MO Purchases using OV @ WM

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Old Nov 29, 14, 7:26 pm   -   Wikipost
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Does not work anymore, is dead..... what is the point to report 'not working'?

As of 08/25/2014, Bancorp cards (Vanilla Visa, OneVanilla, etc.) are rarely working first try for debit transactions at Walmart. There is no apparent geographical basis. Basically, it's a crapshoot.

Do not agitate a cashier or store and lose the ability to make these transactions in the future. Multiple failed swipes or transactions will likely increase scrutiny. You do not want that. It is best to stop using these cards.



Vanilla VISA defaulting to credit
As of 5/29/2014, at most Walmart locations, all Vanilla VISA cards issued by The Bancorp Bank are automatically recognized as credit. Most Mastercard have required a workaround for some time. The MoneyCenter Express (ATM, kiosk, Kate) is not affected by this change.
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Old Jun 20, 14, 10:22 am
  #1531  
 
Join Date: Apr 2014
Posts: 103
Originally Posted by CincinnatiKid View Post
I am new to certain forms of MS but not to beating systems. As a professional arbitrageur - be it markets, regulations, or "games of chance" - I've witnessed many edges come and go. The predictable pattern of discovery, scale, notoriety, crowding, and "efficiency" (edge disappears or becomes uneconomic) is playing itself out in MS.

Spending far too much time RTFF I've seen many ill conceived accusations and laughable assertions. Today's actions by Wally World were not only predictable but telegraphed. I'm not going to show all my cards but will provide a link that is very informative with regard to today's action and what will be happening in the near future:
http://www.fool.com/investing/genera...collapsed.aspx

I would add that those that are apolitical may consider raising their voices. Apathy and silence are two great ingredients to turn a sovereign individual into an indentured and poverty-stricken man. The Dept. of the Treasury (IRS) wants to make cash a rarity and with it anonymity and liberty. Time to get educated and involved.

Lastly I would enjoy having a discussion with sophisticated players of size (via PM) and can provide certain bona fides as there may be one big score left in MS.

While I agree with a lot of what you say, the other gift card companies seem to be doing just fine. I will not post their stock symbols here but have researched them and with a little legwork you can see so for yourself.

Bancorp obviously was the most abused based on availability, but the others still are hit pretty hard I would imagine and the few I researched are near 52k week/all-time highs and aren't dropping 25% in a day like Bancorp.
BigB985 is offline  
Old Jun 20, 14, 10:38 am
  #1532  
 
Join Date: Jan 2013
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Originally Posted by CincinnatiKid View Post
I am new to certain forms of MS but not to beating systems. As a professional arbitrageur - be it markets, regulations, or "games of chance" - I've witnessed many edges come and go. The predictable pattern of discovery, scale, notoriety, crowding, and "efficiency" (edge disappears or becomes uneconomic) is playing itself out in MS.

Spending far too much time RTFF I've seen many ill conceived accusations and laughable assertions. Today's actions by Wally World were not only predictable but telegraphed. I'm not going to show all my cards but will provide a link that is very informative with regard to today's action and what will be happening in the near future:
http://www.fool.com/investing/genera...collapsed.aspx

I would add that those that are apolitical may consider raising their voices. Apathy and silence are two great ingredients to turn a sovereign individual into an indentured and poverty-stricken man. The Dept. of the Treasury (IRS) wants to make cash a rarity and with it anonymity and liberty. Time to get educated and involved.

Lastly I would enjoy having a discussion with sophisticated players of size (via PM) and can provide certain bona fides as there may be one big score left in MS.
Well well well... This could be the golden egg that has been laid.
Fuerza is offline  
Old Jun 20, 14, 10:40 am
  #1533  
 
Join Date: May 2013
Posts: 52
According to Bancorp's SEC filing, the FDIC has restricted the bank, until further notice, from issuing nonbenefit reloadable prepaid cards and from any automated clearing house transactions for merchant-related payments.
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Old Jun 20, 14, 10:45 am
  #1534  
 
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Originally Posted by luchex View Post
According to Bancorp's SEC filing, the FDIC has restricted the bank, until further notice, from issuing nonbenefit reloadable prepaid cards and from any automated clearing house transactions for merchant-related payments.
Reloadable only not gift cards. Of the Vanilla cards this would only impact their MyVanilla card. Not the gift cards or onevanilla prepaid cards.
BigB985 is offline  
Old Jun 20, 14, 10:49 am
  #1535  
 
Join Date: May 2013
Posts: 52
It's very likely this problem is unrelated to MS. FDIC blocked transactions via ACH and the software of the Kiosk will reflect immediatelly those changes. I would guess prepaid cards are a way for this banks to show an inflated cash availability. just a guess.
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Old Jun 20, 14, 10:52 am
  #1536  
 
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Originally Posted by luchex View Post
According to Bancorp's SEC filing, the FDIC has restricted the bank, until further notice, from issuing nonbenefit reloadable prepaid cards and from any automated clearing house transactions for merchant-related payments.
Loading BB/Serve can arguably be an ACH pull, but buying MOs too? I suppose one can argue the money is pulled to Moneygram's account... but how is that different from using it to purchase a pack of gum... Money just goes to walmart account instead...
kenshinluo is offline  
Old Jun 20, 14, 10:53 am
  #1537  
 
Join Date: May 2013
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Originally Posted by BigB985 View Post
Reloadable only not gift cards. Of the Vanilla cards this would only impact their MyVanilla card. Not the gift cards or onevanilla prepaid cards.
yes, but if they both are process by ACH it may not make a difference and the block would affect both.

http://www.digplanet.com/wiki/Automated_Clearing_House
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Old Jun 20, 14, 10:53 am
  #1538  
 
Join Date: Apr 2014
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Originally Posted by luchex View Post
It's very likely this problem is unrelated to MS. FDIC blocked transactions via ACH and the software of the Kiosk will reflect immediatelly those changes. I would guess prepaid cards are a way for this banks to show an inflated cash availability. just a guess.
Again based on your original post they blocked only "reloadable" prepaid cards. Gift cards aren't reloadable so what you are saying is contradicting.
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Old Jun 20, 14, 10:55 am
  #1539  
 
Join Date: Dec 2013
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Originally Posted by BigB985 View Post
Reloadable only not gift cards. Of the Vanilla cards this would only impact their MyVanilla card. Not the gift cards or onevanilla prepaid cards.
You aren't reading that right. There is an and there. The first part and the second part are not necessarily related.

"According to Bancorp's SEC filing, the FDIC has restricted the bank, until further notice"

1) "from issuing nonbenefit reloadable prepaid cards"
2) " from any automated clearing house transactions for merchant-related payments"
Domat is offline  
Old Jun 20, 14, 10:58 am
  #1540  
Used to be garyjr316
 
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Regardless if it is a FDIC issue or not... the moral of the story is don't put all your eggs in one basket. Especially if that basket is full of cash you can't float for awhile.
Dad to GO is offline  
Old Jun 20, 14, 11:02 am
  #1541  
 
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I thoroughly enjoy the turn that this thread took.
VizeL is offline  
Old Jun 20, 14, 11:11 am
  #1542  
 
Join Date: Feb 2014
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Posts: 930
Ok, so this has nothing to do with MS. Everyone breath a sigh of relief lol
commdiver is offline  
Old Jun 20, 14, 11:13 am
  #1543  
 
Join Date: May 2013
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Originally Posted by BigB985 View Post
Again based on your original post they blocked only "reloadable" prepaid cards. Gift cards aren't reloadable so what you are saying is contradicting.
I really lumped them toguether, GC and reloadable as prepaids, but yes It's point 2 I was refering to.
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Old Jun 20, 14, 11:16 am
  #1544  
Formerly known as FTRox87
 
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point 2 doesnt quite make sense either, cause certain amounts (say for the sake of simplification, under $100) work as DC just fine -- so its not a complete block. and AFAIK all amounts work as CC -- is CC not done via ACH for all intents and purposes?
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Old Jun 20, 14, 11:16 am
  #1545  
 
Join Date: Apr 2014
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Originally Posted by luchex View Post
I really lumped them toguether, GC and reloadable as prepaids, but yes It's point 2 I was refering to.
Point two makes a little more sense. Will be fun to see how long it lasts before it rolls out to other stores beside WM.
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