The banks must confirm the identity at the opening of the account, before accepting the deposit, not an excuse to hold money

be as aggressive as you want, but just remember that these things take time. Expecting a very quick turn around time is just going to get you frustrated.

Both Paypal and Amazon hold money for 90 days in suspended accounts. After the lawyers for Incomm finish reviewing the relevant rules, I'd wager that they end up with the same timeframe as Paypal and Amazon's lawyers did. So, you'll get the money back, but it will probably be in 90 days.

On the other hand, assuming they don't flag accounts until they are funded yet, that's still not a terrible churn if there's no additional costs after the VR loads and they pay you back via check. That is, if you can float the money without any hardship.

For the record, I don't have any problem with people trying to get their money back either, although involving regulators before Incomm figures out what they are going to do seems potentially destructive, especially given that this deal might come back in some form or fashion.

What bothers me is that there was, by consensus, a good agreement to keep this thread subterranean and not blasting this hack all over the place. Now that the deal is dead or at least suspended for SOME, it seems like all bets are off and everything about this situation is fair game and plastered all over flyertalk.

If the sense of the community is that we should discuss these deals openly and fully, I can live with that. If the sense of the community for some deals is, as it was in this thread for a long time, that it should say mostly in private messages (where many posters were very helpful, I should add), I'm ok with that too. But it doesn't seem right that if one is passionate about the second approach all bets should be off immediately just because the deal seems suspended for that particular person when there are other still trying to get their money out before the hammer drops or still trying to test the limits.

Well, as I said, perhaps somebody should start a private group for each of these manufacturing "opportunities." That said, given the trouble that's been reported here, I think we can safely assume that few people are going to be terribly excited to jump on board this MVD game right now. I think it's better to share the information so the people already "involved" can get a better idea of what's going on. If it settles down and is "usable" again, perhaps then is the time to go off the air.

I agree with your sentiment, Ikar. But once "The Secret" is out, as evidenced by Bancorp's closing accounts and holding funds, "The Secret" is out, and it does no harm if I or anyone else try to pressure Bancorp to refund account closures promptly, as it should. And by the way: THEY KNOW WHAT WE'RE DOING. I spoke to a Bancorp customer service manager this morning, in fact, to see if they would be reasonable and process a timely refund, or if I would need to file a complaint with the FDIC (had to file a complaint). And get this: Without any hint whatsoever on my part, she knew exactly what I had been doing: buying loadable funds with a credit card to earn miles, points or a rebate, she told me. She claimed my credit card issuer (Citi, with whom I've made the majority of my beans purchases, I presume) had contacted them.

I repeat: Never at any time did I drop a hint as to the nature or purpose of my transactions.

They know.

True, that is the charge for getting cashback at most/all locations and MOs at some locations.

False, the debit charge is $0.50.

Citi contacted them? bullsh*t.

If your CC company took issue with your activity, they would contact you not Incomm. We'd also be seeing significant reports of closures, FR's and other adverse reaction of the CC companies.

I guess I just got up on the wrong side of the bed, or I'm trying to draw too fine a line. A thread about ways to get the money back, I suppose, is helpful and good for people in that pickle. But it doesn't need, yet, to be a rehash of the good old days and how it all works. When it's dead and buried like the mint, I will gladly participate in that thread!

Well, at least it's good they apparently know we're not crooks. :)

But if that's indeed the case, why not just close the loopholes? Step 1 is to do what AMEX does, which is limit the amount of money you can deposit in a month. Judging from the pictures on the website, it's pretty obvious who their target audience is. These folks don't need to load more than 5K/month. That would go a long way to limiting the "abuse" they are now perceiving.

And, frankly, it would be good for the flyertalk community. These manufacturing things should be at hobby level, not get-rich-quick schemes. I don't care what Gordon Gekko said. Greed isn't good.

I have to say, IANAL, but these credit in-cash out transactions that have become so popular scare the crap out of me and there is no way I would ever do it. To me, it just feels close enough to RICO activity to raise a flag with the feds. Or to cause the IRS to take an interest. Not with a 10-foot pole, thank you.

I use VRs and MVD for regular expenses and paying estimated taxes. That's it. And, frankly, that's plenty.

It may seem like a game to you, but it may seem like criminal activity to the banks and/or authorities. That seems like a dangerous-arse game to me. YMMV!

I just received a check today for an MVD card that was shutdown 12 days ago (first it was 'on hold', then 24 hrs after faxing documentation it was closed). So the check comes fairly quick once the account is closed at least.

How was it communicated your account was closed?

Exactly.

They have every ability to verify DL and SSN when people register their cards online.

Every bank has ability to check the CHEX system to verify a person's personal data if said person ever has a bank account. Failed to do that at account opening and then now demand ID proof is bad enough, but use this as an excuse to withhold people's money is down right against any banking regulation.

Since MVD is a FDICed product, the company is subjected to full set of government regulations.

OCC would be the government agency to file your complain. Even big bank like Chase would call you within a week after OCC receives your complain. One of the functions of the agency is to prevent banks abuse its customers' rights. Withholding customer's deposited money for no good reason is one of such abuses.

I dont understand some posters' "lay low" attitude. My take is, if you never do any CA or MO, then your account may last, if you do, sooner or later it will get to you even though your account currently still active. Others aggressively pursuit to get back their own money would not change anything in the current direction this is going.

they are asking for ID before issuing refund checks