Originally Posted by
maksimfa
I will have to bust out the T&C, but I am sure.... that in there, there are terms that say they can hold your funds if they deem suspicious.
Keep in mind guys, MS... LOOKS EXACTLY like people who steal your credit cards, money launderers, and others.
Anyone who thinks Bancorp makes money off of MS'ers has not run a bank.
Chase and other banks just got slapped with billion dollar plus fines by the government for failing to control money laundering.
Bancorp cannot afford that as they would be quickly out of business.
You are correct about what you say. MS does LOOK a certain way. But hey I have a tan in the summer and LOOK dark skinned. Does that mean I am Hispanic or Israeli? Just cuz I LOOK it?
But in my earlier posts I mention in my letters that I had been using THEIR bill pay system to pay my bill which is on their list and that I followed THEIR procedures and paid THEIR fees to do this.
How can the use of one's own funds and a card that already has all your information on it (SSN, DOB, address, etc) and a credit card and a bill pay service that involves ones own equity line possibly relate in any way to money laundering or be deemed suspicious? One would have to be the stupidest launderer in the world to use those things. The main aspect of the illegal practice is to HIDE money trails, not show it out in the open!
Bancorp doesn't need to investigate! That's a freakin' smoke screen! They already know everything once you sign up and get verified for the card they mail you!
The sheer fact is that the use of these things at the highest level that their TCs allows is something that does not generate
enough profit for them. And yeah, they don't want those who do not generate enough profit for them.
Ok fine, I get that. But what I am saying is, how can they legitimately even market and offer the product at that level if, when you actually go there, they suddenly deem it as bad and suspicious and make a reason up to shut you down and hold your money? How can that be acceptable by ANYONE in here reading this?
If it is, I think that reader is crazy!
Look people, we need to STOP the bleeding. To end the accepted practice of just waiting 3 months or going through the motions alone on each of these cases. I can think of many cases like the ones we have read about in here just today alone and a lot of these people had to deal with it on their own. Let us instead use this thread and ones like it to form ways to combat the problem head on and with a more unified approach, and to show these bastids we aint gonna stand for it no more!
If we do not, we have only ourselves to blame.