I don't think what I posted was misleading, CapOne has two business models, sorry not using the correct lingo. Yes, other banks have this too, but the subject of this thread is CapOne.

CapOne is part of the subject of this thread, but not the only one. I don't check this thread because it's CapOne related...I'm checking to see if any other cards are being shutdown (since I don't have any CapOne cards).

About 10k of MOs in one month. The tripwires vary by institution as they configure their analytic tools. Some institutions are more risk adverse than others.:cool:

How do you explain what you are doing at the bank? I use the teller and ATM at 3 banks and cu.

If the bank is suspicious, they will call you if you do ATM deposits.

Back when I had the 6 mo 5% CC, I was doing ATM deposits at Key Bank. I was recycling my CL, so I was doing a push or pull immediately.

They called and asked what i was doing. A few weeks later, I got a letter about the shutdown!

IME it is not the tellers to worry about, all financial institutions have a Risk Management Group behind the scenes that CAN be alerted by one's account activity. I found this out from a CU where the tellers were really friendly but I got a call from the CU HQ asking me about my regular MO deposits (that time it was only $2.5K/week avg). I just told them I was paying my bills using their billpay service and if it wasn't acceptable to them, I'd stop depositing my MOs there. From then on, ffwd to 18 months I've been using this CU w/o issues for up to $20K a month deposits if my prepaids have all been maxed out.

bottomline here is the tellers cannot vouch for a customer once they get flagged by the RMG of a financial institution.

Thanks, I haven't tried for any new prepaids since Serve and BB.

Don't forget, Wachovia was acquired by Wells Fargo, and we all know how that ended up...

As a teller at a CU, I can vouch for this. It's mostly risk management that is monitoring accounts and looking for suspicious activity rather than us going out of our way to detect and report it. We constantly get emails from HQ asking if we know why a member is taking out a lot of cash all the sudden or whenever someone is doing something unusual, etc.

With each institution I've used, as soon as I ramped up any volume I've been questioned by curious tellers and called by risk management. I'm honest with all of them and my answers, up to now, have satisfied everyone.

Obviously that doesn't work for everyone, this thread proves that.

regarding that CU whose RMG called me, the next time I went to the CU, I asked the friendly BM about the call from HQ and she said I've been cleared. I refreshed her memory the time I opened the account and told her what I'd be doing so she knew I was going to pay a lot of bills with my deposits and she said that was fine. She assured me that my account was in good standing after she discussed it with RMG and so far, it's been uneventful since then. This is the only FI that questioned me about my MOs, the other local banks I've used longer have not said anything to me.

Its all YMMV in this game.:cool:

After a solid year (a good one) just got a closing-in-30-days letter from UFB, dated 3/15.

All my volume goes to one branch of one bank and has for years. My explanation: "I'm doing this to earn credit card points and miles." Has always worked for me. Why? Because it's true. And I do all my other banking with them.

Andyandy

Sounds like no one is giving the full story, just part of it to a bank or whoever. I say "It is a way to earn miles while paying bills". I don't give details of how it works. Bill pay is the greatest invention, but will probably get me shut down.

When you get shutdown, do you get a bad mark on your credit report? I suppose it depends on the bank. It sounds like after a while you can get credit from that bank again usually.