FlyerTalk Forums
Page 13 of 95
« First
3
7
8
9
10
11
12
13
14
15
16
17
18
19
23
63
Last »
Show 40 post(s) from this thread on one page

FlyerTalk Forums (https://www.flyertalk.com/forum/index.php)
-   Manufactured Spending (https://www.flyertalk.com/forum/manufactured-spending-719/)
-   -   Suspicious Activity Reports to the IRS when buying or depositing money orders. (https://www.flyertalk.com/forum/manufactured-spending/1438710-suspicious-activity-reports-irs-when-buying-depositing-money-orders.html)

Andy2 May 9, 2013 12:15 pm
Originally Posted by bobfather (Post 20723647)
Your bank doesn't care unless they start seeing you dropping off thousands each day, or ten thousand+ on the same day.

To make life even easier for yourself, open an account with a bank that has branches all over, and pick different days to go into each branch. Or alternate between walking into the bank versus using the drive through.
Every major bank has software designed to flag this exact type of behavior and making large cash or cash-like deposits at multiple branches of the same bank within short period of time increases the likelihood of being contacted by the bank in order for them to gather data to prepare their internal paperwork for the equal to or greater than 3K in cash or cash-like deposits, to prepare their CTRs for equal to or greater than 10K deposits, and/or to file a SAR (the customer does not know if a SAR is filed). This is something that many posters discovered during the dollar coin depositing days.

SoCalStew May 9, 2013 12:51 pm
Thank you, moderator, for moving my thread to the correct place.

Given that many FTers are probably generating either large amounts of cash or money orders (or both) that are ending up in banks, it stands to reason that SARs and CTRs have been filed with respect to more than a few of the esteemed members of this forum.

Have people experienced negative consequences from this? I have not seen many people mention late nite phone calls from some Federal agency. Nor have I seen many mention that they have been shut down by a bank/financial institution for suspicious activity (Green Dot, Pay Pal, and credit card perk abuse, excepted).

dawgs May 9, 2013 12:56 pm
Why is anyone still ordering money orders when Blue Bird works well and 90% of gift cards now have pins?

Bender464 May 9, 2013 1:35 pm
Originally Posted by dawgs (Post 20724260)
Why is anyone still ordering money orders when Blue Bird works well and 90% of gift cards now have pins?
Probably because of the 5K/month reload limit. ;)

dawgs May 9, 2013 1:47 pm
Originally Posted by Bender464 (Post 20724494)
Probably because of the 5K/month reload limit. ;)

That sucks...I thought is was $1,000 a day which made me think it was $365,000 a year.

jewsus May 9, 2013 3:02 pm
Originally Posted by dawgs (Post 20724569)
That sucks...I thought is was $1,000 a day which made me think it was $365,000 a year.
Still not enough. Not even close.

Bender464 May 9, 2013 6:19 pm
Originally Posted by dawgs (Post 20724569)
That sucks...I thought is was $1,000 a day which made me think it was $365,000 a year.
:D :D :D LOL

savekenny May 9, 2013 6:34 pm
Originally Posted by dawgs (Post 20724260)
Why is anyone still ordering money orders when Blue Bird works well and 90% of gift cards now have pins?
Money order is 70 cents per $1000 at Walmart. Can gift cards beat that?

yoyo May 9, 2013 6:55 pm
Originally Posted by savekenny (Post 20725898)
Money order is 70 cents per $1000 at Walmart. Can gift cards beat that?
yes sometimes.

Alcibiades May 9, 2013 7:22 pm
Originally Posted by SoCalStew (Post 20724237)
Have people experienced negative consequences from this? I have not seen many people mention late nite phone calls from some Federal agency
Cannot find the thread, but Mimi.... on FWF had a sit down with the FBI at her local bank branch ...

vtqanh May 9, 2013 7:31 pm
Originally Posted by Alcibiades (Post 20726110)
Cannot find the thread, but Mimi.... on FWF had a sit down with the FBI at her local bank branch ...
http://www.fatwallet.com/forums/fina...72/?start=2480

savekenny May 9, 2013 9:16 pm
Originally Posted by yoyo (Post 20725998)
Originally Posted by savekenny (Post 20725898)
Money order is 70 cents per $1000 at Walmart. Can gift cards beat that?
yes sometimes.
How? Not even back when they had 5x at OD at $6 for 2500 miles.

yoyo May 9, 2013 9:23 pm
Originally Posted by savekenny (Post 20726599)
How? Not even back when they had 5x at OD at $6 for 2500 miles.
I was referring to beating the 70 cents per 1K purchase fee. The most obvious one was purchasing gift cards through websites with cash back.

savekenny May 9, 2013 9:24 pm
Originally Posted by yoyo (Post 20726623)
Originally Posted by savekenny (Post 20726599)
How? Not even back when they had 5x at OD at $6 for 2500 miles.
I was referring to beating the 70 cents per 1K purchase fee. The most obvious one was purchasing gift cards through websites with cash back.
Sure. If you're willing to make many visits to the grocery store to get cash back.

Stoughton May 10, 2013 7:10 am
Originally Posted by savekenny (Post 20726633)
Sure. If you're willing to make many visits to the grocery store to get cash back.
He's talking about Big Crumbs.


All times are GMT -6. The time now is 12:48 pm.
Page 13 of 95
« First
3
7
8
9
10
11
12
13
14
15
16
17
18
19
23
63
Last »
Show 40 post(s) from this thread on one page


This site is owned, operated, and maintained by MH Sub I, LLC dba Internet Brands. Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Designated trademarks are the property of their respective owners.