Cha$e Compliance Phone Call
Jan 15, 2014, 12:24 pm
#1
Original Poster
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
Cha$e Compliance Phone Call
Just got a call from Cha$e compliance department regarding money orders, AP, PP deposits into my accounts and they asked me to explain where money was coming from and I was depositing said items into my personal accounts.... 
Jan 15, 2014, 12:46 pm
#6
Join Date: Jan 2003
Location: California
Posts: 1,129
Explanation for AP = you work at Amazon mTurk and are transferring your earnings
Explanation for PP = your clients pay you by PP and are transferring your earnings
Explanation for MO = don't deposit these at Chase... LOL
Explanation for cash = same thing.... don't deposit greenbacks at Chase
That's one reason why I continue to have relationships with many different credit unions and banks.
Explanation for PP = your clients pay you by PP and are transferring your earnings
Explanation for MO = don't deposit these at Chase... LOL
Explanation for cash = same thing.... don't deposit greenbacks at Chase
That's one reason why I continue to have relationships with many different credit unions and banks.
Jan 15, 2014, 12:49 pm
#7
Join Date: Nov 2013
Location: PHL
Programs: All
Posts: 65
One: Get as much points/money/miles out as fast as you can. Cash from the bank is best because Chase is known to stop payment on checks.
Two: Call them and tell them you recently started a business (cleaning service, catering, whatever) and say you want to look into opening a business account. It won't help but long term but it may buy you some time to do step one.
Two: Call them and tell them you recently started a business (cleaning service, catering, whatever) and say you want to look into opening a business account. It won't help but long term but it may buy you some time to do step one.
Jan 15, 2014, 12:51 pm
#8
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
I agree that MOs should be spread around, so they dont' think we're doing something crazy, even though we know we aren't.
I prefer to just load to BB rather than MO to avoid this type of thing. I've never gotten into the PP and AP, although I'm sure I'm giving up on some easy MS there.
I prefer to just load to BB rather than MO to avoid this type of thing. I've never gotten into the PP and AP, although I'm sure I'm giving up on some easy MS there.
Jan 15, 2014, 1:14 pm
#11
Original Poster
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
Not really all that heavy. I have a biz checking and two personal checking with Cha$e. Also have a savings account.
15K MOs from July 13-Jan 14 into one personal checking
1000 AP into each personal checking each month
PP -- a lot of my clients pay me via PP. But I've also done the PP cards from CV$ and emptied about 8-10K into each of my two personal accounts over the past 6 months.
I just transferred out 84,700 UR Points.
I actually was wanting to increase my MS with my new WF card. I do have a couple other banks, and should be diversifying... but the convenience of Cha$e has kept me there. I do my bill pay and everyday banking there as well.
15K MOs from July 13-Jan 14 into one personal checking
1000 AP into each personal checking each month
PP -- a lot of my clients pay me via PP. But I've also done the PP cards from CV$ and emptied about 8-10K into each of my two personal accounts over the past 6 months.
I just transferred out 84,700 UR Points.
I actually was wanting to increase my MS with my new WF card. I do have a couple other banks, and should be diversifying... but the convenience of Cha$e has kept me there. I do my bill pay and everyday banking there as well.
Last edited by carsonheim; Jan 15, 2014 at 1:50 pm Reason: I *wish* I had 847,000 UR points, but had an extra zero....
Jan 15, 2014, 1:23 pm
#12
Join Date: Feb 2013
Location: NYC
Programs: UA 1K, AA EP, Hyatt Diamond, SPG Platinum, M life Noir
Posts: 1,279
You were probably flagged by the AML (anti-money laundering) department. As anyone who pays attention to the news knows, the banking industry, and JPMC in particular, are under a lot of scrutiny.
Jan 15, 2014, 1:35 pm
#13
Original Poster
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
I'd like to do about 30K-50K per mo MS. I have two BB accounts, so that's 10K. I'll also start redirecting some of my activities away from Cha$e (if they don't close me down first...).
If there is a mentor who would like to provide best-practices I would be open to receiving PM.
If there is a mentor who would like to provide best-practices I would be open to receiving PM.
Jan 15, 2014, 1:38 pm
#14
Join Date: Jul 2013
Posts: 30
Not really all that heavy.
15K MOs from July 13-Jan 14 into one personal checking
1000 AP into each personal checking each month
PP -- a lot of my clients pay me via PP. But I've also done the PP cards from CV$ and emptied about 8-10K into each of my two personal accounts over the past 6 months.
15K MOs from July 13-Jan 14 into one personal checking
1000 AP into each personal checking each month
PP -- a lot of my clients pay me via PP. But I've also done the PP cards from CV$ and emptied about 8-10K into each of my two personal accounts over the past 6 months.
What's did you put down as annual income and was this level of MS a large deviation from previous months?
To everyone else: is this amount usually flagged for MS?
Jan 15, 2014, 1:43 pm
#15
Original Poster
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
annual income far exceeds these numbers. I really feel like my numbers are so inconsequential compared to what I see/hear others are doing. Open to tips and tricks to keep the cardinals at bay.....