International Visa Credit Transactions
Thursday, 19 December 2019
Effective 19 December 2019, Qudos Bank will no longer accept internationally originated Original Credit Transactions (OCT's).
An OCT is a VISA transaction that lets clients and participants send funds to an eligible VISA account. This will not impact Domestic Visa credit transactions, but rather, only transactions that allow a person or business to receive funds internationally directly to their VISA cards.
Typical transactions that may potentially be blocked are credits (payouts) from online gambling and gaming merchants and other online platforms crediting accounts for international share purchase or digital currency.
Customers are encouraged to reach out to merchants who they believe may be impacted by this to make alternative arrangements for paying out/crediting their accounts.
Please note: This only impacts International Credits and reversals to Visa Cards (OCT’s) and does not impact international refunds on purchases.