FlyerTalk Forums

FlyerTalk Forums (https://www.flyertalk.com/forum/index.php)
-   Manufactured Spending (https://www.flyertalk.com/forum/manufactured-spending-719/)
-   -   Suspicious Activity Reports to the IRS when buying or depositing money orders. (https://www.flyertalk.com/forum/manufactured-spending/1438710-suspicious-activity-reports-irs-when-buying-depositing-money-orders.html)

FlightNurse Jul 29, 2013 10:38 pm


Originally Posted by TheDapperDon (Post 21178440)
What limits do you all impose on yourselves per bank with regards to deposits?

something I thought about is, send the MO to the bank as your payment skip the deposit

farwest101 Jul 30, 2013 1:03 am


Originally Posted by FlightNurse (Post 21180558)
something I thought about is, send the MO to the bank as your payment skip the deposit

I tried that for about a month. Chase didn't like it one whit. Accused me of "structuring" and said they'd "sever" the relationship if I didn't stop (most of mine were below $3K, but some were $4-$5K).

Easier to simply deposit MOs at banks - you can pick local banks that can cut you off if they don't like your activities - don't want to sever important relationships at banks you'd like to keep.

vagrants Jul 30, 2013 7:46 pm


Originally Posted by shopper711 (Post 21177672)
I snap a photo of MO and receipt, the I fill out the info with for dep only on the back. I discard the receipt and MO stub.

Are you talking about mobile deposit? A couple of institution I tried seemed like they accept only Postal Money Order...the CSRs I talked told me any brand MO...perhaps, I need a smartphone w/ a good cam.

metoo Aug 5, 2013 7:12 pm

I just started purchasing Chase GCs, $7500 for this past month over 3 CC.

I bought 6 money orders each in the amount of $499.30. I deposited at B of A for 3 consecutive days , just short of 1k each day.

Do I need to be concern?

I plan to buy 4 to 6k of money order each month and deposit 1k at a time whenever I go to B of A.

Should I be concern?

KYBOSH Aug 5, 2013 9:01 pm

Im not a fan of depositing MOs via mobile apps.
Not sure why... maybe its the delay in posting which can be a little longer than a check.
I've read that while some bank's app will accept the MO the bank will come back later and say they wont clear it for some reason.

For me, its best to just deposit them into the ATM machine. Funds available the next day and I never have to worry about them coming back with an issue.

vagrants Aug 5, 2013 9:30 pm


Originally Posted by KYBOSH (Post 21221463)
Im not a fan of depositing MOs via mobile apps.
Not sure why... maybe its the delay in posting which can be a little longer than a check.
I've read that while some bank's app will accept the MO the bank will come back later and say they wont clear it for some reason.

For me, its best to just deposit them into the ATM machine. Funds available the next day and I never have to worry about them coming back with an issue.

Not using Discover Bank for $0.10?

dogbyte Aug 5, 2013 10:21 pm

How are people able to deposit MOs via the mobile app? I have both a Chase and BoA accounts and I am unable to deposit the WM MOs using the app.

happy9zz Aug 5, 2013 10:57 pm

dont deposit too many MOs

FlightNurse Aug 6, 2013 12:18 am


Originally Posted by metoo (Post 21220975)
I just started purchasing Chase GCs, $7500 for this past month over 3 CC.

I bought 6 money orders each in the amount of $499.30. I deposited at B of A for 3 consecutive days , just short of 1k each day.

Do I need to be concern?

I plan to buy 4 to 6k of money order each month and deposit 1k at a time whenever I go to B of A.

Should I be concern?

SO let me ask you this... Why are you worried after the fact? Did you NOT research this before jumping on the bandwagon???

AlohaDaveKennedy Aug 6, 2013 5:39 am

Indeed, dear old Fang likes to kill what doesn't look "normal" and the "S" word is very bad. When a banker says "structuring" or "scheme" you just ain't gonna be feeling the love. Over at BoA Fang hangs out in Risk/Closure. If you ever hear that name you have been excommunicated.


Originally Posted by farwest101 (Post 21180975)
I tried that for about a month. Chase didn't like it one whit. Accused me of "structuring" and said they'd "sever" the relationship if I didn't stop (most of mine were below $3K, but some were $4-$5K).

Easier to simply deposit MOs at banks - you can pick local banks that can cut you off if they don't like your activities - don't want to sever important relationships at banks you'd like to keep.


pcharles Aug 6, 2013 6:00 am


Originally Posted by AlohaDaveKennedy (Post 21222859)
Indeed, dear old Fang likes to kill what doesn't look "normal" and the "S" word is very bad. When a banker says "structuring" or "scheme" you just ain't gonna be feeling the love. Over at BoA Fang hangs out in Risk/Closure. If you ever hear that name you have been excommunicated.

What's wrong Dave, you're using plain english now? :p

metoo Aug 6, 2013 6:34 am


Originally Posted by FlightNurse (Post 21222175)
SO let me ask you this... Why are you worried after the fact? Did you NOT research this before jumping on the bandwagon???

Yes, I researched this but just looking for confirmation as I am planning on continuing this with B of A :confused:

TheDapperDon Aug 6, 2013 6:51 am

I actually reached out to the relative of a friend at a local credit union. They mentioned that they prefer MOs over a bad check. She didn't seem to know that I would get any bad scrutiny for depositing them.

I'm going to start mixing in some payments I think. Once I get my second BB, I won't have to worry about this as much.

FlightNurse Aug 6, 2013 8:04 am


Originally Posted by metoo (Post 21223053)
Yes, I researched this but just looking for confirmation as I am planning on continuing this with B of A :confused:

Each bank handles thing differently, I don't bank with BoA for a couple of reasons..

Bean Aug 6, 2013 9:07 am


Originally Posted by FlightNurse (Post 21180558)
something I thought about is, send the MO to the bank as your payment skip the deposit

Even better...pay at a local branch (if you have one).
I'm lucky enough to have multiple Citi and Chase branches near me. Walk in, swipe your card, hand over MOs, get receipt. Done.


All times are GMT -6. The time now is 12:02 pm.


This site is owned, operated, and maintained by MH Sub I, LLC dba Internet Brands. Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Designated trademarks are the property of their respective owners.