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Old Sep 19, 19, 3:01 pm
  #299  
GundamWing01
 
Join Date: Sep 2017
Location: SFO/LAX/SAN/LAS/JFK/LGA/EWR
Posts: 323
Originally Posted by iahphx View Post
So I have not been shut down, but a national bank called me the other day to tell me that they've detected "manufactured spending" in my account because they've noticed I've been depositing money orders into that account. They told me I can't do that because the regulators don't like it, and that I should stop. I obviously will stop. I didn't actually deposit "that many" MOs into that account, probably about $1000/month for a few years, although in the weeks before the phone call, I had deposited around $2000, all online. This makes me worry that ALL banks are now devoting more effort to monitor money order deposits, and that this will be the ultimate "problem" with doing credit card MS. I mean, if depositing $2000/month in proceeds is "a problem," how the heck are the heavy hitters playing this game without problems? Do you have to find a "stupid bank" that you don't care about and just hope they don't notice your MO deposits? And if a bank does notice, do they share this information in any way with other banks, or with regulators? It just feels to me that the risks of doing this totally legal activity how now increased, even for folks who just buy a few MOs a month to meet minimum spends.
can you give us more details of this "national bank"? 2k/mo is super low. i assume its either a small CU or something else triggered. even for remote deposit, 2k is low, but i have definitely heard of shut downs by local CUs for 2-3k/mo MO depo. some banks are more sensitive than others. thats why its always a game to find banks that "allow" much higher.

Last edited by GundamWing01; Sep 20, 19 at 11:02 am
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