Originally Posted by
economyfly
There is literally nothing more to the story. Deposited a handful of mo's and got frozen. New account and its frozen due to suspicious activity. I wasnt able to withdraw anything as ach pull bounced and got hit with fee from credit card. I may have to file in small claims court if they dont cut me a check soon once they close the account. I'm assuming they'll just close it at this point.
Originally Posted by
economyfly
It's a mixed bag though as i have done mo deposits in new accounts with no probs. P2 had a keybank again due to promo years back and did probably 6 figures in a couple of months and no aa. But yeah lesson learned with keybank.
It is more than just depositing MOs into an account. As I said, depositing "a handful" (whatever that means) of MOs can mean 10 $1000 MOs or 2 $25 ones.
What is more telling is what you did with that deposit. If it was ACHed out to another bank so that the average daily balance in the account was $1, then your account is more likely to be flagged than if you were writing checks to local merchants.
If I had to guess, you deposited approximately $6-8k and withdrawing that amount within several days of depositing it, either by paying off your credit cards, or by transferring the balance out of Key. (My bet would be the former).
Your other point is well taken. Some banks are more lax with such behavior than others. However, as mentioned by others, new accounts get greater scrutiny than seasoned ones. Key, obviously, is one of those banks who care about MO deposits.