LOL good luck

Yes

I received a phone call from discover asking about my loading of funds to the account at WM. The discover agent was really chill and asked about my loading history at WM which is far less than it was last year. I told him I have some rental properties and get paid in cash by some of the tenants and that's what I deposit at WM. He didn't press the issued, just said he'd note that on the account. Call took less than five minutes start to finish.

looks like this will be going down soon. How much vol?

Only $2K/week consistently since December for that account since I'm using my remaining One Card, BB, and Serve cards for most of my volume these days.

what was the last year's volume?

Pull now while you still have a non-restricted demand account.
There are many DPs out there with Discover being less than speedy about returning money deposited to them.

If they believed you, they would ask for documentation of your rentals and income, balance sheets, etc.

Pull your money out and let us know how you did with Discover. DPs are always appreciated.

Interesting, please let us know the DP Prometheus77.
My go-to answer is deposits from cash sales of goods - I have a DBA to back this up which I file taxes on.

Out of curiosity, if Discover shuts down the Debit account, do they go scorched Earth like Chase and whack everything (Discover credit cards, savings, etc.)?

There were calls like this reported late last year (even in this thread), has there ever been a confirmed shutdown afterwards?

The money doesn't stay in the account long enough to be a problem if they freeze or close the account. I load $1k on Friday and Saturday and it gets pulled out via a CC payment every Monday so the most they would get would be $2K and that small an amount isn't a problem to float while they play games getting it back to me.

My rental properties are real and under and S-Corp which I can produce legitimate records for so I can provide them with whatever they ask for if they did.

My Player 2 got the call last October and while they asked a bit more questions than my agent they never took action on the account and we still load to it as well. I don't remember ever seeing any shutdown reports, but it's possible someone has.

You guys don't have to fib to Discover about how and why you're loading the account, I would just tell the truth - it probably will make more sense to the person in the AML context they are asking. They'd probably rather hear you are loading with prepaids you purchased yourself to earn rewards, than that you are loading untraceable cash "from my legitimate business", I mean that's what a money launderer would say. Granted at only $10k a month, there are probably alot of made-up reasons they will accept, but when you get these calls on deposit accounts for much higher amounts, it's usually better to just tell the truth.

Yes but you know rental payment is not what you are loading to discover. If tenants are paying cash then how come you are loading the money using prepaid cards which is very easy for discover to see. What would explain 499/498 consistent loading? Tell the truth is the best strategy in this case, at the most they shut down. As long as we are not get thrown in jail, dont have to pay hefty fines etc those are the types of things we have to safeguard first, everything else is secondary including discover card, bank account shutdowns etc, who cares?

As long as you have the documents to back up your deposits of cash equivalents, esxpecially tax returns, then you are safe.
You are correct that many businesses do a cash based business.

However :( :(, you also run the risk of a tax audit. Cash transactions are a big tell for our friends at the IRS.
And now, with more "friends" than ever thanks to Uncle Jo and Congress, the liability only grows.