Rules and Policy

As a U.S. company, Stockbacking Inc. and its affiliates must comply with U.S. law, including trade sanctions administered and enforced by the Office of Foreign Assets Control (OFAC). OFAC prohibits or restricts transactions with certain countries, organizations, and individuals. For example, there are countrywide prohibitions for Iran, Sudan, and Syria. More information about OFAC can be found on the U.S. Treasury Department’s website.

In addition, Stockbacking issuers outside of the U.S. may also be required to comply with their country’s designated sanctions list as well.

In general, no. The Stockbacking service offer a “partial to full cards self-sufficiency based on spending with credit or debit cards” means that you should be able to use your card anywhere your card issuer is accepted. An issuer is not permitted to block all transactions from a specific location or merchant type. However, there are some exceptions permitted, for example, if local regulations require the issuer to block certain transactions or Stockbacking has allowed the issuer to temporarily decline transactions based on an immediate fraud threat. Note that cards issued in countries with laws that limit international use will have a “Valid Only in (Country)” legend printed on the card. 

Stockbacking has strict rules about currency conversion when use a card affiliate to Stockbacking outside the country where it was issued. You must be given the opportunity to have the transaction processed in the local currency and stocks (if is the case) For example - If you made a purchase at McDonalds in the Europe region the Stockbacking process its service in favor of McDonalds Corporation Quotes at Europe such at Frankfurt, TradeGate or Xetra. If you want to follow your purchase regarding Stockbacking service, click here. 

In general, a merchant is not permitted to establish a minimum or maximum amount for a transaction with Stockbacking affiliated cards. However, exceptions apply in the US and US territories, such as Puerto Rico, the US Virgin Islands, and Guam. In those places and for credit cards only, a merchant may require a minimum transaction amount of US $ 10 and government agencies and educational merchants may set a maximum transaction amount. If a merchant refused to accept your Stockbacking affiliated card on the basis that the merchant requires a minimum or maximum amount on a debit card, or that the amount on a credit card is greater than US $ 10, please notify to your card issuer.

In general, a merchant is permitted to ask for identification but cannot require it as a condition of Stockbacking affiliated card acceptance. However, there are exceptions, for example, if Stockbacking has granted the merchant permission to require identification under certain circumstances for fraud control. 

No, because all your Stockbacking affiliated card transactions will be reflected on your card issuer balance statement.

In general, no. Surcharging is currently permitted in Australia, Mexico, and New Zealand, and on certain credit card transactions in the U.S.

Surcharging is not allowed everywhere in the U.S. Currently, there are laws prohibiting or limiting surcharging in California, Colorado, Connecticut, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas. Merchants should consult their legal advisors to understand their ability to surcharge credit products in these states. Surcharging on debit is never allowed in the U.S.

State: Colorado

"[N]o seller…may impose a surcharge on a holder who elects to use a credit or charge card in lieu of payment by cash check or similar means…" 

Statute: Colo. Rev. Stat. Ann. § 5-2-212(1) (West)

Discounts for Cash Payments are allowed in Colorado.

"Discounts offered to induce payment by cash, check or other means not involving credit card are not finance charges if offered to all prospective buyers and disclosed clearly and conspicuously in accordance with regulations."

Statute: Colo. Rev. Stat. Ann. § 5-2-212(2) (West)

Statutes cover: Credit Cards only

Statute: (See Colo. Rev. Stat. Ann. § 5-1-301(16), (16.5), (24), (43) (West)).1

Colorado State Attorney General

State: Connecticut

"No seller may impose a surcharge on a buyer who elects to use any method of payment, including, but not limited to, cash, check, credit card or electronic means…" 

Statute: Conn. Gen. Stat. Ann. § 42-133ff(a) (West)

Statute: Id. at § 42-133ff(d).

Statute covers: Credit & Debit.

No surcharges on travel agents

"No provider of travel services may impose a surcharge on or reduce the commission paid to a travel agent who acts as an agent for such provider if the buyer uses a credit card to purchase such provider’s travel services." 

Statute: Conn. Gen. Stat. Ann. § 42-133ff(e) (West)

Statute does not define credit card to include debit card.

Connecticut State Attorney General 

Connecticut Department of Consumer Protection

State: Kansas

"No seller…or any credit card issuer may impose a surcharge on a card holder who elects to use a credit card in lieu of payment by cash, check or similar means."

Statute: Kan. Stat. Ann. § 16a-2-403

Discounts for Cash Payments are allowed in Kansas.

Attorney General’s opinion interprets section 16a-2-403’s predecessor statute to not prohibit discounts for payments made by cash, check or similar means.

Statute: Kan. Op. Attorney Gen. 86-115, 1986 WL 238345 (1986)

Statutes cover: Statutes do not define credit card to include debit card.

Statute: (See Kan. Stat. Ann. §§ 16a-1-301(18), (19))

Kansas State Attorney General

State: Maine

"No seller…may impose a surcharge on a cardholder who elects to use a credit card in lieu of payment by cash, check or similar means." 

Statute: Maine Rev. Stat. Ann. tit. 9-A, § 8-303(2) (See also id. § 8-103 (definitions and rules of construction))

Discounts for Cash Payments are allowed in Maine.

Discount offered to induce payment by cash, check or other means not involving a credit card not considered a finance charge if offered to all prospective buyers and disclosed clearly and conspicuously.

Statute: See Maine Rev. Stat. Ann. tit. 9-A, § 8-303(3)

Statutes cover: Credit cards only.

Statute: (See Maine Rev. Stat. Ann. tit. 9-A, § 1-301(15), (16)).1

Maine State Attorney General

State: Massachusetts

"No seller…may impose a surcharge on a cardholder who elects to use a credit card in lieu of payment by cash, check or similar means."

Statute: Mass. Gen. Laws Ann. ch. 140D, § 28A(a)(2) (West)

Discounts for Cash Payments are allowed in Massachusetts.

Discount offered to induce payment by cash, check or other means not involving a credit card not considered a finance charge if offered to all prospective buyers and disclosed clearly and conspicuously.

Statute: Mass. Gen. Laws Ann. ch. 140D, § 28A(b) (West)

Statutes cover: Credit cards only.

Statute: (Mass. Gen. Laws Ann. ch. 140D, § 1 (West))

*Massachusetts State Attorney General

(* external link implies no endorsement by state of Massachusetts) 

State: Oklahoma

"No seller…may impose a surcharge on a cardholder who elects to use a credit card in lieu of payment by cash, check or similar means." 

Statute: Okla. Stat. Ann. tit. 14A, § 2-211, -417 (West)

Discounts for Cash Payments are allowed in Oklahoma.

Discount offered to induce payment by cash, check or similar means not involving an open-end credit card not considered a credit service charge if offered to all prospective buyers clearly and conspicuously in accordance with regulations.

Statutes cover: Credit cards only.

Statute: (See Okla. Stat. Ann. tit. 14A, § 1-301(7), (9), (19)

Oklahoma State Attorney General

In certain countries, for example in the U.S., and some countries in Asia, a merchant is permitted to charge a convenience fee to the customer. The fee must be a flat fee (not a percentage of the transaction amount), clearly disclosed, and represent payment for the convenience of paying through an alternate payment channel (such as online) that is different than the merchant’s normal payment channel (for example sending a check through the mail or paying in person).

Certain merchants (for example, government, education) in Canada, Egypt, and the U.S. are permitted to assess service fees on your Card Issuer transactions. 

A merchant is permitted to offer discounts for paying in cash, however, the discount must be given as a reduction from the standard price. 

In certain countries (Australia, Canada, India, South Africa, U.S.) a merchant is permitted to provide cash-back as part of a Card transaction, under specific circumstances and on certain card types (for example, debit cards). Cashback is only permitted when the Stockbacking affiliated card was issued in the same country as the merchant location.

In general, a merchant is not permitted to establish a minimum or maximum amount for a Stockbacking affiliated card transaction. However, exceptions apply in the U.S. and U.S. territories, such as Puerto Rico, U.S. Virgin Islands, and Guam. In those locations and only for credit cards, a merchant may require a minimum transaction amount of U.S. $10 and government agencies and education merchants may establish any maximum transaction amount. 

In general, a merchant cannot provide a receipt for Stockbacking affiliate transactions. However, all the transactions will be reflected at consumers Stockbacking affiliated card balance statement as any common transaction with a merchant. Without need required to provide a receipt upon the cardholder’s request. In addition, the merchant is not required to provide a receipt for a low-value transaction at an unattended terminal, such as a vending machine. For more information, please contact your Issuer acquirer.

In general, no. Surcharging is currently permitted in Australia, Mexico, and New Zealand, and on certain credit card transactions in the U.S. Surcharging is not allowed everywhere in the U.S. Currently, there are laws limiting surcharging in Colorado, Connecticut, Kansas, Maine, Massachusetts, and Oklahoma. California's and New York's laws limiting surcharging have been enjoined from enforcement pursuant to court orders, but appeals are pending. An order upholding Florida's law limiting surcharging was reversed on appeal but remains subject to further litigation.

In certain countries, for example the U.S., and some countries in Asia, a merchant is permitted to charge a convenience fee to the customer. The fee must be a flat fee (not a percentage of the transaction amount), clearly disclosed, and represent payment for the convenience of paying through an alternate payment channel (such as online) that is different than the merchant’s normal payment channel (for example sending a check through the mail or paying in person).

For more information, please contact your Issuer acquirer.

Certain merchants (for example, government, education) in Canada, Egypt, and the U.S. are permitted to assess fixed or variable service fees on Stockbacking affiliated Card transactions. 

Generally, Stockbacking is the solely method to committing and allocating the benefits of the cards to the only fixed income securities instrument in the world, to obtain a partial to full self-sufficiency of the cards. Additionally, all consumption of products or services directly and indirectly related to a listed company, grants self-sufficiency points that allow the consumers to increase the versatility of our self-sufficiency service in they affiliated cards; So, Stockbacking is NOT a method of payment, collection, or enforcement of a contract. For more information, contact your Issuer acquirer.

You should attempt to read the magnetic stripe on the card or try by contactless (if is the case). If the magnetic stripe cannot be read or the contactless, you can decline to accept the card or manually key-enter the account number into the terminal. Note, however that you may be subject to a chargeback on a manually keyed transaction and that any of the cases are unrelated to Stockbacking services. For more information, please contact your Issuer acquirer.