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Originally Posted by mkarolian
(Post 19954135)
I've not tried it, but I wonder if you were just upfront with them about what you were doing... I assume most tellers would kinda get it and let it happen.
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This is a great way to get on the money-laundering watchlist. Cash-advances on prepaid cards, come on?
What a stupid idea. |
Originally Posted by mkarolian
(Post 19954135)
I've not tried it, but I wonder if you were just upfront with them about what you were doing... I assume most tellers would kinda get it and let it happen.
While I consider myself quite risky with my credit score, I would never ever want to mess with SARs (Suspicious Activity Reports) from the bank. |
I would suggest giving a retainer to a lawyer if you're going to try this.
Cheers Howie |
Originally Posted by Richklhs
(Post 19953892)
Walking into a bank with a temp card with no name on it and asking for $499.50 is sketch. Do it at your own risk
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Why would there be a tax bill ?! If you did it right you might even have an argument for a tax break. Buy GC 504.95 with Act fee. Get $499.50 back. Last time I checked that's a loss. Doesn't matter if you get a 1099 as long as you kept a clear paper trail of what you did. Where funds came from and went too. Just saying. I'm not going to get involved in though.
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Originally Posted by MSPDeltaDude
(Post 19955056)
Why would there be a tax bill ?! If you did it right you might even have an argument for a tax break. Buy GC 504.95 with Act fee. Get $499.50 back. Last time I checked that's a loss. Doesn't matter if you get a 1099 as long as you kept a clear paper trail of what you did. Where funds came from and went too. Just saying. I'm not going to get involved in though.
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One of the biggest limitation of cashing out MVD is it only allows 3 cards per SSN if there are no VR to be purchased. I saw people asking Dan on his post regarding to get over this 3 cards limitation but Dan refused to answer this question in his post. I rather use to buy VR and load it to my BB.
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Wouldn't a constant renewal of MVD with VR followed by cash out with cash advance lead to closure of the MVD?
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I got one today, set it up online and now waiting for the permanent card to arrive.
I then think about going to my local bank and say "you know, I sell drugs for a living and one of my clients paid me with this card, can you cash it out for me, thanks sweetheart?" Ok, on a serious note. I have plenty of VRs around me and a fairly high estimated tax payment coming up. Can I load the baby and then pay my taxes with it in ONE payment? I should pay the .50 cents fee and the $3.49 fee the tax payment processor charges on debit cards. Thoughts? |
If you wanna give out your SSN, DOB, and full contact info to these guys, great. I don't.
For me, BB does the VR trick, when they're available. Tried and true. Legit. So far, under the radar. And to mess with federal tax payments with potential penalties if InComm causes a hiccup? |
I think if MVD works for tax payments then it works. The acceptance company will either get an approval or denial when they try to run it. I think the larger issue may be a transaction or daily limit with MVD, which would limit its utility for a larger tax payment.
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Originally Posted by gpapadop
(Post 19963865)
Ok, on a serious note. I have plenty of VRs around me and a fairly high estimated tax payment coming up. Can I load the baby and then pay my taxes with it in ONE payment? I should pay the .50 cents fee and the $3.49 fee the tax payment processor charges on debit cards.
Thoughts? |
To cop a line from another poster on another topic "the FlyerTalk fail is strong in this thread".
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Originally Posted by StrategicVacation
(Post 19967574)
29 doubter posts with predictions of certain doom butnot a single one by a person with actual information or experience. Not a single one of you has actually tried to do this even once as far as I can tell. To cop a line from another poster on another topic "the FlyerTalk fail is strong in this thread".
I successfully cashed out two temporary MVDs at my bank for $500 each, explaining that I had received them as Christmas gifts and asking to deposit the money into my account. No problems. I had registered these two cards, however, so I don't know if it would have worked with unregistered cards. I would like to hear from someone who actually tried it with unregistered cards. My impression is that the worst thing that can happen is they say "no" or that the authorization does not go through. |
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