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Originally Posted by DjRocket
(Post 26511715)
Except that birthdays don't happen every week and grandmas don't tend to give multiple GCs in high amounts : ) If they see you persistently load GC's into Serve, it's a good bet that you're doing MS at best, money laundering at worst. Maybe because they don't know for sure which one it is you're doing, they play safe and kill the account under the concern that it might be the latter. Otherwise I have no idea why they would care about people MSing using non-Amex cards to load Serve. Just a thought.
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Originally Posted by FlightNurse
(Post 26519563)
The first part is true, but the second part isn't, I highly doubt AMEX is thinking money laundering since you aren't breaking any laws.
If they don't like your MS, why not send you a warning before shut down? The lack of transparency is suspicious. |
Originally Posted by littlewinglet
(Post 26507587)
If someone loads the BB from GCs to pay regular bills that don't take CC, like Electric, that's not really MS, that's more like transposing spending. The definition is very broad and one could argue about a lot of things if they're MS. The issue is what AMEX uses as criteria for shutdown, and it appears from reports they're taking a very broad and liberal definition.
I'm pretty sure if you load $2000 of your own cash and immediately pay your CC and Mortgage, you'll eventually get shut down, as that doesn't make them any money. They're just using MS as convenient excuse to weed out unprofitable users. |
Originally Posted by prasha11
(Post 26520737)
AmEx may not be thinking as money laundering (profitable, keeping 20%+ breakage!) but what about the financial regulators? how would they know on the basis of looking at the list/size of transactions if its ML? I have been MSing for many years, all products are killed at the peak with no warning or explanation, "abuse' is MSers self explanation, (what else can they think, self guilt/blame?). In the past banksters would 'freeze' your funds and make you beg! now they just let you drain!
If they don't like your MS, why not send you a warning before shut down? The lack of transparency is suspicious. |
Originally Posted by FlightNurse
(Post 26519563)
The first part is true, but the second part isn't, I highly doubt AMEX is thinking money laundering since you aren't breaking any laws.
EDIT: just to be clear: I'm not saying that's the case, I'm arguing it could be the case. |
Originally Posted by DjRocket
(Post 26530522)
Not sure what you mean. How does Amex know that I'm not breaking any laws? They have no idea how I got those GC's. I'm sure the feds can trace the transactions across multiple banks and online purchases, if needed, but I highly doubt Amex does (or even can) do that. So when they see loads of GCs in high amounts, it could potentially be some kind of money laundering, from their perspective. And instead of investigating and sending warnings and crap, they just shut it down, much more efficient than having to deal with investigations.
EDIT: just to be clear: I'm not saying that's the case, I'm arguing it could be the case. Not too sure why you are "arguing" about anything. The people who have been shut down I'm suspecting loaded BB or serve with the $500 VGC, and loaded the max at a time. I'm thinking this as well as load and drain set off some alarms at AMEX. Regarding the illegal aspect, AMEX is just the middle guy, in which you unload VGC and pay the bills. Now AMEX may not know where the VGC came from not too sure they care, but the theory is that AMEX isn't making money on people who load and drain. This is possible, but so far, I'm still working and making points, but not at the level I once did... |
Originally Posted by FlightNurse
(Post 26531931)
... but the theory is that AMEX isn't making money on people who load and drain....
By the way, "argue" doesn't necessarily mean "passionately" debate with an intent to convince your opponent. It can simply mean "state reasons or evidence to support your point of view" :) |
Originally Posted by FlightNurse
(Post 26524061)
Depends on how you load that 2K, if it's via a direct deposit I highly doubt you will be shut down, if you load it via VGC at a rate of $500 each load x 3 daily until you reach the max of 5K I'm sure that will set off some alarms with Amex.
5K points/month? (VGC) at $0 cost 5K points/month (VGC) in $5K MO at 5x0.70= $3.5 cost? I deposit MOs in the bank and do what I want(KISS)......what am I missing? |
Originally Posted by prasha11
(Post 26532536)
What is the value bluebird in MS?
5K points/month? (VGC) at $0 cost 5K points/month (VGC) in $5K MO at 5x0.70= $3.5 cost? I deposit MOs in the bank and do what I want(KISS)......what am I missing? |
Originally Posted by lumangoy
(Post 26532637)
you need to have banks that will not shut you down depositing MOs.
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Originally Posted by prasha11
(Post 26532536)
What is the value bluebird in MS?
5K points/month? (VGC) at $0 cost 5K points/month (VGC) in $5K MO at 5x0.70= $3.5 cost? I deposit MOs in the bank and do what I want(KISS)......what am I missing? |
Originally Posted by DjRocket
(Post 26532689)
Do credit card companies accept a payment in the form of MO? I haven't tried it but I don't see a reason why not. That would be a good way to liquidate MO's. I'm guessing though it doesn't work as everybody would be doing just that, right?
Some have said you can mail them too but I haven't tried. |
Originally Posted by DjRocket
(Post 26511715)
Except that birthdays don't happen every week and grandmas don't tend to give multiple GCs in high amounts : ) If they see you persistently load GC's into Serve, it's a good bet that you're doing MS at best, money laundering at worst. Maybe because they don't know for sure which one it is you're doing, they play safe and kill the account under the concern that it might be the latter. Otherwise I have no idea why they would care about people MSing using non-Amex cards to load Serve. Just a thought.
I read few of your posts and like the way u think....raising valid Qs....but what u missing out is your basic assumption that in USA we have rule of the law, rights of every citizen are protected and its in the interest of the Banks and corporation to play by the 'rule' or they will be punished by fines in billions. Well, (1) They blatantly violate the laws and pay billions because they do benefit/risk calculation! (2) They (Corporations) use the lobbyist to set the laws/rules in their favor, the game is rigged... (3) The laws are good only if enforced, the odds are against you or me (individuals) |
Applied for a OV Serve the other day and got denied! Might have been because my BB got shut down some months ago?
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Originally Posted by DjRocket
(Post 26532689)
Do credit card companies accept a payment in the form of MO? I haven't tried it but I don't see a reason why not. That would be a good way to liquidate MO's. I'm guessing though it doesn't work as everybody would be doing just that, right?
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