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Old Apr 13, 2015 | 3:47 pm
  #76  
 
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Chase closed all my accounts. 1 business, 1 checking and 2 saving accounts. I have been depositing MO for almost 2 yrs. I opened new saving account recently for 175 bonus, I think that triggered closure. I talked with people at branch and CSR, they don't know reason. Decision is final and I can't open any accounts. I have CC with them and they said it will not be affected. I have 500k UR, What is best way to cash out?
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Old Apr 13, 2015 | 4:00 pm
  #77  
 
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Originally Posted by tech2011
I have CC with them and they said it will not be affected. I have 500k UR, What is best way to cash out?
I'd transfer it all out. If it were me, I'd probably do:

150K -> Hyatt (7 nights @ Class 5, 6 nights @ Class 6, 5 nights @ Class 7)
100K -> BA (4x RT West Coast > Hawaii)
250K -> UA (2x RT business awards)

But that's just me and what's important to me. $5K cash would be cool. If you don't have upcoming travel plans, it's probably best to just diversify.
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Old Apr 13, 2015 | 4:38 pm
  #78  
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Some UA partners are very hard to redeem in C/F. Some won't release space until T-14. Look at how difficult it will be to redeem before you send one mile to UA.

250k to United is too much unless you book right away.
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Old Apr 13, 2015 | 4:40 pm
  #79  
 
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Originally Posted by jmw
250k to United is too much unless you book right away.
250K is also way too many UR points to lose in case of shutdown.

I was simply giving a recommendation on how I would liquidate 500K if I had to today with no upcoming plans.
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Old Apr 13, 2015 | 4:47 pm
  #80  
 
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Originally Posted by tech2011
I have been depositing MO for almost 2 yrs.
Volume?
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Old Apr 13, 2015 | 5:00 pm
  #81  
 
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Originally Posted by 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.
Is the 200k number limited to MO's? Excuse my ignorance. Does the bank know whether the deposit is a check or a MO's? I haven't seen a MO for 20 years let along depositing one.
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Old Apr 13, 2015 | 5:13 pm
  #82  
 
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Thanks Roki and Jmw. Which airline is better to book ticket to India. I don't have UA account, to get account do I need to open CC?
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Old Apr 13, 2015 | 5:17 pm
  #83  
 
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Originally Posted by miadeals
Volume?
There is no change in deposit velocity in last 2 years. All deposits are in branch with teller.
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Old Apr 13, 2015 | 5:18 pm
  #84  
 
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Originally Posted by Bluebirdie
Is the 200k number limited to MO's? Excuse my ignorance. Does the bank know whether the deposit is a check or a MO's? I haven't seen a MO for 20 years let along depositing one.
Maybe not more checking accounts but friendly MO bank ; BofA rather than chase or WF
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Old Apr 13, 2015 | 5:24 pm
  #85  
 
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Originally Posted by tech2011
There is no change in deposit velocity in last 2 years. All deposits are in branch with teller.
But still...volume?

I'm afraid to deposit more than a couple MO a week, in the brach, with a teller I know....cause there is someone in back that is going to eventually think that depositing hundreds of MO's isn't normal behavior. (2 per week is over 100 a year...which probably .001% of the population does.)

What is the most that anyone gets away with in perpetuity?
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Old Apr 13, 2015 | 5:27 pm
  #86  
 
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Originally Posted by miadeals
But still...volume?

I'm afraid to deposit more than a couple MO a week, in the brach, with a teller I know....cause there is someone in back that is going to eventually think that depositing hundreds of MO's isn't normal behavior. (2 per week is over 100 a year...which probably .001% of the population does.)

What is the most that anyone gets away with in perpetuity?
2 mo per week? Thats not MS. don't worry about shutdown.
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Old Apr 13, 2015 | 7:12 pm
  #87  
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Deposit MO into Chase = looking for trouble. I do most of the MO into my local banks where I could care less if shutdown. Learned my lesson from US Bank
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Old Apr 13, 2015 | 9:10 pm
  #88  
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Originally Posted by miadeals
But still...volume?

I'm afraid to deposit more than a couple MO a week, in the brach, with a teller I know....cause there is someone in back that is going to eventually think that depositing hundreds of MO's isn't normal behavior. (2 per week is over 100 a year...which probably .001% of the population does.)

What is the most that anyone gets away with in perpetuity?
I don't think anyone has reached perpetuity yet. I've only been doing this for about 2 years. Last year I deposited @ $600K into checking and savings at a CU. I built up slowly, though, and explained what I was doing when asked. They seem to be OK with it, but someone might look askance at the account someday. There's always risk.
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Old Apr 14, 2015 | 11:20 am
  #89  
 
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Originally Posted by PaulMSN
I built up slowly, though, and explained what I was doing when asked.
Yeah, some CUs will at least ask WFT's going on. BoA and Chase just shut the accounts down, often with very little or no notice.
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Old Apr 14, 2015 | 4:27 pm
  #90  
 
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What you consider not normal!

Originally Posted by miadeals
What is the most that anyone gets away with in perpetuity?
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