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Old Aug 28, 17, 6:57 pm
  #375  
barschools
 
Join Date: Jul 2015
Programs: SW,SPG,Hyatt
Posts: 87
Shutdown by Santa Rosa County Federal Credit union
Account open for 13 Months
Average account balance for checking is hard to say. Fluctuated quite a bit.
MS volume 80-100k for 7 months. Took a 5 month break and got shutdown for doing 90k this month

Bad news for me today as I got a phone call informing me that I can no longer deposit MOs or checks in my account. The account remains open and I can continue to deposit cash or use my debit card. I had a fairly long and fairly pleasant conversation with the lady. When I asked her why I was restricted she mentioned red flags from auditors for money laundering suspicion. I explained what I was doing and she said she knew I was engaging in MS and thought that I was taking advantage of the credit card companies. I told her that the more MS I did the more the credit card companies raised my credit limits and that is seems like they would shut me down if they didn't like what I was doing. Then I think I got the real truth out of her. She said that my account was costing them money because I move the money out so fast and it cost them to process so many money orders. She said once more that I was free to deposit cash. To me, that would look more like money laundering than depositing MOs. Anyway a bad day for me. I might retire from heavy MS and take up credit card churning. Too much trouble to open multiple accounts and make small deposits to each. I had a good thing going, sucks that its gone. If anyone knows of banks or CUs that will tolerate high volume MO deposits please respond or PM. Thanks.
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