This is not true. I've seen many dp's of arrivals getting shut down.....just not recently because I think many of the heavy ms'ers are already busted. I do not have any cards open with them at the moment, but I did used to ms with them quite a bit without issue.

Looks like she had previous travel charges to redeem against. I'm out of luck as I don't so it looks like 1% redemption is my best option unless there is some sort of better GC option.

I forgot about posting this when it happened -- I live outside the country now, but since MSing still works, I did some of it when I came back to the US to visit. In April, 2017 I did a bunch, but since I was mostly staying at my sister's house in IL and my CU is in Madison, WI, I decided to try their smartphone deposits rather than drive to the nearest branch in WI.

It worked fine, but was a bad mistake, because all the $1000 deposits drew the attention of some backroom guy, who contacted me and told me I can't do any more MSing with them. He knew all about the process, and his justification was that it doesn't serve a banking purpose. He did let me deposit the remaining MOs I had, which were over 20K. I've had my accounts there since the early 1970s.

So unless I find a new friendly bank, difficult to do since I don't live in the US, I'm out of the game after four years of GCs to MOs to CU to CC payments.

My high point was May, 2016, when I deposited $147,000. I averaged $86,750 in the first six months of 2016, building up for when I left the country in July.

I routinely cycled through my CL on multiple cards multiple times a month and never heard a peep from any of the CC companies -- Citi, Chase, AmEx, Barclays, USBank and Bank of America. They just kept raising my CLs.

The next time I'm in town, I will go talk to the very friendly tellers I dealt with and see if they've been told to deny me. If not, I'll try a few in-person deposits, using MOs in smaller, non-even amounts to an account I never used for MS (set up as a business account when I was self-employed long ago) and see if the backroom guy catches them. It's worth a shot.

It was a great run, resulting in many, many international trips in C and F to 4- or 5-star hotels. I still have a few trips to go.

Sorry... you can't open a new checking account...why again?

At no point did you consider having multiple checking accounts? Banks pay you to open checking accounts ya know. And never put your deposits through a bank you've had a long term relationship with (and want to keep it that way).

I don't have a US address or a job. I think that makes opening an account in the US a bit more difficult.

I considered opening other accounts many times, but it was working very well with my CU, ever since the GC>MO>deposit>pay MS process became available. That's a long time.

Your "never" runs contrary to my experience -- many here have written of their various banking troubles, but I never had them, and if I had simply continued with my in-person depositing, probably would still not have any.

My long-term relationship still exists, and I will find out if the MSing ban is permanent. It's really not that important, since I can only MS the few weeks in a year that I'm visiting the US. If and when I move back to the US, then I will consider if I want to start up again, assuming the opportunity still exists.

Sounds like this is exactly what happened to you. You couldn't keep both your deposits and the bank account. One had to go.

1. Shutdown by Bank of America (Checking + Savings) 8/21/2017
2. Checking account opened June 2012; savings recently
3. Average account balance 5K
4. Average MS (MO deposits) 30K / month started 2 years ago
5. No cycling CL
6. No BP

I did the 10K savings offer where you get $150 after depositing 10K during 30-days initial period (deposited in mid-April 2017), then keeping the 10K in there for the 60-day subsequent period, and then receive $150 within 60 days of this. I guess they will try to shaft me out of the $150 and I will have to do CFPB complaint.

Two letters dated 8/21 received 8/22 saying my deposit accounts will be restricted in 21 days and permanently closed in 30 days.

I also have Cash Rewards, Better Balance, and Merrill+ CCs which I did not receive a closure notice for, but I suppose I should cash out 53K Merrill points before they take those too. BofA always gave me measly CLs compared to other CC issuers.

One interesting thing to think about is that if I had used a bunch of local CUs instead, I could have been shutdown by all of them even if this volume was spread out.

The letters do not say I am barred from opening deposit accounts in the future.

Why do you think so? If you would spread all your deposits to multiple banks/CU's keeping the overall limit < $5k/month, i don't think result would have been same.

Bank deposits don't serve a banking purpose? Oh, but in the days of the financial crisis these banks were begging customers for deposits and sticking their grubby hands in the taxpayers pockets to pull out cash. Next financial crisis when the banks stick their hand out, slap it away and tell 'em begging serves no pupose.:D

Sorry to hear loosing your MS channel.
Few points worth considering depend on your risk tolerance and financial institute's pattern you observe.
1. Not all CUs has financial capability to develop sophisticated data mining for Risk and compliance department. Chances of getting shutdown by software alert for MO deposit is relatively less compared to big traditional banks. Do not deposit MOs at big banks.
2. MS is tempting. Keeping your MO deposit volume in moderation along with your daily spend transactions. It will bland your shutdown risk.
3. Follow rule not to deposit MOs where you MS with your CC. It will reduce your chance of getting caught from both end for shutdown.

Let us know what happens with your CC. How long they will be alive after Bank a/c shutdown?

Good luck with your future MS.

Thanks for the tips. I actually did very little MS (avg. less than $500/month) on BofA CCs.

It appears only the Merrill+ card with 53K points has been closed. It vanished from online banking on 8/24. I sent a letter to BofA legal department requesting $680 ($530 points + $150 savings bonus). I should not have saved the 53K points for travel (you can buy certain travel tickets up to $500 for only 25K points)... Surprising how blatant they are, only closing the CC that had accumulated points.

Is there hard data to back this up? I would assume that any financial institution would have some sort of alert system in place to protect themselves. I could be wrong, but I would assume that smaller CU would want to protect themselves since they do not have much a reserve.

Maybe these CUs and smaller FIs dont have the systems that flag our activity?

Shutdown by Santa Rosa County Federal Credit union
Account open for 13 Months
Average account balance for checking is hard to say. Fluctuated quite a bit.
MS volume 80-100k for 7 months. Took a 5 month break and got shutdown for doing 90k this month

Bad news for me today as I got a phone call informing me that I can no longer deposit MOs or checks in my account. The account remains open and I can continue to deposit cash or use my debit card. I had a fairly long and fairly pleasant conversation with the lady. When I asked her why I was restricted she mentioned red flags from auditors for money laundering suspicion. I explained what I was doing and she said she knew I was engaging in MS and thought that I was taking advantage of the credit card companies. I told her that the more MS I did the more the credit card companies raised my credit limits and that is seems like they would shut me down if they didn't like what I was doing. Then I think I got the real truth out of her. She said that my account was costing them money because I move the money out so fast and it cost them to process so many money orders. She said once more that I was free to deposit cash. To me, that would look more like money laundering than depositing MOs. Anyway a bad day for me. I might retire from heavy MS and take up credit card churning. Too much trouble to open multiple accounts and make small deposits to each. I had a good thing going, sucks that its gone. If anyone knows of banks or CUs that will tolerate high volume MO deposits please respond or PM. Thanks.