Standard Settlement (Three Party) for US00000002....................114
United States Dollar—US00000001................................................................................115
Settlement Holiday Rules for US00000001.................................................................116
United States Dollar—EU00000002................................................................................117
Settlement Holiday Rules for EU00000002.................................................................118
United States Dollar—EU00000018................................................................................118
Settlement Holiday Rules for EU00000018.................................................................119
United States Dollar—Private Label—P000000001......................................................... 120
Settlement Holiday Rules for P00000001................................................................... 121
United States Dollar Processed Through the Single Message System—AP00000010....... 121
Settlement Holiday Rules for AP00000010.................................................................122
Chapter 3: Intracurrency Settlement Services for All Licensed

Customers....................................................................................................................124
Albanian Lek—EU00000801.......................................................................................... 127
Argentine Peso—LA00003201....................................................................................... 128
Argentine Peso—LA00003202....................................................................................... 129
Australian Dollar—AP00003601.....................................................................................131
Bahamian Dollar—LA00004401..................................................................................... 132
Bangladeshi Taka—AP00005001....................................................................................133
Barbados Dollar—LA00005201...................................................................................... 135
Belize Dollar—LA00008401........................................................................................... 136
Belarussian Ruble—EU00093301................................................................................... 137

Contents
Bosnia and Herzegovina Convertible Mark—EU00097701..............................................138

Brazilian Real—27 Value Date Interval—LA00098610.....................................................140
Brazilian Real—Zero Value Date Interval—LA00098620.................................................. 141
Burundian Franc—ME00010801.................................................................................... 143
Canadian Dollar—CA00012401.....................................................................................144
Cayman Islands Dollar—LA00013601............................................................................ 145
Chilean Peso—LA00015201...........................................................................................147
Colombian Peso—LA00017001..................................................................................... 148
Congolese Franc—ME00097601....................................................................................149
Costa Rican Colon—LA00018801.................................................................................. 151
Croatian Kuna—EU00019101........................................................................................ 152
Czech Koruna—EU00020301........................................................................................ 153
Dominican Peso—LA00021402......................................................................................155
East Caribbean Dollar—LA00095101............................................................................. 157
Ecuadorian United States Dollar—LA00084001..............................................................158
Egyptian Pound—ME00081801..................................................................................... 159
Gambian Dalasi—ME00027001..................................................................................... 161
Georgian Lari—EU00098101......................................................................................... 162
Ghanaian Cedi—ME00093601...................................................................................... 164
Guatemalan Quetzal—LA00032001...............................................................................165
Guinean Franc—ME00032401....................................................................................... 166
Haitian Gourde—LA00033201....................................................................................... 168
Honduran Lempira—LA00034001..................................................................................169
Hong Kong Dollar—AP00034410.................................................................................. 170
Hungarian Forint—EU00034801.................................................................................... 171
Icelandic Krona—EU00035202.......................................................................................173
Indian Rupee—AP00035601.......................................................................................... 174
Indonesian Rupiah—AP00036001..................................................................................175
Indonesian Rupiah—AP00036002..................................................................................176
Jamaican Dollar—LA00038801...................................................................................... 178
Japanese Yen—AP00039201..........................................................................................179
Jordanian Dinar—ME00040001..................................................................................... 182
Kazakhstan Tenge—EU00039801.................................................................................. 184
Kenyan Shilling—ME00040401......................................................................................185
Lebanese Pound—ME00042201.................................................................................... 186
Lebanese United States Dollar—ME00084001................................................................188
Liberian United States Dollar—ME00084003..................................................................190
Macedonian Denar—EU00080701.................................................................................191
Malaysian Ringgit—AP00045801................................................................................... 193
Mauritius Rupee—ME00048001.................................................................................... 194
Mexican Peso—LA00048410......................................................................................... 195
Moldovan Leu—EU00049801........................................................................................ 197
Moroccan Dirham—ME00050401..................................................................................198

Contents
Nepalese Rupee—AP00052401......................................................................................199
New Zealand Dollar—AP00055401................................................................................ 201
Nicaraguan Cordoba—LA00055801.............................................................................. 202
Nigerian Naira—ME00056601....................................................................................... 203
Pakistan Rupee—ME00058601...................................................................................... 204
Paraguayan Guarani—LA00060001............................................................................... 206
Peruvian Nuevo Sol—LA00060401.................................................................................207
Peruvian United States Dollar—LA00084002..................................................................208
Philippine Peso—AP00060801....................................................................................... 210
Polish Zloty—EU00098501.............................................................................................211
Pound Sterling—EU00082601........................................................................................213
Qatari Riyal-ME00063401.............................................................................................. 214
Romanian Leu—EU00094601........................................................................................ 215
Russian Ruble—EU00064301......................................................................................... 216
Serbian Dinar—EU00094101......................................................................................... 218
Saudi Riyal—ME00068201.............................................................................................219
Sierra Leonean Leone—ME00069401............................................................................ 220
Singapore Dollar—AP00070201.....................................................................................222
Slovenian Euro—EU00097810....................................................................................... 223
South African Rand—ME00071001............................................................................... 224
Sri Lanka Rupee—AP00014401......................................................................................225
Swedish Krona—EU00075201....................................................................................... 227
Tajikistan Somoni—EU00097201....................................................................................228
Tanzanian Shilling—ME00083401.................................................................................. 229
Thai Baht—AP00076401................................................................................................231
Trinidad and Tobago Dollar—LA00078001..................................................................... 232
Ugandan Shilling—ME00080001................................................................................... 233
Ukrainian Hryvnia—EU00098001................................................................................... 235
United Arab Emirates Dirham—ME00078401................................................................ 236
Uruguayan United States Dollar—LA00084011.............................................................. 237
Uruguayan Peso—LA00085801..................................................................................... 238
Uruguayan Peso—LA00085802..................................................................................... 239
Uruguayan United States Dollar—LA00084012.............................................................. 240
Venezuelan Bolivar Fuerta (Debit)—LA00093701............................................................241
Venezuelan Bolivar Fuerta (Credit)—LA00093702.......................................................... 243
Vietnamese Dong—AP00070401...................................................................................244
Zimbabwe Dollar—ME00093203................................................................................... 245
Chapter 4: Net Settlement Information Form Instructions.................247

How to Access the Net Settlement Information Form..................................................... 248
NSIF Super User Mastercard OnLine Role........................................................................ 248
Net Settlement Information Form and Change Request.................................................. 249

Contents
Settlement Requirements for All Customers....................................................................250

Net Settlement Information Form Instructions................................................................ 251
Section I: Principal Information.................................................................................. 252
Section II: Settlement Information..............................................................................252
Section III: Transfer Agent Information....................................................................... 254
Section IV: Settlement Through Another Principal (Consolidation).............................. 258
Section V: Settlement Selection Criteria......................................................................259
Section VI: Daily Net Settlement Advisement Transmission (Optional)......................... 261
What Sections of the NSIF are Applicable to My Settlement Arrangement?.....................262
Appendix A: Net Settlement Advisements.................................................264

Net Settlement Advisements.......................................................................................... 265
Transfer Agent Advisement Detail (BSADV308-AA).........................................................266
Member Advisement Detail (BSADV303-AA).................................................................. 277
Transfer Agent Advisement Exception Report (BSADV309-AA)........................................282
Appendix B: Final Settlement ...........................................................................289

Final Settlement Details.................................................................................................. 290
Open Settlement Invoices.......................................................................................... 290
Outstanding Net Debit Settlement Position and Payments Received........................... 291
Notices...........................................................................................................................293

Settlement Concepts
Chapter 1 Settlement Concepts

This section describes the concepts used in settlement.
Settlement Definition.................................................................................................................... 12
Participation in Mastercard Settlement......................................................................................12
Best Practices for Settlement.................................................................................................... 14
Settlement Finality and Discharge............................................................................................. 15
Net Settlement Information Form..................................................................................................16
Mastercard Transaction Processing Systems................................................................................... 17
Settlement Operational Flow.........................................................................................................18
Funds Settlement.......................................................................................................................... 19
Supported Payment Process Flows.................................................................................................19
Standard Settlement-Two Party.................................................................................................20
NSIF Instructions for Standard Settlement (Two Party)...........................................................21
Standard Settlement (Three Party).............................................................................................23
NSIF Instructions for Standard Settlement (Three Party)........................................................ 24
Consolidated Settlement (Two Party)........................................................................................ 26
NSIF Instructions for Consolidated Settlement (Two Party).................................................... 27
Consolidated Settlement (Three Party)...................................................................................... 29
NSIF Instructions for Consolidated Settlement (Three Party).................................................. 29
Pay Thru Settlement (Three Party)............................................................................................. 31
NSIF Instructions for Pay Thru Settlement (Three Party)......................................................... 32
Pay Thru Settlement (Four Party)...............................................................................................34
NSIF Instructions for Pay Thru Settlement (Four Party)...........................................................35
International Bank Account Number.........................................................................................38
Settlement Services....................................................................................................................... 38
Settlement Service Continuity Procedures................................................................................. 39
Settlement Service Selection Criteria.........................................................................................40
Settlement Service Selection Criteria Example...................................................................... 41
Settlement Service Selection Process Example.......................................................................42
Regional Settlement Service......................................................................................................44
Direct Request Payment Processing with Mastercard Settlement Agents............................... 46
Minimum Threshold for Funds Transfer................................................................................ 48
Regional Settlement Holidays...............................................................................................49
Intracurrency Settlement Service............................................................................................... 51
Transaction Processing Systems..................................................................................................... 54
Private Label Settlement Services...................................................................................................56

Settlement Concepts
Failure of Customer to Settle.........................................................................................................56

Assessments.............................................................................................................................57
Compensation..........................................................................................................................58
Reimbursement of the Mastercard Settlement Agent and Mastercard Arising from Customer
Failure...........................................................................................................................................59
Additional Administrative Fees Arising from Customer Failure....................................................... 59
Disputes and Claims Procedures.................................................................................................... 60
Bilateral Agreements.....................................................................................................................60
Settlement Fees............................................................................................................................ 60
Settlement Liability........................................................................................................................61
Adjustment of Settlement Positions – Loss Allocation Among Customers...................................... 61

Settlement Concepts
Settlement Definition
Settlement Definition
Settlement is the process by which Mastercard facilitates the exchange of funds on behalf of
its customers that have sent or received financial transactions through a clearing system.
Some of the important financial transactions included in this process are:
• Presentments from acquirer to issuer
• Chargebacks from issuer to acquirer
• Fee Collections (sender and receiver depends on message reason code and includes
transactions sent from Mastercard to the customer)
• Bill Payments, such as RPPS®
• Other, such as reversals.
The exchange of successfully processed detailed financial transaction data through a clearing
system represents an obligation to exchange funds. To facilitate the settlement of funds,
Mastercard uses the Settlement Account Management (S.A.M.) system—a Windows®-based,
client–server software application designed to streamline the process of moving funds.
Funds are exchanged based on the net value of all cleared financial transactions for each
settlement day. The net value may include the following:
• Transaction amounts and all other transaction and interchange charges processed through
the clearing system(s)
• Cash disbursement and ATM cash disbursement accommodation fees
• Billing items submitted by the Mastercard Consolidated Billing System (MCBS) to the
clearing system(s), the S.A.M. system, or both. All MCBS billing collections must be paid in
USD using ACH or one of the supported USD regional settlement services.
The process by which Mastercard facilitates the exchange of funds on behalf of its customers
and the distinct components of the process are referred to herein as Mastercard Settlement.
Participation in Mastercard Settlement

Customers, transfer agents, or both must meet conditions to participate in Mastercard
settlement. The transfer agent, as account owner, is the entity responsible for the transfer of
funds on behalf of the customer.
As a condition of Mastercard membership, each customer must enter into a license agreement
with Mastercard, pursuant to which, and among other things, a grant by Mastercard to the
customer of a non-exclusive license to use Mastercard Marks (as such term is defined in the
license agreement). The license agreement expressly conditions the customer’s use of
Mastercard Marks on the customer’s agreement to comply with the quality assurance and
other standards set forth in the bylaws, rules, procedures, policies, bulletins, memoranda,
actions of the board of directors, and other directives adopted, modified, supplemented,
changed or rescinded, from time to time (collectively, the “Standards”). The Standards include
the provisions of this Settlement Manual, as such provisions may be modified from time to
time.

Settlement Concepts
Participation in Mastercard Settlement
To participate in Mastercard Settlement, and as a condition of continued participation in

Mastercard Settlement, a customer must be prepared to perform all of the following
obligations on an ongoing basis:
• Ensure that the Mastercard settlement agent has received funds on the value date for the
amount due as indicated on the Transfer Agent Detail Advisement; and
• Is able to receive funds when the customer has a net credit position; and
• Be prepared to settle on local holidays. Principals must handle their holiday calendars that
differ from the Mastercard settlement calendar by establishing a nostro account at a
correspondent bank that can effect settlement with Mastercard on their behalf.
NOTE: Refer to Mastercard Rules for definitions of capitalized terms.
Initial and continued participation in Mastercard Settlement by a customer is further expressly

conditioned upon such customer’s compliance with the following obligations:
• Customer licensed to engage in Intracountry Transaction Activity in a given country must
participate in the intracurrency settlement service for that country, if such an intracurrency
settlement service is offered by Mastercard;
• To notify the Mastercard Customer Implementation Services team promptly, within 24
hours, of becoming aware that any information previously provided in the Net Settlement
Information Form (NSIF) is inaccurate or incomplete. A new NSIF must be submitted for any
change to bank accounts, transfer agents, transfer agent banks, or new advisement
recipients. Mastercard is not responsible for settlement failures that are the result of
inaccurate or incomplete information provided by the customer. It is the customer's
responsibility to ensure all settlement information provided to Mastercard is up to date,
complete and accurate.
• Customers must formally request to be removed from a settlement service in which they no
longer wish to or are unable to participate. Until such request is received and
acknowledged by Mastercard, customers will continue to be responsible for their
settlement obligations.
Customers must maintain up to date settlement contact information in My Company
Manager on Mastercard Connect. Mastercard is not responsible for settlement incidents
that are directly or indirectly related to inaccurate, incomplete or outdated settlement
contact information that is the customer’s responsibility to provide and maintain.
• To ensure that necessary and appropriate personnel of the customer and, if applicable, the
customer’s transfer agent, including personnel responsible for the customer’s participation
in Mastercard settlement, are aware of and faithfully and fully perform all the customer’s
obligations arising from or relating to customer’s participation in Mastercard settlement;
and
• To timely pay fees and other assessments arising from or relating to participation in
Mastercard Settlement.

Settlement Concepts
Best Practices for Settlement
Best Practices for Settlement

Principals should consider best practices to avoid settlement fails and noncompliance fees
when in a net debit position.
Settlement Payment Tips

Following are tips that Mastercard suggests using when making settlement payments:
• Reference the ICA number on payment details.
• Pay the exact amount listed on settlement advisements for debit positions.
• Ensure that payments are made before the cut time and on value date.
• Ensure all payments are marked as urgent.
• Reference member account details.
Failure to act on the following items may delay payment to Mastercard and result in
noncompliance assessments:
• Receive a Transfer Agent Advisement Detail and execute the amount due on the value date
as indicated on the advisement.
• Do not combine payments for many member IDs/ICAs or value dates into one payment.
Payments must be executed for the amount due on each Transfer Agent Advisement Detail
on the specified value date.
• Ensure that the payment instruction includes the correct Mastercard settlement agent
name for the amount due on the value date.
• Do not pay late or avoid paying late.
• Ensure that the transfer agent’s correspondent bank fees are not deducted from the
amount due to Mastercard.
• Include the transfer agent ID and name within the payment message when sending
payments due to Mastercard. The transfer agent ID and name included in the payment
message must match the advisement to ensure payments are posted timely.
• Principals in a net debit position and that participate in direct request payment processing
are responsible for settlement to the Mastercard settlement account on the value date.
Non-receipt of a direct debit request is not just cause to fail settlement with Mastercard.
Principals must monitor completion of settlement by verifying with the transfer agent’s
bank that the following occurs on the value date:
– The principal’s nostro account has been debited.
– The Mastercard settlement account has been credited.
Principals must consider the transfer agent’s account requirements and settlement methods
when in a net debit or credit position. Mastercard offers options to principals on
maintaining accounts to support Mastercard settlement. Payments that avoid
correspondent banking tend to have reduced points of failure. Principals should contact
their payment processing area to evaluate each option, and consider timeliness and the
cost of payments to determine which option best meets its needs but fulfills the
Mastercard transfer agent account requirements.

Settlement Concepts
Settlement Finality and Discharge
Principals must make interbank payments with the Mastercard settlement agent using one of
the following methods:
• The principal owns a nostro account with the Mastercard settlement agent. Typically these
are low risk payments because the principal’s account and the Mastercard settlement
account are maintained at the same bank and payments are considered on-us transactions
executed through book transfer.
• The principal is a direct participant of the local Real Time Gross Settlement (RTGS) system.
Typically these are low risk payments because the principal and the Mastercard settlement
agent are direct participants of the RTGS system and payments are executed through
systems such as Fedwire® funds service or TARGET2.
• The principal owns a nostro account with a correspondent bank. The correspondent bank
should own a nostro account at the Mastercard settlement agent or be able to effect
settlement with the Mastercard settlement agent through the local RTGS system. These
payments are more likely to have points of failure because the participants that have to
take action in the payment process have increased. Payments are typically executed
through book transfers, the RTGS system, or a combination thereof.
Settlement Finality and Discharge

The Settlement Finality and Discharge tables depict settlement obligations as they relate to
Mastercard supported payment methods.
Settlement Finality
Interbank Settlement System Payments remitted via national interbank settlement systems are
(for example, High Value [RTGS] considered final in accordance with the rules of the national
and Low Value [ACH] Payment payment system in which the funds transfer is executed.
Systems) For purposes of establishing settlement finality and discharge of
obligations, funds become irrevocable when such funds are no
longer subject to unwinding or a revocation period.
All Other Payment Methods (for Payments remitted through any other method are considered final
example, book transfer and when (i) funds are received by, or sent from, as the case may be, the
local payment systems) Mastercard settlement agent, and (ii) such transfer of funds
becomes irrevocable.
For purposes of establishing settlement finality and discharge of
obligations, funds become irrevocable when such funds are no
longer subject to unwinding or a revocation period.

Settlement Concepts
Net Settlement Information Form
Discharge
Interbank Settlement Systems The settlement obligation of a net-debit customer is deemed

discharged (i) upon crediting of funds in full to the Mastercard
settlement agent’s central bank account, and (ii) when such receipt
of funds becomes irrevocable.
The payment obligation to a net-credit customer is deemed
discharged upon debiting of funds in full from the Mastercard
settlement agent’s central bank account for the benefit of such net-
credit customer.
Book Transfer The settlement obligation of a net-debit customer is deemed

discharged (i) upon debiting of funds from the customer designated
settlement account at the Mastercard settlement agent and credited
in full to the Mastercard settlement account or the Mastercard
settlement agent’s in-transit account, and (ii) when such receipt of
funds becomes irrevocable.
discharged upon crediting of funds to the customer-designated
settlement account at the Mastercard settlement agent for the
benefit of such net-credit customer.
Local Payment Systems (if The settlement obligation of a net-debit customer is deemed
settlement occurs in commercial discharged (i) upon crediting of funds in full to the Mastercard
bank funds [and not through an settlement account or Mastercard settlement agent’s in-transit
interbank settlement system]) account, and (ii) when such receipt of funds becomes irrevocable.
discharged upon debiting of funds in full from the Mastercard
settlement account or the Mastercard settlement agent’s in-transit
bank account for the benefit of such net-credit customer.
Net Settlement Information Form

To initially participate in Mastercard Settlement, a principal must complete and submit an NSIF
to Mastercard.
The NSIF is the means by which the customer provides Mastercard information necessary for
Mastercard to commence the exchange of funds on behalf of the customer. The NSIF is used
by Mastercard to identify the customer and the customer’s settlement contact; the customer’s
transfer agent and “pay thru” bank; and other information pertinent to the means, nature
and scope of the customer’s Mastercard Settlement participation. Such other information
includes, by way of example and not limitation, information about settlement service,
settlement currency, settlement parameters, and whether the customer elects to receive a Net
Settlement Advisement, which is a reporting mechanism through which a customer can be
notified of the daily net settlement position.

Settlement Concepts
Mastercard Transaction Processing Systems
Instructions for completing and submitting an NSIF to Mastercard are in Net Settlement
Information Form Instructions.
When an NSIF is received by Mastercard, Mastercard relies on the completeness and accuracy
of the information appearing thereon and act in reliance that the NSIF was submitted by a
person duly authorized and empowered by the customer to do so and in accordance with the
Mastercard Rules.
Mastercard Transaction Processing Systems

Mastercard processing systems are used to determine the net monetary value of a transaction
in the selected settlement currency.
Mastercard clearing systems are used to enable an acquirer and an issuer to exchange
financial transaction information. The following are the Mastercard clearing systems:
• Global Clearing Management System (GCMS)
• Integrated Processing Systems (IPS)
• Local Clearing Center (LCC)
• RPPS®
• Single Message System
• Mastercard Consolidated Billing System (MCBS)
After transactions are submitted to the Mastercard clearing systems in various currencies, the
Mastercard clearing system converts the transaction amount to the chosen settlement
currency.
The S.A.M. system then accumulates the settlement transactions resulting from the clearing
process and calculates the customers’ daily net settlement position. The S.A.M. system
performs an edit process, called Variance Alert Reporting, to assess a reasonability check and
validate the customer’s net settlement position.
The variance alert process is designed to detect deviations in the customers’ settlement
activity. It reduces the risk of erroneous or fraudulent transactions being settled. If a customer
has submitted erroneous or fraudulent transactions, the customer may be assessed additional
fees as described in this document. The customer’s settlement will be held until explanation of
the variance is communicated to Mastercard. To assist in validating the variance and to avoid
holding settlement, when a customer incurs BIN changes, merchant moves, or platform
consolidations that in the end affect settlement, notification to Mastercard through Global
Customer Service would alleviate research performed to explain the variance alert invoked
within the S.A.M. system.
If the customer has chosen to receive net settlement advisements (designated on the NSIF),
Mastercard notifies the customer of its net settlement position by sending the customer, or
the customer’s transfer agent, a net settlement advisement that contains the net debit or net
credit settlement position for each settlement day.

Settlement Concepts
Settlement Operational Flow
NOTE: Transfer funds orders and net settlement advisement facilitates the movement of
funds and the reconciliation of the customer’s settlement account.
Along with the Mastercard settlement agent and the customer’s transfer agent bank, which is
the institution where the transfer agent's account is maintained, the actual settlement or
exchange of funds occurs through various banking systems.
Settlement Operational Flow

This diagram illustrates the steps in the settlement operations process.
Clearing systems include:

• Mastercard Debit System (MDS)
• Bill Pay (RPPS)
• Mastercard Consolidated Billing Services (MCBS)
• Local Clearing Management System (LCMS)

Settlement Concepts
Funds Settlement
Funds Settlement
Funds are transferred among parties during settlement. There are several methods by which
funds may be transferred.
Funds transfer must occur on the value date that appears on the settlement advisement.
NOTE: Value date is the date when funds transfers must be received or completed at the
settlement agent.
For local currency or intracurrency settlement, funds may be transferred on a future business
day. This business day will be designated on the settlement advisement. Mastercard and the
Mastercard settlement agent agree on the method and timing by which the funds are
transferred between Mastercard and the customer’s transfer agent bank.
NOTE: Value date interval is the open number of business days that funds are required to
move after the settlement date. Funds due to Mastercard must be paid by the close of the
Mastercard settlement agent's banking day on the value date assigned. Value date intervals
for each settlement service are provided in Regional Settlement Services for Customers
Licensed in Regions other than Europe, Regional Settlement Services for Customers Licensed
in Europe, Intracurrency Settlement Services for Customers Licensed in Regions other than
Europe, and Intracurrency Settlement Services for Customers Licensed in Europe.
Mastercard may suspend, delay, or adjust settlement positions at any time to resolve
occurrences of erroneous settlement. Funds transfers are generally communicated to the
Mastercard settlement agent within two to three hours from the settlement service cutoff
time. Specific cutoff times are noted in Regional Settlement Services for Customers Licensed in
Regions other than Europe and Regional Settlement Services for Customers Licensed in
Europe. Funds transfers occur by one of the following methods:
• Book transfer
• Interbank settlement systems, such as Fedwire
• Local payment systems
Mastercard supports settlement arrangements based upon the banking relationships
established.
Supported Payment Process Flows

Mastercard supports various settlement arrangements for customers to move funds.
Mastercard supports the following flows:
• Standard Settlement (Two Party)
• Standard Settlement (Three Party)
• Consolidated Settlement (Two Party)
• Consolidated Settlement (Three Party)

Settlement Concepts
Standard Settlement-Two Party
• Pay Thru Settlement (Three Party)

• Pay Thru Settlement (Four Party)
The preferred flow, which has the least operational and settlement risk to Mastercard and its
customers, is the standard two party. The methods in which the funds are moved are
discussed in each individual settlement service, located in Regional Settlement Services for
Customers Licensed in Regions other than Europe, and Regional Settlement Services for
Customers Licensed in Europe.
Standard Settlement-Two Party

The payment process flow for two party standard settlement has the following characteristics.
• The Mastercard principal customer is its own transfer agent.
• The transfer agent owns the bank account used for settlement.
• The bank account is held at the transfer agent bank, which may or may not be the same
institution as the transfer agent.
1. At settlement service cutoff, Mastercard sends an advisement, if requested by the

customer, to the transfer agent.
2. Mastercard sends a transfer funds order to the Mastercard settlement agent.
3. One of the following occurs:
WHEN the customer... THEN...

Is in a credit position The Mastercard settlement agent pays the
transfer agent bank.
Is in a debit position The transfer agent bank pays the Mastercard
settlement agent.
For regional settlement service funds transfer options, payment account requirements and
payment method for each settlement service are noted in the following:
• Regional Settlement Services for Customers Licensed in Regions other than Europe
• Regional Settlement Services for Customers Licensed in Europe
NOTE: For United States Dollar—RPPS—US00000002, the Mastercard RPPS® participant or the
RPPS third-party processor’s (TPP) biller is the transfer agent and the owner of the settlement
account that is maintained at the transfer agent bank.

Settlement Concepts
NSIF Instructions for Standard Settlement (Two Party)

Customers must complete a Net Settlement Information Form (NSIF) for this method of
settlement.
Section/Field within NSIF Information Required

Section I: Principal Information
Member ID A unique identification number, also known as
ICA, that is assigned by Mastercard to identify a
customer or processing endpoint
Customer Name Name of principal institution
Customer Address Customer’s address
Customer Settlement Contact Customer’s settlement contact
Section II: Settlement Information
Type of request Select the type of request
Type of settlement service Select “Regional” or “Intracurrency”
Notify Mastercard if the NSIF is for the regional Select either “Yes” or “No” and proceed with
settlement service default completing applicable sections
Section III: Transfer Agent Information
Transfer Agent Name Name of the transfer agent should be the same as
the customer name because it is the owner of the
(Owner of the account)
account
Transfer Agent Contact Individual responsible for settlement
Transfer Agent Bank Name Name of the bank where the customer’s account
is maintained
Transfer Agent Bank Address Address of the bank where the customer’s
account is maintained
Routing Number Not Applicable
SWIFT ID SWIFT ID of the transfer agent bank
Transfer Agent Account Number Account number that is owned by the customer
Transfer Agent Account Currency ISO Currency Code
International Bank Account Number (IBAN) ISO ISO Country Code associated with the transfer
Country Code agent IBAN; optional field for future expansion of
the IBAN account format
IBAN Check Number Check Number associated with the IBAN; optional
field for future expansion of the IBAN account
format

Settlement Concepts

IBAN Bank Code Bank Code associated with the transfer agent
IBAN; optional field for future expansion of the
IBAN account format
IBAN Branch Code Branch Code associated with the transfer agent
IBAN account format
Section III: Pay Thru Information
Pay Thru Bank Name Not Applicable
Pay Thru Bank Address Not Applicable
U.S. Federal Banking Routing Transit Number Not Applicable
SWIFT ID Not Applicable
Pay Thru Bank Account Number Not Applicable
Pay Thru Bank Account Currency Not Applicable
International Bank Account Number (IBAN) ISO Not Applicable
Country Code
IBAN Check Number Not Applicable
IBAN Bank Code Not Applicable
IBAN Branch Code Not Applicable
Section IV: Consolidated Settlement Through
Another Principal
Consolidated Settlement Transfer Agent Name Not Applicable
Consolidated Transfer Agent Member ID Not Applicable

Transfer Agent Account Currency Not Applicable
Section V: Settlement Selection Criteria
Settlement Criteria: Customer completes if settlement criteria is
needed to direct the settlement of transactions to
• Card Program Identifier
a specific settlement service
• Issuer Account Range
• Acquirer BIN
• Issuer Only
• Acquirer Only
Section VI: Daily Net Settlement Advisement

Transmission
Transfer Agent Advisement Delivery Method and Should the transfer agent choose to receive an
Destination advisement, the media type and destination are
required

Settlement Concepts
Standard Settlement (Three Party)

Customer Advisement Delivery Method and Not Applicable
Destination
Standard Settlement (Three Party)

The payment process flow for three party standard settlement has the following
characteristics.
• The Mastercard principal is its own transfer agent.
• The transfer agent bank affects payments to and from the Mastercard settlement agent.
• The mutual correspondent bank acts on behalf of the Mastercard settlement agent.
1. At settlement service cutoff, Mastercard sends an advisement to the transfer agent bank.

Is in a credit position 1. The Mastercard settlement agent pays the
mutual correspondent bank.
2. The mutual correspondent bank pays the
Is in a debit position 1. The transfer agent bank pays the mutual

correspondent bank.
Mastercard settlement agent.
NOTE: For United States Dollar—RPPS—US00000002, Mastercard expects the RPPS® participant
or the TPP’s biller to own settlement accounts at both the correspondent bank and transfer
agent bank.

Settlement Concepts
NSIF Instructions for Standard Settlement (Three Party)

settlement.

Type of settlement service Select “Regional”
account
Transfer Agent’s Bank Name Name of the bank where the customer’s account
is maintained
IBAN Check Number Check Number associated with the transfer agent
IBAN account format

Settlement Concepts

IBAN account format
IBAN account format
Country Code
Another Principal
• Acquirer BIN
• Issuer Only
• Acquirer Only

Transmission
Transfer Agent Advisement Delivery Method and Should the customer choose to receive an
required

Settlement Concepts
Consolidated Settlement (Two Party)

Destination

The payment process flow for two party consolidated settlement has the following
characteristics.
• The principal has designated another principal to settle on its behalf.
• A customer that designates another principal as its transfer agent is considered to be
participating in a consolidated settlement relationship.
• The transfer agent—the designated bank—is the owner of the settlement account and will
manage the movement of funds on behalf of the customer.
• The transfer agent takes on joint and several liability with the customer for all settlement
amounts that are meant to be settled through the transfer agent’s account.
• In the event funds are not transferred by the specified value date, the transfer agent shall
be obligated to pay to Mastercard any interest compensation or non-compliance fees
associated with such failure. (Refer to the Assessments section for a description of
assessment calculations.)
1. At settlement service cutoff, per the customer instructions, Mastercard may send an
advisement to the transfer agent and may send an advisement to the customer.

Is in a credit position The Mastercard settlement agent remits payment
to the transfer agent's account held at the
Is in a debit position The transfer agent instructs the transfer agent
bank to remit payment to the Mastercard
settlement agent.
For regional settlement service funds transfer options, payment account requirements and
payment method for each settlement service are noted in the following:

Settlement Concepts
NSIF Instructions for Consolidated Settlement (Two Party)
• Regional Settlement Services for Customers Licensed in Regions other than Europe
• Regional Settlement Services for Customers Licensed in Europe

settlement.

Transfer Agent Name Not Applicable
Transfer Agent Contact Not Applicable

Transfer Agent Bank Name Not Applicable
Transfer Agent Bank Address Not Applicable
Transfer Agent Account Number Not Applicable
Country Code

Settlement Concepts

Country Code
Another Principal
Consolidated Settlement Transfer Agent Name Transfer Agent Name
Consolidated Transfer Agent Member ID Transfer Agent ID
Transfer Agent Bank Account Currency ISO Currency Code
• Acquirer BIN
• Issuer Only
• Acquirer Only

Transmission
Transfer Agent Advisement Delivery Method and Should the Transfer Agent choose to receive an
Destination advisement for the customers that have
designated them to move money on their behalf,
the media type and destination are required
Customer Advisement Delivery Method and Should the customer choose to receive an
Destination individual advisement on their settlement position,

Settlement Concepts
Consolidated Settlement (Three Party)
Consolidated Settlement (Three Party)

The payment process flow for three party consolidated settlement has the following
characteristics.
• The principal has designated another bank to settle on its behalf.
• The transfer agent—the designated principal—is the owner of the settlement account and
manages the movement of funds on behalf of the customer.
• The mutual correspondent bank acts on behalf of the Mastercard settlement agent.
• The transfer agent takes on joint and several liability with the customer for all settlement
amounts that are meant to be settled through the transfer agent’s account.
• In the event funds are not transferred by the specified value date, the transfer agent shall
be obligated to pay to Mastercard any interest compensation or non-compliance fees
associated with such failure. (Refer to the Assessments section for a description of
assessment calculations.)
1. At settlement service cutoff, Mastercard may send an advisement to the transfer agent
bank and may send an advisement to the customer.
3. The transfer agent bank moves funds on the customer's behalf.

Is in a debit position 1. The transfer agent bank pays the mutual

correspondent bank.
NSIF Instructions for Consolidated Settlement (Three Party)

settlement.


Settlement Concepts
NSIF Instructions for Consolidated Settlement (Three Party)

Transfer Agent Name Not Applicable
Transfer Agent Contact Not Applicable

Transfer Agent Bank Name Not Applicable
Transfer Agent Bank Address Not Applicable
Transfer Agent Account Number Not Applicable
Country Code

Settlement Concepts
Pay Thru Settlement (Three Party)

Country Code
Another Principal
Consolidated Settlement Transfer Agent Name Transfer Agent Name
Consolidated Transfer Agent Member ID Transfer Agent ID
• Acquirer BIN
• Issuer Only
• Acquirer Only

Transmission
Transfer Agent Advisement Delivery Method and Should the Transfer Agent choose to receive an
Destination advisement for the customers that have
designated them to move money on their behalf,
Customer Advisement Delivery Method and Should the customer choose to receive an
Destination individual advisement on their settlement position,

The payment process flow for three party pay thru settlement has the following
characteristics.
• The pay thru bank facilitates payments to and from the Mastercard settlement agent.
• A pay thru bank is used in situations where the transfer agent bank is unable to complete
financial transactions with the Mastercard settlement agent.
• Mastercard expects the customer to own the settlement accounts at both the pay thru
bank and transfer agent bank.

Settlement Concepts
NSIF Instructions for Pay Thru Settlement (Three Party)
bank.

pay thru bank.
2. The pay thru bank pays the transfer agent
bank.
Is in a debit position 1. The transfer agent bank pays the pay thru
bank.
2. The pay thru bank pays the Mastercard
settlement agent.

settlement.


Settlement Concepts

account
is maintained
IBAN account format
IBAN account format
IBAN account format
Pay Thru Bank Name Pay thru bank name that has the banking
relationship with the transfer agent bank to move
funds on behalf of the customer
Pay Thru Bank Address Pay thru bank address
SWIFT ID SWIFT ID of the pay thru bank
Pay Thru Bank Account Number The pay thru bank account number
Pay Thru Bank Account Currency ISO Currency Code
International Bank Account Number (IBAN) ISO ISO Country Code associated with the pay thru’s
Country Code IBAN; optional field for future expansion of the
IBAN account format

Settlement Concepts
Pay Thru Settlement (Four Party)

IBAN Check Number Check Number associated with the pay thru’s
IBAN account format
IBAN Bank Code Bank Code associated with the pay thru’s IBAN;
optional field for future expansion of the IBAN
account format
IBAN Branch Code Branch Code associated with the pay thru’s IBAN;
account format
Another Principal
• Acquirer BIN
• Issuer Only
• Acquirer Only

Transmission
Transfer Agent Advisement Delivery Method and Should the pay thru and the transfer agent
Destination choose to receive an advisement for the
customers that have designated them to move
money on their behalf, the media type and
destination are required
Destination
Pay Thru Settlement (Four Party)

The payment process flow for four party pay thru settlement has the following characteristics.
• The pay through—or mutual correspondent—bank facilitates payments to and from the
Mastercard settlement agent and the mutual correspondent bank.

Settlement Concepts
NSIF Instructions for Pay Thru Settlement (Four Party)
• A pay through bank is used in situations where the transfer agent bank is unable to
complete financial transactions with the Mastercard settlement agent and the mutual
correspondent bank.
• Mastercard expects the customer to own the settlement accounts at both the pay thru
bank and transfer agent bank.
bank.

2. The mutual correspondent bank pays the pay
thru bank.
3. The pay thru bank pays the transfer agent
bank.
Is in a debit position 1. The transfer agent bank pays the pay thru
bank.
2. The pay thru bank pays the mutual
correspondent bank.

settlement.


Settlement Concepts

account
is maintained
IBAN account format
IBAN account format
IBAN account format
Pay Thru Bank Name Pay thru bank name that has the banking
funds on behalf of the customer

Settlement Concepts

Pay Thru Bank Address Pay thru bank address
SWIFT ID SWIFT ID of the pay thru bank
Pay Thru Bank Account Number The pay thru bank account number
Pay Thru Bank Account Currency ISO Currency Code
International Bank Account Number (IBAN) ISO ISO Country Code associated with the pay thru’s
Country Code IBAN; optional field for future expansion of the
IBAN account format
IBAN Check Number Check Number associated with the pay thru’s
IBAN account format
IBAN Bank Code Bank Code associated with the pay thru’s IBAN;
account format
IBAN Branch Code Branch Code associated with the pay thru’s IBAN;
account format
Another Principal
• Acquirer BIN
• Issuer Only
• Acquirer Only

Transmission
Transfer Agent Advisement Delivery Method and Should the pay thru and the transfer agent
Destination choose to receive an advisement for the
customers that have designated them to move
money on their behalf, the media type and
destination are required

Settlement Concepts
International Bank Account Number

Destination
International Bank Account Number

The International Bank Account Number (IBAN)-based bank account number structure is
intended to improve the effectiveness of cross-border payments within the European Union by
utilizing a commonly structured and validated format.
The use of IBAN will help ensure that receiving banks are able to process payments efficiently
to the beneficiary’s account. The use of the IBAN account structure is mandatory for EUR
settlement services and Mastercard recommends it for all other settlement services.
To allow for the future expansion of the IBAN account format into additional non-EUR
currencies, customers may specify an IBAN, when available, in the Transfer Agent Information
section, Pay Thru Information section, or both, of the NSIF.
Settlement Services
Mastercard requires customers to select the settlement service in which they want to
participate.
The settlement service types offered by Mastercard are:
• Regional settlement
• Intracurrency settlement (or Domestic Settlement)
• Bilateral settlement
All customers must participate in at least one regional settlement service. In the defined
regional settlement service, customers can settle in either U.S. dollars or a local currency
supported by Mastercard.
The use of intracurrency settlement services in any country is limited to Intracountry
Transaction Activity between customers that are licensed by Mastercard for activity in such
country. To use the intracurrency settlement service, appropriately licensed customers may
participate in an intracurrency settlement arrangement. All domestic transactions between
customers that are participating in any given intracurrency settlement service shall settle in the
designated country’s currency. Each intracurrency settlement service must net to zero in the
payment currency for each settlement date. Contact a Regional Office representative for
additional information about intracurrency settlement participation.
One customer may enter a bilateral agreement with another customer to settle transactions
between themselves. Mastercard is able to process the transactions and provide settlement
detail within the outbound clearing message in the Global Clearing Management System
(GCMS). However, Mastercard does not perform settlement, create settlement advisements,
move funds between the two customers, or provide any daily reconciliation and settlement

Settlement Concepts
Settlement Service Continuity Procedures
reports for bilateral settlement activity. Both customers that participate in a bilateral
agreement must notify Mastercard before submitting bilateral transactions. Failure to notify
Mastercard will result in rejected transactions.
All customers must submit a complete NSIF to select or change their selected regional or
intracurrency settlement services. A customer indicates the settlement payment currency on
the NSIF. For a complete listing of settlement currencies supported by Mastercard and their
corresponding currency codes, refer to sections 2–5. Net Settlement Information Form
Instructions, contains instructions for completing the NSIF. To obtain a copy of the RPPS® NSIF
to be completed, Mastercard RPPS customers should refer to the Mastercard RPPS—User
Guide and Operating Rules.
Mastercard offers an enhanced settlement process called settlement service selection.
Customers that participate in regional settlement with the GCMS platform can settle
transactions based on specific settlement selection criteria. This settlement selection criteria
offers customers the ability to customize settlement of the transactions processed by
Mastercard. More information is in Settlement Service Selection Criteria.
NOTE: The services listed in Regional Settlement Services for All Licensed Customers and
Intracurrency Settlement Services for All Licensed Customers are not intended to be all
inclusive and local requirements may change after the publication of this document. The
participating customer is responsible to verify all information and requirements with the
settlement agent. Before participating in any services, customers should contact their
settlement agent or a Global Settlement Services representative with questions.
Settlement Service Continuity Procedures

Mastercard recognizes the value of providing to our customers settlement in local currencies.
The support of settlement in currencies other than U.S. dollars exposes Mastercard to several
types of risk.
While Mastercard continues working to enhance and expand these services, certain economic,
geopolitical, or other events may require Mastercard to suspend or discontinue settlement in a
specific currency with little or no notification. In the event that a country’s primary
communication system is unavailable and a secondary or back-up system is not provided,
Mastercard may suspend settlement in that currency or country until such time as the
communication lines are operable. In any event, Mastercard ultimately determines whether
settlement is delayed or suspended and notifies participating customers accordingly.
Intracurrency Settlement
If Mastercard deems it necessary to suspend or discontinue one of its intracurrency settlement
services, Mastercard will convert each participating customer’s settlement position to its
regional settlement currency.
Mastercard will use the most recent published foreign exchange rates to perform this
conversion.

Settlement Concepts
Settlement Service Selection Criteria
Regional Settlement
If Mastercard must suspend or discontinue one of its regional settlement services, Mastercard
will convert each participating customer’s settlement position to the clearing system’s base
currency of U.S dollar.
Communication to Customers
If Mastercard suspends a settlement service, Mastercard will provide affected customers and
transfer agents with revised settlement advisements. In addition, Mastercard will publish a
special customer alert to describe the circumstances surrounding the event.
Settlement Service Selection Criteria

Settlement service selection criteria functionality offers customers that participate in regional
settlement to customize settlement processing for their GCMS transactions.
At this time, settlement service selection criteria is supported only by the GCMS platform.
Customers that participate in other clearing platforms will continue to abide by current
business rules for settlement.
Customers that participate in the GCMS platform may settle in multiple regional services using
one member ID. The GCMS platform will use settlement service selection criteria to determine
the customer’s settlement currency and account number when the customer participates in
more than one regional service. The following are settlement service selection criteria: card
program identifier (CPI), issuer account range, acquirer BIN, issuer-only activity, or acquirer-
only activity.
Customers that are licensed in multiple countries using one member ID, and choose to
participate in multiple intracurrency settlement agreements should contact their regional office
and Global Customer Service to discuss possible settlement options. The discussion will help
ensure that the settlement request meets the intracurrency agreement whereby all participants
realize the expected settlement outcome.
Since a customer may participate in multiple settlement arrangements per member ID for
transactions processed within the GCMS platform, one regional settlement account must be
defined as the default and carry no settlement service selection criteria.
Mastercard has defined a process to use when a customer wants to implement settlement
service selection criteria functionality. Because of the complexity of settlement requests using
selection criteria, the standard time line for implementing an NSIF with criteria will be waived
and an implementation date will be determined on a case-by-case basis. Customers that settle
GCMS transactions using the new functionality should expect to participate in the steps stated
as follows:
1. The customer communicates the business application for using settlement service selection
criteria to their business contact. This includes defining the types of GCMS transactions to
be processed and settled within a specific settlement account/currency.
2. Mastercard representatives work with the customer to refine the request and assess the
level of effort from a business and technical perspective to help ensure that all needs are

Settlement Concepts
Settlement Service Selection Criteria Example
addressed. Testing of the new functionality may be required depending on the complexity
of the request.
3. The customer completes and delivers the NSIF to Mastercard.
4. The customer and Mastercard establish an implementation date.
NOTE: Mastercard, in its sole discretion, may restrict usage of settlement selection criteria as
deemed appropriate to protect Mastercard programs and help ensure service quality.
NOTE: In connection with the implementation and activation of the capacity to direct
settlement of GCMS processed transactions using settlement selection criteria, Mastercard
strongly recommends testing. Mastercard cannot ensure that the implementation and
activation of this functionality will not affect the qualification of transactions for new and
existing accounts under the customer’s ID/ICA if testing is not executed. The customer and
transfer agent will assume all risks (including, without limitation, paying assessments
associated with the failure to transfer funds in accordance with the Mastercard Settlement
Manual) and indemnify Mastercard against all loss, damage, liability arising out of or relating
to the implementation and activation of the capacity to direct settlement of GCMS processed
transactions without testing.
Settlement Service Selection Criteria Example

This example shows how a customer processing through GCMS may establish criteria for
settlement service selection.
Card
Settlement Issuer Program
Custome Account Settlement Account Acquirer Acquirer Issuer Identifie
r Number Service Range BIN Only Only r
1234 MMMNNN Intracurrency none none none none none
AHong Kong specified specified specified specified specified
Dollar settlement
currency
BBBCCC Regional none none none none MCC
AJapanese Yen specified specified specified specified
settlement
currency
AAABBB Default none none none none none
ServiceRegional specified specified specified specified specified
BUSD settlement
currency
Customer 1234 has chosen to participate in intracurrency settlement and two regional
services with one being the default regional service. In one of the regional settlement services,
the customer has included specific criteria to guide settlement, as follows:
• Intracurrency A supports all transactions applicable to the intracurrency agreement.

Settlement Concepts
Settlement Service Selection Process Example
• Regional A supports an assigned card program identifier of Mastercard® Credit.

• Regional B is defined as the regional default. If the transactions processed do not meet the
business requirements or settlement criteria defined for intracurrency A or regional A, then
the transaction will settle in regional B.
After the customer determines the settlement parameters necessary to guide the transactions
for settlement, the customer must complete an NSIF. Instructions for completing the NSIF are
in Net Settlement Information Form Instructions.
The hierarchy for settlement service selection is bilateral, intracurrency, regional, and then the
regional default. The settlement service selection process evaluates customer participation in
this order. If no intracurrency settlement service agreement exists in which both customers
participate, Mastercard assigns settlement to each customer’s regional settlement service and
account information.
If, during the settlement service selection process, it is determined that the transaction
qualifies for multiple settlement services within the same level, GCMS will use the parameters
with the most specific matching criteria. For an example of the multiple settlement services
within the same level, refer to the previous table.
NOTE: For additional information about the GCMS settlement service selection process, refer
to Section 4, “Settlement Service,” of the GCMS Reference Manual.

To illustrate the settlement service selection process, assume that the following customers
participate in settlement service agreements, with no additional criteria specified.
Customer Intracurrency Regional

1234 X X
5678 X X
6541 X
Assume that customers 1234 and 5678 participate in the same intracurrency settlement agreement.
Based on the previous table, the following settlement services would be selected.
Transactions between… Would use the following settlement service

1234 and 5678 Intracurrency settlement
5678 and 6541 Regional settlement
6541 and 1234 Regional settlement
To further illustrate settlement service selection, the following example includes settlement for
intracurrency and regional services using settlement criteria.

Settlement Concepts
Settlement
Account Card
and Issuer Program
Custome Settlement Settlement Account Acquirer Acquirer Issuer Identifie
r Currency Service ID Range BIN Only Only r
3214 LLLRRR Intracurrency none none none none none
specified specified specified specified specified
SGD-702 A
UUUBBB Regional F none none none none none

MYR-458 default
9876 KKKFFF Intracurrency none none none none none

SGD-702 A
JJJLLL Regional E none none none none MCC

specified specified specified specified
CAN-124
AAAMMM Regional C none none none none none

AUD-036 default
4521 VVVPPP Regional D none none none none none

USD-840 default
8523 SSSMMM Regional D none none none none none

USD-840 default
Transactions Between 3214 and 9876

Transaction currency is Singapore Dollar and the Card Program Identifier is Mastercard Credit.
Sending and receiving customers both participate in the Intracurrency agreement. Settlement
is as follows:
• 3214 will settle in account LLLRRR/SGD-702, Intracurrency A
• 9876 will settle in account KKKFFF/SGD-702, Intracurrency A

Transaction currency is Canadian Dollars and the Card Program Identifier is Mastercard Credit.
Settlement is as follows:
• 4521 will settle in account VVVPPP/USD-840, Regional D—Customer’s regional default
service
• 9876 will settle in account JJJLLL/CAN-124, Regional E

Settlement Concepts
Regional Settlement Service

Transaction currency is U.S. Dollar and the Card Program Identifier is Mastercard Credit.
Settlement is as follows:
• 4521 will settle in account VVVPPP/USD-840, Regional D—customer’s regional default
service
• 8523 will settle in account SSSMMM/USD-840, Regional D—customer’s regional default
service

Regional settlement allows customers to settle their activity in any regional settlement
currency supported by Mastercard independent of the settlement currency of the other party
to the transaction.
Customers must participate in a regional settlement service. However, the customers involved
in a clearing transaction that qualifies for regional settlement are not required to settle in the
same regional settlement service.
To participate in a regional settlement service, customers must meet the following
requirements:
• The customer must identify an acceptable transfer agent bank for net settlement payments
or receipts.
• The customer must have an agreement with its transfer agent bank to transfer funds
through the applicable funds movement mechanism available for the regional currency to
be transferred.
• Mastercard must approve of the currency for settlement. Mastercard may add or remove
supported currencies at any time.
• The customer must honor holiday schedules as published by Mastercard.
NOTE: All customers must have a default regional settlement arrangement defined.
Mastercard charges customers that participate in regional settlement service (U.S. dollar or
local currency) a monthly settlement service participation fee. The monthly fees are assessed
for each transfer agent settlement account within the regional settlement service. The fees
cover the administrative costs that Mastercard incurs.
The settlement service fees appear on the customer’s Billing Collection Report.
Customers that choose to settle in local currency must indicate the settlement currency in the
NSIF and receive approval from Mastercard for its use. The customer must return the NSIF to
Mastercard at least 30 days before settlement implementation.
Any customer that wants Mastercard to consider supporting a new regional settlement service
currency should submit its request in writing and identify the chosen transfer agent bank for
consideration to the Head of Global Settlement Services (GSS).

Settlement Concepts
Mastercard will base its approval of a local currency for regional settlement on factors
including, but not limited to, currency liquidity, economic feasibility, and local banking
regulations.
For scenarios of regional settlement service processing by currency, refer to Regional
Settlement Services for Customers Licensed in Regions other than Europe and Regional
Settlement Services for Customers Licensed in Europe.
U.S. Dollar Settlement Requirements for US00000001, US00000002, EU00000002,

P000000001, AP00000010, and EU00000018 Services
The following are requirements specific to U.S. dollar settlement:
• The customer must maintain a U.S. dollar account at a transfer agent bank that is a
customer of the Federal Reserve System in the United States, or maintain an account at the
• The transfer agent bank must be prepared to receive and respond to a Fedwire credit and
Federal Reserve 1031 drawdown request.
To participate in regional U.S. dollar settlement, the customer must provide to both
Mastercard and the customer’s designated transfer agent bank a letter authorizing the
transfer agent bank to accept and act on settlement instructions it receives from Mastercard.
An original, signed debit authorization letter must be forwarded to Mastercard along with the
NSIF. An original, signed debit authorization letter should be forwarded to the banking
institution where the account resides. The form and content of this authorization letter must
be acceptable to Mastercard. Refer to the Debit Authorization Letter (Form 336).
NOTE: Customers participating in regional settlement services that settle in currency other
than U.S. dollars are not required to complete the Authorization Letter for Wire Transfers.
U.S. Dollar Regional Funds Transfer for US00000001, US00000002, EU00000002,

P000000001, AP00000010, and EU00000018 Services
A transfer agent bank settling on behalf of a customer with a net debit settlement position for the day
must transfer the appropriate amounts to the Mastercard settlement agent by 14:00 St. Louis time, the
same day. All late payments to the Mastercard net settlement account will be subject to a non-
compliance assessment, including those received after 14:00 but before the close of the business day.
For U.S. dollar regional settlement, refer to the following table to determine the status of funds based
on receipt at the Mastercard settlement agent.
If funds are received by… Then their status will be… Assessment?
14:00 St. Louis time, same day On-time No
Close of business, same day Late Yes
Next business day Late Yes
If a customer cannot transfer funds by 14:00 St. Louis time, it must transfer funds by the close
of the business day in St. Louis (17:00).

Settlement Concepts
Direct Request Payment Processing with Mastercard Settlement Agents
NOTE: For assessment information, issuers processing and settling private label should refer
to Private Label.
Mastercard bases its approval of U.S. dollar settlement outside the U.S. region on factors
including, but not limited to, availability, local custom, and economic feasibility.
When a transfer agent bank maintains a U.S. dollar account with the Mastercard settlement
agent, the Mastercard settlement agent effects a book transfer. The Mastercard settlement
agent will initiate instructions through the Federal Reserve using a Fedwire 1031 drawdown
message to initiate collection of U.S. dollar payments from accounts maintained at other
financial institutions.

Mastercard offers direct request payment processing on various settlement services.
Direct request debit processing with Mastercard settlement agents is offered and supported by
establishing nostro accounts as instructed in this section for each regional settlement service
and its settlement currency. Principals must give written notification of the debit authorization
to the bank where the nostro account resides, also known as the transfer agent’s bank, and to
Mastercard.
Principals in a net debit position and that participate in direct request payment processing are
responsible for settlement to the Mastercard settlement account on the value date. Non-
receipt of a direct debit request is not just cause to fail settlement with Mastercard.
Principals must monitor completion of settlement by verifying with the transfer agent's bank
that its nostro account has been debited and that the Mastercard settlement account has
been credited on the value date.
To support direct request payments, each principal's nostro account must be funded or have
established credit lines to cover its settlement position. If the principal or its designated
transfer agent fails to effect settlement on the value date for the amount stated on the
advisement, it is noncompliant and will incur assessments as outlined in the Settlement
Manual.
JPMorgan Chase
The following settlement service IDs for U.S. dollar settlement with the Mastercard settlement
agent, JPMorgan Chase, support direct request payment processing:
• United States Dollar—US00000001
• United States Dollar—RPPS—US00000002
• United States Dollar—EU00000002
• United States Dollar—Private Label—P000000001
• United States Dollar Processed Through the Single Message System—AP00000010
• United States Dollar—EU00000018
Direct request processing with JPMorgan Chase is available when the principal has its U.S.
dollar settlement account in the United States.

Settlement Concepts
Principals have two direct request processing options as follows:

• The principal maintains a U.S. dollar nostro account with JPMorgan Chase, New York, USA
or its correspondent bank maintains a U.S. dollar account with JPMorgan Chase, New
York, USA. Mastercard instructs JPMorgan Chase to effect a direct debit book transfer to
the principal’s settlement account.
• The principal maintains a U.S. dollar nostro account with a correspondent bank in the
United States that is a Fedwire participant. JPMorgan Chase initiates instructions through
the Federal Reserve using a Fedwire 1031 drawdown message to request U.S. dollar
payments from accounts maintained at other financial institutions that are Fedwire
participants.
Mastercard requires principals to complete and deliver a Debit Authorization Letter (Form 336)
to the banking institution where the account resides and to Mastercard. In addition,
customers must submit new account information to Mastercard, through an NSIF. The NSIF
and letter are on Mastercard Connect™ on the Forms page under the category Clearing and
Settlement.
IF the customer does not perform all the following... THEN...

• Ensure that JPMorgan Chase or its correspondent bank is Direct request processing will not be
prepared to honor the direct debit request. authorized and the principal must
• Deliver the new account information through the NSIF. initiate payment to Mastercard
• Deliver the Debit Authorization Letter (Form 336) as without the direct debit book
instructed, with acceptance by the transfer agent’s bank transfer or 1031 drawdown
and Mastercard. message.
Deutsche Bank
The Mastercard settlement agent, Deutsche Bank, supports direct request payment processing
for the following settlement service IDs:
• Danish Krone—EU00000011
• Euro—EU00000008
• Pound Sterling—EU00000012
Direct debit book transfers are available when the principal’s nostro account is held at
Deutsche Bank, Frankfurt. Information about establishing nostro accounts and direct debit
book transfers with Deutsche Bank can be obtained through one of the following:
• Principals that currently have nostro accounts with Deutsche Bank should contact their
relationship manager.
• Principals that do not have nostro accounts with Deutsche Bank should contact the
following:
Sonja Luckan
Global Transaction Banking

Settlement Concepts
Minimum Threshold for Funds Transfer
Phone: +49 69 / 910 - 47055

Email: sonja.luckan@db.com
The customer must complete all agreements between themselves and Deutsche Bank to
authorize Mastercard to debit their account. Should the principal meet Deutsche Bank’s
requirements for opening an account, Deutsche Bank requires a debit authorization in the
account opening process. After the customer has completed the Debit Authorization Letter
(Form 336), the customer must submit a signed copy to Mastercard along with the new
account information through the NSIF. Mastercard is then be authorized to instruct Deutsche
Bank to affect a direct debit book transfer to the principal’s nostro account.
IF the customer does not perform all the following... THEN...

• Ensure that Deutsche Bank is prepared to honor the direct Direct request processing will not be
debit request. authorized and the principal must
• Deliver the new account information through the NSIF. initiate payment to Mastercard.
• Deliver the Debit Authorization Letter (Form 336), including
the principal’s transfer agent name and ICA number/
member ID, with acceptance by Deutsche Bank and
Mastercard.
Minimum Threshold for Funds Transfer

Mastercard has established criteria for small dollar payments that will help customers that
participate in regional settlement services to manage their settlement costs.
Mastercard will use the following criteria to determine if a payment meets the threshold
minimums:
• The payment is a minimum of USD 1,000 equivalent for net settlement to or from
Mastercard.
• Mastercard will retain the funds transfer for 10 business days if the cumulative net
settlement amount remains less than the threshold minimum.
S.A.M. will review net settlement positions at the transfer agent level to determine whether
the net settlement position meets the criteria for a small dollar payment. The transfer agent
level represents the level at which the assigned clearing bank generates or receives a transfer
order for the daily net settlement.
Mastercard will communicate the dates, amounts, and cumulative value associated with the
payments that Mastercard is holding through a Transfer Agent Advisement Exception report.
For more information about this report, refer to Net Settlement Advisements.
This functionality does not apply to participants of RPPS® and intra-currency services.
Customers participating in the following regional settlement services may choose to opt in by
completing the Participant of Transfer Funds Order Minimum Thresholds (Form 829). For all
other settlement services, customers opt in by default. Customers choosing to opt out must

Settlement Concepts
Regional Settlement Holidays
complete and submit the Non-participant of Transfer Funds Order Minimum Thresholds (Form
814).
AP000THB16
AP000IDR17
AP000PHP11
AP00084001
EU00000008
EU00000009
EU00000011
EU00000012
EU00000014
EU00000016
EU00000017
EU00000019
EU00000020
EU00000021
EU00000022
EU00000023
EU00000024
EU00000025
EU000CZK37
EU000HRK01
EU000ILS35
EU000RON38
EU000RUB34
EU000TRY36

Regional holidays factor into when settlement occurs among customers.
The following holiday rules apply to regional settlement services for customers licensed in
Europe and regions other than Europe:
• Settlement will not occur on any Mastercard declared holidays including 1 January and
25 December and settlement will not be valued on 1 January and 25 December.

Settlement Concepts
• Settlement will not occur on any of the local country's banking holidays.
When a currency holiday is announced by the central bank, local monetary authority, or
local settlement agent, Mastercard will exclude that currency's regional settlement service
from a settlement cutoff. Therefore, when a currency holiday is declared or the local
settlement agent observes a banking holiday, settlement advisements for the affected
regional settlement service will not be delivered to the participating customers. In addition,
those dates are excluded as good value date for that currency.
• Settlement will not be valued on any local currency holiday or U.S. Federal Reserve
holidays.
NOTE: For holiday rules specific to settlement services, refer to United States Dollar—
US00000001, United States Dollar—RPPS—US00000002, United States Dollar—EU00000002,
United States Dollar Processed Through the Single Message System—AP00000010, United
States Dollar—Private Label—P000000001, and United States Dollar—EU00000018.
Holiday Calendar
The following tables provide an example of a calendar following these rules.
31 Dec 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan

Weekend Mastercard Open Local Open U.S. Holiday Weekend
Declared Holiday
Holiday
U.S. Holiday 4 Jan 5 Jan 6 Jan

Advisements Delivered Y Y N
TFO Delivered Y Y N
Good Value Date Y N N
Local Holiday 2 Jan 3 Jan 4 Jan
Advisements Delivered Y N Y
TFO Delivered Y N Y
Good Value Date Y N Y
Mastercard Declared Holiday 31 Dec 1 Jan 2 Jan
Advisements Delivered N N Y
TFO Delivered N N Y
Good Value Date N N Y
Mastercard determines the holidays that regional settlement service participants will observe
and may change at any time. When the transfer of funds is late, the computation of

Settlement Concepts
Intracurrency Settlement Service
compensation will include holidays occurring between the date that the transfer should have
occurred and the date that the transfer took place. For a current Mastercard U.S. holiday
schedule, refer to the Quick Reference Booklet. Regional holidays are published monthly, one
month in advance, in the Global Operations Bulletin.

This section describes customer requirements for Intracurrency Settlement Service.
Each customer is required to participate in any Mastercard intracurrency settlement service
where such customer is licensed by Mastercard to operate, in addition to its default and any
other regional settlement services (U.S. dollar or local currency) they have selected.
All participating Mastercard customers in the specified arrangement settle their domestic
Mastercard activity in the currency of the intra-currency settlement service through the
Mastercard local intracurrency settlement agent.
NOTE: A customer must have a default regional settlement arrangement in place before
participating in an intracurrency settlement arrangement.
Intracurrency Settlement Requirements

In establishing an intracurrency settlement relationship, the following must occur:
• Intracurrency settlement services that mandate Mastercard settlement agent approval
require the Mastercard settlement team to validate approval before implementation.
• Mastercard establishes an agreement with the local settlement agent and settlement
holidays are defined.
• All participating customers complete an NSIF and complete customer testing.
• Customers may only participate in intracurrency settlement services in countries where such
customer is licensed by Mastercard to operate. Customers not licensed in an intracurrency
service country are prohibited from participating in such services.
• Each customer is responsible for contacting the settlement agent for the service in which
they want to participate.
• Customers must ensure that they are compliant with the local rules and regulations of that
country.
• All chargebacks for intracurrency settlement services must be settled in local currency.
• The participation requirements for each intracurrency settlement service may vary by
country.
The intracurrency settlement services have the following features:
• Customers licensed in a specific country settle in a single settlement currency. All qualified
transactions occurring between participating customers will be settled in the designated
currency.
• Only domestic transactions qualify for intracurrency settlement.

Settlement Concepts
• Settlement cutoff for intracurrency settlement services can occur after any one of the
multiple clearing cycles if all customers participating in the service agree on the settlement
cutoff time.
• Customers use a local settlement agent as approved by Mastercard.
• Settlement advisements are provided in the currency of the intracurrency settlement
arrangement.
• The service may reduce customer costs associated with foreign exchange conversion risk.
Each licensed customer that requests participation in an intracurrency settlement service must
complete an NSIF. This allows Mastercard to process local transactions that qualify for
intracurrency settlement through the clearing system(s) for settlement in the designated
currency. For more information about the NSIF, refer to Net Settlement Information Form
Instructions. Refer to the Net Settlement Information Form (Form 339).
Intracurrency settlement supports the settlement of domestic transactions in the local currency
common of the given country. It also supports local holiday schedules as provided by the local
settlement agent. The clearing system and the Settlement Account Management (S.A.M.)
system separate intracurrency settlement qualifying transactions from all other transactions.
Mastercard settles all intracurrency settlement qualified transactions in the agreed upon
currency of the arrangement.
Intracurrency settlement guarantees the same reliability and service levels that customers
experience when sending non-intracurrency settlement transactions to the clearing system.
All qualified licensed participating customers must complete the required documentation
before they can implement an intracurrency settlement program.
Intracurrency Participation Requirements

Intracurrency settlement is structured as a series of legal agreements between the following
participants.
Participant Responsibility
Mastercard Issuer Must be licensed to participate in settling Intracountry Transaction
Activity in the local settlement currency of the intracurrency
arrangement.
Mastercard Acquirer Must be licensed to participate in settling Intracountry Transaction
Activity in the local settlement currency of the intracurrency
arrangement.
Local Settlement Agent Agrees to facilitate settlement for intracurrency participants.
This is any bank, agent, or
other entity appointed to
represent Mastercard to effect
settlement in the local market.
Mastercard International Agrees to provide clearing, settlement, and MIS reporting services
for intracurrency transactions.

Settlement Concepts
For detailed information on each intracurrency settlement service, refer to Intracurrency

Settlement Services for All Licensed Customers.
NOTE: Using the Mastercard systems to process intracurrency transactions involves the
movement of financial information across country borders. Customers should contact local
banking and legal experts before requesting intracurrency arrangements to ensure that the
implementation may proceed without violating local banking regulations.
Intracurrency Funds Transfer

Intracurrency settlement provides customers the opportunity to process and settle Intracountry
Transaction Activity in the currency of the arrangement.
The Mastercard Global Settlement Operations Department will arrange a local banking
relationship to effect payments for intracurrency settlement processing. Mastercard will
designate a local settlement agent for this purpose. Mastercard will establish a net settlement
account at the designated settlement agent when applicable. In addition, both Mastercard
and a duly authorized agent of the settlement agent must sign a Settlement Services
Agreement before intracurrency settlement can occur in a given settlement currency.
Mastercard may require customers to open settlement accounts at the designated settlement
agent, though whenever possible, the local interbank payment process will be used.
Each intracurrency settlement arrangement will have its own unique funds transfer
procedures. Generally, funds transfers will occur between the designated Mastercard
settlement account and the accounts of customers located either at the settlement agent or at
a designated transfer agent bank. Under the terms of the Settlement Services Agreement,
Mastercard will notify customers as to the value dating custom, funds transfer process, and all
applicable times and deadlines.
In all cases, the funds transfers must be made on the value date as instructed in the
settlement advisement. The funds transferred must be in the currency of the arrangement.
Intracurrency Settlement Holidays

The following holiday rules apply to intracurrency settlement services for customers licensed in
Europe and regions other than Europe:
• The local holiday calendar is observed.
When a currency holiday is announced by the central bank, local monetary authority, or
local settlement agent, Mastercard will exclude that currency's intracurrency settlement
service from a settlement cutoff. Therefore, when a currency holiday is declared or the local
settlement agent observes a banking holiday, settlement advisements for the affected
intracurrency settlement service will not be delivered to the participating customers. In
addition, those dates are excluded as good value dates.
• Settlement will not occur and will not be valued on 1 January and 25 December.
• Settlement will not occur and will not be valued on any of the local country's banking
holidays.

Settlement Concepts
Transaction Processing Systems
The net settlement process recognizes holidays that the local settlement agent in the
intracurrency settlement arrangement designates. If a funds transfer for a customer in a net
credit position cannot be accomplished because of a transfer agent bank holiday, even when
the intracurrency settlement agent is open for business, and the customer has notified
Mastercard in advance, the transfer will be accomplished on the next bank business day and
no compensation will be due. Customers in a net debit position must prefund or make other
arrangements with the settlement agent.
Customers involved in an intracurrency arrangement elect to settle their intracurrency activity
based on the holiday schedule of their intracurrency settlement agent.
Monthly Customer Settlement Participation Fee

The Monthly Customer Settlement Participation Fees fee, charged per transfer agent ICA
number, is USD 300, unless noted in the individual settlement services.

Mastercard clearing systems provide files for input into the Settlement Account Management
(S.A.M.) system.
These files provide summaries of all financial transactions processed for a clearing cycle. Each
time a financial clearing message is exchanged, the transaction amount is paid to one
customer (usually the sender of the message or the acquirer) and collected from the other
customer (usually the receiver of the message or issuer). The processing and routing of these
financial transactions between acquirer and issuer is through the Mastercard clearing systems,
including the following:
• Local Clearing Center (LCC)
• Integrated Processing Systems (IPS)
• RPPS®
• Mastercard Consolidated Billing System (MCBS)
Settlement through the S.A.M. system is organized and reported by member IDs. When a
participant’s member ID is in a net debit position or net credit position with Mastercard,
Mastercard will send an advisement of the settlement position. This notification is called a Net
Settlement Advisement.
Global Clearing Management System (GCMS)

The Global Clearing Management System (GCMS) is a centralized facility, owned and
operated by Mastercard International for the daily processing and routing of worldwide
financial transactions between Mastercard International and its customers.

Settlement Concepts
GCMS receives and balances financial information. The 24-hour clearing period is separated
into six separate cut off cycles known as clearing cycles. A clearing cycle is a time window that
is open for all Mastercard customers to submit clearing transactions. Settlement may occur
following any of the six clearing cutoffs, if agreed to by Mastercard.
GCMS provides summarized settlement information to the S.A.M. system, which generates
advisement messages and Transfer Funds Orders (TFOs). For more information about GCMS,
refer to the GCMS Reference Manual.
RPPS
RPPS® is an electronic network of consumer bill payment and presentment providers for
processing financial and non-financial transactions. RPPS is an electronic network designed to
route, settle, and present financial transactions for participating customers. RPPS also
processes data and payments for credit counseling agencies, walk-in payment service
providers, and balance transfers between creditors.
RPPS uses the S.A.M. system to perform the funds movement associated with sending and
receiving payments. After RPPS successfully completes its daily processing, it creates a
settlement file for input to S.A.M. Before input to S.A.M., the RPPS settlement file must first
be in proof, that is, all the received originator payment amounts less any rejected payment
amounts must equal the payment amounts being sent to concentrators. This reconciliation
helps ensure that payments are not lost or distorted during processing. For more information,
refer to the Mastercard RPPS—User Guide and Operating Rules manual or contact New
Business Development at 1-914-249-5574.
RPPS USD settlement service cutoff is 04:05 St. Louis time.
Single Message System

The Single Message System supports both regional and intracurrency settlement services. For
more information regarding Single Message System settlement options, refer to Sections 1
and 2 of the Single Message System Settlement and Reports manual.
Effective with MDS Release 6.3, customers participating in regional settlement services may
choose Single Message System multiple currency settlement. For details, refer to Section 7 of
the Single Message System Programs and Services manual. A new NSIF must be completed for
customers electing to use the Single Message System multiple currency option. Contact a
Customer Services Specialist or your regional representative for information about how to
participate in multiple currency settlement and reporting.
Customers selecting intracurrency settlement services cannot select the Single Message
System multiple currency settlement option. The Single Message System multiple currency
option is available only for regional settlement services.
For Single Message System end-of-day settlement cutoff times, refer to the Single Message
System Settlement and Reports manual.

Settlement Concepts
Private Label Settlement Services
Mastercard Consolidated Billing System (MCBS)

The Mastercard Consolidated Billing System (MCBS) consolidates and centralizes charges billed
by Mastercard International for products, programs, and services.
By centralizing the billing function, MCBS improves the following:
• Audit controls and balancing
– Simplifying billing reconciliation
– Eliminating miscellaneous debits and credits
– Reducing the need for Fee Collection Messages for Mastercard billing purposes
• Reports, providing clear and concise information including billing event descriptions, billing
rates, detailed affiliate reporting, and other detailed billing information
All customers must designate and use a single Automated Clearing House (ACH) account for
all Mastercard (MCBS) collection activity other than settlement of interchange transactions.
Mastercard will charge for each ACH returned item. Alternatively, customers may elect to
settle billing activity through their regional settlement service in S.A.M. For additional details,
refer to the Mastercard Consolidated Billing System regional documents.
Private Label Settlement Services

Refer to the Private Label Manual for details on Private Label Settlement Services.
Failure of Customer to Settle

At times, customers may be unable to receive funds transfers.
If a customer in a net credit settlement position is not ready and able to receive funds
transfers from the Mastercard settlement agent, Mastercard can hold these funds until the
customer requests that they be forwarded. When the customer is able to receive the funds,
the customer must request in writing that Mastercard forward the funds. This request should
include the principal’s ID, a transfer agent bank account, an original signature from the
principal, and the payee name, address, amount, and advisement date. When a change of
account is requested, this must be submitted through the NSIF. The customer is not entitled to
any compensation in this situation.
A customer in a net debit settlement position must transfer funds to the Mastercard
settlement agent on the appropriate value date.
A customer is expected to have a business recovery plan in place such that the customer will
be able to transfer funds in a timely manner in the event of a natural disaster or other force
majeure at the customer’s primary location(s). Mastercard has the option to terminate the
customer’s license if the customer is unable to transfer funds to the Mastercard settlement
agent.

Settlement Concepts
Assessments
Additionally, the customer responsible for making the payment to Mastercard is subject to pay
Mastercard interest compensation and a non-compliance fee, regardless of the reason for the
settlement failure. As described in Supported Payment Process Flows, the customer
responsible for paying Mastercard is the transfer agent. Therefore, the transfer agent is held
accountable regardless of the use of a third party such as a Pay Thru bank. Assessments and
Compensation describe the application of these issues.
Assessments
Assessments are noncompliance fees levied against any customer that fails to transfer funds
by the specified value date to the Mastercard settlement agent. Assessments are calculated
based on the USD settlement equivalent amount.
Assessments are applied on the first day, and each subsequent day thereafter, that a customer
fails to transfer funds in a timely manner and in agreement with proper settlement
procedures. Customers with multiple ICA numbers will be assessed separately for each
individual ICA that has failed settlement.
If a customer affects settlement of another customer as a result of transaction submissions
into the clearing system for erroneous amounts, the customer responsible for the submission
of the erroneous amounts will also be subject to the assessments detailed in this section. In
addition, Mastercard may impose interest compensation against the offending customer for
unjust enrichment, as appropriate. For more information about the calculation of
compensation, refer to Compensation.
Assessment Calculations
The following tables contain the assessment schedule for:
• Customers participating in U.S. Dollar regional settlement that fail to settle by 14:00 St.
Louis time on the appropriate value date
Settlement Amount Daily Assessment

USD USD 0.01 to USD 249,999.99 USD 250
USD 250,000 to USD 499,999.99 USD 500
USD 500,000 to USD 999,999.99 USD 1,000
USD 1,000,000 to USD 1,499,999.99 USD 2,500
USD 1,500,000 to USD 1,999,999.99 USD 5,000
USD 2,000,000 to USD 4,999,999.99 USD 7,500
USD 5,000,000 or more USD 10,000
• Customers participating in any regional or intracurrency settlement service that fail to settle
on the appropriate value date

Settlement Concepts
Compensation
Settlement Amount Daily Assessment

USD 0.01 to USD 249.99 Interest only
USD 250 to USD 99,999.99 USD 250 plus interest
USD 100,000 or more 0.25% times the unpaid settlement
obligation plus interest
Mastercard will calculate the amount of compensation due by assessing two percent more
than the overdraft rate charged to Mastercard by the Mastercard settlement agent. For more
information, refer to Compensation.
Mastercard will assess a multi-penatly fee when a customer's ICA number fails settlement
more than two (2) times in a 30 day period. For each failure after the second failure for the
same ICA number, the assessment will be USD 5,000 for each occurrence. This includes when
a customer fails the 14:00 St. Louis time cutoff deadline three or more times in a thirty (30)
day period.
Mastercard assesses a USD 100 processing fee for funds transfer exceptions. Examples
include, but are not limited to, overpayment refunds and funds collection re-presentments.
Compensation
Customers or Mastercard may be reimbursed regarding the use of funds during settlement.
Compensation means:
• Reimbursement to a customer from Mastercard if the customer has lost the use of funds.
• Mastercard computes compensation owed to a customer using the appropriate daily
effective Settlement Agent Earnings Credit Rate in place during the failure period. All
reimbursements to the membership are processed according to Disputes and Claims
Procedures.
• Reimbursement to Mastercard from a customer if the customer had use of funds to which
it was not entitled.
• Mastercard will calculate the amount of interest compensation due by assessing 2 percent
more than the overdraft rate charged to Mastercard by the Mastercard settlement agent.
Compensation Calculations
Compensation paid to the membership shall be computed as follows:
Settlement Agent Earnings

Compensation = Principal x Credit Rate x Number of Days
360
Mastercard remits compensation through the Mastercard Consolidated Billing System (MCBS).

Settlement Concepts
Reimbursement of the Mastercard Settlement Agent and Mastercard Arising from Customer Failure
Compensation to Mastercard shall be paid for the period from the date the transfer was due through
the date that the respective funds are transferred correctly to the Mastercard net settlement account:
(Settlement Agent Overdraft Rate

Compensation = Principal x + 2 percent) x Number of Days
360
Mastercard uses the Mastercard Consolidated Billing System (MCBS) to collect compensation
due.
NOTE: “Number of Days” includes the date a customer or Mastercard fails to make payment
of funds owed and includes the date the customer or Mastercard pays funds owed, including
weekends and Mastercard holidays.
Reimbursement of the Mastercard Settlement Agent and Mastercard

Arising from Customer Failure
There may be fees assessed for customer settlement non-compliance.
Mastercard reserves the right to collect any costs related from a customer’s failure to comply
with the Settlement Manual on behalf of the Mastercard settlement agent at the direction of
the Mastercard settlement agent.
Each customer shall, at Mastercard or the Mastercard settlement agent’s demand, refund to
Mastercard any and all costs including, but not limited to interest, fees, taxes, compensation,
assessments, or other costs paid by Mastercard to the Mastercard settlement agent or other
person, entity, or local governing authority on account of such customer’s failure to comply
with the Settlement Manual. In addition to these costs, Mastercard may also charge
administrative or noncompliance fees, interest, or other administrative charges for the
collection of such fees related to a customer’s failure to comply with the Settlement Manual.
Each customer shall indemnify and hold Mastercard and the Mastercard settlement agent
harmless from and against any and all claims, losses, damages, liabilities, costs, and expenses,
including reasonable attorneys’ fees incurred by Mastercard or the Mastercard settlement
agent by way of suit, claim settlement, or otherwise, alleged or to arise out of, arising out of,
or in connection with services provided by Mastercard or the Mastercard settlement agent in
connection with settlement. The Mastercard settlement agent shall be deemed to be a third
party beneficiary of the preceding sentence with independent rights of enforcement.
Additional Administrative Fees Arising from Customer Failure

There may be administrative fees assessed for customer settlement non-compliance.
Mastercard reserves the right to charge the failing customer a two percent surcharge assessed
on any amount Mastercard collects on behalf of the Mastercard settlement agent or other

Settlement Concepts
Disputes and Claims Procedures
person, entity, or local governing authority on account of such customer’s failure to comply
with the Settlement Manual.
Disputes and Claims Procedures

Disputes and claims may occur during the settlement process.
If a customer disputes the amount of a net settlement credit or debit of which it has been
advised and seeks compensation, the customer must, upon discovery and in writing within
one business day, request of the Global Customer Service team an investigation of the matter.
In any event, the customer must effect the timely transfer of funds as reflected in the
advisement to avoid settlement penalties unless notified otherwise by Mastercard. Upon
request of Mastercard, the customer must provide relevant clearing records or other
documentation as necessary to evidence the amount involved.
Bilateral Agreements
When two customers decide to settle directly between themselves, they enter into what is
referred to as a bilateral agreement.
Both of the customers’ principal contacts must send written notice of the bilateral agreement
to the Head of Global Settlement Services (GSS) at least 30 days before they process the initial
transactions through the clearing system. If Mastercard has no record of receiving such written
notification of direct customer-to-customer settlement from both customers, the transactions
will be rejected.
If customers choose to settle directly between themselves, the transaction will not be a part of
the settlement positions processed through the Settlement Account Management system.
Settlement Fees
Mastercard uses a standard monthly billing schedule to assess fees to customers for facilitating
settlement services.
Mastercard core settlement services include the following:
• The maintenance of customer settlement parameters.
• Preparation and delivery of settlement advisements.
• Facilitating the process of settlement.
For more information regarding settlement pricing, refer to the Mastercard Consolidated
Billing System manual.

Settlement Concepts
Settlement Liability
Settlement Liability
Parties involved during the settlement process can assume liability.
For settlement activity information, refer to section 3.3 of the Mastercard Rules manual and
rule 4.11 in the Private Label Rules. Mastercard does not incur any financial or other
responsibility, or other liability to any customer or other person for any loss, cost, or other
damage arising out of the net settlement process described in this section (even if the loss,
cost, or damage is caused by the failure of Mastercard to exercise ordinary care including, by
way of example and not limitation, any error[s], delay[s] in effecting advisement[s] or funds
transfers, or errors in transaction billing date transmissions) except due to an error by
Mastercard that results in a transfer by Mastercard to a customer of an insufficient amount of
funds or in a transfer from a customer of an excess amount of funds.
If Mastercard, in its sole discretion, accepts responsibility, the total maximum responsibility of
Mastercard for the error(s) or delay(s), as the case may be, shall be the compensation defined
in the “Compensation to Customers” subsection.
Payment of principal (or a portion thereof) and compensation by Mastercard shall be a
customer’s sole and exclusive remedy with respect to Mastercard for any and all damage
incurred by it, directly or indirectly, as a result of its participation in the Mastercard net
settlement program. In this respect, only a principal and not the transfer agent bank, if
different, may recover compensation from Mastercard.
NOTE: In no event shall Mastercard be responsible for any special, indirect, consequential,
punitive, or other damages of any type.
NOTE: Mastercard disclaims all warranties with respect to the S.A.M. system, both expressed
and implied, including, but not limited to, any implied warranty of merchantability or fitness
for a particular purpose.
Adjustment of Settlement Positions – Loss Allocation Among

Customers
Per the Mastercard Rules, any loss that the Corporation incurs, or for which the Corporation
may otherwise be responsible due to the failure of a Customer, whether or not intentional, to
perform any of its Participation obligations, may be funded by application of available
mitigants and options to cover the loss, including but not limited to the following rules.
• Netting the issuing and acquiring obligations of the defaulting Customer;
• Applying Rule 3.8, Fees, Assessments, and Other Payment Obligations (as may be amended
from time to time) to the defaulting Customer;
• Applying any collateral of the defaulting Customer that is for the benefit of the
Corporation;

Settlement Concepts
Adjustment of Settlement Positions – Loss Allocation Among Customers
• Applying any applicable recovery mechanisms such as regulatory protections (for example,
governmental resolution regimes or depository insurance) or commercial arrangements
with or by the defaulting Customer (i.e., trusts or escrows of settlement funds, insurance
policies against failure);
• Applying Rule 8.9, Liability for Owned or Controlled Entities (as may be amended from
time to time) to the defaulting Customer;
Should the actions above not fully cover a loss, the Corporation may commit a portion of its
capital toward the loss. The amount of any capital contribution by the Corporation will be
determined by the Corporation, at its sole discretion, based on the circumstances at the time
of the loss.
After application of any capital contribution by the Corporation any residual losses may be
allocated among Customers by the Corporation, per Rule 8.11, Loss Allocation Among
Customers, in such manner as the Corporation deems to be appropriate, with the objective of
minimizing the risk to the overall payment system.
Any allocations of losses to customers under this Rule will be collected by appropriately
adjusting customer settlement positions. Decisions on which Customers will receive an
allocation, and the size of the allocation to be included in the settlement positions of
individual Customers will be based on considerations including, but not limited to:
• The country, or other geographic groupings with a common regulatory structure, in which
the failed Customer is licensed by the Corporation
• The guaranteed issuing volume of each Customer on Cards or Access Devices issued within
specific geographies, and/or in total
• The guaranteed acquiring volume of each Customer at merchants located within specific
geographies, or in total

Regional Settlement Services for All Licensed Customers
Chapter 2 Regional Settlement Services for All Licensed

Customers
This section describes guidelines for effecting settlement for each regional settlement service for all
licensed customers. Unless otherwise noted, the guidelines in Settlement Concepts apply to these
services. Where more than one option is available for a currency, unless a specific restriction is
noted, customers may select the option that best fits their needs. Customers should pay close
attention to the requirements of a given currency to ensure they can satisfy the criteria before
selecting a particular service.
Australian Dollar—AP00000002................................................................................................... 65
Australian Dollar Processed Through the Single Message System—AP00000008........................... 66
Australian Dollar—EU00000023................................................................................................... 67
Brazilian Real—LA000BRL01......................................................................................................... 68
Canadian Dollar—CA00000001....................................................................................................69
Canadian Dollar—EU00000020.................................................................................................... 70
Croatian Kuna—EU000HRK01...................................................................................................... 71
Czech Koruna—EU000CZK37.......................................................................................................72
Danish Krone—EU00000011........................................................................................................ 73
Danish Krone—EU00000027........................................................................................................ 74
Euro—EU00000007......................................................................................................................75
Euro—EU00000008......................................................................................................................76
Hong Kong Dollar—AP00000001................................................................................................. 77
Hong Kong Dollar—EU00000022................................................................................................. 78
Hungarian Forint—EU00000024................................................................................................... 79
Indonesian Rupiah—AP000IDR17................................................................................................. 80
Israeli Shekel—EU000ILS35........................................................................................................... 81
Japanese Yen—AP00000005........................................................................................................ 82
Japanese Yen—EU00000014........................................................................................................ 83
Japanese Yen Resident Account Regional Service—AP00JPY392....................................................84
Malaysian Ringitt—AP00000004...................................................................................................85
Mauritius Rupee—ME000MUR01................................................................................................. 86
Mexican Peso—LA00000002........................................................................................................ 87
Myanmar United States Dollar—AP00084001...............................................................................88
New Zealand Dollar—AP00000006...............................................................................................89
New Zealand Dollar—EU00000021...............................................................................................90
New Zealand Dollar Processed Through the Single Message System—AP00000009.......................91
Norwegian Krone—EU00000016..................................................................................................92

Norwegian Krone—EU00000028..................................................................................................93
Offshore Chinese Renminbi—AP00000014................................................................................... 94
Peruvian Sol Regional Service-LA000PEN04 .................................................................................. 95
Philippine Peso—AP000PHP11...................................................................................................... 96
Polish Zloty—EU00000025............................................................................................................97
Pound Sterling—EU00000003...................................................................................................... 98
Pound Sterling—EU00000012...................................................................................................... 99
Romanian Leu—EU000RON38.................................................................................................... 100
Russian Ruble—EU000RUB34..................................................................................................... 101
Singapore Dollar—AP00000003................................................................................................. 102
South African Rand—EU00000019............................................................................................. 103
South African Rand—ME00000001............................................................................................ 104
Swedish Krona—EU00000017.................................................................................................... 105
Swedish Krona—EU00000029.................................................................................................... 106
Swiss Franc—EU00000009......................................................................................................... 107
Swiss Franc—EU00000026......................................................................................................... 108
Thai Baht—AP000THB16............................................................................................................ 109
Turkish Lira—EU000TRY36..........................................................................................................110
United States Dollar—Bill Pay Only—US00000002...................................................................... 111
Settlement Holiday Rules for US00000002............................................................................. 112
NSIF Instructions for Standard Settlement (Two Party) for US00000002...................................113
NSIF Instructions for Standard Settlement (Three Party) for US00000002................................ 114
United States Dollar—US00000001............................................................................................ 115
Settlement Holiday Rules for US00000001............................................................................. 116
United States Dollar—EU00000002............................................................................................ 117
Settlement Holiday Rules for EU00000002............................................................................. 118
United States Dollar—EU00000018............................................................................................ 118
Settlement Holiday Rules for EU00000018............................................................................. 119
United States Dollar—Private Label—P000000001...................................................................... 120
Settlement Holiday Rules for P00000001................................................................................121
United States Dollar Processed Through the Single Message System—AP00000010.................... 121
Settlement Holiday Rules for AP00000010............................................................................. 122

Australian Dollar—AP00000002
This regional settlement service is for all licensed customers.
Currency Code AUD—036

Mastercard Settlement Agent JPMorgan Chase, Sydney
Value Date Interval 2
Account Name Mastercard International
Account Number Service enabled for Unique Settlement Account Identifier;
account will be disseminated under separate cover.
SWIFT ID CHASAU2XXXX
IBAN Number N/A
Settlement Service Cutoff in St. Louis 08:00
Time
Transfer Agent and Pay Thru Payment Mastercard expects that the transfer agent and pay thru have
Account Requirements and Payment an account or a banking relationship within Australia that
Method settles in Australian Dollar. The transfer agent must have legal
control of the account.
In addition, the transfer agent’s and pay thru’s account or
banking relationship should be able to process payments to
and from the Mastercard settlement agent through one of the
following:
• A participant of the Australian Real Time Gross Settlement
(RTGS) system, Australian Payments Clearing Associate
(APCA), or direct entry through the Automated Clearing
House (ACH) system
• SWIFT financial messages
• On-Us transactions through book transfers
Direct Debit Availability Yes, the JP Morgan Multibank Form must be completed and
submitted to the Mastercard Settlement Team. Contact:
GSRS@mastercard.com for the form and for opening such a
project.
Supported Payment Process Flows • Standard Settlement (Two Party)
Settlement Holiday Rules General regional rules apply.

Supported Clearing Systems • Global Clearing Management System (GCMS)

Australian Dollar Processed Through the Single Message System—AP00000008
Special Requirements for Mastercard The customer must include the six-character Bank Branch
Code, followed by the bank account number. Both of these
need to be present when providing the “account number” on
the Net Settlement Information Form (NSIF).
Australian Dollar Processed Through the Single Message System—

AP00000008

Mastercard Settlement Agent JPMorgan Chase, Sydney
SWIFT ID CHASAU2XXXX
IBAN Number N/A
Settlement Service Cutoff in St. Louis 09:30 during standard time
Time
10:30 during daylight saving time
Account Requirements and Payment an account or a banking relationship within Australia that
Method settles in Australian Dollar. The transfer agent must have legal
following:


Supported Clearing Systems Debit transactions processed through the Single Message
System

Australian Dollar—EU00000023
Australian Dollar—EU00000023

Mastercard Settlement Agent Citibank Ltd., Sydney
Account Name Mastercard International Incorporated
SWIFT ID CITIAU2XXXX
IBAN Number N/A
Time
Transfer Agent Payment Account Mastercard expects that the transfer agent has an account or
Requirements and Payment Method a banking relationship that settles in Australian Dollar. The
transfer agent must have legal control of the account.
In addition, the transfer agent’s account or banking
relationship should be able to process payments to and from
the Mastercard settlement agent through one of the
following:
• A participant of the appropriate Real Time Gross
Settlement (RTGS) system



Brazilian Real—LA000BRL01
Brazilian Real—LA000BRL01
Currency Code BRL—986

Mastercard Settlement Agent Bank of America Merrill Lynch Banco Múltiplo S.A.
Account Name Mastercard Brasil Solucoes de Pagamento Ltda
SWIFT ID MLBOBRSX
IBAN Number Service enabled for Unique Settlement Account Identifier;
Time
Requirements and Payment Method a banking relationship that settles in Brazilian Real. The
Support Payment Process Flows • Standard Settlement (Two Party)
Settlement Holiday Rules General regional rules apply

Special Rules for Settlement All customers are responsible for remitting the appropriate IOF
tax to the Brazilian tax authorities. Issuers must make
arrangements with Mastercard to pay the requisite IOF tax.

Canadian Dollar—CA00000001
Currency Code CAD—124

Mastercard Settlement Agent Bank of America N.A, Canada Branch
Address 1 181 Bay St, Suite 400
Address 2 Toronto, Ontario
Address 3 M5J 2V8
SWIFT ID BOFACATT
Routing Transit Number 024156792
IBAN Number N/A
Time
Account Requirements and Payment an account or a banking relationship within Canada that
Method settles in Canadian Dollar. The transfer agent must have legal
and from Bank of America N.A, Canada Branch, through one
of the following:
• A participant of the Canadian Real Time Gross Settlement
(RTGS) system, Canadian Payment Association (CPA)
Special Requirements for Mastercard Bank of America, Canada requires a local routing/transit code
for any account held at a Canadian bank. This nine-digit code
should be indicated in the SWIFT/Routing field on the Net
Settlement Information Form (NSIF). Bank of America, Canada
also requires the physical address of the Financial Institution
where the beneficiary's bank account is held in Canada.

Canadian Dollar—EU00000020


Canadian Dollar—EU00000020
Currency Code CAD—124

Mastercard Settlement Agent Citibank Canada, Toronto, which has a correspondent
banking relationship with Royal Bank of Canada, Toronto
(SWIFT ID ROYCCAT2XXX).
Account Number 2016343005
SWIFT ID CITICATTBCH
IBAN Number N/A
Time
Requirements and Payment Method a banking relationship that settles in Canadian Dollar. The
following:


Croatian Kuna—EU000HRK01

Croatian Kuna—EU000HRK01
Currency Code HRK—191

Mastercard Settlement Agent JP Morgan Chase,
London, United Kingdom
Country Croatia
SWIFT ID CHASGB2L
IBAN Number GB15CHAS60924267102734
Settlement Service Cutoff in St. Louis 03:00 St. Louis, MO USA time
Time
Transfer Agent and Pay Thru Payment Mastercard expects that the transfer agent has an account or
Account Requirements and Payment a banking relationship that settles in Croatian Kuna. The
Method transfer agent must have legal control of the account.
following:



Czech Koruna—EU000CZK37
Settlement Holiday Rules This service will follow the Croatian National Bank, the central
bank of Croatia, holiday calendar.
Designated Local Time for Debits 14:00 local time on the value date
Special Rules for Settlement All MCBS billing collections must be paid in USD using ACH or
one of the supported USD regional settlement services and
cannot be paid or collected using this regional settlement
service.
Czech Koruna—EU000CZK37
Currency Code CZK—203

Country Czech Republic
Settlement Agent Deutsche Bank AG Prague Branch
Swift ID DEUTCZPX
Time
Account Requirements and Payment an account or a banking relationship within the Czech
Method Republic that settles in Czech Koruna. The transfer agent
must have legal control of the account.
In addition, the transfer agent’s account should be able to
process payments to and from the Mastercard settlement
agent through one of the following:
• The local Real Time Gross Settlement (RTGS)


Danish Krone—EU00000011

Special Rules for Settlement IBAN is required for all domestic CZK payments; IBAN account
Numbers must be 24 characters.
SWIFT code and IBAN is required for all international CZK
Payments.
Currency Code DKK—208

Mastercard Settlement Agent Deutsche Bank, Frankfurt
SWIFT ID DEUTDEFFXXX
NOTE: Customers manually remitting payment should add a
branch code identifier of VAC to the above BIC

Time
Requirements and Payment Method a banking relationship that settles in Danish Krone. The
following:



Currency Code DKK—208

Mastercard Settlement Agent JPMorgan Chase, London
SWIFT ID CHASGB2L
Time
Account Requirements and Payment an account or a banking relationship within Denmark that
Method settles in Danish Krone. The transfer agent must have legal
following:
• A participant of the Danish Real Time Gross Settlement
(RTGS) system, KRONOS


Euro—EU00000007

Euro—EU00000007
Currency Code EUR—978

SWIFT ID CHASGB2L
Time
Account Requirements and Payment an account or a banking relationship within Europe that
Method settles in Euro. The transfer agent must have legal control of
the account.
following:
• A participant in the Trans-European Automated Real-Time
Gross Settlement Express Transfer System (TARGET)
payment system


Euro—EU00000008
Settlement Holiday Rules General regional rules apply. In addition, settlement will not
occur nor be valued on any Trans-European Automated Real-
Time Gross Settlement Express Transfer System (TARGET)
holidays.

Euro—EU00000008

Mastercard Settlement Agent Deutsche Bank, Frankfurt
SWIFT ID DEUTDEFF
NOTE: Customers manually remitting payment should add a
branch code identifier of VAC to the above BIC

Time
Requirements and Payment Method a banking relationship that settles in Euro. The transfer agent
following:

Hong Kong Dollar—AP00000001

Settlement Holiday Rules General regional rules apply. In addition, settlement will not
occur nor be valued on any Trans-European Automated Real-
Time Gross Settlement Express Transfer System (TARGET)
holidays.

Currency Code HKD—344

Mastercard Settlement Agent JPMorgan Chase, Hong Kong
SWIFT ID CHASHKHHXXX
IBAN Number N/A
Time
Account Requirements and Payment an account or a banking relationship within Hong Kong that
Method settles in Hong Kong Dollar. The transfer agent must have
legal control of the account.
following:
• A participant of the Hong Kong Interbank Clearing Ltd.
(HKICL) that transacts within the Clearing House
Automated Transfer System (CHATS)

Hong Kong Dollar—EU00000022
project.

Hong Kong Dollar—EU00000022


Mastercard Settlement Agent Citibank N.A., Hong Kong
SWIFT ID CITIHKHXXXX
IBAN Number N/A
Time
Requirements and Payment Method a banking relationship that settles in Hong Kong Dollar. The
following:

Hungarian Forint—EU00000024


Currency Code HUF—348

Mastercard Settlement Agent Deutsche Bank, Budapest
SWIFT ID DEUTHU2BXXX
IBAN Number HU59163000000401351290006401
Time
Requirements and Payment Method a banking relationship that settles in Hungarian Forint. The
following:
Special Rules for Settlement Mastercard truncates the net settlement position to whole
amounts when paying its customers. The settlement
advisement however will include the decimal amount.

Indonesian Rupiah—AP000IDR17


Indonesian Rupiah—AP000IDR17
Currency Code IDR—360

Country Indonesia
Settlement Agent JPMorgan Chase, Jakarta
Address 1 SCBD Lot 11A, JL. Jend. Sudirman, Kav 52-53, Floor 06
Address 2 Jakarta, 12190, Indonesia
Contact Name Theresia J. Dodit
Contact Phone (6221) 52918660
Contact Email service.id@jpmorgan.com
SWIFT ID CHASIDJX
Single Message, Dual Message, or Both
Both
Time
Designated Local Time for Debits 10:00
Designated Local Time for Credits 15:00
Direct Debit Availability Yes
Supported Payment Process Flows Standard Settlement (Two Party)

Israeli Shekel—EU000ILS35
Settlement Holiday Rules This settlement service is offered in accordance with the
holiday calendar published by the Central Bank of Indonesia
(BI) from time to time.
Settlement Account Requirements Accounts that participate in this settlement must reside in the
country of Indonesia
Accounts participating in this service must comply with the
Central Bank of Indonesia’s (BI) rules and requirements
Supported Clearing Systems Global Clearing Management System (GCMS)

Single Message System
Special Rules for Settlement Mastercard pays only those customers that have an IDR bank
account located in Indonesia
Mastercard cannot send IDR to a bank account outside of
Indonesia
Customer Settlement Failure It is critical that each customer fund its exact settlement
amount according to ICA on the value date. Customers that
fail to settle will incur assessments of noncompliance fees by
Mastercard.
Israeli Shekel—EU000ILS35
Currency Code ILS—376

Country Israel
Settlement Agent Citibank
Settlement Agent Contact israel.citiservice@citi.com
Contact Phone 972-3-684-2424
Contact Email israel.citiservice@citi.com
SWIFT ID CITIILIT


Time

Special Rules for Settlement Mastercard pays only customers that have an ILS bank
account located in Israel. Customers that want a settlement
bank account outside of Israel may do so; however,
Mastercard is unable to pay ILS to that account.
Currency Code JPY—392

Mastercard Settlement Agent JPMorgan Chase, Tokyo
SWIFT ID CHASJPJTXXX
IBAN Number N/A
Time
Account Requirements and Payment an account or a banking relationship within Japan that settles
Method in Japanese Yen. The transfer agent must have legal control of
the account.
following:

Japanese Yen—EU00000014
project.

Japanese Yen—EU00000014
This Regional Settlement Service is for all licensed customers.

Mastercard Settlement Agent Citibank Japan Ltd., Tokyo
SWIFT ID CITIJPJTXXX
IBAN Number N/A
Time
Requirements and Payment Method a banking relationship that settles in Japanese Yen. The
following:

Japanese Yen Resident Account Regional Service—AP00JPY392


Japanese Yen Resident Account Regional Service—AP00JPY392

This Regional Settlement Service is for all licensed customers with resident accounts in Japan.

Country Japan
Settlement Agent Bank of America NA, Tokyo Branch
Settlement Agent Contact Client Service
Settlement Agent Contact Phone 81-3-6758-5155
Settlement Agent Contact Email asia.sse-jp@bankofamerica.com
Account Name Mastercard Services Japan Limited
SWIFT ID BOFAJPJX
IBAN Number
Settlement Service Cutoff in St. Louis Time Sunday–Thursday at 10:30 a.m.
Value dates are Monday–Friday business days in
Japan.
Transfer Agent and Pay Thru Payment Account Mastercard expects that the transfer agent has an
Requirements and Payment Method account or a banking relationship within Japan
that settles in Japanese Yen. The transfer agent
must have legal control of the account. In
addition, the transfer agent’s account or banking
relationship should be able to process payments
to and from the Mastercard settlement agent
through one of the following:
• A participant of the appropriate Real Time
Gross Settlement (RTGS) system

Direct Debit Availability Direct Debit only available if customer account is

held at Bank of America, Tokyo Branch.

Note that due to time zone differences,
settlement in the St. Louis time will not occur the
day before a holiday in Japan. For example, a
Monday holiday in Japan will result in no
settlement positions created on Sunday St. Louis
time.
Special Requirements for Mastercard Customers that want to participate in this

Regional settlement service must have a resident
account in Japan. Customers with a resident
account held at Japanese banks other than the
settlement agent (Bank of America NA, Tokyo
Branch) must provide their Zengin code, account
type (Commercial, Savings, Money Market), and
bank name in the Japanese Language.
Currency Code MYR—458

Mastercard Settlement Agent JPMorgan Chase, Kuala Lumpur
SWIFT ID CHASMYKXXXX
IBAN Number N/A
Time

Mauritius Rupee—ME000MUR01
Account Requirements and Payment an account or a banking relationship within Malaysia that
Method settles in Malaysian Ringgit. The transfer agent must have
following:
• A participant of the Malaysian Real Time Gross Settlement
(RTGS) system, Real Time Transfer of Funds and Securities
(RENTAS)
project.

Mauritius Rupee—ME000MUR01
Currency Code MUR—480

Mastercard Settlement Agent The Mauritius Commercial Bank LTD.
Sir William Newton Street,
Port Louis
Republic of Mauritius
Country Republic of Mauritius


Mexican Peso—LA00000002
SWIFT ID MCBLMUMU
IBAN Number MU70MCBL0944000447194860000MUR
Settlement Service Cutoff in St. Louis 08:00 St. Louis, MO USA time
Time
Account Requirements and Payment a banking relationship within Mauritius that settles in
Method Mauritius rupee. The transfer agent must have legal control of
the account.
Settlement Holiday Rules This service will follow the Bank of Mauritius, the central bank
of Mauritius, holiday calendar.
Settlement Holiday Rules This service will follow the Bank of Mauritius, the central bank
of Mauritius, holiday calendar.
Special Rules for Settlement All MCBS billing collections must be paid in USD using ACH or
service.
Currency Code MXN—484

Mastercard Settlement Agent Banamex Bank
SWIFT ID BNMXMXMM
IBAN Number N/A
Time
Account Requirements and Payment a banking relationship within Mexico that settles in Mexican
Method Peso. The transfer agent must have legal control of the
account.

Myanmar United States Dollar—AP00084001


Special Requirements for Mastercard This Mexico regional settlement Service is for cross-border
transactions only. Customers choosing to participate in this
regional settlement service must have a Clave Bancaria
Estandarizada (CLABE) Number: The CLABE is a standard for
bank accounts in Mexico.
The CLABE account code has 18 digits and replaces the old
Mexican account-numbering scheme where the account
number had 11 digits. Include the 18-digit CLABE Number in
Customers that want to participate in this service must
contact the settlement agent—Banamex Bank—for a three-
digit bank code. The three-digit bank code should be listed on
the last page of the online NSIF under “Bank Code or Other.”
Myanmar United States Dollar—AP00084001

Currency Code USD—840

Mastercard Settlement Agent United Overseas Bank, Singapore
SWIFT ID UOVBSGSG
IBAN Number N/A
Time

New Zealand Dollar—AP00000006
Account Requirements and Payment an account or a banking relationship within Myanmar that
Method settles in U.S. Dollar. The transfer agent must have legal
following:
• A participant of the Myanmar Real Time Gross Settlement
(RTGS) system



Currency Code NZD—554

Mastercard Settlement Agent Bank of New Zealand (BNZ) Banking Group, Wellington
SWIFT ID BKNZNZ22XXX
IBAN Number N/A
Time

New Zealand Dollar—EU00000021
Account Requirements and Payment an account or a banking relationship within New Zealand that
Method settles in New Zealand Dollar. The transfer agent must have
following:
• A participant of the New Zealand Real Time Gross
Settlement (RTGS) system, Exchange Settlement Account
System (ESAS)


New Zealand Dollar—EU00000021


Mastercard Settlement Agent Citibank, N.A., Auckland
SWIFT ID CITINZ2XXXX
IBAN Number N/A

New Zealand Dollar Processed Through the Single Message System—AP00000009

Time
Requirements and Payment Method a banking relationship that settles in New Zealand Dollar. The
following:


New Zealand Dollar Processed Through the Single Message System—

AP00000009

Mastercard Settlement Agent Bank of New Zealand (BNZ) Banking Group, Wellington
SWIFT ID BKNZNZ22XXX
IBAN Number N/A

Norwegian Krone—EU00000016

Time
Account Requirements and Payment an account or a banking relationship within New Zealand that
Method settles in New Zealand Dollar. The transfer agent must have
following:
• A participant of the New Zealand Real Time Gross
Settlement (RTGS) system, Exchange Settlement Account
System (ESAS)


System
Currency Code NOK—578

Mastercard Settlement Agent Danske Bank, Oslo
SWIFT ID DABANO22OSL
IBAN Number NO 15 9760 0109573


Time
Requirements and Payment Method a banking relationship that settles in Norwegian Krone. The
following:


Currency Code NOK—578

SWIFT ID CHASGB2L
Time

Offshore Chinese Renminbi—AP00000014
Account Requirements and Payment an account or a banking relationship within Norway that
Method settles in Norwegian Krone. The transfer agent must have
following:
• A participant of the Norwegian Real Time Gross
Settlement (RTGS) system, Norges Bank's settlement
system (NBO)


Offshore Chinese Renminbi—AP00000014

Currency Code CNH—157

Country Hong Kong (outside of China)
Mastercard Settlement Agent JPMorgan Chase, Hong Kong
SWIFT ID CHASHKHH
IBAN Number N/A
Time

Peruvian Sol Regional Service-LA000PEN04
Account Requirements and Payment an account or a banking relationship within Hong Kong that
Method settles in Offshore Chinese Renminbi.
The transfer agent must have legal control of the account.
following:
• A participant of the Hong Kong Real Time Gross


Peruvian Sol Regional Service-LA000PEN04

Currency Code PEN—604

Mastercard Settlement Bank Citibank del Perú S.A.
Address 1 Canaval y Moreyra 480
Address 2 San Isidro
Country Republic of Peru
Account Name MasterCard International Incorporated
SWIFT ID CITIPEPL
Settlement Service Cutoff in St. Louis, 08:00 CT
MO, USA Time (CT-Central Time, USA)
Transfer Agent and Pay Through Mastercard expects that the transfer agent has an account or
Payment Account Requirements and a banking relationship within Peru that settles in the Peruvian
Payment Method sol. The transfer agent must have legal control of the account.

Philippine Peso—AP000PHP11
Settlement Holiday Rules This service will follow the Banco Central de Reserva del Pe,
the central bank of Peru, holiday calendar.
Special Rules for Settlement Customer’s settlement account must reside in the country of
Peru. Mastercard will not make any payments to a Peruvian
sol account outside of the country of Peru. The Peruvian sol
settlement service must only be used for the settlement of
card activity under the Mastercard brand.
All MCBS billing collections must be paid in USD using ACH or
service.
Customer must provide Mastercard with their 11 (eleven) digit
Tax ID number. The Tax ID number is to be included on the last
page of the online Net Settlement Information Form (NSIF),
Form 0339 under the section titled Bank Code or Other.
Customer must provide Mastercard with their 20 (twenty)
digit settlement account number.
NOTE: The first three digits will be the Bank Code, the
next three will be the Branch Code and the next
fourteen digits will represent the account number.
Philippine Peso—AP000PHP11
Currency Code PHP—608

Country Philippines
Settlement Agent Deutsche Bank, Manilla Branch
Settlement Agent Address Address 1: Tower 1 Level 26
Address 2: Ayala Triangle
Address 3: Makati City, Philippines
Contact Name Martin Tirol

Contact Title Director, Group Head
Contact Phone +63288946945
Contact Email Martin.tirol@db.com

Polish Zloty—EU00000025

Account Number 1016906-000
SWIFT ID DEUTPHMMXXX
Both
Settlement Service Cutoff in St. Louis, 08:00
MO time
Designated Local Time for Debits Issuer funds must be paid in by 10:00 on the value date.
Settlement Account Requirements Participating customers must hold an account within the
country of the Philippines
Special Rules for Settlement • Customers in a debit position that fail to pay by 10:00
local Philippine time may jeopardize settlement and could
be subject to noncompliance assessments
• Mastercard billing cannot be collected via settlement in
Philippine peso. Customers should either use USD as their
regional default or pay billing via ACH draw down.
amount according to ICA on the value date. Failure to settle
on the value date may result in a delay or non-processing of
settlement for all participants. Customers that fail to settle
may be liable for loss of use of funds by other participating
customers in addition to assessments of noncompliance fees
by Mastercard.
Currency Code PLN—985

Mastercard Settlement Agent Deutsche Bank Polska S.A., Warsaw
SWIFT ID DEUTPLPXXXX

Pound Sterling—EU00000003

Time
Requirements and Payment Method a banking relationship that settles in Polish Zloty. The transfer
agent must have legal control of the account.
following:


Currency Code GBP—826

SWIFT ID CHASGB2L
Time

Account Requirements and Payment an account or a banking relationship within Great Britain that
Method settles in Pound Sterling. The transfer agent must have legal
following:
• A participant of the United Kingdom Real Time Gross
Settlement (RTGS) system, Clearing House Automated
Payment System (CHAPS)
Special Requirements for Mastercard JP Morgan, London requires a local GBP Sort Code for any
account held at a bank in the UK. This six-digit code should be
indicated in the Comments field on the Net Settlement
Information Form (NSIF).


Mastercard Settlement Agent Deutsche Bank, London
SWIFT ID DEUTGB2LXXX

Romanian Leu—EU000RON38

Time
Requirements and Payment Method a banking relationship that settles in Pound Sterling. The
following:


Romanian Leu—EU000RON38
Currency Code RON—946

Mastercard Settlement Agent Citibank Europe plc, Dublin – Romania Branch
SWIFT ID CITIROBU
IBAN Number RO12CITI0000000120308009
Time

Russian Ruble—EU000RUB34


Special Rules for Settlement IBAN and local bank code are required for all domestic RON
payments
SWIFT code and IBAN are required for all international
payments
Russian Ruble—EU000RUB34
Currency Code RUB—643

Settlement Agent Citibank London
Contact Name Alicia Fanning
Contact Email Fiteam4.service@citi.com
Account Number Refer to account payment requirements later in this table
SWIFT ID CITIGB2L
IBAN Number N/A
Designated Local Time for Debits 11:00 local Moscow, Russia time
Designated Local Time for Credits 11:00 local Moscow, Russia time
Time
Transfer Agent and Pay Thru Payment Pay RUB [amount] to Citibank Moscow (BIK Code 044525202,
Account Requirements and Payment CITIRUMX) in favor Citibank London account number
Method 30111810700400003069. For further credit to Mastercard
International, 13787389 at Citibank N.A. London (CITIGB2L).

Central Bank Requirements Citibank Russia requires all bank account numbers to be 20
digits. When completing the Net Settlement Information Form
(NSIF), ensure the bank account number that you provided is
20 digits long. Use the Comments field in the NSIF to provide
the 20-digit account number. Customers must provide the last
15 digits of the account number in any field that requires an
account number.
Customers must establish their bank account with a financial
institution that is also a member of the Society for Worldwide
Interbank Financial Telecommunication (SWIFT).
Special Requirements for Mastercard Customers must provide Mastercard with their beneficiary INN
(Tax Identification Code). The INN can be provided on the last
page of the online NSIF under the section titled “Bank Code
or Other.” The INN should be in the following format:
INN1234567890.
The customer’s settlement account or pay thru account must
be established with a financial institution that is located within
the country of Russia.

Settlement Holiday Rules This service follows the Russian Central Bank holiday calendar.
Currency Code SGD—702

Mastercard Settlement Agent JP Morgan Chase, Singapore
SWIFT ID CHASSGSGXXX
IBAN Number N/A

South African Rand—EU00000019

Time
Account Requirements and Payment an account or a banking relationship within Singapore that
Method settles in Singapore Dollar. The transfer agent must have legal
following:
• A participant of the Singapore Real Time Gross Settlement
(RTGS) system, Monetary Authority of Singapore Electronic
Payment System (MEPS)
project.

South African Rand—EU00000019

Currency Code ZAR—710

Mastercard Settlement Agent Citibank South Africa, Standton
SWIFT ID CITIZAJXXXX

South African Rand—ME00000001
IBAN Number N/A

Time
Requirements and Payment Method a banking relationship that settles in South African Rand.
following:




Mastercard Settlement Agent JPMorgan Chase, London, which has a correspondent
banking relationship with Standard Bank of South Africa.
SWIFT ID CHASGB2L
IBAN Number GB 57 CHAS 609242 22105909
Time

Swedish Krona—EU00000017
Account Requirements and Payment an account or a banking relationship within South Africa that
Method settles in South African Rand. The transfer agent must have
and from JPMorgan Chase’s correspondent bank, Standard
Bank of South Africa, through a participant of the South
African Real Time Gross Settlement (RTGS) system, SAMOS.
Supported Payment Process Flows • Standard Settlement (Three Party)

• Consolidated Settlement (Three Party)
• Pay Thru Settlement (Four Party)

Currency Code SEK—752

Mastercard Settlement Agent Danske Bank, Stockholm
SWIFT ID DABASESXSTO
IBAN Number SE 67 1200 0000012200127294
Time

Requirements and Payment Method a banking relationship that settles in Swedish Krona. The
following:



SWIFT ID CHASGB2L
Time

Swiss Franc—EU00000009
Account Requirements and Payment an account or a banking relationship within Sweden that
Method settles in Swedish Krona. The transfer agent must have legal
following:
• A participant of the Swedish Riksbank's Real Time Gross
Settlement System (RTGS) system, RIX


Currency Code CHF—756

Mastercard Settlement Agent Deutsche Bank, Zurich
SWIFT ID DEUTCHZZXXX
Time

Requirements and Payment Method a banking relationship that settles in Swiss Franc. The transfer
agent must have legal control of the account.
following:


Special Requirements for Participating It is strongly recommended that participants in this service
Customer Settlement Accounts include their IBAN Number when completing the Net
Settlement Information Form (NSIF). Including the IBAN
Number will avoid delays, additional fees, or both when
customers are to receive funds from Mastercard.
Currency Code CHF—756

SWIFT ID CHASGB2L

Thai Baht—AP000THB16

Time
Account Requirements and Payment an account or a banking relationship within Switzerland that
Method settles in Swiss Franc. The transfer agent must have legal
following:
• A participant of the Swiss Real Time Gross Settlement
system (RTGS) system, Swiss Interbank Clearing system
(SIC)


Special Requirements for Participating It is strongly recommended that participants in this service
Customer Settlement Accounts include their IBAN Number when completing the Net
Settlement Information Form (NSIF). Including the IBAN
Number will avoid delays, additional fees, or both when
customers are to receive funds from Mastercard.
Thai Baht—AP000THB16
Currency Code THB – 764

Mastercard Settlement Agent JPMorgan Chase Bank N.A., Bangkok
Account Name MasterCard International Incorporated
SWIFT ID CHASTHBXXX

Turkish Lira—EU000TRY36
IBAN Number N/A

Time

Special Rules for Settlement Mastercard will not make any payments to a Thai baht
account outside of the country of Thailand.
Customers participating in this service must comply with Bank
of Thailand rules and requirements, including those customers
that hold a non-resident Thai baht account.
Turkish Lira—EU000TRY36
Currency Code TRY—949

Country Turkey
Settlement Agent Citibank Turkey
Settlement Agent Contact
Contact Phone
Contact Email citiservice.turkiye@citi.com
SWIFT ID CITITRIX
Time

United States Dollar—Bill Pay Only—US00000002


Special Rules for Settlement The customer’s settlement account or pay-through account
must be established with a financial institution that is located
within the country of Turkey.
Citibank Turkey requires customers to provide their local 12-
digit bank routing code when making payments within Turkey.
This code is made up of three parts:
• Bank Code (four numeric positions)
• Branch Code (five numeric positions)
• City Code (three numeric positions)
Customers need to provide their IBAN Number and this needs
to be profiled in S.A.M. The IBAN Number should be 26
characters.
United States Dollar—Bill Pay Only—US00000002


Mastercard Settlement Agent JPMorgan Chase, New York
SWIFT ID 021000021 (Routing and Transit Number)
IBAN Number N/A
Time

Settlement Holiday Rules for US00000002
Transfer Agent and Pay Thru Payment Mastercard expects that the transfer agent and correspondent
Account Requirements and Payment bank have an account or a banking relationship within United
Method States that settles in United States Dollar. The transfer agent
In addition, the transfer agent’s and correspondent bank's
account or banking relationship should be able to process
payments to and from the Mastercard settlement agent
through one of the following:
• A participant of the Federal Reserve payment system
In addition, Mastercard supports settlement of RPPS®
processed transactions through ACH for concentrators only.
For more information on ACH settlement and reporting,
contact New Business Development at 1-914-249-5574.

• Standard Settlement (Three Party)
Settlement Holiday Rules Service-specific rules apply.

Supported Clearing Systems RPPS
For more information, refer to the Mastercard RPPS—User
Guide and Operating Rules.

Holidays can determine when settlement occurs and advisements and transfer funds orders
(TFOs) are delivered.
Settlement will not occur nor be valued on U.S. Federal Reserve holidays.
Calendar Example
The following tables provide an example of a calendar for this type of settlement.

Weekend U.S. Holiday Open Open Open Open Weekend
U.S. Holiday 31 Dec 1 Jan 2 Jan

TFO Delivered N N Y

NSIF Instructions for Standard Settlement (Two Party) for US00000002
NSIF Instructions for Standard Settlement (Two Party) for US00000002

settlement and settlement service.

Section I: RPPS Participant Information
Participant Name Name of the ICA owner
ICA number ICA number issued to the participant
Participant Address Participant’s address
Participant Settlement Contact Participant’s settlement contact
Section II: Transfer Agent Information
Transfer Agent Name Name of the participant or the TPP’s biller because
it is the owner of the account

Transfer Agent Bank Name Name of the bank where the account is
maintained
Transfer Agent Bank Address Address of the bank where the account is
maintained
Routing Number Route and Transit Number of the transfer agent
bank
Transfer Agent Account Number Account number that is owned by the participant
or the TPP’s biller
Transfer Agent Account Currency United States Dollar/840 ISO Currency Code
Section III: Correspondent Bank Information
Correspondent Bank Name Not Applicable
Correspondent Bank Address Not Applicable
Correspondent Bank Account Number Not Applicable
Correspondent Bank Account Currency Not Applicable
Section IV: Daily Net Settlement Advisement
Transmission

NSIF Instructions for Standard Settlement (Three Party) for US00000002

Transfer Agent Advisement Delivery Method and Should the participant choose to receive an
required
Participant Advisement Delivery Method and Not Applicable
Destination
Section V: Agreement and Contact
Information
Signature(s) Authorized signature of participant contact
NSIF Instructions for Standard Settlement (Three Party) for US00000002

settlement and settlement service.

Section I: RPPS Participant Information
Participant Name Name of the ICA owner
ICA number ICA number issued to the participant
Participant Address Participant’s address
Participant Settlement Contact Participant’s settlement contact
Section II: Transfer Agent Information
Transfer Agent Name Name of the participant or the TPP’s biller because
it is the owner of the account

Transfer Agent Bank Name Name of the bank where the account is
maintained
Transfer Agent Bank Address Address of the bank where the account is
maintained
Routing Number Route and Transit Number of the transfer agent
bank
Transfer Agent Account Number Account number that is owned by the participant
or the TPP’s biller
Transfer Agent Account Currency United States Dollar/840 ISO Currency Code
Section III: Correspondent Bank Information

United States Dollar—US00000001

Correspondent Bank Name Correspondent bank name that has the banking
funds on behalf of the participant or the TPP’s
biller
Correspondent Bank Address Correspondent bank address
U.S. Federal Banking Routing Transit Number Route and Transit Number of the correspondent
bank
Correspondent Bank Account Number The correspondent bank account number
Correspondent Bank Account Currency United States Dollar/840 ISO Currency Code
Section IV: Daily Net Settlement Advisement
Transmission
Transfer Agent Advisement Delivery Method and Should the correspondent bank and the transfer
Destination agent choose to receive an advisement for the
participant that the correspondent bank
designated to move money on its behalf, the
media type and destination are required
Participant Advisement Delivery Method and Not Applicable
Destination
Section V: Agreement and Contact
Information
Signature(s) Authorized signature of participant contact
United States Dollar—US00000001

This Regional Settlement Service is for customers licensed in the United States.

Address 1 2200 Mastercard Blvd.
Address 2 O’Fallon, Missouri
Address 3 63368-7263
Funds due to Mastercard must be paid by 14:00 St. Louis time
on the same open business day as the settlement date


IBAN Number N/A
Time
Account Requirements and Payment an account or a banking relationship within the United States
Method that settles in United States Dollar. The transfer agent must
have legal control of the account.
following:



Calendar Example



United States Dollar—EU00000002

TFO Delivered N N Y


Mastercard Settlement Agent JP Morgan Chase, New York

IBAN Number N/A
Time
following:


Settlement Holiday Rules for EU00000002


Calendar Example


TFO Delivered N N Y

This Regional Settlement Service is for customers licensed outside of the United States.

Mastercard Settlement Agent JP Morgan Chase, New York
SWIFT ID CHASUS33XXX
IBAN Number N/A
Time

Requirements and Payment Method a banking relationship that settles in United States Dollar. The
following:



The following holiday rules apply to this settlement service:
• Settlement will not occur on any Mastercard declared holidays including 1 January and
25 December and settlement will not be valued on 1 January and 25 December.
• Settlement will not occur nor be valued on U.S. Federal Reserve holidays.
Calendar Example

Weekend Mastercard Open Open Open U.S. Holiday Weekend
Declared
Holiday

Advisements Delivered Y Y N
TFO Delivered Y Y N

United States Dollar—Private Label—P000000001

Good Value Date Y N N
Mastercard Declared Holiday 31 Dec 1 Jan 2 Jan

TFO Delivered N N Y
United States Dollar—Private Label—P000000001



IBAN Number N/A
Time
following:

Settlement Holiday Rules for P00000001


Settlement Holiday Rules for P00000001

Calendar Example


TFO Delivered N N Y
United States Dollar Processed Through the Single Message System—

AP00000010


Settlement Holiday Rules for AP00000010

IBAN Number N/A
Time
following:


System

Calendar Example


TFO Delivered N N Y



Intracurrency Settlement Services for All Licensed Customers
Chapter 3 Intracurrency Settlement Services for All

Licensed Customers
Each customer has the option to select a Mastercard intracurrency settlement service where it is
licensed by Mastercard to operate in addition to its default regional settlement service.
Albanian Lek—EU00000801....................................................................................................... 127

Argentine Peso—LA00003201....................................................................................................128
Argentine Peso—LA00003202....................................................................................................129
Australian Dollar—AP00003601................................................................................................. 131
Bahamian Dollar—LA00004401..................................................................................................132
Bangladeshi Taka—AP00005001.................................................................................................133
Barbados Dollar—LA00005201...................................................................................................135
Belize Dollar—LA00008401........................................................................................................ 136
Belarussian Ruble—EU00093301................................................................................................ 137
Bosnia and Herzegovina Convertible Mark—EU00097701.......................................................... 138
Brazilian Real—27 Value Date Interval—LA00098610................................................................. 140
Brazilian Real—Zero Value Date Interval—LA00098620...............................................................141
Burundian Franc—ME00010801................................................................................................. 143
Canadian Dollar—CA00012401..................................................................................................144
Cayman Islands Dollar—LA00013601......................................................................................... 145
Chilean Peso—LA00015201....................................................................................................... 147
Colombian Peso—LA00017001.................................................................................................. 148
Congolese Franc—ME00097601.................................................................................................149
Costa Rican Colon—LA00018801...............................................................................................151
Croatian Kuna—EU00019101.....................................................................................................152
Czech Koruna—EU00020301..................................................................................................... 153
Dominican Peso—LA00021402...................................................................................................155
East Caribbean Dollar—LA00095101.......................................................................................... 157
Ecuadorian United States Dollar—LA00084001...........................................................................158
Egyptian Pound—ME00081801.................................................................................................. 159
Gambian Dalasi—ME00027001.................................................................................................. 161
Georgian Lari—EU00098101...................................................................................................... 162
Ghanaian Cedi—ME00093601................................................................................................... 164
Guatemalan Quetzal—LA00032001........................................................................................... 165
Guinean Franc—ME00032401....................................................................................................166
Haitian Gourde—LA00033201....................................................................................................168

Honduran Lempira—LA00034001.............................................................................................. 169

Hong Kong Dollar—AP00034410............................................................................................... 170
Hungarian Forint—EU00034801................................................................................................. 171
Icelandic Krona—EU00035202................................................................................................... 173
Indian Rupee—AP00035601.......................................................................................................174
Indonesian Rupiah—AP00036001...............................................................................................175
Indonesian Rupiah—AP00036002...............................................................................................176
Jamaican Dollar—LA00038801................................................................................................... 178
Japanese Yen—AP00039201...................................................................................................... 179
Jordanian Dinar—ME00040001.................................................................................................. 182
Kazakhstan Tenge—EU00039801............................................................................................... 184
Kenyan Shilling—ME00040401...................................................................................................185
Lebanese Pound—ME00042201................................................................................................. 186
Lebanese United States Dollar—ME00084001............................................................................ 188
Liberian United States Dollar—ME00084003...............................................................................190
Macedonian Denar—EU00080701..............................................................................................191
Malaysian Ringgit—AP00045801................................................................................................193
Mauritius Rupee—ME00048001................................................................................................. 194
Mexican Peso—LA00048410...................................................................................................... 195
Moldovan Leu—EU00049801..................................................................................................... 197
Moroccan Dirham—ME00050401.............................................................................................. 198
Nepalese Rupee—AP00052401.................................................................................................. 199
New Zealand Dollar—AP00055401.............................................................................................201
Nicaraguan Cordoba—LA00055801........................................................................................... 202
Nigerian Naira—ME00056601.................................................................................................... 203
Pakistan Rupee—ME00058601...................................................................................................204
Paraguayan Guarani—LA00060001............................................................................................ 206
Peruvian Nuevo Sol—LA00060401..............................................................................................207
Peruvian United States Dollar—LA00084002...............................................................................208
Philippine Peso—AP00060801.................................................................................................... 210
Polish Zloty—EU00098501..........................................................................................................211
Pound Sterling—EU00082601.................................................................................................... 213
Qatari Riyal-ME00063401........................................................................................................... 214
Romanian Leu—EU00094601..................................................................................................... 215
Russian Ruble—EU00064301......................................................................................................216
Serbian Dinar—EU00094101...................................................................................................... 218
Saudi Riyal—ME00068201..........................................................................................................219
Sierra Leonean Leone—ME00069401......................................................................................... 220
Singapore Dollar—AP00070201................................................................................................. 222

Slovenian Euro—EU00097810.................................................................................................... 223

South African Rand—ME00071001............................................................................................ 224
Sri Lanka Rupee—AP00014401.................................................................................................. 225
Swedish Krona—EU00075201.................................................................................................... 227
Tajikistan Somoni—EU00097201................................................................................................ 228
Tanzanian Shilling—ME00083401...............................................................................................229
Thai Baht—AP00076401............................................................................................................ 231
Trinidad and Tobago Dollar—LA00078001.................................................................................. 232
Ugandan Shilling—ME00080001................................................................................................ 233
Ukrainian Hryvnia—EU00098001................................................................................................235
United Arab Emirates Dirham—ME00078401............................................................................. 236
Uruguayan United States Dollar—LA00084011...........................................................................237
Uruguayan Peso—LA00085801.................................................................................................. 238
Uruguayan Peso—LA00085802.................................................................................................. 239
Uruguayan United States Dollar—LA00084012...........................................................................240
Venezuelan Bolivar Fuerta (Debit)—LA00093701........................................................................ 241
Venezuelan Bolivar Fuerta (Credit)—LA00093702....................................................................... 243
Vietnamese Dong—AP00070401................................................................................................244
Zimbabwe Dollar—ME00093203................................................................................................ 245

Albanian Lek—EU00000801
Albanian Lek—EU00000801
This intracurrency settlement service is for settling intracountry transactions by customers
licensed by Mastercard to conduct business in Albania.
Currency Code ALL—008

Country Albania
Settlement Agent Bank of Albania
Address 1 Banka e Shqiperise
Address 2 Sheshi Skenderbej
Address 3 Nr. 1, Tirane, Albania
Contact Name Liljana Salko
Contact Title Administrator—AIPS System
Contact Phone 355 42 222 230 (3131)
Contact Fax 355 42 223 558
Contact Email Lsalko@bankofalbania.org
Both
Time
Mastercard Settlement Agent The settlement agent requires each direct participant to
Required Documents complete a debit authorization form. Contact the settlement
agent to obtain a copy of the Debit Authorization Letter.
Settlement Account Requirements Participating customers must have a bank account at the Bank
of Albania.
Mastercard Settlement Agent Mastercard is required to notify the settlement agent in
Approval Requirements writing at least 10 business days before the new participating
customer’s scheduled live date.
Mastercard Required Documents N/A
Mastercard Enabled Criteria Transaction Currency = ALL—008
Special Rules for Settlement Settlement occurs through book transfer at the Bank of
Albania.

Argentine Peso—LA00003201
by Mastercard.
This intracurrency settlement service is for settling intracountry transactions by customers
licensed by Mastercard to conduct business in Argentina.
Currency Code ARS—032

Country Argentina
Settlement Agent Compensadosa Electronica S.A. (COELSA)
Address 1 Avenida Leandro N. Alem 651 1st Floor
Address 2 Buenos Aires
Address 3 Argentina
Contact Name Mr. Guillermo Gonzalez
Contact Title Supervisor—Unidad de Control
Contact Fax 54-11-4314-2000
Contact Email ggonzalez@coelsa.com.ar
Single Message, Dual Message, or Dual Message
Both
Time
Direct Debit Availability N/A
Mastercard Settlement Agent N/A
Required Documents
Settlement Account Requirements Each participating customer shall maintain an account at
Banco Central de la Republica.


Approval Requirements
Mastercard Enabled Criteria Transaction Currency = ARS—032
Card Program Identifier = MCC, DMC
Special Rules for Settlement Customers are required to deposit collateral with Banco
Central de la Republica as reserves to fund settlement in the
event of a customer fail. The settlement agent recalculates the
collateral amount each month on the first business day of the
month. The settlement agent advises each participating
customer of the collateral amount needed. Participating
customers are required to transfer such funds by 12 p.m. local
time the next valid business day.
COELSA forwards a collateral report each month to help
ensure adequate funds are deposited with Banco Central de la
Republica.
by Mastercard.
This intracurrency settlement service is for settling intracurrency transactions by customers
licensed by Mastercard to conduct business in Argentina.
Currency Code ARS—032

Country Argentina
Settlement Agent Compensadosa Electronica S.A. (COELSA)
Address 1 Avenida Leandro N. Alem 651 1st Floor
Address 2 Buenos Aires
Address 3 Argentina
Contact Name Mr. Guillermo Gonzalez
Contact Title Supervisor—Unidad de Control

Contact Fax 54-11-4314-2000

Contact Email ggonzalez@coelsa.com.ar
Single Message, Dual Message, or Single Message
Both
Time
Required Documents
Settlement Account Requirements Each participating customer shall maintain an account with
Mastercard’s settlement agent at the address listed.
Mastercard Enabled Criteria N/A
Special Rules for Settlement Customers are required to deposit collateral with Banco
Central de la Republica as reserves to fund settlement in the
event of a customer fail. The settlement agent recalculates the
collateral amount each month on the first business day of the
month. The settlement agent advises each participating
customer of the collateral amount needed. Participating
customers are required to transfer such funds by 12 p.m. local
time the next valid business day.
COELSA forwards a collateral report each month to help
ensure adequate funds are deposited with Banco Central de la
Republica.
by Mastercard.

licensed by Mastercard to conduct business in Australia.

Country Australia
Settlement Agent Reserve Bank of Australia
Address 1 65 Martin Place
Address 2 Sydney, NSW 2000
Address 3 Australia
Contact Name RITS Help Desk
Contact Phone 1 800 659 360 (within Australia +612 2 9551 8930)
Contact Fax (61) 2 8737 3233
Contact Email rits@rba.gov.au
Both
Time
Direct Debit Availability Yes, mandated.
Participating customers in a net debit position must ensure
that there are sufficient funds in their Reserve Bank of
Australia bank account to complete the daily settlement with
Mastercard.
Mastercard Settlement Agent New customers must complete a single successful test before
Required Documents a production live date can be implemented. All testing is
coordinated by the Mastercard settlement team and Reserve
Bank of Australia.

Bahamian Dollar—LA00004401
Mastercard's settlement agent at the address listed.
Customers are required to settle through their Exchange
Settlement Account (ESA) with the Reserve Bank of Australia.
New customers must provide Mastercard with their four-digit
code issued by the Reserve Bank of Australia. The four-digit
code can be provided on the last page of the online NSIF in
the “Bank Code or Other” section.
Customers with multiple ICA numbers must consolidate all
activity into one transfer agent position.
Mastercard Settlement Agent Allow 10 business days of implementation time for new or
Approval Requirements existing account changes as required by Reserve bank of
Australia.
Special Rules for Settlement Settlement funds must be deposited into the ESA account no
later than 08:00 local time to ensure timely settlement.
by Mastercard.
Bahamian Dollar—LA00004401
licensed by Mastercard to conduct business in the Bahamas.
Currency Code BSD—044

Country Bahamas
Settlement Agent Scotiabank
Settlement Agent Account Number 80819
Address 1 Scotiabank Building
Address 2 Rawson Square
Address 3 P.O. Box N7518
Address 4 Nassau, Bahamas

Bangladeshi Taka—AP00005001
Contact Name Claudette Bethel

Contact Phone 242-356-1566
Both
Time
Required Documents
Special Rules for Settlement N/A
by Mastercard.
licensed by Mastercard to conduct business in Bangladesh.
Currency Code BDT—050

Country Bangladesh
Settlement Agent Standard Chartered Bank
Address 1 Monem Business District (MBD)

Address 2 111, Bir Uttam C.R. Datta Sarak, Karwan Bazar

Address 3 Dhaka-1205
Address 4 Bangladesh
Contact Name Saif Mamtaz
Contact Name
Contact Title Senior Manager, Settlement and Disputes
Contact Title
Contact Phone + 88 09 666355265
Contact Phone
Contact Fax N/A
Contact Email Saif.Mamtaz@sc.com
Both
Time
Required Documents
Settlement Account Requirements N/A
by Mastercard.

Barbados Dollar—LA00005201
Barbados Dollar—LA00005201
licensed by Mastercard to conduct business in Barbados.
Currency Code BBD—052

Country Barbados
Settlement Agent Royal Bank of Canada
Address 1 6880 Financial Drive Tower 2 - 4th Floor
Address 2
Address 3
Address 4 Mississauga, Ontario L5N 7Y5
Contact Name Sue Stevens
Contact Title Senior Manager, Global Payment Networks and Statement
Operations
Contact Phone (416) 974-3009 or (416) 577-0375
Contact Fax
Contact Email sue.stevens@rbc.com
Both
Time
Required Documents

Belize Dollar—LA00008401
by Mastercard.
Belize Dollar—LA00008401
licensed by Mastercard to conduct business in Belize.
Currency Code BZD—084

Country Belize
Settlement Agent Atlantic Bank Limited
Address 1
Address 2
Address 3
Address 4
Contact Name Rene Perera
Contact Title Senior Manager—Finance
Contact Phone (501) 223-4123 ext. 229
Contact Fax (501) 223-1093
Contact Email rperera@atlabanki.com
Settlement Holiday Rules This service will follow the Central Bank of Belize holiday
calendar
Supported Clearing Systems
Single Message, Dual Message, or
Both
Time

Belarussian Ruble—EU00093301

Required Documents
Domestic Interchange Available?
Central Bank Requirements
Special Regulatory Requirements
Special Document/Contract
Requirements
Special Requirements for Participating Customers that want to participate in this intracurrency
Member Settlement Accounts settlement service must have an account with Atlantic Bank
Limited.
Settlement will be completed by Atlantic Bank Limited via
book transfer, therefore participating customers in a net debit
position will be responsible for ensuring there are sufficient
funds in their Atlantic Bank Limited account to complete the
daily settlement with Mastercard.
Special Requirements for MasterCard Participating customers are required to complete a Direct
Debit Authorization letter. This form is available on Mastercard
Connect™
Special Rules for Settlement
Belarussian Ruble—EU00093301
licensed by Mastercard to conduct business in Belarus.
Currency Code BYN—933

Country Belarus
Settlement Agent The National Bank of the Republic of Belarus
Address 1 20 Nezavisimosty Ave.
Address 2 Minsk, Belarus
Address 3 Postal Code—220008
Contact Name Alexandr Alexeev
Contact Title Chief Economist, Payment System Department
Contact Phone +375-17-259-14-48
Contact Fax +375-17-203-98-80

Bosnia and Herzegovina Convertible Mark—EU00097701
Contact Email a.alexeev@nbrb.by

Both
Time
Direct Debit Availability
Required Documents
Settlement Account Requirements Each participating customer shall maintain an account at the
settlement agent at the address listed.
Participants in this service must include their IBAN Number
when completing the Net Settlement Information Form (NSIF).

Mastercard Enabled Criteria Transaction Currency = BYN—933
by Mastercard.

licensed by Mastercard to conduct business in Bosnia and Herzegovina.
Currency Code BAM—977

Country Bosnia and Herzegovina

Settlement Agent UniCredit Bank D. D.
Address 1 88000 Mostar
Address 2 Bosnia and Herzegovina
Contact Name Karmela Matanovic
Contact Title Senior Officer, Domestic Payment Services
Contact Fax 387-36-327-463
Contact Email karmela.matanovic@unicreditgroup.ba
Both
Time
Mastercard Settlement Agent Direct participants must sign a service agreement with
Required Documents UniCredit Bank D. D. before going live in the intracurrency
settlement service.
Settlement Account Requirements Participating customer account numbers must have 16 digits
and be in this format “338690484xxxxxxx”.

Mastercard Enabled Criteria Transaction Currency = BAM—977
Special Rules for Settlement Customers that want to participate in the Bosnia and
Herzegovina convertible mark intracurrency settlement service
and be a direct participant must have a correspondent bank
account at UniCredit Bank D. D. Direct participants must also
sign a service agreement with UniCredit Bank D. D. before
going live in the new intracurrency settlement service.
The settlement agent will debit or credit each participating
customer’s bank account at UniCredit Bank D. D.

Brazilian Real—27 Value Date Interval—LA00098610
by Mastercard.
Brazilian Real—27 Value Date Interval—LA00098610

licensed by Mastercard to conduct business in Brazil.
Camara Interbancaria de Pagamentos (CIP) is the local clearing house in Brazil and is the
Settlement Services LA00098610

Country Brazil
Settlement Agent Camara Interbancária de Pagamentos (CIP)
Address 1 Avenida Brigadeiro Faria Lima, 1485
Address 2 Torre Norte—9o Andar
Address 3 Sao Paulo, Brazil 01452-002
Contact Name Area de Monitoracao
Contact Email operacoes@cip-bancos.org.br
Both
Time
Designated Local Time for Debits 07:00–08:00
Required Documents

Brazilian Real—Zero Value Date Interval—LA00098620
Settlement Account Requirements Customers use a Brazil Interbank Payments System (ISPB) code
for settlement with Deferred Interbank Credit Order
Transaction Settlement System (SILOC). Customers that do not
have an ISPB code must consolidate under a customer that
does have an ISPB code.
Mastercard Settlement Agent CIP Approval must be provided to Mastercard Customer
Approval Requirements Implementations Specialist (CIS) to be forwarded to the
settlement team. Without such documentation, customers
cannot participate in the service.
Mastercard Required Documents Mastercard Settlement enrolls all participating customer with
the Transfer Agent Detail Reminder advisement if receipt of
advisements is elected by customer.
Mastercard Enabled Criteria Transaction Currency = BRL—986
Card Program Identifier = MCC
Special Rules for Settlement Only transactions in Brazilian reals qualify to settle in this
service.
by Mastercard.

licensed by Mastercard to conduct business in Brazil.
Camara Interbancaria de Pagamentos (CIP) is the local clearing house in Brazil and is the
Settlement Services LA00098620

Country Brazil
Settlement Agent Camara Interbancária de Pagamentos (CIP)
Address 1 Avenida Brigadeiro Faria Lima, 1485
Address 2 Torre Norte—9o Andar
Address 3 Sao Paulo, Brazil 01452-002

Contact Name Area de Monitoracao

Contact Email operacoes@cip-bancos.org.br
Both
Time
Designated Local Time for Credits 07:00–07:30
Required Documents
Settlement Account Requirements Customers use a Brazil Interbank Payments System (ISPB) code
for settlement with Deferred Interbank Credit Order
Transaction Settlement System (SILOC). Customers that do not
have an ISPB code must consolidate under a customer that
does have an ISPB code.
Mastercard Settlement Agent CIP Approval must be provided to Mastercard Customer
Approval Requirements Implementations Specialist (CIS) to be forwarded to the
settlement team. Without such documentation, customers
cannot participate in the service.
Special Rules for Settlement Only transactions in Brazilian reals qualify to settle in this
service.
For the products that settle at zero value date interval using
the GCMS clearing system, the settlement is based on the first
three clearing cycles for the day. The fourth, fifth, and sixth
cycles are processed the following processing day.
by Mastercard.

Burundian Franc—ME00010801
Burundian Franc—ME00010801
licensed by Mastercard to conduct business in Burundi.
Currency Code BIF—108

Country Burundi
Settlement Agent Ecobank Burundi
Address 1
Address 2
Address 3
Address 4
Contact Name Michael Mugisha
Contact Title
Contact Phone
Contact Fax
Contact Email MMUGISHA2@ecobank.com
Settlement Holiday Rules This service follows the Central Bank of Burundi holiday
calendar.
Both
Time
Required Documents
Settlement Account Requirements Customers that participate in this settlement must have an
account with Ecobank Burundi.
Mastercard Enabled Criteria Transaction Currency = BIF—108


by Mastercard.
licensed by Mastercard to conduct business in Canada.
Settlement Currency Codes CAD—124

Country Canada
Settlement Agent Bank of America N.A, Canada Branch
Address 1 181 Bay St, Suite 400
Address 2 Toronto, Ontario
Address 3 M5J 2V8
Address 4
Contact Name
Contact Title
Contact Phone
Contact Email dedicatedcanada@bankofamerica.com
Mastercard Name Mastercard International
SWIFT ID BOFACATT
Both
Time

Cayman Islands Dollar—LA00013601

Required Documents
Special Requirements for Mastercard Bank of America, Canada requires a local routing/transit code
for any account held at a Canadian bank. This nine-digit code
should be indicated in the SWIFT/Routing field on the Net
Settlement Information Form (NSIF). Bank of America, Canada
also requires the physical address of the Financial Institution
where the beneficiary's bank account is held in Canada.
Settlement Account Requirements Each participating customer's settlement account must be
held within Canada.
Special Rules for Settlement The local bank routing number is required to make CAD
payments. The local bank routing number is comprised of a
three-digit financial institution number and a five-digit branch
number, preceded by a leading zero.
by Mastercard.

licensed by Mastercard to conduct business in the Cayman Islands.
Settlement Currency Codes KYD—136

Country Cayman Islands
Settlement Agent Cayman National Bank Limited
Address 1 Cayman National Bank Ltd.
Address 2 P.O. Box 1097

Address 3 Grand Cayman KY1-1102

Address 4 Cayman Islands
Address 5
Contact Name Michele Ebanks
Contact Title
Contact Email Michele.Ebanks@caymannational.com
Settlement Holiday Rules This service will follow the Cayman Islands Public Holiday
calendar
Card Program Identifier
Debit ISIS, Credit ISIS, or Both
Settlement Service Cutoff in St. Louis 6:30 AM CST/CDT St. Louis, MO, USA
Time
Designated Local Time for Debits 16:00 Local Time George Town, Cayman Islands
Designated Local Time for Credits 16:00 Local Time George Town, Cayman Islands
Domestic Interchange Available
Central Bank Requirements
Settlement Regulatory Requirements
Requirements
Special Requirements for Participating Participating customers must complete a Debit Authorization
Member Settlement Accounts Letter (Form 336) providing Mastercard with the authority to
debit their account at the Cayman National Bank Ltd.
Participating Customers must also provide MasterCard with
their Cayman National Bank Account Number
Special Requirements for Mastercard
Mastercard Enabled Criteria Transaction Currency = KYD—136

Chilean Peso—LA00015201
Chilean Peso—LA00015201
licensed by Mastercard to conduct business in Chile.
Currency Code CHL—152

Country Chile
Settlement Agent Banco De Chile
Address 1 Av. Andres Bello 2687, Piso 3
Address 2 Las Condes, Santiago
Address 3 Chile
Contact Name Fonobank Corporativo
Contact Phone 562 26373838 Option 5
Contact Email fonobankcorporativo@bancochile.cl
Both
Time
Designated Local Time for Debits 2 p.m. local time
Designated Local Time for Credits 2 p.m. local time
Direct Debit Availability Yes, mandated
Mastercard Settlement Agent Participating Customers must complete a “Triple A
Required Documents Agreement” when opening a bank account at Banco De
Chile.
The completed agreement grants Mastercard and Banco De
Chile authority to direct debit their account within Banco De
Chile for:
• Daily Settlement
• Fail Management

Colombian Peso—LA00017001
Customers must provide Mastercard with their Beneficary Tax
Identification Number. The tax identification can be provided
on the last page of the online Net Settlement Information
Form (NSIF) under the section titled, “Bank Code or Other.”

Mastercard Required Documents Each participating customer receives a Transfer Agent
Counterparty Advisement.
Special Rules for Settlement Settlement will be completed by the Banco De Chile via book
transfer. Customers in a net debit position are responsible in
ensuring there are sufficient funds in their Banco De Chile
bank account to complete the daily settlement with
Mastercard.
by Mastercard.
Colombian Peso—LA00017001
licensed by Mastercard to conduct business in Colombia.
Currency Code COP—170

Country Colombia
Settlement Agent Banco De La República
Address 1
Address 2
Address 3
Contact Name Central Bank of Colombia Customer Service

Congolese Franc—ME00097601
Contact Phone +01 8000911745

Contact Email Atencionalciudadano@banrep.gov.co
Both
Time
Designated Local Time for Debits 09:00 (Bogota, Colombia)
Designated Local Time for Credits 09:00 (Bogota, Colombia)
Required Documents
account with Banco De La República.
Mastercard Required Documents
Mastercard Enabled Criteria Transaction Currency = COP—170
by Mastercard.
licensed by Mastercard to conduct business in the Democratic Republic of the Congo.
Currency Code CDF—976

Country Democratic Republic of the Congo
Settlement Agent Citibank
Address 1 Av.Colonel Lukusa & Ngongo-Lutete

Address 2 B.P. 9999 Kinshasa-Gombe

Address 3
Address 4
Contact Name
Contact Title
Contact Phone
Contact Fax
Contact Email
Settlement Holiday Rules This service follows the Central Bank of Democratic Republic
of the Congo holiday calendar.
Both
Time
Direct Debit Availability No
Required Documents
account within the country that participates in the Local Real
Time Gross Settlement System (RTGS) and can settle in
Congolese Franc.
Mastercard Enabled Criteria Transaction Currency = CDF—976
by Mastercard.

Costa Rican Colon—LA00018801
Costa Rican Colon—LA00018801

licensed by Mastercard to conduct business in Costa Rica.
Currency Code CRC—188

Country Costa Rica
Settlement Agent Banco Central de Costa Rica
Address 1 Av. Central y 1, Calles 2 y 4
Address 2 San José
Address 3 Costa Rica
Contact Name RENATO GAMBOA MONTERO
Contact Title Coordinator, Process of Payment and Transfers, Treasury
Department, Payment System Division
Contact Phone +506 2243-3565
Contact Fax +506 2243-4565
Contact Email monterogr@bccr.fi.cr
SWIFT ID N/A
IBAN Number N/A
Both
Time
Required Documents
Settlement Account Requirements Each participating customer should either maintain an
account with the Mastercard settlement agent listed at the
address above or contract the services of a transfer agent that
does.

Croatian Kuna—EU00019101

by Mastercard.
Croatian Kuna—EU00019101
licensed by Mastercard to conduct business in Croatia.
Currency Code HRK—191

Country Croatia
Settlement Agent Zagrebacka Banka d.d.
Address 1 Trg bana J. Jelacica 10
Address 2 10000 Zagreb
Address 3 Croatia
Contact Name Areta Cuturas
Both
Time
Required Documents
Settlement Account Requirements Customer accounts must be located within Croatia.

Czech Koruna—EU00020301

Mastercard Enabled Criteria Transaction Currency = HRK—191
Special Rules for Settlement Mastercard requests the following from the local settlement
agent:
• Approval that the customer may settle with the local
settlement agent.
• Approval of the proposed live date.
• Confirmation that the settlement instructions that the
customer provided, including the account number, may be
used for settlement with the local settlement agent.
by Mastercard.
licensed by Mastercard to conduct business in the Czech Republic.
Currency Code CZK—203

Country Czech Republic
Settlement Agent Deutsche Bank Aktiengesellschaft Filiale Prag, organizacni
slozka
Address 1 Jungmannova 34/750
Address 2 111 21 Praha 1
Address 3 Czech Republic
Contact Name Karolina Batkova
Contact Title Payment and Clearing Services
Contact Phone +420 221 191 238
Contact Email karolina.batkova@db.com


Both
Time
Direct Debit Availability Yes, mandated. The customer’s settlement account must have
valid permission for debits from third parties. Without this
permission, the Czech National Bank cannot effect settlement.
The customer must contact the National Bank and establish
the direct debit permission.
Required Documents
Settlement Account Requirements All participating customers must hold a settlement account
within the Czech Republic.
Mastercard Enabled Criteria Transaction Currency = CZK—203
Special Rules for Settlement Deutsche Bank Prague, the settlement agent, receives the
settlement file from Mastercard, converts it into the local Real
Time Gross Settlement (RTGS) format, and sends it to the
Czech National Bank. The Czech National Bank then processes
the transactions and settles the activity between the issuers
and acquirers on behalf of Mastercard.
by Mastercard.

Dominican Peso—LA00021402
licensed by Mastercard to conduct business in the Dominican Republic.
Currency Code DOP—214

Country Dominican Republic
Settlement Agent Central Bank of the Dominican Republic
Address 1 Santo Domingo
Address 2 Dominican Republic
Contact Name Mrs. Fabiola Herrera
Contact Title Payments System Department Director
Contact Phone 1-809-221-9111, extensions 3409 or 3416
Contact Fax 1-809-688-3605
Contact Email f.herrera@bancentral.gov.do
Both
Time
The settlement agent debits or credits each participating
customer’s central bank reserve account. Customers that do
not have a reserve account must select a transfer agent that
has a reserve account.
Mastercard Settlement Agent

Required Documents

Approval Requirements writing at least 10 business days before the participating
customer's scheduled live date.


Special Rules for Completing a Net Customers interested in participating in this intracurrency
Settlement Information Form (NSIF) settlement service should send a completed Net Settlement
Information Form (NSIF) to the Mastercard Customer
Implementation Team. This form is available on Mastercard
Connect™.
To access this form:
1. Navigate to www.mastercardconnect.com.
2. Log on using your User ID and Security Information.
3. Under Library, select Forms.
4. In the View Forms by Category field, select Clearing &
Settlement.
5. Select the computer icon in the Online Forms column for
6. Complete the NSIF online, except for the Transfer Agent
Account Number located in Section III on page three. The
28-digit account number exceeds the 19 spaces provided
for the Transfer Agent Bank Account; therefore, it will
need to be written on the form after it has been printed.
Print the form and write the 28-digit Transfer Agent
Account Number on the form.
7. Sign the form and send to the following address:
Settlement Operations Department
Mastercard
2200 Mastercard Boulevard
O’Fallon, MO 63368
Only one transfer agent can be used per customer, so
customers with multiple transfer agent IDs need to
consolidate under one transfer agent ID.
by Mastercard.

East Caribbean Dollar—LA00095101
East Caribbean Dollar—LA00095101

licensed by Mastercard to conduct business in St. Kitts, Nevis, or Anguilla.
Currency Code XCD—951

Country St. Kitts-Nevis-Anguilla
Settlement Agent CIBC First Caribbean
Address 1 Lot 25 & 26 Warrens Industrial Park
Address 2 St. Michael
Address 3 Barbados, BB22026
Contact Name Dona Estwick
Contact Title Processing Manager
Contact Phone 246 467-1840
Contact Email dona.estwick@cibcfcib.com
Both
Time
Required Documents

Ecuadorian United States Dollar—LA00084001
by Mastercard.
Ecuadorian United States Dollar—LA00084001

licensed by Mastercard to conduct business in Ecuador.

Country Ecuador
Settlement Agent Interdin on behalf of Banco Central del Ecuador
Contact Name Enrique Guerron
Contact Phone +593 (2) 298 1300 , extension 2200
Contact Email eguerron@dinersclub.com.ec
Contact Name Malena Giovanna Nunez
Contact Phone +593 (2) 298 1300 ext. 2242
Contact Email gnunez@dinersclub.com.ec
Contact Name Jessica Paola Rojas
Contact Phone +593 (2) 298 1300 , extension 2246
Contact Email jprojas@dinersclub.com.ec
Both
Time
Required Documents

Egyptian Pound—ME00081801
Banco Central de Ecuador as settlement will occur through
each customer's central bank account.

Approval Requirements writing at least 10 business days before the participating
by Mastercard.
licensed by Mastercard to conduct business in Egypt.
Currency Code EGP—818

Country Egypt
Settlement Agent Egyptian Banks Co. for Technological Advancement, S.A.E.
The settlement agent is the Central Bank of Egypt.

The Central Bank of Egypt’s contact information is as follows:
Central Bank of Egypt
54 El-Gomhorya Street Downtown
Cairo, Egypt
Banking Operation Sector
Mr. Rafaat Embaby (phone 16777 ext. 3195)
“Payment Systems Department” Etab Mohamed (phone
16777, ext. 3244)

Address 1 10 Talaart Harb Street

Address 2 Evergreen Tower—Fifteenth Floor
Address 3 Cairo, Egypt 11522
Contact Name Mr. Hesham Fathy
Contact Title Settlement and Dispute Resolution Manager
Contact email h.fathy@egyptianbanks.net
Both
Time
Settlement is completed by the central bank through book
transfer. Therefore, participating customers in a net debit
position must ensure that sufficient funds are available to
complete the daily settlement with Mastercard.
Mastercard Settlement Agent Participating customers must contact the Egyptians Banks Co.
Required Documents for Technological Advancement, S.A.E. and obtain the central
bank’s authorization letter. Customers must print the content
of the authorization letter on their financial institution’s
letterhead. They must complete the letter and send the
original form to the central bank’s Banking Operations Sector.
A copy of the authorization letter must be sent to the central
bank’s Payment Systems Department and to the Egyptian
Banks Co. for Technological Advancement, S.A.E.
Mastercard recommends that customers contact the central
bank to make sure authorization letter is accepted.


Gambian Dalasi—ME00027001
Mastercard Required Documents After the required authorization letter required by the
Mastercard Settlement Agent, above, is accepted by the
central bank, send an email message to
khaled_eltayar@mastercard.com and
viswanathan_mohan@mastercard.com.
Special Rules for Settlement The Egyptian Banks Co. for Technological Advancement,
S.A.E. and the Central Bank of Egypt complete settlement
through the customer’s central bank account.
by Mastercard.
Gambian Dalasi—ME00027001
licensed by Mastercard to conduct business in Gambia.
Currency Code GMD—270

Country Gambia
Settlement Agent Ecobank Gambia
Address 1
Address 2
Address 3
Address 4
Contact Name Haddy Jagne
Contact Title
Contact Phone
Contact Fax
Contact Email hjagne@ecobank.com
Settlement Holiday Rules This service follows the Central Bank of Gambia holiday
calendar.

Georgian Lari—EU00098101

Both
Time
Required Documents
account with Ecobank Gambia.
Mastercard Enabled Criteria Transaction Currency = GMD—270
by Mastercard.
licensed by Mastercard to conduct business in Georgia.
Currency Code GEL—981

Country Georgia
Settlement Agent National Bank of Georgia
Address 1 Sanapiro 2, 0114
Address 2 Tbilisi
Address 3 Georgia
Contact Name Nino Mushkudiani

Contact Title Senior Specialist of the Payment Systems Department

Contact Phone +995 32 406441
Contact Fax +995 322 406577
Contact Email nino.mushkudiani@nbg.gov.ge
Both
Time
that sufficient funds are available to complete the daily
Mastercard settlement obligation.
Mastercard Settlement Agent Each direct participating customer is required to complete an

Required Documents agreement with National Bank of Georgia before participating
in the Mastercard settlement service. Contact the National
Bank of Georgia for assistance in completing the forms.
the settlement agent at the address listed. Customers with
multiple ICA numbers must consolidate all activity into one
transfer agent position.
Mastercard Required Documents Participating customers are required to send a completed
Member SWIFT BIC Authorization Form (Form 947) to
Mastercard. The participating customer’s SWIFT Bank Identifier
Code (BIC) is used by the National Bank of Georgia as the
identifier for settlement.
Participating customers should send their completed form(s)
to the Mastercard Customer Implementation Services team.
Mastercard Enabled Criteria Transaction Currency = GEL—981

Special Rules for Settlement Settlement is completed by the National Bank of Georgia
through book transfer.

Ghanaian Cedi—ME00093601
by Mastercard.
Ghanaian Cedi—ME00093601
licensed by Mastercard to conduct business in Ghana.
Currency Code GHS—936

Country Ghana
Settlement Agent Ghana Interbank Payment and Settlement Systems (GhIPSS)
Address 1 PMB 121 GPO Accra
Address 2 Ghana
Address 3 Attn: Archic Hesse
Contact Name Ademola Adetunji
Contact Title Head, Card Operations
Contact Phone +233 3020610780, +233 244721620, +233 268749001
Contact Fax +233302671757
Contact Email aademola@ghipss.com
Secondary Contact Name Kwadwo NTIM
Secondary Contact Title +2333020610780, +233 244 233502
Secondary Contact Phone +233302671757
Secondary Contact Email kntim@ghipss.com
Both
Time
Designated Local Time for Debits 13:00 GMT
Designated Local Time for Credits 13:00 GMT

Guatemalan Quetzal—LA00032001

that there are sufficient funds in their Central Bank of Ghana
account to complete the daily settlement with Mastercard
Mastercard Settlement Agent Participating customers must complete a “Settlement Service

Required Documents Agreement” with GhIPSS to participate in the Ghana
intracurrency settlement service. The completed agreement
grants GhIPSS the authority to debit the customer’s account to
complete Mastercard settlement. The Settlement Service
Agreement is provided and submitted to GhIPSS.

Mastercard Enabled Criteria Transaction Currency = GHS—936
Special Rules for Settlement Settlement is completed by the Central Bank of Ghana
through the Ghana Interbank Payment and Settlement System
(GhIPSS) transfer
by Mastercard.
Guatemalan Quetzal—LA00032001
licensed by Mastercard to conduct business in Guatemala.
Currency Code GTQ—320

Country Guatemala
Settlement Agent Banco de America Central S.A. (BAC)
Address 1 7 Avenida 6-26 zona 9

Guinean Franc—ME00032401
Address 2 Edificio El Roble 4 nivel

Address 3 Guatemala
Both
Time
Required Documents
Mastercard's settlement agent at the address listed.

by Mastercard.
licensed by Mastercard to conduct business in Guinea.
Currency Code GNF—324

Country Guinea

Settlement Agent Ecobank Guinea Conakry

Address 1
Address 2
Address 3
Address 4
Contact Name Diallo Boubacar
Contact Title
Contact Phone
Contact Fax
Contact Email dboubacar@ecobank.com
Settlement Holiday Rules This service follows the Central Bank of Burundi holiday
calendar.
Both
Time
Required Documents
account with Ecobank Guinea Conakry.
Mastercard Enabled Criteria Transaction Currency = GNF—324
by Mastercard.

Haitian Gourde—LA00033201
Haitian Gourde—LA00033201
licensed by Mastercard to conduct business in Haiti.
Currency Code HTG—332

Country Haiti
Settlement Agent Banque de la République d’Haiti (Central Bank of Haïti)
Address 1 Angle rues Pavée et du Quai
Address 2 Port au Prince
Address 3 Haiti
Contact Name Karl Didier Remarais
Contact Title Deputy Director Cash and Payment Department
Contact Email karl.remarais@brh.ht or sba-mc@brh.ht
Both
Time
Required Documents
Special Rules for Settlement Settlement is completed by the Central Bank of Haiti via book
transfer. Therefore, a participating customer in a net debit
position is responsible to ensure that there are sufficient funds
in its Central Bank of Haiti account to complete the daily
settlement with Mastercard.

Honduran Lempira—LA00034001
by Mastercard.
Honduran Lempira—LA00034001
licensed by Mastercard to conduct business in Honduras.
Currency Code HNL—340

Country Honduras
Settlement Agent Banco De America Central, S.A. (BAC)
Address 1 Blvd. Morazan
Address 2 Contiguo a Domino’s Pizza, casa No. 2117
Address 3 Tegucigalpa, Honduras
Contact Name Mr. Mario Gadiel Varela
Contact Title Interchange Officer
Contact Phone 1-504 206-7200, extension 1549
Contact Fax 1-504 231-1108
Both
Time
Required Documents


by Mastercard.

licensed by Mastercard to conduct business in Hong Kong.
Country Hong Kong
Settlement Agent Hong Kong InterBank Clearing, Ltd. (HKICL). Note: HKICL is
the operational entity of the Central Bank, therefore
settlement is considered effected through the central bank or
in central bank funds.
Address 1 The General Manager
Address 2 Room 2001, Bank of America Tower
Address 3 12 Harcourt Road, Central, Hong Kong
Contact Name Ms. Ann Kwan
Contact Title Senior Manager, Payment Systems Operation
Contact Phone (852) 2878 1283
Contact Fax (852) 2878 8725
Contact Email ann_yf_kwan@hkma.gov.hk
Both


Time
All participating customers must execute a direct-debit
authorization through Hong Kong Monetary Authority
(HKMA) and establish a direct-upper limit for the auto-
debiting of the customer’s reserve account.
Mastercard Settlement Agent Direct-debit authorization agreement between participating

Required Documents and HKMA must be completed.
Settlement Account Requirements Participating customers must be participants of and use their
reserve account at HKMA as the settlement account. Non-
HKMA customers must identify a transfer agent that is an
HKMA participant through which to settle.
customer’s live date.
Mastercard must receive confirmation from HKMA that the
customer has been set up in its (the HKMA) system.

Special Rules for Settlement Special settlement procedures are needed to delay settlement
in the event of typhoon or “black rain.”
by Mastercard.
licensed by Mastercard to conduct business in Hungary.
Currency Code HUF—348

Country Hungary
Settlement Agent Magyar Nemzeti Bank (the Central Bank of Hungary)
Address 1 1850 Budapest
Address 2 Szabadsag 8-9
Address 3 Hungary
Contact Name Zsuzanna Varga
Contact Phone 36-1-428-2600 ext. 3227
Contact Email bmfviber@mnb.hu
Both
Time
Mastercard Settlement Agent Magyar Nemzeti Bank requires that all participating customers
Required Documents complete and sign the agreement “Teljesítési Megállapodás”
(“Settlement Agreement”) before participating in this service.
Please contact Zsuzanna Varga at Magyar Nemzeti Bank to
obtain a copy of the agreement.
the settlement agent at the address listed.
Mastercard Settlement Agent Settlement is completed by the Magyar Nemzeti Bank through
Approval Requirements book transfer.
Mastercard Enabled Criteria Transaction Currency = HUF—348
by Mastercard.

Icelandic Krona—EU00035202
Icelandic Krona—EU00035202
licensed by Mastercard to conduct business in Iceland.
Currency Code ISK—352

Country Iceland
Settlement Agent Central Bank of Iceland
Contact Name SÍ Salome R. Birgisdóttir
Contact Title Head of Back Office
Contact Email salome.r.birgisdottir@sedlabanki.is
Both
Time
Mastercard Settlement Agent Participating customers are required to complete an
Required Documents agreement with the Central Bank of Iceland before going live.
Customers should contact the Central Bank to obtain the
necessary agreement before submitting an NSIF:
Central Bank of Iceland
C/O SÍ Salome R. Birgisdóttir
Kailkofnsvegi 1, 150 Reykjavik
Mastercard Enabled Criteria Transaction Currency = ISK—352

Indian Rupee—AP00035601
Special Rules for Settlement This service is limited to domestic transactions that originate in
the Icelandic krona between a merchant based in Iceland and
an issuer licensed in Iceland. Transactions processed in any
other currency settle to each party’s respective regional
settlement service.
Settlement is completed by the Central Bank through book
position must ensure that there are sufficient funds in their
Central Bank account to complete the daily settlement with
Mastercard.
by Mastercard.
Indian Rupee—AP00035601
licensed by Mastercard to conduct business in India.
Currency Code INR—356

Country India
Settlement Agent Bank of India, Overseas Banking Branch
Address 1 Mezzanine Floor
Address 2 70-80, M.G. Road Fort
Address 3 Mumbai—400 001, India
Both
Settlement Service Cutoff in St. Louis, 00:000
Designated Local Time for Debits Check with Settlement Agent
Designated Local Time for Credits Check with Settlement Agent

Indonesian Rupiah—AP00036001

Participating customers must provide the settlement agent
with written authorization to debit or credit their settlement
accounts.

Required Documents
the Mastercard settlement agent at the address listed.
Special Rules for Settlement Mastercard must repay demands for overdraft within 15 days
of a written request.
amount according to ICA number on the value date. Failure to
settle on the value date may result in a delay or non-
processing of settlement for all participants. Customers that
fail to settle may be liable for loss of use of funds by other
participating customers in addition to assessments of
noncompliance fees by Mastercard.
licensed by Mastercard to conduct business in Indonesia.

Country Indonesia
Settlement Agent JP Morgan Chase, Jakarta
Address 3
Contact Phone (6221) 52918660


SWIFT ID CHASIDJX
Both
Time
Required Documents
Settlement Account Requirements Account must be held within the country of Indonesia and
owner must be a participating customer at the Bank of
Indonesia (central bank account).
Special Rules for Settlement Settlement is effected through the Bank Indonesia Real Time
Gross Settlement (BI-RTGS) system for which interbank
obligations are effected through the account designated by
the participating customer at the Bank Indonesia (central bank
account).
by Mastercard.
This settlement service applies to domestic debit card-present transactions acquired by the
National Payment Gateway (NPG) switching institutions (NPG Debit Transactions) licensed by

the Central Bank of Indonesia (BI). All other domestic transactions settle via the intracurrency
settlement service—AP00036001.

Country Indonesia
Settlement Agent JP Morgan Chase Bank, Indonesia
Address 3
Address 4
Contact Title
Contact Phone (6221)-52918660
Contact Fax
Settlement Holiday Rules This settlement service is offered in accordance with the
holiday calendar published by the Central Bank of Indonesia
(BI) from time to time.
Single Message, Dual Message, or Single
Both
Time
Required Documents
Settlement Account Requirements Customers that participate in this settlement must reside in
the country of Indonesia. Customers participating in this
service must comply with the Central Bank of Indonesia’s (BI)
rules and requirements.

Jamaican Dollar—LA00038801

Mastercard Enabled Criteria Transaction Currency = IDR—360
by Mastercard.
Jamaican Dollar—LA00038801
licensed by Mastercard to conduct business in Jamaica.
Currency Code JMD—388

Country Jamaica
Settlement Agent National Commercial Bank Jamaica Limited
Address 1 “The Atrium”
Address 2 32 Trafalgar Road
Address 3 Kingston 10, Jamaica
Both
Time
Designated Local Time for Debits Check with Settlement Agent
Designated Local Time for Credits Check with Settlement Agent
Participating customers must provide the settlement agent
with written authorization to debit or credit their settlement
accounts and must also notify Mastercard of such
arrangement.
Mastercard Settlement Agent The Debit/Credit Authorization Agreement must be completed

Required Documents between the participating customer and the Mastercard
settlement agent.

Mastercard Required Documents The customer must notify Mastercard of the Debit/Credit
Authorization Agreement completed with the Mastercard
settlement agent.
by Mastercard.
licensed by Mastercard to conduct business in Japan that also have a resident account.

Country Japan
Settlement Agent Bank of America NA, Tokyo Branch
Address 1 Nihonbashi 1-chome Mitsui Building, 1-4-1
Nihonbashi
Address 2 Chuo-ku, Tokyo 103-0027, JAPAN
Contact Name Client Service
Contact Phone 81-3-6758-5155 (09:00 – 18:00 Tokyo, Japan
time)
Contact Fax 81-3-6758-5068
Contact E-mail asia.sse-jp@bankofamerica.com
Single Message, Dual Message, or Both Dual Message Only

Settlement Service Cutoff in St. Louis Time Sunday–Thursday at 10:30 a.m.

Value dates are Monday–Friday business days in
Japan.
Note that due to time zone differences,
settlement in the St. Louis time will not occur the
day before a holiday in Japan. For example, a
Monday holiday in Japan will result in no
settlement positions created on Sunday St. Louis
time.
Designated Local Time for Debits 14:00 (local Tokyo, Japan time)
Designated Local Time for Credits 14:00 (local Tokyo, Japan time)
Direct Debit Availability Direct Debit only available if customer account is
held at Bank of America NA, Tokyo Branch
Mastercard Settlement Agent Required Customers that have accounts at the settlement
Documents agent (Bank of America NA, Tokyo Branch) must
contact Bank of America Tokyo to complete a
required paper work to setup their own CPO ID
and receive the CPO Primary Admin training. This
process can take up to 12 business days.
Customers must ensure there are adequate funds
in the account to satisfy the settlement position.
Settlement Account Requirements Customers that want to participate in this
intracurrency settlement service must have a
resident account in Japan. Customers with a
resident account held at Japanese banks other
than the settlement agent (Bank of America NA,
Tokyo Branch) must provide their Zengin code,
account type, and bank name in the Japanese
Language.
Mastercard Settlement Agent Approval Mastercard is required to notify the settlement
Requirements agent in writing at least 15 business days before
the new participatingcustomer’s scheduled live
date.
Mastercard Required Documents Customers with accounts held at Bank of America
NA, Tokyo Branch must submit a MasterCard 336
- Debit Authorization Letter.

Special Requirements for Mastercard When completing the Net Settlement Information
Form (NSIF), ensure the below information is
provided as indicated.
For accounts not held at Bank of America NA,
Tokyo Branch, provide Zengin Code (7 digits max
= Zengin bank code/4 digits + Zengin branch
code/3 digits) in NSIF Field 'Bank Code or Other'.
Enter bank name in Japanese language and
account type in the NSIF Comment Section.
Account type should be specified as one of the
three below:
"CACC" = Commercial/Checking Account
"SVGS" = Saving Account
"MOMA" = Money Market
Customers in Japan that opt to use the
Mastercard Network for Japan Domestic
Switching with Japan Payment Options must be
prepared to support the impacts to the settlement
date as described in the following table:
Description Settlement Date Impact

Single Payment Settlement date will be the
next settlement cutoff after
the transaction is cleared.
Bonus Payment If clearing processing date is
July 21 to December 20 then
settlement date is December
20.
If clearing processing date in
December 21 to July 20 then
settlement date is July 20.
Installments 50% of the transaction

(Twice Pay) amount is settled following
the next settlement cut-off
after the transaction is
cleared.
50% of the transaction
amount is settled based on
clearing date +30 calendar
days (final settlement date is

Jordanian Dinar—ME00040001
Description Settlement Date Impact

adjusted based on the local
settlement holiday calendar).
More Japan Payment Option details can be found

in the Release 17.Q1 article “AP 531—Japan
Payment Options Enhancements.”
Customer Settlement Failure Customers with accounts at Bank of America NA,

Tokyo Branch must ensure adequate funds are in
the account to satisfy the settlement position.
Customers with accounts not held at the
MasterCard settlement agent, in a net debit
position, will be responsible for paying to
Mastercard's account at Bank of America NA,
Tokyo Branch.
Failure to settle on the value date may result in a
delay or non-processing of settlement for all
participants. Customers that fail to settle may be
liable for loss of use of funds by other
participating customers in addition to assessments
of noncompliance fees by Mastercard.
licensed by Mastercard to conduct business in Jordan.
Currency Code JOD—400

Country Jordan
Address 1 4th Floor, Main Branch
Address 2 Buildng # 2, Al-Thaqafa Street
Address 3 Shmeissani, Amman 11110
Address 4 Hashemite Kingdom of Jordan
Contact Name Zaid Sweiss
Contact Fax +962 6 5624347
Contact Email mailto:Straight2Bank.jo@sc.com

Account Name Mastercard

SWIFT ID SCBJOAXX
IBAN Number J068SCBL1220000000001391207901
Both
Time
Required Documents
Settlement Account Requirements Customers choosing to participate in this settlement service
must have an account at a financial institution within country
that participates in the local Real Time Gross Settlement
(RTGS) system and can settle in Jordanian Dinar.
The IBAN Number is required for all participating customers.

Mastercard Enabled Criteria Transaction Currency = JOD—400
Special Rules for Settlement This Jordan domestic settlement service is for domestic
transactions only. Domestic customers must participate in the
domestic service.
by Mastercard.

Kazakhstan Tenge—EU00039801
Kazakhstan Tenge—EU00039801
licensed by Mastercard to conduct business in Kazakhstan.
Currency Code KZT—398

Country Kazakhstan
Settlement Agent Kazakhstan Interbank Settlement Centre of National Bank of
the Republic of Kazakhstan
Address 1 21 Koktem-3
Address 2 Almaty 050040
Address 3 Republic of Kazakhstan
Contact Name Nina Mukazhanova
Contact Title Lead Economist of Payment Systems Development
Department
Contact Phone 7 727 2506572
Contact Fax 7 727 2506611
Contact Email mukazhanova.n@kisc.kz
Both
Time
Mastercard Settlement Agent The settlement agent must obtain from each participating
Required Documents customer the authority to debit or credit each customer’s
settlement account (or both if applicable) to effect settlement.

Kenyan Shilling—ME00040401
Mastercard Enabled Criteria Transaction Currency = KZT—398

Special Rules for Settlement The Kazakhstan Interbank Settlement Centre of National Bank
of the Republic of Kazakhstan (KISC) settles only one position,
per account, per day.
by Mastercard.
Kenyan Shilling—ME00040401
licensed by Mastercard to conduct business in Kenya.
Currency Code KES—404

Country Kenya
Address 1 48 Westlands Road
Address 2 Nairobi, Kenya P.O. Box 30003-00100 GPO
Address 3 Nairobi
Contact Email mailto:Straight2Bank.ke@sc.com
Account Name Mastercard East Africa Limited
SWIFT ID SCBLKENX
Both
Time

Lebanese Pound—ME00042201

Required Documents
Settlement Account Requirements Customers choosing to participate in this settlement service
must have an account at a financial institution within country
that participates in the local Real Time Gross Settlement
(RTGS) system and can settle in Kenyan Shilling.

Mastercard Enabled Criteria Transaction Currency = KES—404
Special Rules for Settlement This Kenya domestic settlement service is for domestic
transactions only. Domestic customers must participate in the
domestic service.
by Mastercard.
licensed by Mastercard to conduct business in Lebanon.
Currency Code LBN—422

Country Lebanon
Settlement Agent Central Bank of Lebanon, Banque du Liban
Address 1 Banque Du Liban Street—Hamra
Address 2 P.O. Box 11-5544
Address 4 Beirut, Lebanon
Contact Name Mr. Ramzi Hamadeh
Contact Title Senior Director—Head of Payment Systems Department

Contact Phone 961 (1) 343317

Contact Fax 961 (1) 750420
Contact Email rhamadeh@bdl.gov.lb
Both
Time
Mastercard Settlement Agent Customers must complete the Mandate to Operate an
Required Documents Account form and send the signed document to Banque du
Libon before submitting an NSIF to Mastercard. A copy of the
signed form should be sent to Mastercard as evidence of
completion. The form is attached as an Annex to the BDL
Decision and can be obtained from the following link: http://
www.bdl.gov.lb/circ/circpdf/109.pdf or by contacting Banque
du Libon as previously indicated.

Mastercard Required Documents Participating customers must provide a copy of the signed
Mandate to Operate an Account form to Mastercard as
evidence of completion.
Mastercard Enabled Criteria Transaction Currency = LBN—422

Lebanese United States Dollar—ME00084001
Special Rules for Settlement Lebanon Basic Decision 9668 (BDL Decision) requires
settlement of all point-of-sale activity to be conducted
through the deposit accounts held by participating customers
on the books of BDL. Customer participation is mandatory,
and customers must use their nine-digit accounts held at BDL
for settlement in both services.
Banque du Liban is the transfer agent bank for all customers.
Banqu du Liban interbank payment system requires that all
settlement amounts be rounded to whole amounts. In
addition, all customer net settlement positions must net to
zero.
Mastercard calculates the net settlement positions for each
customer based on the following rules:
• Fractional amounts from .00 to .49 round down to .00.
Example: 575.40 rounds to 575.00
• Amounts from .50 to .99 round up to .00. Example:
575.80 rounds to 576.00
• In addition to the above rules, the customer with the
largest debit position is rounded up or down to help
ensure that all credits equal all debits for the daily
settlement.
• Settlement advisements and clearing records do not reflect
the rounded settlement positions and include all fractional
amounts.
by Mastercard.

licensed by Mastercard to conduct business in Lebanon.

Country Lebanon
Settlement Agent Central Bank of Lebanon, Banque du Liban
Address 1 Banque Du Liban Street—Hamra


Address 4 Beirut, Lebanon
Contact Name Mr. Ramzi Hamadeh
Contact Title Senior Director—Head of Payment Systems Department
Contact Phone 961 (1) 343317
Contact Fax 961 (1) 750420
Contact Email rhamadeh@bdl.gov.lb
Both
Time
Mastercard Settlement Agent Customers must complete the Mandate to Operate an
Required Documents Account form and send the signed document to Banque du
Libon before submitting an NSIF to Mastercard. A copy of the
signed form should be sent to Mastercard as evidence of
completion. The form is attached as an Annex to the BDL
Decision and can be obtained from the following link: http://
www.bdl.gov.lb/circ/circpdf/109.pdf or by contacting Banque
du Libon as previously indicated.

Mastercard Required Documents Participating customers must provide a copy of the signed
Mandate to Operate an Account form to Mastercard as
evidence of completion.
Mastercard Enabled Criteria Transaction Currency = USD—840

Liberian United States Dollar—ME00084003
Special Rules for Settlement Lebanon Basic Decision 9668 (BDL Decision) requires
settlement of all point-of-sale activity to be conducted
through the deposit accounts held by participating customers
on the books of BDL. Customer participation is mandatory,
and customers must use their nine-digit accounts held at BDL
for settlement in both services.
by Mastercard.
Liberian United States Dollar—ME00084003

licensed by Mastercard to conduct business in Liberia.

Country Liberia
Settlement Agent Ecobank Liberia
Address 1
Address 2
Address 3
Address 4
Contact Name Christiana N.B Kojo
Contact Title
Contact Fax
Contact Email ckojo@ecobank.com
Settlement Holiday Rules This service follows the Central Bank of Liberia holiday
calendar.
Both

Macedonian Denar—EU00080701

Time
Required Documents
account with Ecobank Liberia.
by Mastercard.
licensed by Mastercard to conduct business in Macedonia.
Currency Code MKD—807

Country Republic of Macedonia
Settlement Agent National Bank of the Republic of Macedonia
Address 1 Kompleks bank b.b.
Address 2 1000 Skopje
Address 3 Republic of Macedonia
Contact Name Vladimir Ristik
Contact Title Director of Payment Systems Department
Contact Phone 389 2 3108 319

Contact Email ristikv@nbrm.gov.mk

Both
Time
Direct Debit Availability
Required Documents
Settlement Account Requirements Participating customers must have an account in the
Macedonia Interbank Payment System (MIPS).

Mastercard Required Documents Participating customers are required to send a completed
Member SWIFT BIC Authorization Form (Form 947) to
Mastercard. The participating customer’s SWIFT Bank Identifier
Code (BIC) is used as the identifier for settlement.
Mastercard Enabled Criteria Transaction Currency = MKD—807
Special Rules for Settlement MIPS requires that all settlement amounts be rounded to
whole amounts. In addition, all customer net settlement
positions must net to zero.
Therefore, Mastercard calculates the net settlement positions
for each customer based on the following rules:
• Fractional amounts from .00 to .49 round down to .00
• Example—575.20 rounds to 575.00
• Amounts from .50 to .99 round up to .00
• Example—575.80 rounds to 576.00
Mastercard does not round any other amounts including
those provided on the settlement advisement.

Malaysian Ringgit—AP00045801
by Mastercard.
Malaysian Ringgit—AP00045801
licensed by Mastercard to conduct business in Malaysia.
Currency Code MYR—458

Country Malaysia
Settlement Agent JP Morgan Chase, Kuala Lumpur
Address 1 Level 18, Integra Tower, The Intermark
Address 2 348, Jalan Tun Razak
Address 3 Kuala Lumpur 50400
Address 4 Malaysia
Contact Name C.B. Tan
Contact Phone (603) 2718-0798
Contact Fax (603) 2163-5370
SWIFT ID CHASMYKS2XX
IBAN Number N/A
Both
Time

Mauritius Rupee—ME00048001

Required Documents
Special Rules for Settlement Overdrafts in the settlement account are to be covered by a
Mastercard “master” account held at JPMorgan Chase.
Settlement is effected through the Real Time Electronic
Transfer of Funds and Securities (RENTAS-RTGS) system for
which interbank obligations are effected through the account
designated by the participating customer at the Bank Negara
Malaysia (central bank account).
by Mastercard.
Mauritius Rupee—ME00048001
licensed by Mastercard to conduct business in Mauritius.
Currency Code MUR—480

Country Mauritius
Settlement Agent The Mauritius Commercial Bank Limited
Address 1 Sir William Newton Street
Address 2 Port Louis, Mauritius
Contact Name Binesh Mangar
Contact Title Head of Cards SBU
Contact Phone 230 2026119
Contact Fax 230 2125080

Contact Email binesh.mangar@mcb.co.mu

Both
Time
Direct Debit Availability Not available
Required Documents
Special Rules for Settlement Overdrafts in the settlement account are to be repaid by
Mastercard upon demand or by no later than two business
days following the posting of such overdraft with interest at a
rate equal to the prevailing rate charged by the settlement
agent.
by Mastercard.
licensed by Mastercard to conduct business in Mexico.
Currency Code MXN—484

Country Mexico

Settlement Agent Banco Nacional de Mexico (Banamex)

Contact Email citiservice@banamex.com
Both
Settlement Service Cutoff in St. Louis 09:15. Refer to “Special Rules for Settlement” later in this
Time table.
Required Documents
Settlement Account Requirements All customers must use their 18-digit Clave Bancaria
Estandarizada (CLABE) number. The CLABE format is as
follows:
• Bank Code (three numeric positions)
• Branch Office Code (three numeric positions)
• Account Number (11 numeric positions)
• Control Digit (one numeric position)

Special Rules for Settlement If any customer requires additional time to submit clearing
activity for processing, Mastercard may delay the settlement
service cutoff time to a later time but not later than 11 a.m.
CST.
by Mastercard.

Moldovan Leu—EU00049801
Moldovan Leu—EU00049801
licensed by Mastercard to conduct business in Moldova.
Currency Code MDL—498

Country Republic of Moldova
Settlement Agent National Bank of Moldova
Address 1 1 Grigore Vieru Avenue
Address 2 Chisinau
Address 3 Republic of Moldova
Address 4 MD-2005
Contact Name Igor Munteanu
Contact Title Director of Payment Systems Department
Contact Phone 373-22-409-006 or +373 22 409 610
Contact Fax +373 22 213 086
Contact Email official@bnm.md
Both
Time
Mastercard Settlement Agent Participating customers must contact the National Bank of
Required Documents Moldova (NBM) to obtain a copy of Authorization Letter
confirming its participation in the Mastercard Settlement
Service for settlement of domestic Mastercard® transactions.
This letter authorizes and instructs the NBM, which acts as a
settlement agent, to automatically debit or credit its
settlement account held at the NBM. This is according to the
net settlement amounts as communicated by Mastercard in a
settlement instruction submitted to the NBM on each
settlement processing date in relation to Mastercard
Settlement Service (MSS).

Moroccan Dirham—ME00050401
Mastercard Required Documents New participants must submit the completed Service
Agreement between themselves asnd the settlement agent to
Mastercard along with the NSIF.
Mastercard Enabled Criteria Transaction Currency = MDL—498
by Mastercard.
Moroccan Dirham—ME00050401
licensed by Mastercard to conduct business in Morocco.
Currency Code MAD—504

Country Morocco
Settlement Agent Bank Al-Maghrib (Central Bank of Morocco)
Contact Name Elminaoui Hicham
Contact Title Superviseur du SRBM
Contact Phone 0537 57 42 53
Contact Fax 0537 57 42 15
Contact Email srbm@bkam.ma
Both
Settlement Service Cutoff in St. Louis 03:00 CST
Time
Designated Local Time for Debits 05:30 CST

Nepalese Rupee—AP00052401
Designated Local Time for Credits 05:30 CST

Mastercard Settlement Agent Debit Authorization Letter (Form 336)
Required Documents
Settlement Account Requirements A participating customer must hold an account at Bank Al-
Maghrib.
customer’s scheduled live date. Mastercard must also provide
a copy of the Debit Authorization Letter (Form 336) to the
settlement agent.
Mastercard Required Documents Participating customers must provide Mastercard with their
BIC code. The BIC code can be provided on the last page of
the online Net Settlement Information Form (NSIF) under the
section titled, “Bank Code or Other.”
Special Rules for Settlement Customers must ensure accounts are funded accordingly for
daily settlement by 11:30 Rabat Time for successful processing
of settlement.
by Mastercard.
licensed by Mastercard to conduct business in Nepal.
Currency Code NPR—524

Country Nepal
Address 1 Madan Bhandari Marg Naya Baneshwor, Ward No. 34
Address 2 Kathmandu, HONB NB Bldng, 1F
Address 3 ZIP: 3990, Kathmandu

Address 4
Contact Name Rajkamal Basnet
Contact Title
Contact Phone +977 1 4782333, extension 189
Contact Fax
Contact Email RAJKAMAL.BASNET@sc.com
Settlement Holiday Rules This service follows the Standard Chartered Nepal Bank Ltd.
holiday calendar.
Both
Time
Required Documents
account with Standard Chartered Bank’s Head Office in
Kathmandu.
Mastercard Enabled Criteria Transaction Currency = NPR—524
by Mastercard.


licensed by Mastercard to conduct business in New Zealand.

Country New Zealand
Settlement Agent Bank of New Zealand
Address 1 60 Waterloo Quay, Pipatea
Address 2 Wellington, New Zealand 6011
Contact Name Andrea M McGarry
Contact Title Team Leader, Processing & Support
Contact Phone +64 (4) 474-9359
Contact Email Andrea_McGarry@bnz.co.nz
Both
Time
Required Documents
Settlement Account Requirements Participating customers with accounts held within the country
of New Zealand must include the six-character Bank Branch
Special Rules for Settlement Overdrafts in the settlement account are to be repaid by
Mastercard upon written demand with interest at a rate equal
to the prevailing rate charged by the settlement agent.

Nicaraguan Cordoba—LA00055801
by Mastercard.
Nicaraguan Cordoba—LA00055801
licensed by Mastercard to conduct business in Nicaragua.
Currency Code NIO—558

Country Nicaragua
Settlement Agent Banco De America Central, S.A. (BAC)
Address 1 Centro BAC
Address 2 KM. 4.5 Carretera Masaya
Address 3 Managua, Nicaragua
Contact Name Mr. Rafael Ramirez
Contact Title International Department Manager
Contact Phone 1-505 274-4648
Contact Fax 1-505 274-4406
Contact Email rafaelra@bac.com.ni
Both
Time
Required Documents

Nigerian Naira—ME00056601

by Mastercard.
Nigerian Naira—ME00056601
licensed by Mastercard to conduct business in Nigeria.
Currency Code NGN—566

Country Nigeria
Settlement Agent Nigerian Inter-Bank Settlement System Plc. (NIBSS)
Address 1 Plot 1230 Ahmadu Bello Way
Address 2 Victoria Island
Address 3 Lagos, Nigeria
Contact Name Mr. Niyi Ajao
Contact Title General Manager, Operations
Contact Phone +234-1-27160788
Contact Email najao@nibss-plc.com
Both
Time

Pakistan Rupee—ME00058601

Participating customers must send a letter to NIBSS
authorizing NIBSS to debit their settlement account based on
the Mastercard settlement advisement.
Settlement Agent Required Debit Authorization Agreement and Mastercard Settlement

Documents Participation Letter. Forms should be completed between the
participating customer and NIBSS.

Mastercard Required Documents Participating customers must sign a letter that they
acknowledge and accept that in the event that any
participating customer fails in its obligation to settle Local
Transactions, Mastercard shall not be obligated to pay such
funds on such failed Participating Customer’s behalf, as would
otherwise be required in the Mastercard Rules manual. Letters
can be obtained from the local Nigerian office, contact your
account representation for an example of the
acknowledgment letter.
Mastercard Enabled Criteria Transaction Currency = NGN—566
by Mastercard.
licensed by Mastercard to conduct business in Pakistan.
Currency Code PKR—586

Country Pakistan

Settlement Agent Faysal Bank Limited

Address 1 Faysal House, ST-02,
Address 2 Main Shara-e-Faisal, Karachi
Contact Name Muhammad Nasir
Contact Title Manager, Card Financial Operations
Contact Email muhammad.nasir@faysalbank.com
Both
Time
Required Documents
State Bank of Pakistan.

Mastercard Required Documents Participating customers must complete a Debit Authorization
Letter (Form 336) providing Mastercard with the authority to
debit their account at the State Bank. This form is available on
Mastercard Connect™.
Mastercard Enabled Criteria
Special Rules for Settlement Participating customers must provide their institution’s SWIFT
BIC on the Net Settlement Information Form (NSIF) for
settlement.
Settlement is completed by the State Bank through
simultaneous debit and credit of each respective participating
customer’s account between 13:00 and 17:30 local time.
Therefore, participating customers in a net debit position must
ensure there are sufficient funds in their State Bank account
to complete the daily settlement with Mastercard.

Paraguayan Guarani—LA00060001
by Mastercard.
Paraguayan Guarani—LA00060001
licensed by Mastercard to conduct business in Paraguay.
Currency Code PYG—600

Country Paraguay
Settlement Agent Citibank N.A. Sucursal Paraguay
Address 1 Av. Mcal. López 3794 esq. Cruz del Chaco
Address 2 Asunción, PARAGUAY
Address 3
Address 4
Contact Name Sonia González
Contact Title Vicepresident—Treasury & Trade Solutions
Contact Phone (595 21) 620 2522
(595 981) 704 109
Contact Email sonia.gonzalez@citi.com

Both
Time
Mastercard Settlement Agent Participating customers must complete a Debit Authorization
Required Documents Letter (Form 336) when opening an account with Citibank
Paraguay.

Peruvian Nuevo Sol—LA00060401
Settlement Account Requirements Customers must set up a bank account with Citibank N.A.
Sucursal Paraguay as Citibank initiates book transfers to settle
all intracurrency settlement activity for the service.
by Mastercard.
Peruvian Nuevo Sol—LA00060401

licensed by Mastercard to conduct business in Peru.
Currency Code PEN—604

Country Peru
Settlement Agent Interbank
Address 1 Calle Villarau #140
Address 2 Santa Catalina
Address 3 La Victoria
Address 4 Lima, Peru
Contact Name Carlos Angulo Dalla Porta
Contact Title Gestión de Prevención del Fraude
Contact Phone 511-211-8600, extension 7612
Contact Fax 511-211-8600, extension 7136
Contact Email cangulo@intercorp.com.pe

Peruvian United States Dollar—LA00084002

Both
Time
Required Documents

by Mastercard.

licensed by Mastercard to conduct business in Peru.

Country Peru
Settlement Agent Interbank
Address 1 Calle Villarau #140
Address 2 Santa Catalina

Address 3 La Victoria
Address 4 Lima, Peru
Contact Name Carlos Angulo Dalla Porta
Contact Title Gestión de Prevención del Fraude
Contact Phone 511-211-8600, extension 7612
Contact Fax 511-211-8600, extension 7136
Contact Email cangulo@intercorp.com.pe
Both
Time
Required Documents

Mastercard Enabled Criteria Transaction Currency = USD-840
by Mastercard.

Philippine Peso—AP00060801
Philippine Peso—AP00060801
licensed by Mastercard to conduct business in the Philippines.
Currency Code PHP—608

Country Philippines
Settlement Agent JP Morgan Chase, Manila
Address 1 Corinthian Plaza, 4th Floor
Address 2 121 Paseo de Roxas
Address 3 Makati City, Philippines
Contact Name Jennifer T. Sy
Contact Title Head of Client Services—Philippines
Contact Phone 632 878 1107
Contact Fax 632 885 7928
Contact Email Philippine_CSU@jpmorgan.com
SWIFT ID CHASPHMM
Both
Time
Required Documents
Settlement Account Requirements Participating customers must hold an account within the
country of the Philippines.


Special Rules for Settlement All participating customers must settle funds through the
Philippine Payments and Settlements System (PhilpaSS), the
Philippine Real Time Gross Settlement System. Participating
customers in a net debit position will remit payments through
PhilpaSS to the Mastercard settlement account. Customers in
a net credit position will receive payment using PhilpaSS to
their designated account.
Customers in a debit position that fail to pay by 10:00 local
Philippine time may jeopardize settlement and could be
subject to noncompliance assessments.
by Mastercard.
licensed by Mastercard to conduct business in Poland.
Currency Code PLN—985

Country Poland
Settlement Agent Bank Millennium SA
Address 1 ul. Stanislaus Żaryna 2A
Address 2 02-593 WARSZAWA
Address 3 Poland
Contact Name Dorota Kiedrowska
Contact Fax +48 58 307 9801
Contact Email dorota.kiedrowska@bankmillennium.pl
Both


Time
Designated Local Time for Debits Funds must be received no later than 13:00
Mastercard Settlement Agent Customers with multiple ICA numbers must consolidate all
Required Documents activity into one transfer agent position.
Settlement Account Requirements Customers must hold an account within Poland and use a full
IBAN.
All Transfer Agents must provide to Mastercard any changes
to their physical address. Transfer Agent addresses are
required by the Settlement Agent.

Mastercard Enabled Criteria Transaction Currency = PLN—985
Special Rules for Settlement Participating customers must participate in ELIXIR and
SORBNET2 systems. Transactions over one million Polish Zloty
should be settled through SORBNET2. The settlement agent is
interfaced to KIR and NBP for funds transfer data and has
access to the Polish national payment systems ELIXIR and
SORBNET2. Participating customers must participate in both
ELIXIR and SORBNET2 systems.
If a participating customer is in a net credit position, the
settlement agent initiates funds transfer through ELIXIR or
SORBNET2 depending on the participating customer’s
connection to the national payment system. If a participating
customer is in a net debit position, the settlement agent
advises the customer of its debit positions through email or
Elixir-free format. On the value date, customers using ELIXIR
or SORBNET2 settle with the settlement agent.
by Mastercard.

licensed by Mastercard to conduct business in the United Kingdom.

Country Great Britain
Settlement Agent Deutsche Bank AG, London
Address 1 Global Transaction Banking
Address 2 Winchester House
Address 3 1 Great Winchester Street
Address 4 London EC2N 2DB
SWIFT ID DEUTGB2L
Both
Time
Designated Local Time for Debits N/A
Designated Local Time for Credits N/A
Direct Debit Availability Yes, Deutsche Bank offers direct debit for participating
customers that have their settlement account at Deutsche
Bank, Frankfurt. Deutsche Bank does not offer direct debit at
any other location.
Mastercard Settlement Agent Debit authority must be granted to Mastercard by the
Required Documents customer for direct debit to function. This debit authority
agreement must be established between customer and
Deutsche Bank, Frankfurt.
Settlement Account Requirements None

Qatari Riyal-ME00063401
Mastercard Required Documents The Debit Authorization Letter (Form 336) is required if the
account is held at Deutsche Bank, Frankfurt and the customer
is electing to enroll in direct debit.
Mastercard Enabled Criteria Transaction Currency = GBP—826
Special Rules for Settlement United Kingdom customers must follow the U.K. Domestic
Rules when settling with Mastercard. For more information,
refer to sections 1.0, 5.1, and 5.1.1 of the U.K. Domestic
Rules.
by Mastercard.
Qatari Riyal-ME00063401
licensed by Mastercard to conduct business in Qatar.
Currency Code QAR—634

Country Qatar
Settlement Agent Qatar Central Bank
Address 1 P.O. Box No. 1234
Address 2 Doha, Qatar
Contact Name Khalid Al-Kuwari
Contact Email Alkuwarik@qcb.gov.qa
Value Date Interval D+0
Both
Settlement Service Cutoff in St. Louis, 12:00 AM
Designated Local Time for Debits 3:00 PM local time
Designated Local Time for Credits 3:00 PM local time

Romanian Leu—EU00094601
Central Bank Requirements The Qatar domestic settlement service is for domestic
transactions only. Customers licensed in the country of Qatar
are mandated to participate in this Settlement service and
settle their domestic transactions in Qatari Riyal. They must
have an account at Qatar Central Bank in Doha.
Romanian Leu—EU00094601
licensed by Mastercard to conduct business in Romania.
Currency Code RON—946

Country Romania
Settlement Agent National Bank of Romania
Address 1 25 Lipscani Street, District no.3
Address 2 030031 Bucharest
Address 3 Romania
Contact Name Luiza-Diana Lucaci
Contact Title Head of ReGIS Management Division, Payments Department
Contact Phone 00 40 21 311 05 30mobile: 00 40 722 205 904
Contact Fax 00 40 21 312 61 25
Contact Email luiza.lucaci@bnro.ro
Both
Time
Required Documents

Russian Ruble—EU00064301
Settlement Account Requirements Participating customers must hold an account with the
National Bank of Romania. Accounts are 13 digits long.

customer’s scheduled live date
Mastercard Enabled Criteria Transaction Currency = RON—946
Special Rules for Settlement Article 21 of Law 312/2004 relating to the Statute of the
National Bank of Romania and Regulation Number 1/2005
issued by the National Bank of Romania state the provisions
under which settlement may occur per the provisions of
System Rules ReGIS—RTGS system.
Settlement is effected through the local RTGS system (ReGIS)
across participating customers’ reserve accounts at the
National Bank of Romania (central bank).
Overdrafts in the settlement account are to be reimbursed by
Mastercard in Romanian Leu to an account specified by the
National Bank of Romania within 28 days of the overdraft
with interest calculated using the National Bank of Romania
credit facility interest rate (Lombard rate) as published in
Reuters page BNR15 plus 3% per annum.
by Mastercard.
licensed by Mastercard to conduct business in Russia.
Currency Code RUB—643

Country Russia
Settlement Agent Central Bank of the Russian Federation


Both
Time
Designated Local Time for Debits Close of local business day
Designated Local Time for Credits Close of local business day
Mastercard Settlement Agent Participating customers must implement a supplemental
Required Documents agreement to their correspondent account agreement with
the Central Bank of the Russian Federation (CBR) before they
start using this new settlement service, providing for the
following:
• Settlement services offered by the CBR as the central
payment clearing counterparty and the settlement center.
• Performance of their obligation to ensure sufficiency of
funds on the correspondent account by 13:00 local
Moscow time of the value date.
• Their performance of the reimbursement obligation to
fund the uncovered debit position, including payment of a
fine for the uncovered debit position in the amount of the
key rate of the CBR. The CBR renders settlement services
only to participating customers having joined the National
System of Payment Cards JSC (NSPK) Operational and
Payment Clearing Rules.

Special Requirements for Participating Customer advisements are provided by NSPK through the
Customer Settlement Advisements System of Electronic Document Exchange (SEDO). The ICA
number indicated on the Net Settlement Information Form
(NSIF) is by default subscribed to advisements delivery through
the SEDO. The advisement type depends on the requested
settlement hierarchy (Transfer Agent Advisement Detail only
for primary ICA numbers, and Member Advisement Detail for
all ICA numbers). There is no need to indicate a SEDO
“address” (“endpoint number”), contact name, or both on
the NSIF. NSPK will use the SEDO destination address pre-
defined for each customer inside the SEDO. Customers that
want to view copies of their advisements using Mastercard
Connect must add their User ID(s) on the NSIF to ensure
access to the new service.

Serbian Dinar—EU00094101
Special Rules for Settlement The National System of Payment Cards JSC (NSPK) performs
functions of the operations and the payment clearing center,
with the Bank of Russia (Central Bank of the Russian
Federation [CBR]) being the settlement center and the central
payment clearing counterparty for transfers.
This service is limited to domestic transactions that originate in
the Russian ruble between an acquirer and issuer both
licensed in Russia. Transactions processed in any other
currency settle to each party’s respective regional settlement
service.
by Mastercard.
Serbian Dinar—EU00094101
licensed by Mastercard to conduct business in Serbia.
Currency Code RSD—941

Country Serbia
Settlement Agent National Bank of Serbia
Address 1 12 Kralja Petra Street
Address 2 11000 Belgrade
Address 4 Republic of Serbia
Contact Name Aleksandar Lagator
Contact Title Advisor
Contact Phone +381 11/3028 751
Contact Fax +381 11/3028 784
Contact Email aleksandar.lagator@nbs.yu
Both

Saudi Riyal—ME00068201

Time
Required Documents
Settlement Account Requirements Participating customers must use their reserve account at the
central bank as their settlement account. Non-central bank
customers must identify a transfer agent that is a central bank
customer through which to settle.

Mastercard Required Documents
Mastercard Enabled Criteria Transaction Currency = RSD—941
by Mastercard.
Saudi Riyal—ME00068201
licensed by Mastercard to conduct business in Saudi Arabia.
Currency Code SAR—682

Country Saudi Arabia
Settlement Agent Saudi Arabian Monetary Agency
Contact Email i_saleh@sama.gov.sa
Secondary Contact Email A_GHERIRY@SAMA-KSA.ORG

Sierra Leonean Leone—ME00069401

Both
Time
Designated Local Time for Debits N/A
Designated Local Time for Credits N/A
Required Documents
Settlement Account Requirements Participating customer accounts must be held within the
country of Saudi Arabia.
Mastercard Required Documents Participating customers must sign a waiver that they
acknowledge and accept that in the event that any
participating customer fails in its obligation to settle Local
Transactions, Mastercard shall not be obligated to pay such
funds on such failed Participating Customer’s behalf, as would
otherwise be required in the Mastercard Rules manual.
Contact: GSRS@mastercard.com for the form and for opening
such a project.
by Mastercard.

licensed by Mastercard to conduct business in Sierra Leone.
Currency Code SLL—694

Country Sierra Leone

Settlement Agent Ecobank Sierra Leone (ESL)
Address 1
Address 2
Address 3
Address 4
Contact Name Isha Sheriff
Contact Title
Contact Phone
Contact Fax
Contact Email ISHERIFF@ecobank.com
Settlement Holiday Rules This service follows the Central Bank of Sierra Leone holiday
calendar.
Both
Time
Designated Local Time for Debits 14:00 local Burundi time
Designated Local Time for Credits 14:00 local Burundi time
Required Documents
account with Ecobank Sierra Leone (ESL).
Mastercard Enabled Criteria Transaction Currency = SLL—694

by Mastercard.
licensed by Mastercard to conduct business in Singapore.
Currency Code SGD—702

Country Singapore
Settlement Agent JP Morgan Chase, Singapore
Address 1 168 Robinson Road
Address 2 Capital Tower
Address 3 Singapore 068912
Account Name Mastercard International Inc.
SWIFT ID CHASSGSG
Both
Time
Required Documents
Settlement Account Requirements The participating customer accounts must be held within the
country of Singapore.

Slovenian Euro—EU00097810

Special Rules for Settlement Settlement is effected through the Monetary Authority of
Singapore Electronic Payment System (MEPS-RTGS).
by Mastercard.
Slovenian Euro—EU00097810
licensed by Mastercard to conduct business in Slovenia.

Country Slovenia
Settlement Agent Bank of Slovenia
Address 1 Slovenska 35
Address 2 1505 Ljubljana
Address 3 Slovenia
Contact Name Saso Crnugelj
Contact Title Director, Payment Systems
Contact Phone +386 1 47 19 558+386 1 47 19 565
Contact Fax +386 1 47 19 722
Contact Email saso.crnugelj@bsi.si
Both
Time


Mastercard Settlement Agent All participating customers must agree to the Central Bank
Required Documents Account-Funding Mechanism Agreement.
Settlement Account Requirements Participating customers must use their reserve account at the
central bank as the settlement account. Non-central bank
customers must identify a transfer agent that is a central bank
customer through which to settle.
Special Rules for Settlement All participating customers must be customers of the Bank of
Slovenia, the central bank of Slovenia.
All participating customers must execute the Central Bank
Account-Funding Mechanism Agreement.
by Mastercard.

licensed by Mastercard to conduct business in South Africa.

Country South Africa
Settlement Agent The Standard Bank of South Africa Limited (settling through
South African Reserve Bank [SARB])
Address 1 5 Simmonds Street
Address 3 Johannesburg, South Africa

Sri Lanka Rupee—AP00014401

Both
Settlement Service Cutoff in St. Louis 03:00 (18:00—Fridays only)
Time
Mastercard Settlement Agent All participating customers must execute three copies of the
Required Documents Mastercard Service Agreement.
Settlement Account Requirements All participating customers must be participants of Payment
Association of South Africa (PASA) and customers of SARB.
Participating customers must use their reserve account at the
central bank as the settlement account.
customer’s scheduled live date. The testing requirement must
be completed before scheduling live date, otherwise, more
time is required to accommodate for such.
Special Rules for Settlement New customers must complete five consecutive days of
customer testing before a production live date can be
established.
by Mastercard.

licensed by Mastercard to conduct business in Sri Lanka.
Currency Code LKR—144

Country Sri Lanka

Settlement Agent Standard Chartered Bank—Sri Lanka
Address 2 37 York Street
Address 3 Colombo 01
Address 4 Sri Lanka
Contact Name Amal De Silva
Contact Title Head of Consumer Banking Operations
Contact Fax +94 11 2460062
Contact Email silva.amal-de@sc.com
Both
Time
Mastercard Settlement Agent Participating customers must complete all requirements with
Required Documents the Mastercard settlement agent. Participating customer
should verify all requirements have been met once account
has been established.

by Mastercard.
licensed by Mastercard to conduct business in Sweden.

Country Sweden
Settlement Agent Nordea Bank abp
Address 1 Lindhagensgatan 112
Address 4 Stockholm, Sweden 112 51
Contact Name
Contact Title
Contact Phone
Contact Email ccpm.se@nordea.com

Both
Time
Mastercard Settlement Agent The customer must contact Nordea Bank, being that this is
Required Documents the Mastercard settlement agent for the Swedish domestic
settlement in SEK. The customer must either have a direct
participation in the Swedish central bank settlement system
(RIX), or set up an arrangement with an existing participant in
the RIX system to act as its transfer agent for the RIX
Mastercard settlement.

Tajikistan Somoni—EU00097201

Mastercard Enabled Criteria None
Special Rules for Settlement Customers will use Bankgirocentralen (BGC), a Swedish
bankgiro system, to settle their net settlement positions with
Mastercard.
by Mastercard.
Tajikistan Somoni—EU00097201
licensed by Mastercard to conduct business in Tajikistan.
Currency Code TJS—972

Country Tajikistan
Settlement Agent National Bank of Tajikistan
Address 1 Rudaki Avenue 27/2
Address 2 Dushanbe 734003
Address 3 Tajikistan
Address 4
Contact Name
Contact Title
Contact Fax
Contact Email

Tanzanian Shilling—ME00083401
Settlement Holiday Rules This service will follow the Central Bank of Tajikistan, National
Bank of Tajikistan holiday calendar.
Settlement Service Cutoff in St. Louis 12:00 (St. Louis time)
Time
Designated Local Time for Debits 15:00 (Local time)
Designated Local Time for Credits 15:00 (Local time)
Domestic Interchange Available?
Central Bank Requirements The Tajikistan Domestic Settlement Service is for domestic
transactions only. Domestic customers must participate in this
service as mandated by the Central Bank of Tajikistan.
Customers that participate in this settlement must open an
account with National bank of Tajikistan.
Special Regulatory Requirements
Requirements
Special Requirements for Participating
Member Settlement Accounts
licensed by Mastercard to conduct business in Tanzania.
Currency Code TZS—834

Country Tanzania
Settlement Agent Bank of Tanzania
Address 1 10 Mirambo Street
Address 3 Dar es Salaam
Address 4 Tanzania

Contact Name Ms. Kariba Busigara

Contact Title Systems Analyst
Contact Fax 255-22-223-4196
Contact Email kfbusigara@hq.bot-tz.org

Both
Time
Mastercard Settlement Agent Participating customers are required to complete an Debit
Required Documents Authorization Agreement with the Mastercard settlement
agent.
Settlement Account Requirements Customers with multiple ICA numbers must consolidate all
Mastercard Required Documents Participating customers are also required to complete the
Member SWIFT Bank Identifier Code (BIC) Authorization Form
(Form 947). The customer’s BIC code is used by the Bank of
Tanzania as the customer identifier for settlement.
Mastercard Enabled Criteria Transaction Currency = TZS—834
Special Rules for Settlement Settlement is completed by the central bank through book
position must ensure that sufficient funds are available to
complete the daily settlement with Mastercard.
by Mastercard.

Thai Baht—AP00076401
Thai Baht—AP00076401
licensed by Mastercard to conduct business in Thailand.
Currency Code THB—764

Country Thailand
Settlement Agent JPMorgan Chase Bank, N.A. Bangkok
Address 1 Buphajit Building
Address 2 20 North Sathorn Road
Address 3 Silom, Bangrak
Address 4 Bangkok 10500 Thailand
Contact Name Siriwan Premplumjit
Contact Title Client Service Manager
Contact Phone + 66-2 684-2422
Contact Fax +66-2684-2110
Contact Email Siriwan.x.premplumjit@jpmorgan.com and csu-
bangkok@jpmorgan.com
Account Name Mastercard International THB Settlement
SWIFT ID CHASTHBXXX
Both
Time
Required Documents
Settlement Account Requirements Participating customer accounts must be held within the
country of Thailand.

Trinidad and Tobago Dollar—LA00078001

Special Rules for Settlement Participating customers settle funds through the Bank of
Thailand Automated High Value Transfer Network (BAHTNET),
the Thailand Real Time Gross Settlement System.
When remitting funds to the Mastercard settlement account,
refer to the bank account name as “Mastercard International
THB Settlement.”
by Mastercard.
Trinidad and Tobago Dollar—LA00078001

licensed by Mastercard to conduct business in Trinidad and Tobago.
Currency Code TTD—780

Country Trinidad And Tobago
Settlement Agent Republic Bank Limited
Address 1 87 Cipriani Blvd.
Address 2 Port of Spain
Address 3 Trinidad
Address 4 West Indies
Contact Name Mr. Harold De Silva
Contact Title M.A. Operations
Contact Phone (868) 627-8472
Contact Fax (868) 627-0249
Contact Email hdesilva@republictt.com
Both

Ugandan Shilling—ME00080001

Time
Required Documents
Settlement Account Requirements Issuers are required to maintain an account with the
Special Rules for Settlement Republic Bank Limited issues checks against the account on
the settlement date for the amount of settlement. These
checks are deposited in the settlement account at Republic
Bank Limited. Acquirers open accounts at Republic Bank
Limited and Republic Bank Limited issues checks from the
settlement account to the customer’s account.
by Mastercard.
licensed by Mastercard to conduct business in Uganda.
Currency Code UGX—800

Country Uganda
Settlement Agent Standard Chartered Bank—Uganda
Address 1 Small Business and Corporate Customer
Address 2 5 Speke Road, G/F, LRV561

Address 3 Kampala, Uganda

Address 4
Contact Name Roseline Ochola
Contact Title
Contact Phone 031 329 4379/077 660 1570
Contact Fax
Contact Email Roseline.ochola@sc.com
Settlement Holiday Rules This service follows the Central Bank of Uganda holiday
calendar.
Both
Time
Required Documents
Settlement Account Requirements Customers that participate in this settlement service must
have an account at a financial institution within the country
that participates in the Local Real Time Gross Settlement
System (RTGS) and can settle in Ugandan Shilling.
Mastercard Enabled Criteria Transaction Currency = UGX—800
by Mastercard.

Ukrainian Hryvnia—EU00098001
Ukrainian Hryvnia—EU00098001
licensed by Mastercard to conduct business in Ukraine.
Currency Code UAH—980

Country Ukraine
Settlement Agent State Export—Import Bank of Ukraine
Both
Time
Designated Local Time for Debits Close of local business day
Designated Local Time for Credits Close of local business day
Required Documents
IBAN format is required for all local accounts

Mastercard Enabled Criteria Transaction Currency = UAH—980
by Mastercard.

United Arab Emirates Dirham—ME00078401
United Arab Emirates Dirham—ME00078401

licensed by Mastercard to conduct business in the United Arab Emirates.
Currency Code AED—784

Country United Arab Emirates
Settlement Agent Citibank N.A., United Arab Emirates
Address 1
Address 2
Address 3
Address 4
Contact Name Citi Service Arab Emirates (Customer Service)
Contact Title
Contact Phone (+971) 600-534444
Contact Fax
Contact E-mail uae.citiservice@citi.com
IBAN Number AE220211000000101629007
SWIFT CITIAEADXXX
Debit ISIS, Credit ISIS, or Both Both
Settlement Holiday Rules This service follows the Central Bank of United
Arab Emirates holiday calendar.
Settlement Service Cutoff in St. Louis Time 00:00
Mastercard Settlement Agent Required N/A
Documents
Mastercard Settlement Agent Approval N/A

Requirements

Uruguayan United States Dollar—LA00084011
Mastercard Enabled Criteria Transaction Currency = AED—784
Customer Settlement Failure It is critical that each customer fund its exact
settlement amount according to ICA on the value
date. Failure to settle on the value date may result
in a delay or non-processing of settlement for all
participants. Customers that fail to settle may be
liable for loss of use of funds by other
participating customers in addition to assessments
of noncompliance fees by Mastercard.

licensed by Mastercard to conduct business in Uruguay.

Country Uruguay
Settlement Agent Nuevo Banco Comercial, SA
Address 1 Misiones 1399
Address 2 Uruguay
Both
Time
Required Documents

Uruguayan Peso—LA00085801

Card Program Identifier = DMC, MCC

by Mastercard.
Currency Code UYU—858

Country Uruguay
Address 2 Uruguay
Both
Time
Required Documents


Mastercard Enabled Criteria Transaction Currency = UYU—858
Card Program Identifier = DMC, MCC

by Mastercard.
Currency Code UYU—858

Country Uruguay
Address 2 Uruguay
Both
Time


Required Documents

by Mastercard.


Country Uruguay
Address 2 Uruguay
Both
Time

Venezuelan Bolivar Fuerta (Debit)—LA00093701

Required Documents

by Mastercard.

licensed by Mastercard to conduct business in Venezuela.
Currency Code VES—928

Country Venezuela
Settlement Agent Mercantil, C.A. Banco Universal
Address 1 Avenida Andres Bello, San Bernardino
Address 2 Torre Mercantil, Piso 21
Address 3 Caracas 1010, Distrito Federal, Venezuela
Contact Name Noralis Ochoa
Contact Phone 58212-503-0522 or 58414-277-4447
Contact Email nochoa@bancomercantil.com


Both
Time
Designated Local Time for Debits By close of the banking day
Designated Local Time for Credits By close of the banking day
Required Documents
Banco Central de Venezuela.
activity into one transfer agent position

Special Rules for Settlement Principals that settle in the Venezuelan Bolivar Fuerte must
participate in both the LA00093701 and LA00093702
settlement services to be compliant with Mastercard standards
and local requirements.
Principals settle their card activity to their central bank
account via Proceso de Liquidacion Bruta en Tiempo Real
(LBTR), the Real Time Gross Settlement Process of Banco
Central de Venezuela. Principals that do not have a central
bank account must onsolidate under another customer that
does have a central bank account.
by Mastercard.


licensed by Mastercard to conduct business in Venezuela.
Currency Code VES—928

Country Venezuela
Settlement Agent Mercantil, C.A. Banco Universal
Address 1 Avenida Andres Bello, San Bernardino
Address 2 Torre Mercantil, Piso 21
Address 3 Caracas 1010, Distrito Federal, Venezuela
Contact Name Noralis Ochoa
Contact Phone 58212-503-0522 or 58414-277-4447
Contact Email nochoa@bancomercantil.com
Both
Time
Designated Local Time for Debits By close of the banking day
Designated Local Time for Credits By close of the banking day
Required Documents
Banco Central de Venezuela.
activity into one transfer agent position

Mastercard Enabled Criteria Card Program Identifier = MCC, DMC

Vietnamese Dong—AP00070401
Special Rules for Settlement Principals that settle in the Venezuelan Bolivar Fuerte must
participate in both the LA00093701 and LA00093702
settlement services to be compliant with Mastercard standards
and local requirements. Customers with multiple ICAs must
consolidate all activity into one ICA.
Principals settle their card activity to their central bank
account via Proceso de Liquidacion Bruta en Tiempo Real
(LBTR), the Real Time Gross Settlement Process of Banco
Central de Venezuela. Principals that do not have a central
bank account must onsolidate under another customer that
does have a central bank account.
by Mastercard.
Vietnamese Dong—AP00070401
licensed by Mastercard to conduct business in Vietnam.
Currency Code VND—704

Country Vietnam
Settlement Agent Bank for Investment and Development of Vietnam
Address 1 14th Floor
Address 2 BIDV Tower
Address 3 35 Hang Voi St.
Address 4 Ha Noi, Vietnam
Contact Name Phan Thi Binh Nghia
Contact Title Officer—Customer Services Division—BIDV H.O. Customer
Services Center
Contact Phone +844.22206730
Contact Fax +844.22206725
Contact Email mciservice@bidv.com.vn

Zimbabwe Dollar—ME00093203

Both
Time
Mastercard Settlement Agent Participating customers must complete an agreement directly
Required Documents with the Bank for Investment and Development of Vietnam
(BIDV).
Settlement Account Requirements Customers participating in this intracurrency settlement
service must open an account with BIDV and maintain a
minimum balance as determined by BIDV.

Special Rules for Settlement Settlement is completed by BIDV through book transfer.
Therefore, participating customers in a net debit position must
ensure that sufficient funds are available to complete the daily
settlement with Mastercard.
by Mastercard.
licensed by Mastercard to conduct business in Zimbabwe.
Currency Code ZWL/932

Country Zimbabwe
Settlement Agent Eco Bank Zimbabwe
Address 1
Address 2
Address 3
Contact Name Weston Chiwara
Contact Title
Contact Fax 263-7-72805341
Contact Email wchiwara@ecobank.com
Settlement Holiday Rules This service will follow the Central Bank of Zimbabwe holiday
calendar
Settlement Service Cutoff in St. Louis 00:00 St. Louis time
Time
Designated Local Time for Debits 12:00 local time
Designated Local Time for Credits 15:00 local time
Domestic Interchange Available
Central Bank Requirements The Zimbabwean Domestic Settlement Service is for domestic
transactions only. Domestic customers must participate in this
service as mandated by the Central Bank of Zimbabwe.
Customers that participate in this settlement must have an
account with Eco Bank in Zimbabwe that participates in the
local real time gross settlement (RTGS) and can settle in the
Zimbabwe dollar (ZWL).
Special Regulator Requirements
Requirements
Special Requirements for Participating
Member Settlement Accounts

Net Settlement Information Form Instructions
Chapter 4 Net Settlement Information Form Instructions

This section describes the procedures for completing the Net Settlement Information Form.
How to Access the Net Settlement Information Form.................................................................. 248

NSIF Super User Mastercard OnLine Role..................................................................................... 248
Net Settlement Information Form and Change Request...............................................................249
Settlement Requirements for All Customers................................................................................ 250
Net Settlement Information Form Instructions............................................................................. 251
Section I: Principal Information............................................................................................... 252
Section II: Settlement Information...........................................................................................252
Section III: Transfer Agent Information.................................................................................... 254
Section IV: Settlement Through Another Principal (Consolidation)........................................... 258
Section V: Settlement Selection Criteria.................................................................................. 259
Section VI: Daily Net Settlement Advisement Transmission (Optional)...................................... 261
What Sections of the NSIF are Applicable to My Settlement Arrangement?................................. 262

How to Access the Net Settlement Information Form
How to Access the Net Settlement Information Form

Customers must have access to Mastercard Connect™ to access the Net Settlement
Information Form (NSIF) online.
About this task

Customers must use NSIF online to participate in Mastercard Settlement.
Procedure
1. Go to www.mastercardconnect.com.
3. Under Support, select Forms.
4. In the View Forms by Category field, select Clearing & Settlement.
5. Select the computer icon in the Online Forms column for the Net Settlement Information
Form (NSIF).
NOTE: Customers may contact the Customer Integration Team for more information about
accessing the NSIF online using Mastercard Connect.
NSIF Super User Mastercard OnLine Role

Principals may also enhance their experience by requesting the product NSIF Super User
Mastercard OnLine Role.
About this task

The benefits of having NSIF Super User Mastercard OnLine Role are as follows:
• Customers may view their current settlement parameters.
• Customers are automatically granted access to Mastercard Connect, which expedites the
process for ordering Settlement Advisements.
• Customers may quickly select the correct service or setup for changes because the tool
provides customers with current information.
Procedure
1. Go to www.mastercardconnect.com.
3. Click Store in the upper right corner of the window. The system displays the Store
window.
4. Scroll to or search for the application that you want to order.
5. Click Add to Cart or Manage. The system displays a confirmation message in the upper
right corner of the window.

Net Settlement Information Form and Change Request
6. When your order is complete, click Close to close the Store window.
7. Click Cart in the upper right corner of the Connect window. The system displays the Cart.
8. Click Check out. The system displays the Order Details window. If an application requires
that you provide additional information, Connect will display a message in the Order
Details window to let you know that the ordered application requires additional
information from you. Click on the item to provide the related information.
9. Click Review Order to see the items that you have ordered.
10. Click Place Order. You will receive a confirmation number. Make note of this number so
that you can track the order if needed. Connect will send an email to your Security
Administrator to let him or her know that the order is awaiting approval.
11. Click Close to complete the order process.
Net Settlement Information Form and Change Request

Each customer must complete and submit an NSIF to participate in Mastercard Settlement.
Mastercard recommends that Mastercard receive a completed NSIF at least 30 days before the
customer intends to become active in Mastercard® card programs.
The NSIF gives Mastercard the required information to add the customer to the Settlement
Account Management (S.A.M.) system. The S.A.M. system requires the inclusion of the
information contained in the completed NSIF to complete the settlement function properly.
A customer that participates in the RPPS® platform should refer to the Mastercard RPPS—User
Guide and Operating Rules manual to obtain a copy of the RPPS Net Settlement Agreement.
All customers that participate in the other clearing platforms that S.A.M. supports should refer
to the NSIF.
Once a customer becomes active in a Mastercard card program, changes required to the
customer’s profile are accomplished by resubmitting a complete NSIF to Mastercard.
Customers should review the information in this section with the appropriate individuals at
the transfer agent bank, and direct any questions through phone, fax, or letter to:
Global Customer Service Team
Mastercard
2200 Mastercard Boulevard
O’Fallon
MO 63368-7263
USA
Phone:1-636-722-6100

Settlement Requirements for All Customers
Settlement Requirements for All Customers

Principals must meet requirements before performing net settlement.
Mastercard® settles with principals and their designated correspondent banks, but not
customer-licensed affiliates. Both the Mastercard settlement agent and the customer’s transfer
agent bank must perform net settlement. Before performing net settlement, all principals
must:
• Determine the settlement service type in which to participate: regional settlement or
intracurrency settlement. This decision is based on the agreement between participating
customers to settle in a designated currency.
• Determine the regional settlement default. The customer must establish at least one
regional settlement agreement. This regional service will be defined as the customer’s
default service for settlement. If the customer processing within the Global Clearing
Management System (GCMS) application establishes many settlement agreements with
specific settlement selection criteria, the default regional service will be the “catch-all” for
transactions that do not meet the defined settlement selection criteria of the other services
requested by the customer.
• Complete each of the six sections of the NSIF, as applicable, to provide necessary
settlement profile information.
• Designate and establish a transfer agent bank/pay thru bank to receive and pay funds on
the customer’s behalf. This customer transfer agent bank must be able to execute funds
transfer instructions to the Mastercard settlement agent or the Mastercard mutual
correspondent bank.
• Determine a customer and/or transfer agent contact who is familiar with the customer’s
net settlement and funds transfers operation and who is responsible for handling the
customer’s settlement account.
• Determine the method used to receive the advisement message. Available methods are
Mastercard Connect, fax, and email.
The following situations describe consolidated relationships.
• A principal maintains multiple member IDs for settlement. This customer may designate a
lead member ID to effect settlement for multiple member IDs.
• A principal designates another principal to act as transfer agent to facilitate settlement on
its behalf. The principal must complete section IV of the NSIF instead of section III. The
principal completes section IV to indicate the consolidated relationship.
• Third Party Providers (TPPs) or Service Providers are prohibited from possessing, owning, or
controlling settlement funds unless otherwise approved by Mastercard. Refer to the
Mastercard Rules manual.
• In a consolidated relationship, the designated transfer agent may request to receive a
Transfer Agent Detail Advisement. Each member ID and the corresponding activity will
appear in a separate section of the advisement. In addition, if requested, each customer
participating within a consolidated arrangement may request to receive a Member Detail

Advisement. The customer may request an advisement by completing section VI of the

NSIF.
As an option, S.A.M. will transmit an advisement to the transfer agent bank indicating the
customer’s net settlement position. Advisements are transmitted each settlement day. For
examples of advisements and their field descriptions, refer to Net Settlement Advisements.
All customers that have a net credit settlement position on a given day are paid from the
funds transferred into the Mastercard net settlement account by the customers that receive a
debit position on the value date. Where applicable, Mastercard generates transfer funds order
messages to the settlement agent to:
• Debit the Mastercard account and transfer funds to the customer’s transfer agent bank
• Initiate a 1031 drawdown to the customer’s transfer agent bank instructing it to forward
the funds to the Mastercard settlement agent when settling in USD when the settlement
agent is located in the United States
• Acknowledge transfer funds order messages to expect payments initiated by the
customer’s transfer agent bank to the Mastercard account.
For more information on regional settlement services, refer to Regional Settlement Services for
Customers Licensed in Regions other than Europe and Regional Settlement Services for
Customers Licensed in Europe.
When settling in USD when the settlement agent is located in the United States, the transfer
agent bank with a net debit position for the day must transfer the appropriate amounts to the
Mastercard settlement agent by 14:00 St. Louis time, on the value date, or subject the
customer to penalties.
NOTE: All communication between a transfer agent bank and the Mastercard settlement
agent involving net settlement funds must include the Mastercard settlement account name,
account number, and the member ID assigned to the customer.

Before a customer or its designated transfer agent can become active in Mastercard® card
programs, Mastercard must receive a completed NSIF.
After Mastercard receives a complete and accurate NSIF, allow at least ten business days for
Mastercard to review, test, notify and implement the settlement parameters.
The following sections provide instructions on how to complete the NSIF.


The customer completes this section of the Net Settlement Information Form (NSIF) to provide
specific customer information necessary to establish a settlement account relationship with
Mastercard.
If delivering multiple settlement agreements at the same time, the customer completes
Section I once per member ID and attach with applicable sections of the NSIF.
Customer Detail
The customer must provide the following information.
Field Description
Customer Name Name of principal institution.
Member ID A unique identification number, also known as ICA, that is
assigned by Mastercard to identify a customer or processing
endpoint.
Customer Address Full address (street, city, state/province, ZIP/postal code, and
country) where the customer is located.
Customer Settlement Contact The individual responsible for managing the settlement activity.
Information in this field… Indicates…

Selection of Settlement Services in Complete only when submitting multiple agreements for one
trailer section member ID/ICA at one time. Indicate the applicable settlement
service for the paperwork.

The customer must designate in this section of the Net Settlement Information Form (NSIF) the
purpose of completing the form.
The following chart assists the customer in determining the action of the NSIF.
Applicable NSIF
Action Definition Sections
New Settlement Customer is submitting a new settlement account I, II, III or IV, V, VI
Request and currency
Settlement Account Customer is changing its existing settlement I, II, III or IV, V, VI
Change account
Advisement Change Customer is requesting to add, change, or delete VI
an advisement destination

Applicable NSIF
Action Definition Sections
Delete Settlement Customer is removing a settlement account and I, II, III or IV, V
Request currency. The settlement information in the NSIF
will be inactivated in the settlement application,
S.A.M. If requesting a member ID to be deleted,
contact Global Customer Service.
Change Settlement Customer is updating its current settlement I, II, III or IV, V, VI
Service Criteria selection criteria. The section must contain all
criteria values (including any new or remaining
criteria) that will determine the settlement
account and currency under which the GCMS
transaction will settle.
Change Regional Customer is changing an existing regional I, II, III or IV, VI
Default settlement account and currency to now be the
regional default settlement account and currency.
When this request is implemented in the
settlement application S.A.M., the settlement
service selection criteria will be deleted within the
existing regional settlement account.
Add new input source Customer is adding a new input source to the I, II, III or IV, V, VI
to an existing ICA regional settlement service.
Once the purpose of the NSIF is determined, the customer must specify one of the following
types of settlement service:
• Regional Settlement—The settlement service that Mastercard uses to credit or debit a
customer’s account in the customer’s settlement currency. At least one regional settlement
agreement must be defined for the customer. If it is determined that the customer will
participate in one regional settlement agreement, this regional service should be identified
as the default regional settlement service. When the customer defines the default regional
settlement service, no lower-level settlement criteria, offered in section V, may be
requested.
When a customer determines it will participate in more than one regional settlement for
GCMS processed transactions, lower-level settlement criteria will be required to distinguish
what activity will be settled through the different regional services. The settlement activity
for regional settlement outside of the default regional service will be communicated
through the NSIF. Separate sections stated below must be completed within the NSIF for
each member ID to guide settlement for each regional service settlement account/currency:
– Transfer Agent Information/Pay Thru Bank Information in section III or Consolidated
Settlement Through Another Principal section IV

– Settlement Selection Criteria section V (completed only for GCMS processed

transactions and when identifying settlement for regional services that are not the
regional default)
– Daily Transfer Net Settlement Agent Advisement Transmission section VI (completed if
the customer chooses to receive an advisement)
• Intracurrency Settlement—The Mastercard settlement service used by customers and
transfer agents to settle their domestic transactions in local currency. This agreement
requires that settlement for the currency will net to zero daily between all participating
customers.
Mastercard may establish specific criteria for some intracurrency settlement. Therefore,
individual customers will not define unique settlement criteria when participating in
intracurrency settlement and will not complete section V. Separate sections stated below
must be completed within the NSIF for each member ID to settle within an intracurrency
service settlement account/currency:
– Transfer Agent Information/Pay Thru Bank Information in section III or Consolidated
Settlement Through Another Principal section IV
– Daily Transfer Net Settlement Agent Advisement Transmission section VI (completed if
the customer chooses to receive an advisement)
If Mastercard deems it necessary to suspend or discontinue one of its intracurrency settlement
services because of an uncontrollable event, Mastercard will convert each participating
customer’s settlement position to its regional default settlement currency. Each customer is
required to complete an NSIF for the default regional currency.
NOTE: The customer should consider the following factors when determining participation in
regional settlement: settlement currency, Mastercard settlement agent, member ID’s licensed
region, and the supported clearing system. For more information on regional settlement
services, refer to Regional Settlement Services for Customers Licensed in Regions other than
Europe and Regional Settlement Services for Customers Licensed in Europe.

Selection of Settlement Services in Complete only when submitting multiple NSIFs for one member
trailer section. ID/ICA at one time. Indicate the applicable settlement service ID
for the paperwork.

The customer completes this section to provide specific information about the account owner,
transfer agent, and the designated transfer agent bank.
The transfer agent bank is the institution where the transfer agent account is maintained.

Field Description
Transfer Agent Name (Account Name of the settlement account owner and be the same as the
Owner) “Customer Name” defined in section I. If different, the principal
should be establishing a consolidated settlement relationship or
discuss the settlement arrangement with the Global Customer
Service team.
Transfer Agent Contact Name Person to be contacted on behalf of managing the customer’s daily
and Phone Number settlement activity. Complete if different from the “Customer
Settlement Contact” in section I.
Transfer Agent Bank Name Name of the bank where the transfer agent settlement account is
maintained.
Transfer Agent Bank Address Full address (street, city, state/province, ZIP/postal code, and
country) of the bank where the transfer agent settlement account
is maintained.
US Federal Banking Routing Required. Provide one of the following:
Transit Number or SWIFT ID • U.S. Federal Banking Routing Transit Number
• SWIFT ID
Customers that settle in USD must complete the U.S. Federal
Banking Routing Transit Number (nine digits)
The SWIFT ID consists of eight or eleven contiguous characters as
follows:
Code Length Position Format

Bank 4 1-4 Alphabetic
Country 2 5-6 Alphabetic
Location 2 7-8 Alphanumeric
Branch 3 9-11 Alphanumeric
Transfer Agent Account Number The designated transfer agent settlement account number located
at the transfer agent bank (19 characters maximum). In some
cases, the transfer agent bank may not need an account number.
See the following International Bank Account Number (IBAN) fields
for further clarification regarding the Transfer Agent Account
Number.
Transfer Agent Account Currency The three-position alpha or numeric ISO settlement currency for
the transfer agent settlement account.

Field Description
International Bank Account The two-position alpha ISO Country Code associated with the
Number (IBAN) ISO Country Code transfer agent IBAN settlement account.
Mandatory for all regional EUR settlement in EU00000007 and
EU00000008 settlement services; optional for all other settlement
services.
For further clarification regarding the use of IBAN-based account
numbers, refer to International Bank Account Number.
IBAN Bank Code The eight-position, variable-length, alpha or numeric Bank Code
associated with the transfer agent IBAN settlement account.
services.
IBAN Branch Code The six-position numeric Branch Code associated with the transfer
agent IBAN settlement account.
services.
Pay Thru Bank Information

A transfer agent bank may elect to use a pay thru bank when the transfer agent bank is
unable to effect payments with the Mastercard settlement agent.
Only customers that effect settlement through a pay thru bank need to complete this section.
Customers that do not effect settlement through a pay thru bank should initial the bottom of
the page and proceed to section V.
Field Description
Pay Thru Bank Name The name of the selected correspondent bank.
Pay Thru Bank Address The full address (street, city, state/province, ZIP/postal code, and
country) where the correspondent bank is located.

Field Description
U.S. Federal Banking Routing Required. Provide one of the following:
Transit Number or SWIFT ID • U.S. Federal Banking Routing Transit Number
• SWIFT ID
Customers that settle in USD must complete the U.S. Federal
Banking Routing Transit Number (9 digits)
The SWIFT ID consists of eight or eleven contiguous characters as
follows:
Code Length Position Format

Bank 4 1-4 Alphabetic
Country 2 5-6 Alphabetic
Location 2 7-8 Alphanumeric
Branch 3 9-11 Alphanumeric
Pay Thru Bank Account Number The account number at the correspondent bank that will effect
payments to/from the Mastercard settlement agent.
See the following International Bank Account Number (IBAN) fields
for further clarification regarding the Pay Thru Bank Account
Number.
Pay Thru Bank Account Currency The three-position alpha or numeric ISO settlement currency for the
Pay Thru Bank Account. Must be the same currency as the Transfer
Agent Account Currency.
International Bank Account The two-position alpha ISO Country Code associated with the Pay
Number (IBAN) ISO Country Thru IBAN settlement account.
Code Mandatory for all regional EUR settlement in EU00000007 and
services.
IBAN Check Number The two-position numeric Check Number associated with the Pay
Thru IBAN settlement account.
services.

Section IV: Settlement Through Another Principal (Consolidation)
Field Description
IBAN Bank Code The eight-position, variable-length, alpha or numeric Bank Code
associated with the Pay Thru IBAN settlement account.
services.
IBAN Branch Code The six-position numeric Branch Code associated with the Pay Thru
IBAN settlement account.
services.

Selection of Settlement Services Complete only when submitting multiple agreements for one
in trailer section. member ID at one time. Indicate the applicable settlement service
for the paperwork.
Section IV: Settlement Through Another Principal (Consolidation)

The customer designates in this section of the Net Settlement Information Form (NSIF) a
transfer agent to facilitate settlement on behalf of the customer for consolidated settlement.
A customer that designates a different principal to act as its transfer agent to effect daily net
settlement on their behalf is considered to be participating in a consolidated relationship. In
this case, the principal completing the NSIF designates a different principal to be the transfer
agent in a consolidated arrangement. This designation enables Mastercard to facilitate
settlement on behalf of the designating customer at the transfer agent (designated customer)
bank.
Indicate the transfer agent name and the transfer agent member ID.
Indicate the transfer agent bank account currency.
Field Description
Transfer Agent Name (Account The name of the selected principal that owns the settlement
Owner) account to effect payments to/from the Mastercard settlement
agent on behalf of the customer defined in section I.

Field Description
Transfer Agent Member ID A unique identification number assigned by Mastercard to identify
a customer or processing endpoint. This ID has been assigned by
Mastercard and represents the principal identified in the Transfer
Agent Name.
Transfer Agent Account Currency The three-position alpha or numeric ISO settlement currency for
the Transfer Agent Account that effects payments to/from the

trailer section. member ID/ICA at one time. Indicate the applicable settlement

The customer selects in this section of the Net Settlement Information Form (NSIF) specific
settlement selection criteria if establishing a regional settlement agreement that is not the
default.
This section of the NSIF must be completed if settlement is to occur by using settlement
selection criteria to guide GCMS transactions to a specific settlement account/currency. The
settlement selection criteria option is only available for regional settlement through the GCMS
platform. Customers can use multiple combinations of the settlement selection criteria for a
specific settlement account/currency. When multiple criteria combinations are applicable, the
customer will complete section V for each combination of the settlement selection criteria and
include all of the criteria combinations within the NSIF applicable to the settlement account/
currency. For more information on the settlement service selection criteria implementation
requirements, customers should refer to Settlement Concepts. Customers should contact their
regional office or the Global Customer Service team when a business application for
settlement service selection criteria is requested.
NOTE: Mastercard, in its sole discretion, may restrict usage of settlement selection criteria as
Mastercard may deem necessary or appropriate. In such event, an implementation date is
determined by Mastercard on a case-by-case basis.
The following is settlement selection criteria available for GCMS processed transactions:
• Issuer Only Activity
• Acquirer Only Activity
• Acquirer Bank Identification Number (BIN)

Intracurrency settlement agreements between customers that participate in intracurrency

settlement will determine the application of the settlement criteria within section V. Therefore,
individual customers will not define unique settlement criteria when participating in
intracurrency settlement and will not complete section V.
GCMS Settlement Service Selection Criteria

The following table includes the settlement selection criteria available to customers processing
within the GCMS platform. For more information about the GCMS application of settlement
service selection criteria, refer to the Settlement Service section in the GCMS Reference
Manual.
NOTE: European customers processing under the ECCF format should contact their regional
office or Global Customer Service to discuss usage of the settlement selection criteria options
for regional and intracurrency services.
Settlement Selection
Criteria For More Information
Issuer Only or Acquirer The Transaction Function is used to classify a transaction as issuing and
Only Activity acquiring. For more detail related to Transaction Function and the
application of Message Type Identifier (MTI) plus Function Code, refer to the
IPM Clearing Formats manual.
Issuer Account Range Identifies the account range associated with the cardholder account range
of the transaction. For more detail related to DE 2 (Primary Account Number
[PAN]), refer to the IPM Clearing Formats manual.
Acquiring BIN Identifies the acquiring BIN associated with the acquirer of the transaction.
For more detail related to DE 31 (Acquirer Reference Data), subfield 2
(Acquirer’s BIN), refer to the IPM Clearing Formats manual.
Card Program Identifier The Card Program Identifier is a three-character code that identifies the card
program or financial network to which a transaction belongs. For Card
Program Identifiers available to select from for GCMS processed
transactions, refer to PDS 0158 (Business Activity) in the IPM Clearing
Formats manual

trailer section. member ID/ICA at one time. Indicate the applicable settlement

Section VI: Daily Net Settlement Advisement Transmission (Optional)
Section VI: Daily Net Settlement Advisement Transmission (Optional)

The customer identifies in this section of the Net Settlement Information Form (NSIF) the
appropriate method to receive the Net Settlement Advisement.
This section of the NSIF must be completed if the customer chooses to receive a net
settlement advisement. The customer may elect to receive the advisement in more than one
method of transmission to various destinations. A monthly fee is charged for each method of
transmission and destination on a unique combination of account/currency, settlement service,
and transfer agent ID or member ID. For more information, refer to Net Settlement
Advisements.
Within this section of the NSIF, the customer must elect to either to receive an advisement if
no existing current advisement method is established, or change an existing advisement
destination or transmission method. This section of the NSIF can be copied and used
independently if selecting additional methods and destinations or elect to make changes.
Field Description
Step 1: Settlement Service Customers must select the type of settlement service for which
Selection they are requesting advisements. The customer must specify one
of the following:
• Regional Settlement—The Mastercard settlement service used
by customers and transfer agents to settle their transactions.
Include the settlement account and currency to define what
service is being impacted by the request.
• Intracurrency Settlement—The Mastercard settlement service
used by customers and transfer agents to settle in a mutually
agreed upon currency. Include the settlement account and
currency to define what service is being impacted by the
request.
Step 2: Choose the method of Indicate the method of transmission you want to use when
transmission and indicate the receiving the advisement. Valid options are:
recipient of the advisement.
• Mastercard Connect (Note: Access to Mastercard Connect is
required through a SecurID®. To receive an advisement
through Mastercard Connect, registration for the product is
required through Mastercard Connect.)
• Email Address
• Fax Number (Include the country/city code + number)
• SWIFT Address
Choose a recipient for each destination chosen.

What Sections of the NSIF are Applicable to My Settlement Arrangement?
Field Description
Step 3: Choose the method of Delete a current method of delivery by defining the transmission
transmission and the destination and destination:
that you would like to remove
• Mastercard Connect (eliminating the product is required
through Mastercard Connect).
• Email Address.
• Fax Number (include the country/city code + number).
• SWIFT Address

trailer section. member ID/ICA number at one time. Indicate the applicable
settlement service for the paperwork.
What Sections of the NSIF are Applicable to My Settlement

Arrangement?
This table helps customers determine which sections of the Net Settlement Information Form
(NSIF) to complete based on customers’ roles and responsibilities.
Settlement Arrangement Applicable Section of the NSIF

Principal acts as own transfer agent, is responsible for Section I, II, III, VI
funding the account at the transfer agent bank, and is
establishing their regional default, and chooses to receive a
net settlement advisement.
funding the account at the transfer agent bank, and is
establishing an intracurrency agreement, and chooses to
receive a net settlement advisement.
funding the account at the transfer agent bank, and
chooses to use settlement service selection criteria for a
regional service, and receive a net settlement advisement.
Principal acts as own transfer agent, is responsible for Section I, II, III, V (multiple sheets
funding the account at the transfer agent bank, and defined by the group identifier to
chooses to use multiple combinations of settlement service support combinations of criteria), VI.
selection criteria for a regional service, and receive a net Note: Section V completed for each
settlement advisement. group of the settlement selection criteria
requested.

What Sections of the NSIF are Applicable to My Settlement Arrangement?
Settlement Arrangement Applicable Section of the NSIF

Principal acts as own transfer agent, is responsible for Section I, II, III
funding the account at the transfer agent bank, is
establishing its regional default, and does not want to
receive a net settlement advisement.
Principal acts as own transfer agent, is responsible for Section I, II, III
funding the account at the transfer agent bank, requires a
pay thru bank to effect payments with the Mastercard
settlement agent, and is establishing its regional default.
Principal chooses not to receive a net settlement
advisement.
Principal acts as own transfer agent, is responsible for Section I, II, III, V
funding the account at the transfer agent bank, requires a
pay thru bank to effect payments with the Mastercard
settlement agent, and chooses to use settlement service
selection criteria for a regional service. Principal chooses not
to receive a net settlement advisement.
Principal participates in a consolidated settlement Section I, II, IV, V, VI
arrangement and chooses to use settlement service
selection criteria for a regional service. Principal chooses to
receive a customer advisement.
Principal participates in a consolidated settlement Section I, II, IV
arrangement for its regional default and chooses not to
receive a customer advisement.

Net Settlement Advisements
Appendix A Net Settlement Advisements

This section describes and provides examples of Net Settlement Advisements.
Net Settlement Advisements....................................................................................................... 265

Transfer Agent Advisement Detail (BSADV308-AA)......................................................................266
Member Advisement Detail (BSADV303-AA)............................................................................... 277
Transfer Agent Advisement Exception Report (BSADV309-AA).................................................... 282


A settlement advisement is a message that identifies the net settlement position of one or
more member IDs.
Customers must bring the Mastercard net settlement account to a zero balance each day. To
do this, customers must instruct their transfer agent or pay thru banks to give transfer order
messages top priority and to respond to them accordingly.
At each settlement cutoff, the Settlement Account Management (S.A.M.) system determines
the net settlement position for all customers that are settling in that settlement cycle.
Advisement recipients may elect to receive an advisement for their net debit or net credit
position.
Customers that are in a net credit position should expect to receive payment from Mastercard
for the sum of the net position. Customers in a net debit position are expected to forward
payment to Mastercard for the sum of the net position. In addition, customers may request
more than one advisement destination or advisement transmission media.
Customers participating in settlement follow an agreed upon settlement cutoff for calculating
end-of-day net settlement positions. Following the agreed upon settlement cutoff, Mastercard
generates advisements for each participating customer’s net settlement position.
The S.A.M. system generates the following advisements at the end of each mutually agreed
upon business day, as applicable:
• Each customer or transfer agent participating in settlement receives an advisement
identifying the net settlement position for each unique combination of account/currency,
settlement service, and transfer agent ID or member ID.
• Each transfer agent that participates in Minimum Threshold for Funds Transfer process will
receive an advisement notifying them of the payments that have met the small dollar
threshold and will be settled at a later date.
Settlement advisements are available through the following methods:
• Mastercard Connect
• Email message
• Fax
• SWIFT MT998
NOTE: Mastercard may require each participating customer to establish a relationship with
the local settlement agent to move funds appropriately.
Types of Advisements
There are three types of advisements:
• Transfer Agent Detail Advisement

Transfer Agent Advisement Detail (BSADV308-AA)
• Member Advisement Detail

• Transfer Agent Advisement Exception Report
Advisement Delivery Times

On each scheduled settlement day, Mastercard advises the transfer agent bank of the
customer’s net settlement position. This advisement also will notify the transfer agent bank
either to expect a funds transfer from, or to transfer funds to the net settlement agent
account in the applicable currency. Mastercard sends the advisement to the transfer agent
designated by the customer.
The following table lists the anticipated advisement distribution times for each of the six settlement
service cutoffs:
IF the Settlement Service Cutoff time (St. THEN the advisement distribution time will
Louis time) is … generally be …
00:00 02:00
03:00 05:00
04:05 06:05
06:30 08:30
08:00 10:00
10:30 12:00
NOTE: When the customer is in a debit position, Mastercard requires payment to the
Mastercard settlement account within the settlement service payment deadline on the value
date regardless of the advisement delivery time.

Transfer Agent Advisement Detail is distributed to the customer or its designated transfer
agent. This advisement notifies the transfer agent bank of its net position in the appropriate
settlement currency.
The transfer agent bank may receive the advisement through Mastercard Connect, email
message, fax, or SWIFT MT998.
Customers that maintain multiple Customer (Member) IDs for clearing and settlement may
consolidate their activity under one Customer (Member) ID to minimize funds transfer
expenses. Each Customer (Member) ID will appear as a separate section in the Transfer Agent
Advisement Detail. This layout simplifies reconciliation for each Customer (Member) ID.
Mastercard places no restriction on which Customer (Member) ID assumes the lead
designation except that it must be a principal.

The following is the format of page 1 of this report.


The following is the format of page 2 of this report.


Field Descriptions
The column headings in the table describing each of the fields are as follows.
Heading Description
Field Number The field number in this column corresponds to the field number in
parenthesis on the sample layout.
Field Name The name used to reference the field.
Required (R) or This column displays an R if the field is required and displays on every Transfer
Optional (O) Agent Advisement created. This column displays an O if the field is optional
and will be displayed only if the field is appropriate for this Transfer Agent
Advisement. For example, the Mutual Correspondent Bank (MCB) fields will
show an O and will display only if an MCB exists.
Attribute This column describes the size and characteristics of the field. An a represents
an alpha field, n represents a numeric field, and the number represents the
number of characters in the field.
Description This column describes the contents of the field and any special notes.
The following table includes information about each of the fields in the Transfer Agent
Advisement—Detail.
Required (R)
Field Number Field Name Optional (O) Attribute Description

1 Report R an-11 System name assigned to this
report—BSADV308-AA.
2 Date R DD MMM YYYY System date on which the
report was created based on
St. Louis date.
3 Page R n-3 Page number of the report.
4 Time R HH:MM System time at which the
report was created. This is
displayed as St. Louis local
time.
5 Delivery Media R an-40 The assigned delivery media
for all detail positions on this
report.
6 Destination R an-50 The assigned destination for all
detail positions on this report.

Required (R)

7 From Name R an-40 Name of the company sending
this report. This always will say
MASTERCARD.
8 To Transfer R an-40 The name of the transfer agent
Agent receiving this report.
9 From Office R an-15 Location of the Mastercard
office that is sending this
report.
10 Transfer Agent R n-11 The ID (identifier) of the
ID transfer agent receiving this
report.
11 Transfer Agent R an-40 The name of the transfer agent
Bank bank.
12 From Phone R an-12 The phone number of the
Number Mastercard office to contact if
you have questions about this
report.
13 Contact Name R an-40 The name of the person at the
transfer agent office that will
receive this report.
14 Settlement Date R DD MMM YYYY The date on which settlement
processing occurred and
advisements delivered.
15 Settlement R an-40 The name of the settlement
Service Name service that this report
supports.
16 Scheduled R HH:MM Scheduled cutoff time to
Cutoff Time support dynamic cutoffs,
displayed in Coordinated
Universal Time (UTC).
17 Settlement R an-10 The unique identifier assigned
Service ID by Mastercard for the
settlement service.
18 Scheduled R an-2 Originally scheduled settlement
Settlement service cycle, sequential within
Cycle settlement cycle.
19 Settlement R an-16 The level of the settlement
Service Type service: regional or
intracurrency.

Required (R)

20 N/A Reserved for future use.
21 Settlement Bank R an-40 The name of the settlement
Name service’s designated settlement
bank.
22 Settlement R an-19 The account number of the
Account settlement service’s designated
Number settlement bank (the account
number from which the
transfer agent receives money
or to which it pays).
23 Settlement R an-18 The routing number of the
Routing Number settlement service’s designated
settlement bank (the routing
number from which the
transfer agent receives money
or to which it pays).
24 MCB Account O an-19 The account number of the
Number mutual correspondent bank.
Displays only if there is an
MCB relationship to the
transfer agent.
25 Mutual O an-40 The name of the mutual
Correspondent correspondent bank. Displays
Bank only if there is an MCB
relationship to the transfer
agent.
26 MCB Country O a-3 The three-character ISO code
Code for the country in which the
MCB resides. Displayed as
alpha characters.
27 Pay Thru O an-19 The account number of the
Account Pay Thru Bank. Displays only if
Number there is a Pay Thru relationship
to the transfer agent.
28 Pay Thru Bank O an-40 The name of the Pay Thru
Bank. Displays only if there is a
Pay Thru relationship to the
transfer agent.

Required (R)

29 Pay Thru O a-3 The three-character ISO code
Country Code for the country in which the
Pay Thru Bank resides.
Displayed as alpha characters.
30 Agent Account R an-19 The account number of the
Number transfer agent detailed on this
report.
31 Bank Routing R an-18 The routing number assigned
Number to the bank that controls the
transfer agent.
32 Currency Name R an-40 The ISO name of the currency
in which the positions are
valued.
33 Currency Code R a-3 The ISO alpha and numeric
codes in which the currency
n-3
positions are valued.
34 Country Code R a-3 The three-character ISO code
for the country in which the
transfer agent resides.
Displayed as alpha characters.
35 Value Date R an-11 The date that funds are
expected to move for
settlement.
36 Member Name R an-40 The name of the customer
associated with the settlement
positions that follow on this
report.
37 Member ID R n-11 The unique identifier for the
customer.
38 Internal ID R an-20 The customer’s unique
identifier assigned by the bank
that manages the transfer
agent.
39 No R an-3 A unique identifier for the line
created at the time of the
report.
40 Recon Date R an-11 The reconciliation date of an
individual customer settlement
position that will be settled
through the transfer agent.

Required (R)

41 Input Source R an-10 System that provides data to
the Settlement Account
Management (S.A.M.):
0000000001 = GCMS
0000000002 = RPPS®
0000000003 = MCBS
0000000004 = APC
0000000006 = Single Message
System
42 File ID R an-25 Transmission ID.

43 Originated in R n-17 The amount of the settlement
Payment position that is activity
submitted by this customer,
displayed on the advisement in
payment currency.
44 D/C R a-1 Debit/credit indicator.
45 Received in R n-17 The amount of the settlement
Payment position that is activity received
by this customer, displayed on
the report in payment
currency.
47 Net Amount in R n-17 The total net amount of this
Payment customer’s settlement position
that will be settled through the
transfer agent, displayed on
the advisement in payment
currency.
49 Member Totals R n-3 Three-digit code that indicates
in Payment the currency in which the
Currency XXX customer is paid or pays to
settle its activity.
50 Member Totals R n-18 The total amount of all
in Payment settlement positions that was
Currency activity submitted by this
(Originated) customer, displayed on the
advisement in payment
currency.

Required (R)

in Payment settlement positions that was
Currency activity received by the
(Received) customer, displayed on the
currency.
54 Member’s Net R n-18 The total net amount of this
Amount customer’s settlement positions
the advisement in payment
currency.
56 Account Totals R n-3 Three-digit code that indicates
in Payment the account payment currency
Currency XXX for this transfer agent.
57 Account Totals R n-18 The total amount of all
in Payment settlement positions with the
Currency same value date for the
(Originated) account that was activity
submitted by the customer,
payment currency.
(Received) account that was activity
received by the customer,
payment currency.
61 Account Totals R n-18 The total net amount of all
Currency (Net same value date for the
Amount) account, displayed on the
currency.

Member Advisement Detail (BSADV303-AA)
Required (R)


The Member Advisement Detail is distributed upon request to customers that participate in a
consolidated arrangement. This advisement notifies the customer of its net settlement
position that will be settled at the designated transfer agent bank. Customers may elect to
receive the advisement through Mastercard e-Service, email message, SWIFT MT998, or fax.
Customers involved in a consolidated relationship may elect to receive a member advisement.
The Member Advisement Detail is a reconciliation report and is not intended to be used to
initiate payment to or from Mastercard. The Transfer Agent Detail Advisement will continue to
be used to identify net settlement positions for settlement by the transfer agent bank.
The following is the format of this report.

Field Descriptions
Heading Description
Field Number The field number in this column corresponds to the field number in
Required (R) or This column displays an R if the field is required and displays on every
Optional (O) Member Advisement Detail created. This column displays an O if the field is
optional and will be displayed only if the field is appropriate for this Member
Advisement Detail.
Attribute This column describes the size and characteristics of the field. An a represents

Heading Description
The following table includes information about each of the fields in the Member Advisement
Detail.
Required (R)

1 Report R an-11 Report ID.
displayed as the St. Louis date.
3 Page R n-3 Page number of the report.
4 Time R HH:MM System time on which the
displayed as St. Louis time.
for all detail positions on the
report.
detail positions on the report.
this report. This will always say
MASTERCARD.
8 To Member R an-40 The name of the customer
receiving this report.
8a Member ID R n-11 The ID of the customer
receiving this report.
9 From Office R an-15 The location of the Mastercard
report.
10 From Phone R an-12 The phone number of the
Number Mastercard office to contact if
you have questions about this
report.
11 Settlement Date R DD MMM YYYY The date on which settlement
processing occurred and
advisements were delivered.

Required (R)

supports.
13 Scheduled R HH:MM Scheduled cutoff in
Cutoff Time Coordinated Universal Time
(UTC).
14 Settlement R an-10 The Mastercard unique
Service ID identifier for the settlement
service.
15 Scheduled R an-2 The originally scheduled
Settlement settlement service cycle,
Cycle sequential within settlement
service.
intracurrency.
17 N/A Reserved for future use.
in which the positions are
valued.
n-3
20 Country Code R a-3 The three-character ISO code
for the country in which the
transfer agent resides. This
code is displayed as alpha
characters.
21 Value Date R an-11 The value date for each of the
following detail lines on the
report.
report.
through the transfer agent
based on processing local time.

Required (R)

0000000001 = GCMS
0000000002 = RPPS®
0000000003 = MCBS
0000000004 = RSC / APC
System
25 Trans ID R an-25 Transmission ID.

26 Originated in O n-18 The amount of the settlement
Currency submitted by this customer,
displayed on the report in
payment currency.
27 D/C O a-1 Debit/credit indicator for the
amount of the settlement
position that is activity
submitted by the customer.
28 Received in O n-18 The amount of the settlement
Currency by this customer, displayed on
currency.
amount of the settlement
position that is activity
30 Net Amount in O n-17 The total net amount of this
Currency that will be settled through the
currency.
total net amount of the
customer’s settlement position.

Transfer Agent Advisement Exception Report (BSADV309-AA)
Required (R)

32 Account Totals R an-25 Displays field name, “Account
in Payment Totals in Payment Currency”.
Currency
33 Payment R n-3 Three-digit code that indicates
Currency the currency in which the
customer is paid or pays to
settle its activity.
34 Account Totals O n-18 The total amount of all
Currency same value date for an
(Originated) account that has activity
35 D/C O a-1 Debit/credit indicator.
36 Account Totals O n-18 The total amount of all
Currency same value date for an
(Received) account that has activity
received by the customer.
37 D/C O a-1 Debit/credit indicator.
38 Account Totals O n-18 The total net amount of all
Currency (Net same value date for this
Amount) account.

The Transfer Agent Advisement Exception Report is distributed by Mastercard to the
designated transfer agent when a net settlement position is held for a threshold limit. Transfer
agents may elect to receive the advisement through Mastercard e-Service, email message,
SWIFT MT998, or fax.
The following is the format of this report.

Field Descriptions
Heading Description
Field No. The field number in this column corresponds to the field number in
Required (R) or This column displays an R if the field is required and displays on every Transfer
Optional (O) Agent Advisement Detail created. This column displays an O if the field is
optional and will be displayed only if the field is appropriate for this Transfer
Agent Advisement Detail. For example, the Mutual Correspondent Bank
(MCB) fields will show an O and will display only if an MCB exists.
Field Length/Format This column describes the size and characteristics of the field. An a represents
The following table includes information about each of the fields in the Transfer Agent
Advisement Exception Report.
Required (R)

1 Report R an-11 System name assigned to this
report (BSADV309-AA).
displayed as Coordinated
3 Page Number R n-3 Page Number of the report.

Required (R)

4 Time R HH:MM System time on which the
displayed as Coordinated
for all detail positions on this
report.
detail positions on this report.
this report. This always will say
MASTERCARD.
8 To Transfer R an-40 The name of the transfer agent
Agent receiving this report.
9 From Office R an-15 Location of the Mastercard
report.
10 Transfer Agent R n-11 The ID (identifier) of the
ID transfer agent receiving this
report.
11 Transfer Agent R an-40 The name of the transfer agent
Bank bank.
12 From Phone R an-12 The telephone number of the
Number department at Mastercard that
sent this report.
13 Contact Name R an-40 The name of the person at the
transfer agent office that will
receive this report.
14 Settlement Date R DD MMM YYYY The date which settlement
processing occurred.
supports.
16 Scheduled R HH:MM The settlement cycle cutoff
Cutoff Time time as scheduled.
17 Settlement R an-10 The Mastercard unique
Service ID identifier for the settlement
service.

Required (R)

18 Scheduled R an-2 The originally scheduled
Settlement settlement service cycle,
Cycle sequential within service
intracurrency.
20 Settlement Bank R an-40 The name of the settlement
Name service’s designated settlement
bank.
21 Settlement R an-19 The account number of the
Account settlement service’s designated
Number settlement bank (the account
number that the transfer agent
receives money from or pays
money to).
22 Settlement R an-18 The routing number of the
Routing Number settlement service’s designated
settlement bank (the routing
number which the transfer
agent receives money from or
pays money to).
23 Agent Account R an-19 The account number of the
Number transfer agent detailed on this
report.
24 Bank Routing R an-18 The routing number assigned
Number to the bank that controls the
transfer agent.
that the positions are valued
in.
n-3
27 Country Code R a-3 The 3 character ISO code for
the country in which the
transfer agent resides. This is
displayed as Alpha characters.
28 Value Date R an-11 The date funds should move
for settlement stated in this
report.

Required (R)

29 Member Name R an-40 The name of the customer
associated with the settlement
positions that follow on this
report.
30 Member ID R n-11 The unique identifier for the
customer.
31 Internal R an-20 The customer’s unique
Member ID identifier assigned by the bank
that manages the transfer
agent.
report.
through the transfer agent.
0000000001 = GCMS
0000000002 = RPPS®
0000000003 = MCBS
0000000004 = RSC / APC
System
35 Trans ID R an-25 Transmission ID

36 Originated in R n-17 The amount of the settlement
submitted by this customer,
reported on the advisement in
Payment Currency.
38 Received in R n-17 The amount of the settlement
by this customer, reported on
the advisement in Payment
Currency.

Required (R)

40 Net Amount in R n-17 The total net amount of this
transfer agent, reported on the
advisement in Payment
Currency.
42 Reason R a-128 The reason why a transfer
agent net position amount is
below the minimum limit.
43 Member Totals R n-3 Three-digit code which
in Payment indicates the currency in which
Currency XXX the customer is paid or pays to
settle their activity.
Currency same value date for this
(Originated) customer that was activity
submitted by the customer,
Payment Currency.
Currency same value date for this
(Received) customer that was activity
received by the customer,
Payment Currency.
48 Member Totals R n-18 The total net amount of all
Currency (Net same value date for this
Amount) customer, reported on the
Currency.

Required (R)

50 Account Totals R n-3 Three digit code which
in Payment indicates the account payment
Currency XXX currency for this transfer
agent.
(Originated) account that was activity
submitted by the customers,
Payment Currency.
(Received) account that was activity
received by the customers,
Payment Currency.
55 Account Totals R n-18 The total net amount of all
Currency (Net same value date for the
Amount) account, reported on the
Currency.

Final Settlement
Appendix B Final Settlement

Mastercard enabled courtesy email notifications alerting customers of open or outstanding
settlement positions and funds, or both, not yet applied.
Final Settlement Details...............................................................................................................290

Open Settlement Invoices....................................................................................................... 290
Outstanding Net Debit Settlement Position and Payments Received........................................ 291

Final Settlement
Final Settlement Details
Final Settlement Details

Details regarding these notifications can be found in the information below.
If you wish to enroll, contact customer support at
Global_Settlement_and_Reconciliation_Support@mastercard.com and update the appropriate
contacts within My Company Manager.
NOTE: Failure to receive a courtesy notice does not relieve a customer from being assessed
non-compliance fees when sufficient funds are not received by the value date.
Open Settlement Invoices

The ‘Open Settlement Invoices’ notification is generated in the event Mastercard has not
received funds for a settlement position by the value date.
This notice requires immediate attention from the customer. Customers with open invoices
should immediately remit payment to Mastercard to satisfy all outstanding settlement
positions.
Figure 1: Sample notification
Table 1: Field Descriptions
Term Description
ICA ICA number assigned to Customer
ICA Name Name of Customer
Settlement Date Date Settlement Position was Due

Final Settlement
Outstanding Net Debit Settlement Position and Payments Received
Term Description
Days Outstanding Number of days the Settlement Position has not
been paid
Currency The currency of the settlement position
Settlement Position Net Debit Settlement Position

The ‘Outstanding Net Debit Settlement Position and Payments Received’ notification is
generated in the event Mastercard receives a payment less than the settlement position owed
to Mastercard.
This notice requires immediate attention from the customer. Customers with open invoices
should immediately remit payment to Mastercard to satisfy all outstanding settlement
positions.
Figure 2: Sample notification

Final Settlement
Section descriptions
‘Open settlement positions’ refers to settlement positions for which Mastercard has not
received sufficient funds to cover the amount due by the value date.
Figure 3: Open settlement positions
When Mastercard has received payments which do not satisfy open settlement positions the
payment details are outlined in the section below.
Figure 4: Mastercard has received the following payments, which do not satisfy the open
settlement position above
Table 2: Column Descriptions
Term Description
ICA ICA number assigned to Customer
ICA Name Name of Customer
Date Received Date Mastercard received the payment
Currency The currency of the payment
Original Funds Received Original amount of payment received by
Mastercard
Funds Not Yet Applied Remaining funds on hand available for use
towards future settlement positions.

Notices
Notices
Following are policies pertaining to proprietary rights, trademarks, translations, and details
about the availability of additional information online.
Proprietary Rights
The information contained in this document is proprietary and confidential to Mastercard International
Incorporated, one or more of its affiliated entities (collectively “Mastercard”), or both.
This material may not be duplicated, published, or disclosed, in whole or in part, without the prior written
permission of Mastercard.
Trademarks
Trademark notices and symbols used in this document reflect the registration status of Mastercard
trademarks in the United States. Please consult with the Global Customer Service team or the Mastercard
Law Department for the registration status of particular product, program, or service names outside the
United States.
All third-party product and service names are trademarks or registered trademarks of their respective
owners.
Disclaimer
Mastercard makes no representations or warranties of any kind, express or implied, with respect to the
contents of this document. Without limitation, Mastercard specifically disclaims all representations and
warranties with respect to this document and any intellectual property rights subsisting therein or any part
thereof, including but not limited to any and all implied warranties of title, non-infringement, or suitability
for any purpose (whether or not Mastercard has been advised, has reason to know, or is otherwise in fact
aware of any information) or achievement of any particular result. Without limitation, Mastercard specifically
disclaims all representations and warranties that any practice or implementation of this document will not
infringe any third party patents, copyrights, trade secrets or other rights.
Translation
A translation of any Mastercard manual, bulletin, release, or other Mastercard document into a language
other than English is intended solely as a convenience to Mastercard customers. Mastercard provides any
translated document to its customers “AS IS” and makes no representations or warranties of any kind with
respect to the translated document, including, but not limited to, its accuracy or reliability. In no event shall
Mastercard be liable for any damages resulting from reliance on any translated document. The English
version of any Mastercard document will take precedence over any translated version in any legal
proceeding.
Information Available Online

Mastercard provides details about the standards used for this document—including times expressed,
language use, and contact information—on the Publications Support page available on Mastercard
Connect™. Go to Publications Support for centralized information.


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Summary of Changes, 21 July 2020

Description of Change Where to Look

Delete topic “Chile Peso Regional Service—

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Description of Change Where to Look

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Summary of Changes, 21 July 2020....................................................................2

Chapter 1: Settlement Concepts........................................................................ 10

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Chapter 2: Regional Settlement Services for All Licensed

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Peruvian Sol Regional Service-LA000PEN04 ..................................................................... 95

Chapter 3: Intracurrency Settlement Services for All Licensed

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Bosnia and Herzegovina Convertible Mark—EU00097701..............................................138

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Chapter 4: Net Settlement Information Form Instructions.................247

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Settlement Requirements for All Customers....................................................................250

Appendix A: Net Settlement Advisements.................................................264

Appendix B: Final Settlement ...........................................................................289

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Chapter 1 Settlement Concepts

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Failure of Customer to Settle.........................................................................................................56

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Participation in Mastercard Settlement

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To participate in Mastercard Settlement, and as a condition of continued participation in

NOTE: Refer to Mastercard Rules for definitions of capitalized terms.

Initial and continued participation in Mastercard Settlement by a customer is further expressly

©1999-–2020 Mastercard. Proprietary. All rights reserved.

Best Practices for Settlement

Settlement Payment Tips

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Settlement Finality and Discharge

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Interbank Settlement Systems The settlement obligation of a net-debit customer is deemed

Book Transfer The settlement obligation of a net-debit customer is deemed

Net Settlement Information Form

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Mastercard Transaction Processing Systems

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Settlement Operational Flow

Clearing systems include:

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Supported Payment Process Flows

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• Pay Thru Settlement (Three Party)

Standard Settlement-Two Party

1. At settlement service cutoff, Mastercard sends an advisement, if requested by the

WHEN the customer... THEN...

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NSIF Instructions for Standard Settlement (Two Party)

Section/Field within NSIF Information Required

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Section/Field within NSIF Information Required

Consolidated Transfer Agent Member ID Not Applicable

Section VI: Daily Net Settlement Advisement

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Section/Field within NSIF Information Required

Standard Settlement (Three Party)