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Old Jan 4, 2013 | 4:53 pm
  #1333  
mrp20
 
Join Date: Jun 2011
Location: East Coast
Programs: AA/DL/UA, SPG/HH
Posts: 154
the jungle does not allow you to register for a personal account with a business EIN instead of your SSN in my experience, which may pose a constraint if you've already created a personal account with your SSN. i don't have any experience with their business accounts, but they charge fees to receive payments as a "merchant".

it may be a lot easier and faster (though 3% upfront is common) to just do a 0% BT from your business credit card if it's from a different issuer...PM me for details if interested and relevant to your situation.

also, transferring enough through the jungle to pay your own salary might push you over the IRS limits for amazon reporting your transactions to the IRS if you *also* plan to make lots of smaller transactions in hopes of staying under the radar, as some here do. from amazon's perspective 2 accounts (assuming you already have one) x 1K/month x 12 months is > $20K, so you'd need to avoid hitting the 200 transaction limit...an easy thing to be mindful of (amazon cuts you off at 190 on each account), but still something to keep in mind with larger spending amounts.

the more paranoid among us occasionally worry that if jungle cardinals catch wind that the 200-transaction limit could become important at the level of the person whose SSN is tied to credit cards and/or bank accounts, even if they don't approach the same limit at the level of SSNs tied to jungle accounts. authorized users & such can further muddy the waters. the jungle currently limits you to 190 transactions per account, and yet 150 transactions to a personal bank account + 150 transactions to a business checking account is still more than 200. the importance you ascribe to this scenario primarily depends on your level of paranoia.

the AP terms refer to the $20K threshold in terms of net payments received (not sent), but 200 may not be a very large limit for transactions if withdrawals are later counted as separate transactions, for example, or if receiving a payment and withdrawing the same amount are counted as separate transactions in the future. so again, your level of paranoia may further complicate your best guesses on how the rules of the jungle may change in the future.

in any case, it's best to use discretion, NEVER CALL, and obviously never skirt around IRS rules in letter or spirit because you never know how much smarter the cardinals in the jungle might become.
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