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Old Nov 27, 2010 | 10:12 am
  #1744  
johndeere19
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Originally Posted by Happy
Considered yourself lucky that Chase only closed your account instead of filing an SAR on you. The account being brand new, with lots of cash deposits/ immediate withdrawal activities, has all the look of money laundering in the eyes of the bank compliance dept. Chase probably does not want the trouble to file SAR so simply close your account.
Definitely...I got a call from some branch of their compliance department asking what was going on with all the cash deposits (sounded like a precursor to a SAR) and told them the truth. This seems like it's what got my account canceled, but much better to tell the truth and lose a checking account than get a SAR and have to deal with that.
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