cvfd1607

Why?

Astrophsx

If the 17 were actual individual accounts and not 4-5 accounts with a lot of authorized users on the Amex side. I'm not sure, but if Chase shuts you down and you have more than one account with them.. can they shut those down as well?'

cvfd1607

These are 17 actual individual accounts with a wide range of banks

US Bank
BofA x 2
Amex
Chase x 5
Citibank
BB&T
Fort Knox Credit Union Card
Nationwide Bank
And others.

Andy2

That is a good point. Maybe he should start slow, like $1,000 or $2,000 a month on the SWA and make sure he doesn't get a phone call. I just don't think any card company has paid any attention to Mint purchases since the $1,000 at a time rule was imposed. The problems I remembered were associated with huge coin transactions. But I didn't have those problems, so I am going from memory. In the good old days, I purchased $5,000 at a time on a Chase card with a $12,000 line of credit and never got a call, and I took the total card balance to $9,000 or so prior to paying it down to $0.

Astrophsx

There are a lot of things to keep in mind so you do not pull a drumdrum. A good reason to start small and get your feet wet is to see how the tellers at the bank react the first three times you go in. You also want to keep in mind that anyone can sign for these packages. I've never once been asked to provide an ID. If you are shipping thousands of dollars to your home or apartment you may want to think if it is really safe for you to do so. There are some members who use a USPS PO Box which usually cost around $30 per 6 months. I'm guessing that USPS is responsible for the package while it is there, while they may not always check your ID... you would have to have a key to the box or combination in order to get the pink slip they leave.

Gaujo

Ever think about how easy it would be for the Mint to link a guy dropping off a few thousand dollars in mint shiny coins to a bank and a guy with the same name purchasing corresponding quantities of the same coins???

I bet that within 12 months, some fresh college grad at the GAO has a bright idea...

msp2anywhere

^^^

Just like breaking out and achieving visual during an ILS within minimums...

Oh- and:

23) Watching my kid counting out their coins -one by one- for their first major purchase (a $132 Nintendo DS at Target).

JudyJFLA

Could someone IM me as to if Chase and Citi AA work on Giftcards.com as a purchase? At Least the major brand Gift cards should still work if Amex Gift is not, correct?

JudyJFLA

Marathon Man

Oh yes... I knew there'd be at least one like you!

I will make this one #24... Making the cynic roll their eyes despite the mileage being earned. Just because they must

thank you for your valued post. It contributed to the poll. Now was that a hard poll or a soft poll?

Andy2

The Mint does not have access to private bank account information and it is unlikely that any SARs are being filed for such small deposits. I don't think the Mint even accesses SARs, but I don't know for sure. It wouldn't make any sense for them to have such access.

You are also ignoring the fact that the Mint was the group that actually started all of this. This program allows them to clear out inventory that would cause them to have horrible financial results if the inventory goes unsold to banks. When the banks made it clear that they would not buy the dollar coins, the Mint began selling to customers with free shipping and no credit card surcharges.

Selling the inventory helps the Mint. The restrictions we face are a direct function of how high the inventory is. The "no immediate deposit" language appeared after the negative publicity in the WSJ article. You can't convince me the Mint didn't know what was happening prior to that article.

The GAO could care less about whether individuals spend or deposit coins. They are not an enforcement agency. If the dollar coin program is not beneficial to the U.S. government, the GAO will recommend to Congress that it discontinue the dollar coin program. The GAO reports to Congress.

More likely, the GAO will recognize that the ultimate deposit of coins (and all of the coins eventually get deposited in the bank by someone) has built an infrastructure that will permit the law to be changed reducing and/or eliminating the dollar bill. The good accountants at the GAO will recognize that dollar coins cost less money in the long run than dollar bills.

This program achieves the original result that the Mint makes dollar coins that end up in banks. The individual purchasers of the dollar coins are a ncessary middleman to achieve the result. Spending the coins provides awareness of their existence and is to be commended.

Marathon Man

well I'm totally screwed then. My USPS slips have been yellow this entire time!

Astrophsx

?

I'm not sure the Mint truly cares what you are doing with the coins as long as they aren't catching any flack for it. Some time ago I think someone posted about trouble with their orders... they had 4-5k.. and the Mint did nothing to stop them.

Marathon Man

ah... you have kids that know what money is!

My 2 and 4 year old like the goldness of these things so I cannot really bring them near them. Last time I let my son handle a roll of $25 he smacked it on the coffee table and they chased rolling gold around the living room's wooden floors for 20 mins

I got it all back but it involved the purchase of dolls, trucks and candy lol

Marathon Man

Oh, just a FYI...

Citi has gone through some sort of upgrade whereas a few things are now true:

1) virtual accts are temporarily down. I have been unable to generate them on any computer via web or downloaded app for at least a week and tonight I confirmed with at least 2 CSRs at Citi by contacting tech at 800 347 4934 that indeed the virtual gig is down for now. They are working on it.

2) if you have a citicard.com acct (for your credit card) and a citibank.com acct for your banking, heloc, savings and links to CCs, the citi world is trying to make it all one now. To do this they are now having people effectively re register the bank one by choosing a NEW username (oh joy, for those of us who like to use the same ones for things) and this basically deletes all instances of all old PWs, and also renders the citicard site useless. This also means that if you had linked some external banks to your citicard, you gotta do it again on citibank.com (in the service center tab).

3) it all stinks. Could the fact virtual numbers are down for now have ANYTHING to do with anything mint-like?

dayone

I'm an observer, not a participant. You'll need to dazzle us with more of your creativity if you want to shoehorn me into your soft pull of our legs.