Apr 6, 2017, 2:38 pm
Last edit by: ChrisFlyer66
This is the thread for 2017. The 2018 discussion can be found here.
When reporting/posting here please give as many details as you can or you will be asked for it anyways. Copy and paste the text below and alter as needed.
1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and brcl@y)
2. Length of account before closure and CL?
3. Average monthly account balance checking and savings?
4. Volume of ms per month and how many months?
5. Cycle CL?
6. Did you BP using both options?
- BP by issuing bank (@m3x, chs3, c1t1 and brcl@y)
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
When reporting/posting here please give as many details as you can or you will be asked for it anyways. Copy and paste the text below and alter as needed.
1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and brcl@y)
2. Length of account before closure and CL?
3. Average monthly account balance checking and savings?
4. Volume of ms per month and how many months?
5. Cycle CL?
6. Did you BP using both options?
- BP by issuing bank (@m3x, chs3, c1t1 and brcl@y)
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
2017 Shutdown Thread
Aug 1, 2017, 11:18 pm
#331
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,674
they shut me down about two years ago after a similar volume and timeframe.
Aug 9, 2017, 10:14 pm
#332
Join Date: Jan 2015
Posts: 120
I read statements like "my bank is ok with my depositing 15K of MO per month". How does one know that w/o "destructive testing"? I assume one can increase the amount gradually, and when the limit is reached one will learn what it is, but then the account is closed.
Aug 10, 2017, 7:56 am
#333
Join Date: Jul 2016
Location: NY
Posts: 523
No need to destroy anything. Just have conversations with the right people at your bank.
Aug 10, 2017, 9:59 am
#334
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
The front office people can't really sanction your business. Few can actually talk to the risk closure folk who run analytics and flag account deposit patterns for closure. And of those of us who can, like this old auditor and fraud examiner, you still don't necessarily get a free pass . Since nobody these days is going to reveal their working large scale, legal paper recycling centers the best you can do is find the places that do not work. You are gonna have to play that classic Microsoft game, Minesweeper. 
Aug 11, 2017, 5:22 am
#335
Join Date: Jan 2015
Posts: 120
Could you give an example? I tried it once with a branch manager at BoA, and all he could say "deposit as much as you want, there is no legal restriction". Even if I could reach out to a risk manager, I am afraid his answer would be that they don't want that type of business at all.
Aug 11, 2017, 6:21 am
#336
Join Date: Aug 2013
Posts: 208
Could you give an example? I tried it once with a branch manager at BoA, and all he could say "deposit as much as you want, there is no legal restriction". Even if I could reach out to a risk manager, I am afraid his answer would be that they don't want that type of business at all.
Aug 11, 2017, 7:20 am
#337
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Even when bank management know and accept your business model, as my Citifolk did in Texas, the riskfolk shut down the operation after processing about 17 million over 3 years. As you note, there is no legal reason to do so.
I did not bother to talk to the riskfolk then as I always maintain at least a half dozen banking relationships so my cash flow never was impeded.
In the case of one of my credit unions, I had a long talk with their risk officer about my business model and she understood the dynamic of the business, legality of it, and the fact that it did not involve any of their bank cards. However, because her analytical tool was flagging the account and she was concerned about having to deal with bank auditors, she politely asked me to switch the operation to another institution. No account shutdowns, no closure any accounts, including address related accounts for my SO and kiddo.
Understand we are just bycatch to risk management, the dolphins caught in the tuna fishing nets. Nothing personal, but we are a bit of a back office nuisance.
Shifting gears, to understand the real nature of the customers bankers prefer type Wells Fargo loves baby seals into your Google secret decoder ring.
I did not bother to talk to the riskfolk then as I always maintain at least a half dozen banking relationships so my cash flow never was impeded.
In the case of one of my credit unions, I had a long talk with their risk officer about my business model and she understood the dynamic of the business, legality of it, and the fact that it did not involve any of their bank cards. However, because her analytical tool was flagging the account and she was concerned about having to deal with bank auditors, she politely asked me to switch the operation to another institution. No account shutdowns, no closure any accounts, including address related accounts for my SO and kiddo.
Understand we are just bycatch to risk management, the dolphins caught in the tuna fishing nets. Nothing personal, but we are a bit of a back office nuisance.
Shifting gears, to understand the real nature of the customers bankers prefer type Wells Fargo loves baby seals into your Google secret decoder ring.
Could you give an example? I tried it once with a branch manager at BoA, and all he could say "deposit as much as you want, there is no legal restriction". Even if I could reach out to a risk manager, I am afraid his answer would be that they don't want that type of business at all.
Aug 11, 2017, 8:17 am
#338
Join Date: Dec 2014
Posts: 74
Even when bank management know and accept your business model, as my Citifolk did in Texas, the riskfolk shut down the operation after processing about 17 million over 3 years. As you note, there is no legal reason to do so.
I did not bother to talk to the riskfolk then as I always maintain at least a half dozen banking relationships so my cash flow never was impeded.
In the case of one of my credit unions, I had a long talk with their risk officer about my business model and she understood the dynamic of the business, legality of it, and the fact that it did not involve any of their bank cards. However, because her analytical tool was flagging the account and she was concerned about having to deal with bank auditors, she politely asked me to switch the operation to another institution. No account shutdowns, no closure any accounts, including address related accounts for my SO and kiddo.
Understand we are just bycatch to risk management, the dolphins caught in the tuna fishing nets. Nothing personal, but we are a bit of a back office nuisance.
Shifting gears, to understand the real nature of the customers bankers prefer type Wells Fargo loves baby seals into your Google secret decoder ring.
I did not bother to talk to the riskfolk then as I always maintain at least a half dozen banking relationships so my cash flow never was impeded.
In the case of one of my credit unions, I had a long talk with their risk officer about my business model and she understood the dynamic of the business, legality of it, and the fact that it did not involve any of their bank cards. However, because her analytical tool was flagging the account and she was concerned about having to deal with bank auditors, she politely asked me to switch the operation to another institution. No account shutdowns, no closure any accounts, including address related accounts for my SO and kiddo.
Understand we are just bycatch to risk management, the dolphins caught in the tuna fishing nets. Nothing personal, but we are a bit of a back office nuisance.
Shifting gears, to understand the real nature of the customers bankers prefer type Wells Fargo loves baby seals into your Google secret decoder ring.
Aug 11, 2017, 8:30 am
#339
Join Date: Jul 2016
Location: NY
Posts: 523
Could you give an example? I tried it once with a branch manager at BoA, and all he could say "deposit as much as you want, there is no legal restriction". Even if I could reach out to a risk manager, I am afraid his answer would be that they don't want that type of business at all.
Aug 11, 2017, 10:50 am
#341
Join Date: Jun 2004
Location: IAD
Programs: All of them to one degree or another
Posts: 447
Aug 11, 2017, 6:49 pm
#342
Join Date: Dec 2009
Location: EWN/OAJ/RDU/ILM (Formerly BTV)
Programs: HH D i a m o n d !!!
Posts: 356
You need to drink at least 6 beers before AlohaDave starts making any sense. Or he needs to drink 6 before you make sense. Or else go spend 6 months reading the Trick It thread and then come back here and everything will make sense.
Aug 12, 2017, 4:32 am
#344
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Indeed, banks like to keep all their goblins and RATs well hidden and isolated from the public.
Last edited by AlohaDaveKennedy; Aug 12, 2017 at 4:40 am
Aug 12, 2017, 5:40 am
#345
Suspended
Join Date: Aug 2009
Location: Look up - On a ✈ DELTA ✈ jet NOW!
Programs: Blogger & Delta Diamond Medallion Million Miler
Posts: 4,174