I received a letter yesterday from the FDIC. MVD provided them with the T&C sheet and a big highlight of what I had violated. The portion highlighted was something like "the company reserves the right to shutdown any account at anytime for any reason."

All I had done was load $4000 to the card and left it there for a few weeks. It took me 4 phone calls and a month's time to get anyone in the compliance department to look at why I was inactive. Apparently, the statement above in the T&C gives them the right to take your money at anytime, ignore constant phone calls, and hope that they let you unload at some future date.

it could occur while the transaction is taking place
:confused:

Someone had reported that in the 30min between load and unload they were shutdown. (but they still got their money back eventually).

I said the "I don't care part" because if they closed my account after the transaction it wouldn't be a loss (money would already be in my bank), but I don't want them to hold onto the money for who knows how long by closing it mid-transaction.

Since it could happen during the transaction, I probably won't do it..

Are U questioning the validity of that T&C? do U feel entitled for a fair and reasonable answer? :confused:
I see cattle walking in a slaughter house and don't even know that, oh! now they know but to believe must try out... (I escaped)

^ smart

wait for few days, use BB

Anyone notice a change in the daily/weekly/monthly limits? I tried unloading Today and I got limit exceeded / insufficient funds error. I did a small test debit and it worked fine. I also checked the account status and its still active. I've done less than 5k this week. Even a smaller debit in the hundreds was declined. I hope the new year doesn't bring new surprises.

How much have you done this month?

Wow… Feel like such a newbie. Those monthly limits creep up on you don't they!

:p

You shouldn't upload more than $8K/week and $10K/month per card. If you exceeded the monthly limit of $10K/month in December they will decline the transaction and you'll have to wait until January 1, 2014.
The yearly limit is $45K per card which is 4.5 month of fully loading and uploading, then cancel the card and get a new MVD.

What's the procedure for canceling the card? Do you have to leave $10 in there for the acct closing fee? What about cards that ate frozen or in spend-down mode? Can those be closed out (properly) so another card can take its place?

$10 to close it,Id just run amock CAing the death of it so they would shut it on me

Yes, they want to hold onto YOUR money for as long as possible.

Are you saying that if you leave a negative or zero balance they will shut you down?

you are wise well beyond your post count