Originally Posted by
halamadrid
It seems like it was the large ACH transfers that triggered everything. There was a somewhat connected report on about people having their Chase accounts locked when using ACH to fund their accounts. While this is not the same situation here, in the post it mentions that large ACH transactions seem to trigger a security risk alert on Chase's end. Once the ACH transfers triggered the security alert for your accounts, everything else (large giftcard purchases) probably didn't help. The second indicator that this was indeed the cause are the letters you received with one closing your banking accounts and the cc shutdown letter stating that they were closed because their affiliate (banking side) terminated their relationship with you; so once the banking side shut you down the cc's followed.
Yeah I was kinda thinking the banking side due to the letter as well but I saw some other posts of people doing the MS on the chase ink and they had the same letter atleast on Points guy.
the letter was same as mine. I don’t know know why getting a large ACH from another bank account is a red flag when that’s how I get my sales. I had been doing the Chase Ink 5 times gift card thing for years to be honest and never any issues. Hell they raised the credit limit to 35k on the card just recently without me asking for the raise. I had previously got ACH from this customer for a few years but recently stepped up the sales to this customer. Have also got Large ACH from PayPal and Amazon for years as well. Bottom line is DONT bank at chase if you are going to have any activity in your account beyond Direct deposit and normal expenses. I can’t really say without certainty what it was that shut me down. Could of been combination of Large ACH and Large gift card purchases all at same time and this was looked at as potential ML and they will shut accounts down for that very quickly. I never put or withdrew cash from this account for the last 5 years. My new business bank account will not be at any bank that provides credit cards that are worth anything... it’s not really the end of the world as I have prolly got over 30k worth of rewards from chase over the years. I have 1.3 million of chase points I am being forced to transfer or liquidate now. The only thing that sucks is that I won’t have access to UR or Southwest, United, or HyAtt in the future or any of chase lucrative signup bonuses on so many of their cards.