No. The save data part of the card is not initialized. When you first bootup the game it will initialize it. Before it is initialized, data can not be read or written to the card.Can you transfer an EU/US save (far along enough to use Pokémon Bank) into a brand new Japanese copy of X/Y (with no save file) by simply backing up your save file via powersaves, decrypting it, and then injecting it into your JP cart with the cyber gadget software? I've seen it mentioned a few times but it can't be that simple surely?
About the cross region saves, iirc it should work, but dont quote me on it. Try looking for used games. Chances are they been played at least once.