Thank you. I hadn't heard of any shutdowns with this card.

Update: Application pending.

So from nowhere, Chase decided to end 18 years of relationship with them and close my personal checking account and all my personal and business credit cards with them (9 in total Credit Cards). All this is just weird and here are some reasons:
1- they closed everything except my 10-year old business checking account.
2- they approved me for Hyatt Business at the beginning of the year. I just finished the normal and extra spending on it. How? Legit business expenses.
3- never miss any payment and pay everything fully.
So of course no reason in the letter, from a banker on the branch, or a supervisor on the phone. I was trying to think about the reason behind that and the only thing that comes to my mind is getting a lot and large zelle transactions to my business account. Those are actual business transactions. But they didn't close the business account 🤷🏻‍♂️
I just want to share this with you guys and let you know. It seems to be a lot of people were targeted by Chase and they are closing a lot of accounts from what I just searched lately.

So from nowhere, Chase decided to end 18 years of relationship with them and close my personal checking account and all my personal and business credit cards with them (9 in total Credit Cards). All this is just weird and here are some reasons:
1- they closed everything except my 10-year old business checking account.
2- they approved me for Hyatt Business at the beginning of the year. I just finished the normal and extra spending on it. How? Legit business expenses.
3- never miss any payment and pay everything fully.
So of course no reason in the letter, from a banker on the branch, or a supervisor on the phone. I was trying to think about the reason behind that and the only thing that comes to my mind is getting a lot and large zelle transactions to my business account. Those are actual business transactions. But they didn't close the business account 🤷🏻‍♂️
I just want to share this with you guys and let you know. It seems to be a lot of people were targeted by Chase and they are closing a lot of accounts from what I just searched lately.

applied two cards for p2 new to boa and quickly ramped up that got eye on account. Was mostly ms and they shut it down

Any luck in getting reinstated? Was this your first shutdown at BOA or have you been in and out.
We have very little info on BOA shut down procedures and reinstatements.
Your DP is valuable. TIA

My guess would be that it was the Zelle transactions and that they will close your business account as well. Please keep us posted.

I'd like to learn about the hazards of Zelle payments. I've only accepted Zelle from one of my neighbors. I don't know if that was a strange coincidence, but my credit report recently asked asked if I was associated with the address of that neighbor.

Zelle was the commercial banks response to Venmo,which garnered a large chunk of the small personal transactiions between people.
I have no idea how they made money allowing people to move small amounts amoung each other, except for the small balances (usually less than $50) kept by them. They did have fees for immediate transfers of cash out of their account to a commercial bank and don't pay interest on balances, but still, small potatoes.
This may be why Venmo has branched out into business accounts. Probably more lucrative. However, there really is no way for Venmo or Zelle to verify the source of funds, but if someone is sending $10 to their friend, most LEOs don't give a heck.

However, when someone is getting thousands of dollars into their account and has no documentation for its origin, most commercial banks will shutter those accounts.

With that as a foward,
I suspect most businesses will not take payments by Zelle for their products. PP...yes, Venmo....doubtful.
Long explanation, but most likely your Zelle transactions was the source of your shutdown. Sorry to hear it, but a good warning to others about using these alternative payment methods for MSing

I think this was meant for AhmedRadhy. I have no shutdowns to report. Just wondered why this was blamed on Zelle, rather than business cycles, combo of deposit & CC accounts, profitability algo's or any other familiar culprits.
I also appreciate the explanation. But in most cases personal transfers are perfectly traceable and miniscule in size. Let's reserve the judgment on Zelle for now.

Attribution noted

Actually, there isn't any method to determine where Venmo gets its cash. As long as I have some bank or debit card account and put cash into it, I can use it to send money to anyone anywhere just using a phone # or email account. And once that money is sent by Venmo, it is gone.
Venmo doesn't care about your affairs with said bank. There is no responsibility to manage ML by Venmo. It would be the bank that is attached to the Venmo account that would bear that responsibility since Venmo is nothing more than a conduit for the cash.

But Zelle is the banks product, run by the banks. So the requirements for managing MLing is the banks . So a bank that sees someone doing lots of cash activity on Zelle would be responsible for monitoring and reporting that activity, unlike Venmo who will point a finger at the questioned account's bank saying it's that organization that has to keep track of the cash flow....I'm just the pipeline moving the money from one person to another.
Hope this helps a little.

this was 1st shutdown for p2 in 2021/22. Recently applied for alaska card was denied got letter after few days stating account was closed previously with one of our institute

Would be interested if you tried contacting Chase and getting some rationale and talking to anybody... since it sounds like you were incorrectly targeted probably by some algorithm and then some jackass just clicked the close button without looking if the transactions were real/business.

They never and from numerous DPs, emphasize never, reveal specific reasons for a shut-down so discussions as to why the closure is futile. However, discussions as to if you can be reinstated may bear some positive responses.
In general, that should not be done for many months.

So basically its like a communist regime... you can be found guilty and cards revoked without knowing why and no way to question it even if it is wrong?
Is Putin running these departments?

It may be legal in nature.
The bank never wants to admit in any fashion that it aided or abetted a ML scheme or person, so rather than take the time to find out about questionable transactions, they just shut down the whole show and don't ask questions. If some legal authority comes by later asking questions, the bank can simply say they closed the account according to their T&Cs without disclosing any more info. And if you can't ask why, they don't have to supply an answer. It's that simple.