It probably is resolved. None of the other people getting visits reported any follow-up visits, and the CID group is not as interested in finding small income tax liabilities as they are in finding big activities that result in jail time. It also explains the unexpected visit with no appointment. They want to see if they can observe any activity generating large sums of cash.

I imagine you can sue them. What was so suspicious about him depositing his own money.

Did you normally deposit MO on ATM or with cashier?

It likely doesn't matter. The analysis and reporting goes on in the back office. You might have a great relationship with a teller, but that don't meant squat if your pattern of deposits raises a red flag.

I imagine they would lose. And by 'imagine' I mean 'know.'

It is suspicious when someone deposits significantly more into a bank account than they make in a year. Simple math problem, what is $40,000 X 52? If you guessed "more than $2MM," then you are correct. While I have no idea how much the person who was referenced made in a year, if they have time to buy and deposit that many MOs in a week, likely they are depositing at least an order of magnitude more money in a year than they make. I can assure you that any reasonable person would find that suspicious.

The point isn't how much money was deposited but that they would put a derogatory report on chexsystem. It's all speculative, anyway.

FWIW, I closed the account that I believe caused me this issue before they auto-closed next month. Since the door is rapidly closing on 5x right now the lose of the account shouldn't hurt to much. I will check in with Chex in am few months and if there is any derogatory remarks I will followup with the bank and Chex and if no resolution start running through the gamut of complaints (BBB, etc.)

I don't think a reasonable person of reasonable intelligence would still be able to find it suspicious after an explanation is given, with facts/card statements/receipts to back up the explanation if necessary...

Those are facts that were not made available to the bank at the time the report was filed and likely not afterwards either. Therefore, their existence does not make the bank's actions a tort. Better yet, by the time they spend tens of thousands of dollars on litigation and several years to get to a jury, the mark will be off their record and no remedy will be available.

This is WAY outside of the experiences of average people. The sorts of things people on this board do, from buying millions of dollars worth of $1 coins, to flying cross-country with hundreds or thousands of <$10 gift cards that they can cash in CA, to buying millions of dollars worth of VR cards that they use to buy MOs, to flying around the world and back in a day just for the EQMs, are insane.

I stood behind two guys in line waiting for food and the one was saying how the Capital One Venture card is the best travel card out there. He probably gets a couple free round-trip domestic economy tickets or maybe a free ride to Europe each year. Meanwhile, my wife and I have gotten about 1 million AA miles a year for the past 5 years. It is two different worlds.

Most people have problems balancing their checkbook. That these kinds of financial gymnastics would make sense to a lot of people is likely a stretch.

The part that was a bit frustrating for me is that I did make the facts known to the bank in advance. Talked with one of their back offices and explained exactly what I was doing. Even mentioned this to the LEOs that showed up after I explained the entire process to them. They couldn't confirm who it was verbally, but I'm reasonably certain of what occurred. I suspect it was a different back office that had limited or poor communications with the back office I talked with.

I agree though this is definitely outside of the norm. I've always tried to be forward thinking, but even a year ago I can't even imagine I would have undertaken this endeavor. I still find it amazing how many people I see that spend 10% to transfer money to someone else or spend money to cash a check. I understand its a completely different world.

IMO, anyone who's depositing a huge amount of MOs per day/week/month (that can't be justified by a business or having high income) should think more than twice about suing any bank that shuts them down for reasons of suspicious activities. The negative report to chexsystem is just secondary and it may/may not happen with the bank shutdown. I understand this country is sue-happy and many will sue for anything and everything but hopefully MSers would use their best judgment before filing a case where they're opening their financial records to scrutiny.

It is possible that the people you talked to were gone by the time this happened. I am not sure about back-office types, but I was told by security at Credit Unions that tellers last on average less than 7 months. This is why they don't do a lot of training, turnover is too high and it is cheaper to pay insurance for losses then train people.

what do you mean by 'back offices'? from most discussions I've read, mention of back office pertained to the bank's Risk Management Group and/or Asset Protection Department. It has been mentioned that when they make decisions to shut down accounts, not even the bank managers can override it. If you meant the RMG or APD, I didn't know clients can request to speak to them about their account.

Its possible they asked to speak with him initially. But either way, explaining to them what you are doing is not automatic grounds for them to not shut you down. They most likely still would not want your business as you require a lot of paperwork without any benefit to them.

Meh - leave it to the lawyerfolk to encourage MS folk to mount an MS insanity defense :rolleyes: when we know that in the looking glass world of MS, the activities IkeEsq mentions are entirely rational and profitable. :p