Bank Call about MS activity
Apr 14, 2014, 8:19 pm
#31
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
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Apr 14, 2014, 8:59 pm
#33
Join Date: Mar 2014
Posts: 360
https://www.consumerdebit.com/consum...s/en/index.htm
HOWEVER if there is no loss to the institution exceeding $100 it should not be reported to Chex over $100 it remains for 7 years and an account marked as suspected fraud or account abuse is likely to cause problems.
Apr 14, 2014, 9:44 pm
#34
Suspended
Join Date: May 2012
Location: ORD
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Posts: 1,786
I would avoid MO's to any cc issuer, as there have been reports of shut downs and it is better to stay under the radar. Furthermore, think of the headaches if the MO's are lost in mail and the stop payment fees would be quite substantial on 10 MO's.
Apr 14, 2014, 10:32 pm
#35
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Join Date: Apr 2002
Location: Madison, WI, USA
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People tend not to want to help those who lash out.
Apr 14, 2014, 10:44 pm
#36
Join Date: Jul 2013
Posts: 204
Slightly off topic, but it always irks me when people describe MS as "abusing" or "exploiting" CCs.
It is neither abuse or exploitation. Children and old people get abused and exploited.
Business get our money and we get a product or service. It's a professional relationship. There is nothing abusive or exploitative about using your business relationship to earn a profit. that is the nature of business.
Back on topic, the OP is quite naive in this game if he did 20k MO in 2 months on a new account. that's just asking to get noticed by risk management. was that your intention? there's probably 20 banks within walking or 5 minute driving distance of your house. diversify and ramp up gradually.
It is neither abuse or exploitation. Children and old people get abused and exploited.
Business get our money and we get a product or service. It's a professional relationship. There is nothing abusive or exploitative about using your business relationship to earn a profit. that is the nature of business.
Back on topic, the OP is quite naive in this game if he did 20k MO in 2 months on a new account. that's just asking to get noticed by risk management. was that your intention? there's probably 20 banks within walking or 5 minute driving distance of your house. diversify and ramp up gradually.
Apr 14, 2014, 10:53 pm
#37
Join Date: Sep 2011
Location: USA
Posts: 1,179
Ya, I would never mail MOs to pay cc-if lost/misplaced, it would be a major PITA. I've paid my cc using MOs at a branch though.
Apr 14, 2014, 11:02 pm
#38
Join Date: Jan 2013
Location: DCA
Programs: US GP, *G, HHonors Gold, SPG
Posts: 141
I've stopped MOing as much as possible and am now BPing my non Amex bills. Way less risk overall. When I have to, I run my MOs through my CU where I bank (VERY limited membership), and they have explicitly told me what I am doing is fine but they want no more than $15K per month. The CU knows me, and I direct deposit there as well. Still the riskiest part of the GC-MO cycle is cashing out MOs. No other link in the chain comes close.
Apr 14, 2014, 11:09 pm
#39
FlyerTalk Evangelist
Join Date: Sep 2003
Location: HH Diamond, Marriott Gold, IHG Gold, Hyatt something
Posts: 33,539
Ah, how I love posters who just go and delete all their posts when they don't like the legitimate answers they got.
Why would ANYONE ever want to help you in any way, Mongo?
Why would ANYONE ever want to help you in any way, Mongo?
