CUETS Card Communications
Change to Card Acceptance in Foreign Countries
Effective October 1, 2007, CUETS-issued MasterCard® credit card and GLOBAL PAYMENT MasterCard transactions will no longer be accepted in the following countries: Iran, Myanmar (Burma), North Korea, Sudan and Cuba.
If you have a MasterCard or GLOBAL PAYMENT MasterCard card, your card is accepted at more than 28 million locations worldwide, but there are a few places where it is not. When planning trips outside Canada, please be advised that our processing centre has recently stopped authorizing transactions originating in a number of countries, including Cuba, Iran, Myanmar, North Korea and Sudan. You will no longer be able to use their GLOBAL PAYMENT MasterCard cards in these countries, even if the business accepts other MasterCard cards.
We apologize for any inconvenience this may cause.
Frequently Asked Questions
Why will CUETS-issued products no longer be accepted in these countries?
Due to political situations internationally, which are subject to change, the direction of the corporation of which CUETS Financial Ltd. belongs is to not accept transactions from these specific countries. This situation is not unique to CUETS. Many financial entities and corporations worldwide are similarly impacted and have been for some time.
Why has such short notice been given for this change?
This is a corporate requirement which we recently became aware of through the current acquisition transition process. We shared this information immediately with credit unions after learning of the situation. We recognize the notice period is much shorter than what credit unions have come to expect from CUETS. Unfortunately, it could not be avoided and we apologize for any inconvenience this has caused.
Are CUETS issued MasterCard® credit cards and GLOBAL PAYMENT™ MasterCard cards affected?
Yes. Effective October 1, 2007, MasterCard branded credit card and GLOBAL PAYMENT card transactions attempted with CUETS Financial Ltd. issued card products in Iran, Myanmar (Burma), North Korea, Sudan and Cuba will no longer be processed.
How does CUETS know that only a few cardholders will be affected?
CUETS has analyzed both MasterCard credit card and GLOBAL PAYMENT MasterCard transactions from these specific countries over the last year. The analysis showed the volume impact is very small. In particular, of the approximately 34 million CUETS transactions that have occurred over the past year, only 694 GLOBAL PAYMENT transactions and 2,271 MasterCard credit card transactions were made in Cuba. No transactions were made in any of the other named countries.
Are other MasterCard and Visa® issuers affected by card acceptance restrictions in these countries?
This situation is by no means unique to CUETS Financial Ltd. There are other financial institutions and corporations worldwide that are not processing transactions in these countries.
What options do I have if I want to travel to these countries?
You can continue to use your MasterCard credit card and GLOBAL PAYMENT MasterCard cards to purchase travel arrangements, airfare, all-inclusive vacations, sightseeing tours, etc., prior to travelling to the subject countries. You can plan to use other payment alternatives, such as traveller cheques or cash, while in these specific countries only.
