Due to a MasterCard® mandate, your Financial Access Federal Credit Union MasterCard® will automatically be in enrolled in the Mastercard® Account Updater. This service will provide updates to merchants who maintain card-on-file (COF) account information to process recurring customer payments, such as subscriptions or utlity companies. These services will assist with reducing the number of declined transactions due to expired cards, lost/stolen cards, or other card-related changes not reported by the cardholder to impacted merchants.
What does this mean for you, the cardholder?
If your MasterCard® credit card is expired, lost/stolen or closed for any other purpose, merchants that you have authorized to take recurring payments out of your account will still be able to process those payments.
You can opt out of this service by completing the online MasterCard® Account Opt-Out Updater form below: