Originally Posted by
cuthroat
Today I go into one of my regulars for my usual 499 1 swipe limit (about 2 years ago I was cut down to 1 transaction per day) Long story short he gives me the heads up about management wanting to file paperwork with the IRS because I've been doing so many transactions for X amount of dollars for X amount of years. Stating tomorrow or the next time I come in he'll (or whomever working) is when this will all happen. Anybody heard or had this happen?
Thinking it all started from this: I'll keep this short
11/27/24 My son was in town for the holidays he wanted to see what I thought of his new car a G63, My gut told me we should take my car. Do my usual 499, upon walking out the store manager is walking in.
11/29/24 Back again for my usual 499. My guy that gave me the heads up about the IRS paperwork tells me I have some bad news for you. I'm thinking th system is down but he says I need see your DL, ask your occupation, and why am I doing so many transactions. He wrote it all down in a binder.
I don't know if it's just a coincidence but the timing is strange. This store is burned.
That sounds more like their paper MSAR form (money services suspicious activity report). WM has largely replaced that with electronic SAR reporting but I don't believe their 70 action code has this capability since it isn't a money service, so a store may start filing the old paperwork once you've exceeded their comfort level. This doesn't go to the IRS but faxed to WM corporate and worst case put in a government SAR database, which really is not a big deal at your volume unless there are other (actually legitimate shady things) about your life that could get flagged for investigation. Technically you may not have completely burned the store if they let you continue in this mode - but you have to decide if it's worth the hassle. For me $499 isn't worth it but I would take the opportunity to ask if you can do more swipes/transactions in 1 trip (and thus make less trips) since they're filling out paperwork anyway on your activity.