Apr 6, 2017, 2:38 pm
Last edit by: ChrisFlyer66
This is the thread for 2017. The 2018 discussion can be found here.
When reporting/posting here please give as many details as you can or you will be asked for it anyways. Copy and paste the text below and alter as needed.
1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and brcl@y)
2. Length of account before closure and CL?
3. Average monthly account balance checking and savings?
4. Volume of ms per month and how many months?
5. Cycle CL?
6. Did you BP using both options?
- BP by issuing bank (@m3x, chs3, c1t1 and brcl@y)
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
When reporting/posting here please give as many details as you can or you will be asked for it anyways. Copy and paste the text below and alter as needed.
1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and brcl@y)
2. Length of account before closure and CL?
3. Average monthly account balance checking and savings?
4. Volume of ms per month and how many months?
5. Cycle CL?
6. Did you BP using both options?
- BP by issuing bank (@m3x, chs3, c1t1 and brcl@y)
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
2017 Shutdown Thread
Feb 25, 2017, 1:33 pm
#92
Join Date: May 2002
Location: LEESBURG, VA, USA
Posts: 254
Suntrust Checking account shutdown
Just got a certified letter today from Suntrust CPWM Regulatory team informing me that they will no longer be able to provide some of the financial services i require. I have been requested to close my account by March 23.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
Feb 26, 2017, 9:53 am
#93
Join Date: Jul 2015
Programs: SW,SPG,Hyatt
Posts: 87
Wow. Sounds like that CU is just waiting to be targeted by money launderers. They have no systems in place to warn them about unusual activity re risky patterns, like like a ton of MO deposits/month, month after month.
Just curious, is the MS worth your time? I'm guessing it's mostly online purchases of $500 VGCs? It seems your local WMs are just as laid back as that CU
Just curious, is the MS worth your time? I'm guessing it's mostly online purchases of $500 VGCs? It seems your local WMs are just as laid back as that CU
Feb 26, 2017, 10:07 am
#94
Join Date: Feb 2013
Programs: Hyatt Globalist, MLife Gold, Marriott Gold, HHonors Gold, Caesars Diamond, Amex Plat
Posts: 5,931
Just got a certified letter today from Suntrust CPWM Regulatory team informing me that they will no longer be able to provide some of the financial services i require. I have been requested to close my account by March 23.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
Feb 26, 2017, 2:30 pm
#95
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Guess SunTrust filled the CPWM-AML High Risk Account Team Lead position they advertised in November and are now saving the world from perfectly legal Manufactured Spending.
Just my humble opinion, but maybe the CPWM-AML High Risk Account Team ought to really be trying to prevent a repeat of the type of large scale ML that the Florida police agencies were able to get past SunTrust?
http://pubsys.miamiherald.com/static...der/spend.html
Just my humble opinion, but maybe the CPWM-AML High Risk Account Team ought to really be trying to prevent a repeat of the type of large scale ML that the Florida police agencies were able to get past SunTrust?
http://pubsys.miamiherald.com/static...der/spend.html
Just got a certified letter today from Suntrust CPWM Regulatory team informing me that they will no longer be able to provide some of the financial services i require. I have been requested to close my account by March 23.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
I have had checking account with them since 1989 and was my primary account. Large portion of my paycheck from regular job goes into this checking account as well as paycheck from my part time job. My wife's paycheck goes into this account as well.
I have deposited maybe about 5000 dollars in money orders per month in this account for the past 3 years. Funny thing is that when Skymiles (unlimited) debit card was alive, i hit it hard. About 30K in money order purchases and then deposited right back into the account. Nothing happened then.
Oh well. Checking account was the only relationship i had with them. I will move on.
Mar 3, 2017, 11:08 am
#96
Join Date: Feb 2015
Posts: 910
I couldn't find much of any datapoints here or on previous years' shutdown threads for Wells, as far as MO deposits. Is there any known safe limits so to speak, or datapoints abt being shut down after certain volume of MO/month?
Mar 3, 2017, 11:25 am
#97
Join Date: Sep 2014
Posts: 1,837
ive had a checking account for a few years and I think it's limited to 3k/mo
Mar 3, 2017, 1:05 pm
#99
Join Date: Nov 2016
Location: SFO
Programs: Hilton Diamond, Marriott Gold, IHG Plat
Posts: 756
Mar 4, 2017, 5:58 am
#100
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Mar 4, 2017, 6:52 am
#101
Join Date: Jul 2016
Location: NY
Posts: 523
It varies by branch. Some will gobble up MO's like they're M&M's, while others will look at you strangely for just one.
Mar 4, 2017, 7:49 am
#102
Join Date: Oct 1999
Location: Atlanta, GA
Programs: AA PLT, AS 75K, DL DM, HY Globalist, HH Diamond, MC/RZ/SW Platinum, AB/UA Silver, WN CP
Posts: 1,122
My understanding is that if you open a biz account and deposit them all there, you're golden. Virtually no limits.
Mar 4, 2017, 5:32 pm
#105
Join Date: Feb 2017
Posts: 20
Just received my first ever shutdown letter, from UFB Direct.
- Deposited $500-$2000/month in MO for the 5 months I have the account.
- Used the debit card a couple times/month
- The letter didn't cite a reason, just said per my agreement with them, they elected to close the account. The closure is effective in 30 days upon receiving the letter.
I actually already decided to stop depositing MO there because it takes 5 business days to clear, so it's alright they wanted to sever ties with me. Just hope it doesn't leave a dent on my ChexSystems record
- Deposited $500-$2000/month in MO for the 5 months I have the account.
- Used the debit card a couple times/month
- The letter didn't cite a reason, just said per my agreement with them, they elected to close the account. The closure is effective in 30 days upon receiving the letter.
I actually already decided to stop depositing MO there because it takes 5 business days to clear, so it's alright they wanted to sever ties with me. Just hope it doesn't leave a dent on my ChexSystems record
