hoak

Me too, what will make Chase upset? I MS around 2-3k with Ink, Freedom quaterly and dining on Sapphire combining with churning bonuses. I just hope to have enough to have a trans-Pacific flight in business for my family of 4 every 2 years. I really do not want to lose business with Chase

josephstern

Best advice on Chase: Don't have a deposit account with them.

46sky

What do you mean by this? As in don't transfer money into chase checking and then use that to pay cc?

BeyondtheWrap

As in, just don't have a chase checking account.

finloopio

I would like to request more insight into this. I hold my mortgage, primary checking and a savings account with Chase and MS moderately on the Ink card. It would seem they would enjoy keeping a customer around instead of shutting me down if I could move all those things out at will. Where am I going wrong?

Oh, and I do not pay my chase credit cards with bluebird or serve accounts. That's asking for trouble IMO.

littlewinglet

You'll be ok, just don't do MS with their accounts.

nistah

Two branch managers from large national banks that I've been using to deposit MO's both advised me on the same day that they "had questions" regarding the volume and frequency of my deposits. I told them I'd be happy to discuss and set up meetings.

During the meetings they advised that their back office operations flagged my accounts since I have a personal account and I am depositing large volume of MO. I responded by explaining that while I understood that what I was doing could look suspicious, everything was perfectly legitimate and that I had essentially found a way to earn rewards by "purchasing MO's on a milage earning debit card" so that I could " take my girlfriend on a vacation that I could otherwise not afford". I went on to remark how I "valued the longstanding relationships" and I even provided some documentation showing that my MO purchases were made using debit.

Both branch managers were very nice, and while they seemed to accept the explanation I provided and did say that "none of my actions were illegal nor against any written bank policy" I got the impression that I'd crossed an imaginary line sand according to their respective risk management office's internal guidelines. When I asked for guidance on how much was too much to deposit with respect to money orders they told me that there were "no limits" however I got the veiled message that the type of volume I was doing would not be tolerated if I continued….so far both of my accounts are still open….

I am going to keep MO deposits under $4K a week at each to avoid being shutdown. Anyone have information on MO limits for physical teller deposits at national bank branches and also any recommendations for online banks with friendly MO policies?

Mamibear

why do you say so?

I pay my Chase CCs via Serve B/P but I don't use Chase CCs to load any of my Serve, so there is no connection at all. I have closed all my Chase bank accounts years ago.

mfFrom35K

^^^ Definitely two thumbs up for this post.

gw14

200k a year in deposits into a checking account may still be too much.

More checking accounts is the answer.

Combine the checking account with a savings account and you'll have more deposit opportunities. Make a checking account deposit at one branch and a savings account deposit at another branch.

uncommonsensical

and you give this advice based upon what- pray tell? TERRIBLE, uninformed advice with no basis in experience or fact.

my accounts, ALL OF THEM, were shut down for non-MS activity. no MO or cash deposits- nada. threads on this and other forums are filled with Chase blacklisting for completely non-MS reasons. if you're going to dispense advice, know wth you are talking about.

the correct advice is found a few posts above your: the best advise is to have NO Chase deposit accounts- PERIOD. not personal. not business. only harm can come from them, and no good.

i imagine this post will be deleted as, whenever i call someone out for TERRIBLE advice, that's what happens...

nistah

Thanks good info ^

uncommonsensical

seriously? you think when the hammer falls it will be from a local mgr and/or s/he will have any pull when (not if) you're shut down?

if these 'national' banks issue credit cards you have/may want, you are being reckless and stupid if you keep doing this at any level. there is NO REASON to $&*% where you eat. NONE.

there are countless credit unions and smaller banks to run money thru. you can be doing non MS large scale deposits at Chase and, if the fraud dept decides it doesn't look right, it is OVER. no appeals to logic or anything. the dept that makes these decisions for chase should be called 'The untouchables' because what they decide can't even be appealed or questioned, much less reversed.

MS at any level is going to cause your bank accounts to look suspect. business dealings which create the wrong kind of deposits, lots of checks from tenants... all kinds of innocent stuff can raise red flags. ergo, your bank accounts should be with banks that don't issue credit cards. the old thinking that nice deposit balances makes you a more valuable customer are out dated. guys with multi-million $ business accounts and 7 figure Private Client accounts have been axed.

littlewinglet

First of all, chill out. Second, the advice is based on experience of a friend who had a biz acct she used for MS that was shutdown, but the personal acct wasn't touched and she wasn't blacklisted and could even apply for biz cards again after about 6 months.

PaulMSN

You had a bad experience. That does not mean that everyone else will also have a bad experience.

Still, it seems foolish to do your MSing with a bank that issues your CCs. Personally, I'd avoid all commercial banks, simply because they are for-profit institutions. With non-profit CUs available everywhere, it seems prudent to use them instead.