Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Mar 20, 2011, 4:52 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
FYI: over the years, I have had at least 3 orders show up as 'order not found' in the tracking window and yet they ship fine and I get charged. Sometimes you just gotta wait and see.
Mar 20, 2011, 4:55 am
Join Date: Sep 2009
Posts: 144
Mar 20, 2011, 4:59 am
Join Date: Sep 2009
Posts: 144
Mar 20, 2011, 5:33 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
I explained many pages ago all about a small chain of banks in my area that ceased to like me because of multiple coin and money order deposits. While I used this bank for other regular needs, the manager skirted around issues and basically said he didn't dig the constant deposits and WDs of so many thousands of dollars in succession. He even asked what I do for work and whether a man of my assumed means would have the reason to carry this kind of cash. I was appalled at this line of questioning and so I asked him:
If I had an equity line at citibank, for example (which I do) and it was over $200k (which it is) and I did nothing with it or its associated means (a citi CC for example) except to buy coins, buy money orders, deposit them in many banks and then take out the money and pay back that EQ line just to do it all over again, what would be the 'crime' or harm in that? If I did this just for a hobby, where would any rules be broken as long as I (A) paid back whatever was due on time (B) only took out money that was showing up as 'available funds' in my account, and (C) was willing and able to fully disclose my ID, SSN, account information and anything else if and when required by the banks?
I also told him I had been in marketing and working as a consultant in promotions, ski industry and some publishing/graphics work but now I'm currently the stay at home dad while my wife's line of work has picked up heavily. We have few bills because the mortgage is paid off so I can move my own money around with a slightly greater ease than some.
He could not answer any of my line of questioning but they later closed my account. They have never given me a full reason as to exactly why this happened but I know already.
Again, I went over it pages ago so go back and look, but the point is, banks are as bad as they tell us we are when it comes to deals, schemes and promos. No negative reporting has been made against me by this or any other bank and I still have many banks available for use.
I'm just sayin...
If I had an equity line at citibank, for example (which I do) and it was over $200k (which it is) and I did nothing with it or its associated means (a citi CC for example) except to buy coins, buy money orders, deposit them in many banks and then take out the money and pay back that EQ line just to do it all over again, what would be the 'crime' or harm in that? If I did this just for a hobby, where would any rules be broken as long as I (A) paid back whatever was due on time (B) only took out money that was showing up as 'available funds' in my account, and (C) was willing and able to fully disclose my ID, SSN, account information and anything else if and when required by the banks?
I also told him I had been in marketing and working as a consultant in promotions, ski industry and some publishing/graphics work but now I'm currently the stay at home dad while my wife's line of work has picked up heavily. We have few bills because the mortgage is paid off so I can move my own money around with a slightly greater ease than some.
He could not answer any of my line of questioning but they later closed my account. They have never given me a full reason as to exactly why this happened but I know already.
Again, I went over it pages ago so go back and look, but the point is, banks are as bad as they tell us we are when it comes to deals, schemes and promos. No negative reporting has been made against me by this or any other bank and I still have many banks available for use.
I'm just sayin...
Mar 20, 2011, 6:33 am
Suspended
Join Date: May 2010
Posts: 2,998
Mar 20, 2011, 6:44 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
my few/rare occasions doing this have NOT been worthy.
in the office of one bank manager, I told them a brief idea of what I did to get the coins/miles and her reply was: "Well, since our bank doesn't want to handle these and there are costs in our doing so, someone has to foot the bill. If you say you are getting free miles for it, the it's time you pay instead of somebody else." With that, I walked out and have never been to that branch again--although I deposit elsewhere in the same bank.
Another bank said the same basic thing with a reply such as, "so you are getting rewards out of it? Well nothing is for 100% free, so you gotta pay sometime."
that one reminded me of the time I called an airline about a problem with an award ticket and the agent's comment was something like, "well, it was free, so why are you complaining?"
As we all know in here, NOTHING about doing coins for miles is really FREE. There is WORK involved.
Other bank employees who have either no concept of how FFPs work or would think of them as scams and schemes they'd never do will glare at you with discontent should you let them in on the secrets of our world. They just DO NOT get it. It's like trying to justify to most cops that going 42 in a 40 should be OK. You kinda gotta let THEM make that call--always.
I also fear that if I were to tell the tale of miles and mint to some of the more straight laced/self righteous types of bank-esque people in the world, one of them would get into that psuedo moral/ethical debate with me about all of it (intent of the program, use of the credit card, use of banks, income, taxes, etc--things that we have all understood but they do not but think they do) and one of them might even CALL the mint to try to put a stop to it or at least put something in motion.
I have seen people like that try to stop you from doing things just because they feel they must. It is often human nature for some people to try to prevent another from gaining something just, well, because. And they may see US as gaining something they think we should not gain.
I have therefore concluded that there is no benefit in telling anyone below say a VP of a bank or some high level security officer exactly HOW or WHY we do this stuff. If I am ever at that level I might tell that person but it has not happened yet. For those people, it would in fact ease their minds as to what's going on with all the money, and then they should have no problem with it, but for everyone below, it just confuses them and embarrasses you. After all, they think we are weird.
in the office of one bank manager, I told them a brief idea of what I did to get the coins/miles and her reply was: "Well, since our bank doesn't want to handle these and there are costs in our doing so, someone has to foot the bill. If you say you are getting free miles for it, the it's time you pay instead of somebody else." With that, I walked out and have never been to that branch again--although I deposit elsewhere in the same bank.
Another bank said the same basic thing with a reply such as, "so you are getting rewards out of it? Well nothing is for 100% free, so you gotta pay sometime."
that one reminded me of the time I called an airline about a problem with an award ticket and the agent's comment was something like, "well, it was free, so why are you complaining?"
As we all know in here, NOTHING about doing coins for miles is really FREE. There is WORK involved.
Other bank employees who have either no concept of how FFPs work or would think of them as scams and schemes they'd never do will glare at you with discontent should you let them in on the secrets of our world. They just DO NOT get it. It's like trying to justify to most cops that going 42 in a 40 should be OK. You kinda gotta let THEM make that call--always.
I also fear that if I were to tell the tale of miles and mint to some of the more straight laced/self righteous types of bank-esque people in the world, one of them would get into that psuedo moral/ethical debate with me about all of it (intent of the program, use of the credit card, use of banks, income, taxes, etc--things that we have all understood but they do not but think they do) and one of them might even CALL the mint to try to put a stop to it or at least put something in motion.
I have seen people like that try to stop you from doing things just because they feel they must. It is often human nature for some people to try to prevent another from gaining something just, well, because. And they may see US as gaining something they think we should not gain.
I have therefore concluded that there is no benefit in telling anyone below say a VP of a bank or some high level security officer exactly HOW or WHY we do this stuff. If I am ever at that level I might tell that person but it has not happened yet. For those people, it would in fact ease their minds as to what's going on with all the money, and then they should have no problem with it, but for everyone below, it just confuses them and embarrasses you. After all, they think we are weird.
Mar 20, 2011, 7:04 am
Suspended
Join Date: May 2010
Posts: 2,998
my few/rare occasions doing this have NOT been worthy.
in the office of one bank manager, I told them a brief idea of what I did to get the coins/miles and her reply was: "Well, since our bank doesn't want to handle these and there are costs in our doing so, someone has to foot the bill. If you say you are getting free miles for it, the it's time you pay instead of somebody else." With that, I walked out and have never been to that branch again--although I deposit elsewhere in the same bank.
Another bank said the same basic thing with a reply such as, "so you are getting rewards out of it? Well nothing is for 100% free, so you gotta pay sometime."
that one reminded me of the time I called an airline about a problem with an award ticket and the agent's comment was something like, "well, it was free, so why are you complaining?"
As we all know in here, NOTHING about doing coins for miles is really FREE. There is WORK involved.
Other bank employees who have either no concept of how FFPs work or would think of them as scams and schemes they'd never do will glare at you with discontent should you let them in on the secrets of our world. They just DO NOT get it. It's like trying to justify to most cops that going 42 in a 40 should be OK. You kinda gotta let THEM make that call--always.
I also fear that if I were to tell the tale of miles and mint to some of the more straight laced/self righteous types of bank-esque people in the world, one of them would get into that psuedo moral/ethical debate with me about all of it (intent of the program, use of the credit card, use of banks, income, taxes, etc--things that we have all understood but they do not but think they do) and one of them might even CALL the mint to try to put a stop to it or at least put something in motion.
I have seen people like that try to stop you from doing things just because they feel they must. It is often human nature for some people to try to prevent another from gaining something just, well, because. And they may see US as gaining something they think we should not gain.
I have therefore concluded that there is no benefit in telling anyone below say a VP of a bank or some high level security officer exactly HOW or WHY we do this stuff. If I am ever at that level I might tell that person but it has not happened yet. For those people, it would in fact ease their minds as to what's going on with all the money, and then they should have no problem with it, but for everyone below, it just confuses them and embarrasses you. After all, they think we are weird.
in the office of one bank manager, I told them a brief idea of what I did to get the coins/miles and her reply was: "Well, since our bank doesn't want to handle these and there are costs in our doing so, someone has to foot the bill. If you say you are getting free miles for it, the it's time you pay instead of somebody else." With that, I walked out and have never been to that branch again--although I deposit elsewhere in the same bank.
Another bank said the same basic thing with a reply such as, "so you are getting rewards out of it? Well nothing is for 100% free, so you gotta pay sometime."
that one reminded me of the time I called an airline about a problem with an award ticket and the agent's comment was something like, "well, it was free, so why are you complaining?"
As we all know in here, NOTHING about doing coins for miles is really FREE. There is WORK involved.
Other bank employees who have either no concept of how FFPs work or would think of them as scams and schemes they'd never do will glare at you with discontent should you let them in on the secrets of our world. They just DO NOT get it. It's like trying to justify to most cops that going 42 in a 40 should be OK. You kinda gotta let THEM make that call--always.
I also fear that if I were to tell the tale of miles and mint to some of the more straight laced/self righteous types of bank-esque people in the world, one of them would get into that psuedo moral/ethical debate with me about all of it (intent of the program, use of the credit card, use of banks, income, taxes, etc--things that we have all understood but they do not but think they do) and one of them might even CALL the mint to try to put a stop to it or at least put something in motion.
I have seen people like that try to stop you from doing things just because they feel they must. It is often human nature for some people to try to prevent another from gaining something just, well, because. And they may see US as gaining something they think we should not gain.
I have therefore concluded that there is no benefit in telling anyone below say a VP of a bank or some high level security officer exactly HOW or WHY we do this stuff. If I am ever at that level I might tell that person but it has not happened yet. For those people, it would in fact ease their minds as to what's going on with all the money, and then they should have no problem with it, but for everyone below, it just confuses them and embarrasses you. After all, they think we are weird.
Only at 1 place have I encountered any resistance and I suspect that's due to the 2 male tellers not being able to lift the coin bags without a great deal of difficulty. I suppose that snickering while they tried didn't help matters
Mar 20, 2011, 7:17 am
Join Date: Nov 2009
Location: NYC
Programs: AA Plat, DL Silver, MR Plat, SPG Plat, CP Diamond, PC Gold, HH Silver
Posts: 476
Mar 20, 2011, 7:19 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
We've had vastly different experiences with this. The last time I walked in to make a deposit, the teller yelled over to tell me she'd come change the counting machine bag as soon as she finished with her current customer. Quite often the branch manager will come out to take care of it instead of the tellers.
Only at 1 place have I encountered any resistance and I suspect that's due to the 2 male tellers not being able to lift the coin bags without a great deal of difficulty. I suppose that snickering while they tried didn't help matters
Only at 1 place have I encountered any resistance and I suspect that's due to the 2 male tellers not being able to lift the coin bags without a great deal of difficulty. I suppose that snickering while they tried didn't help matters
I was at one branch that had a manager that said she did not really want me to bring them in there... 2 months later I bring in 2k and they take them without issue whatsoever. No problems at all.
I was at a branch that used to take 1-2k from me without issue and then later they told me these need to be bagged by me in big bank bags of $1000 each but that this may not get verified for weeks
I was at a branch where a manager told me they have to take any coin from any customer so I could bring any amount at any time. I came in a week later with $$$$$$ and was asked to do it on Tuesdays only because that's when the truck comes. I came in the next tues with $$$$$$$ and they accepted it without issue. I came back later and thanked the tellers with a big box of chocolates. They were very pleased with this gesture. I came back the following tuesday at the same time of day and a different manager balked at me. She took my $$$$$$$$ of coins but told me to come earlier in the day and to now come with far far less. So much for the chocs.
Another bank all together claims to be able to accept any amounts and has been consistent thus far. I try not to push it with them but I feel resistance from some employees anyway, whereas others have no problem with it.
Again, if they see you as GAINING something from all of this, they would be less inclined to wanna WORK for you.
That is, unless you set up a business account, which often costs money somewhere.
Finally, most branches of most banks where I bring in say $500-2k max every like 2 weeks have no probs at all. But hey, if you had like say $20,000 in your trunk, WHERE would you get rid of your coins? and HOW?
Mar 20, 2011, 7:31 am
Join Date: Feb 2009
Posts: 3,740
I have therefore concluded that there is no benefit in telling anyone below say a VP of a bank or some high level security officer exactly HOW or WHY we do this stuff. If I am ever at that level I might tell that person but it has not happened yet. For those people, it would in fact ease their minds as to what's going on with all the money, and then they should have no problem with it, but for everyone below, it just confuses them and embarrasses you. After all, they think we are weird.
As well as:
"reported me delinquent on an equity line payment even though its bal was zero. This later made other banks and cards who periodically review ones credit now suddenly reduce my lines on three cards as my credit score dropped 90 points. As a result the citi eq line I do use was suspended.
Chexsystems now had me in its files as two banks reported me for suspicious activity and then amex did an FR on my spg taking away a months points."
And don't forget:
"Suntrust called and took back the DL miles but kept the fees and when the other coin boxes arrived one was sent back and still has yet to credit to my chase card which as a result will be short $1k from getting the yearly spend."
Not to be rude, but if I was new to this game you would be the LAST person I would want to take advice from.
Mar 20, 2011, 7:43 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
yes you are wrong about some of that but you bring it up as you see fit to utilize bits and pieces of some of what I have said for your own gain or my supposed demise.
my credit and equity line are fine. error fixed.
chexsystems was never contacted by any bank on me.
suntrust gig was clearly a joke.
it is the internet. Even though everything I have typed today and last night has been 100% true as I have experienced it, I do not expect you nor anyone to believe me at all. As you know, we should all use the information that people post here merely as guidelines and then follow up with our own research to confirm or deny how that same thing might work in our own worlds. If we do not, who do we have to blame but ourselves?
strangely, though, you DO believe me (and then post about it over and over again) if I say I experienced something negative. Why is that?
Yes sir, your final comment was rude. You do not need to take advice from me at all but it has been clear for a while now that you have been trying to discredit me in here at all costs. Mods have been notified as to all of this type of activity and more. Now I have no time for you so fire away all you want and I will go back to ignore mode. Besides, it's time to get out for the day. Kinda sunny here. Enjoy yours!
my credit and equity line are fine. error fixed.
chexsystems was never contacted by any bank on me.
suntrust gig was clearly a joke.
it is the internet. Even though everything I have typed today and last night has been 100% true as I have experienced it, I do not expect you nor anyone to believe me at all. As you know, we should all use the information that people post here merely as guidelines and then follow up with our own research to confirm or deny how that same thing might work in our own worlds. If we do not, who do we have to blame but ourselves?
strangely, though, you DO believe me (and then post about it over and over again) if I say I experienced something negative. Why is that?
Yes sir, your final comment was rude. You do not need to take advice from me at all but it has been clear for a while now that you have been trying to discredit me in here at all costs. Mods have been notified as to all of this type of activity and more. Now I have no time for you so fire away all you want and I will go back to ignore mode. Besides, it's time to get out for the day. Kinda sunny here. Enjoy yours!
Correct me if I'm wrong here, but didn't you in a previous post last month tell everyone how you lied to a few banks and got your accounts closed and a suspicious activity report filed on you?
As well as:
"reported me delinquent on an equity line payment even though its bal was zero. This later made other banks and cards who periodically review ones credit now suddenly reduce my lines on three cards as my credit score dropped 90 points. As a result the citi eq line I do use was suspended.
Chexsystems now had me in its files as two banks reported me for suspicious activity and then amex did an FR on my spg taking away a months points."
And don't forget:
"Suntrust called and took back the DL miles but kept the fees and when the other coin boxes arrived one was sent back and still has yet to credit to my chase card which as a result will be short $1k from getting the yearly spend."
Not to be rude, but if I was new to this game you would be the LAST person I would want to take advice from.
As well as:
"reported me delinquent on an equity line payment even though its bal was zero. This later made other banks and cards who periodically review ones credit now suddenly reduce my lines on three cards as my credit score dropped 90 points. As a result the citi eq line I do use was suspended.
Chexsystems now had me in its files as two banks reported me for suspicious activity and then amex did an FR on my spg taking away a months points."
And don't forget:
"Suntrust called and took back the DL miles but kept the fees and when the other coin boxes arrived one was sent back and still has yet to credit to my chase card which as a result will be short $1k from getting the yearly spend."
Not to be rude, but if I was new to this game you would be the LAST person I would want to take advice from.
Mar 20, 2011, 7:53 am
Join Date: Feb 2009
Posts: 3,740
Well just imagine this...
After ordering 9 sep orders on as many cards the mint held four on hold for two weeks and lost one order.
Then the others shipped to the po box and they initiated a new policy to make me pay for large parcels in my small box. One box was torn and as a result two rolls of coins were gone.
I took the rest to my area bank of 21 years and they refused the coin so I brought them home and cracked the rolls and bagged them myself. I smacked my pinky twice and its still throbbing.
I brought the bags to pour in another banks coin machines and these shorted me $5 and I deposited the dif.
I got home and there was a message from the bank manager. I called back and waited on hold 15 mins. He said my activity was like laundering so they closed my acct and mailed a check out for my bal.
Then...the first bank did the same thing only worse. They filed a SAR on me and a CTR and also closed my acct days later by mail but held my funds for a month.
In so doing they mistakenly reported me delinquent on an equity line payment even though its bal was zero. This later made other banks and cards who periodically review ones credit now suddenly reduce my lines on three cards as my credit score dropped 90 points. As a result the citi eq line I do use was suspended.
Chexsystems now had me in its files as two banks reported me for suspicious activity and then amex did an FR on my spg taking away a months points
Then they asked why my dog and cat were auth users.
Suntrust called and took back the DL miles but kept the fees and when the other coin boxes arrived one was sent back and still has yet to credit to my chase card which as a result will be short $1k from getting the yearly spend.
After ordering 9 sep orders on as many cards the mint held four on hold for two weeks and lost one order.
Then the others shipped to the po box and they initiated a new policy to make me pay for large parcels in my small box. One box was torn and as a result two rolls of coins were gone.
I took the rest to my area bank of 21 years and they refused the coin so I brought them home and cracked the rolls and bagged them myself. I smacked my pinky twice and its still throbbing.
I brought the bags to pour in another banks coin machines and these shorted me $5 and I deposited the dif.
I got home and there was a message from the bank manager. I called back and waited on hold 15 mins. He said my activity was like laundering so they closed my acct and mailed a check out for my bal.
Then...the first bank did the same thing only worse. They filed a SAR on me and a CTR and also closed my acct days later by mail but held my funds for a month.
In so doing they mistakenly reported me delinquent on an equity line payment even though its bal was zero. This later made other banks and cards who periodically review ones credit now suddenly reduce my lines on three cards as my credit score dropped 90 points. As a result the citi eq line I do use was suspended.
Chexsystems now had me in its files as two banks reported me for suspicious activity and then amex did an FR on my spg taking away a months points
Then they asked why my dog and cat were auth users.
Suntrust called and took back the DL miles but kept the fees and when the other coin boxes arrived one was sent back and still has yet to credit to my chase card which as a result will be short $1k from getting the yearly spend.
yes you are wrong about some of that but you bring it up as you see fit to utilize bits and pieces of some of what I have said for your own gain or my supposed demise.
my credit and equity line are fine. error fixed.
chexsystems was never contacted by any bank on me.
suntrust gig was clearly a joke.
it is the internet. Even though everything I have typed today and last night has been 100% true as I have experienced it, I do not expect you nor anyone to believe me at all. As you know, we should all use the information that people post here merely as guidelines and then follow up with our own research to confirm or deny how that same thing might work in our own worlds. If we do not, who do we have to blame but ourselves?
strangely, though, you DO believe me (and then post about it over and over again) if I say I experienced something negative. Why is that?
Yes sir, your final comment was rude. You do not need to take advice from me at all but it has been clear for a while now that you have been trying to discredit me in here at all costs. Mods have been notified as to all of this type of activity and more. Now I have no time for you so fire away all you want and I will go back to ignore mode. Besides, it's time to get out for the day. Kinda sunny here. Enjoy yours!
my credit and equity line are fine. error fixed.
chexsystems was never contacted by any bank on me.
suntrust gig was clearly a joke.
it is the internet. Even though everything I have typed today and last night has been 100% true as I have experienced it, I do not expect you nor anyone to believe me at all. As you know, we should all use the information that people post here merely as guidelines and then follow up with our own research to confirm or deny how that same thing might work in our own worlds. If we do not, who do we have to blame but ourselves?
strangely, though, you DO believe me (and then post about it over and over again) if I say I experienced something negative. Why is that?
Yes sir, your final comment was rude. You do not need to take advice from me at all but it has been clear for a while now that you have been trying to discredit me in here at all costs. Mods have been notified as to all of this type of activity and more. Now I have no time for you so fire away all you want and I will go back to ignore mode. Besides, it's time to get out for the day. Kinda sunny here. Enjoy yours!
- Danversbank
- Suntrust
Seems to me you're the one who has claimed you've had multiple bank accounts closed. I'm just saying that you giving advice to people not to be honest to banks hasn't exactly worked in your favor, so why would you suggest to others not to be honest?
Mar 20, 2011, 8:11 am
Suspended
Join Date: May 2010
Posts: 2,998
Hypothetically speaking of course
Mar 20, 2011, 8:12 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052
Well, there's been a delay in heading outside but now I can go... In the meantime, here's another post:
For those not familiar with this stuff...
salemfive and danvers bank are two small regional banks that do not like large money order and coin transactions. They do not like money order deposits because those pose a risk.
If one deposits say, $5k in money orders and they clear tomorrow and then one takes the cash out, but one does this same thing all the time, a bank has to kinda foot the bill of said deposit til it fully clears with the other bank. A money order, by nature, takes longer, and due to the fact that money orders have been associated with some fraudulent activity out there, they pose a concern to begin with.
So when they make your funds available, they actually take a calculated risk in so doing--if, in fact, your funds came from a money order deposit. Bigger banks can do this with greater ease. Smaller ones cannot. I learned this by doing.
While there's no rule or law against it, it turns out the practice of constantly depositing and then taking out cash from money orders is not loved by such smaller banks. That, plus the use of the smaller bank for coins (even where there are other regular banking transactions being done) make them raise an eyebrow. While they would find nothing wrong with most of us, they still can be wary. AND it's more WORK for them to deal with or concern themselves with.
That being said, all banks can and may close any account at any time for reasons they may disclose in 3-point type in the customer agreement that we all get but rarely read.
Those two banks wished to do this. In the case of danvers bank, they gave me the option of closing the acct myself and I did it at the request of a senior level employee who told me, in short: Well this acct is flagged but we have no issue with you. So please close it and you may open another one in a month or so but please dont do the money order and coin thing here. We chatted a while about the weather and I did what she asked. I have not been back.
NOTE: all other bigger banks like bofa, citi, citizens, td, etc etc etc have no isssue with me/it
I explained all that pages ago. But Mr Astro wants me to type more and he may have problems with the search function in this thread.
Salem Five is a small regional bank as well. the told me a similar thing about money orders and coins but were not as friendly about. they just shut it down and sent me a check. Again, a letter accompanying this mentioned that there were no negative reportings against me, but they did not want my bitness there anymore. So be it.
if a bank doesnt want my business, this should not make me a bad human or a bad FT poster lol. If anything, you all know of 2 banks in MA to avoid. You are welcome to the free information on my behalf.
I never had a prob with suntrust. I did the delta thing and it worked out just fine. I still have a personal acct there too but I closed my business one by writing a letter asking to close it and they sent me a check.
keep copy/pasting. I do not care. You are posting incomplete information and now people may not believe what YOU say, Mr A.
For those not familiar with this stuff...
salemfive and danvers bank are two small regional banks that do not like large money order and coin transactions. They do not like money order deposits because those pose a risk.
If one deposits say, $5k in money orders and they clear tomorrow and then one takes the cash out, but one does this same thing all the time, a bank has to kinda foot the bill of said deposit til it fully clears with the other bank. A money order, by nature, takes longer, and due to the fact that money orders have been associated with some fraudulent activity out there, they pose a concern to begin with.
So when they make your funds available, they actually take a calculated risk in so doing--if, in fact, your funds came from a money order deposit. Bigger banks can do this with greater ease. Smaller ones cannot. I learned this by doing.
While there's no rule or law against it, it turns out the practice of constantly depositing and then taking out cash from money orders is not loved by such smaller banks. That, plus the use of the smaller bank for coins (even where there are other regular banking transactions being done) make them raise an eyebrow. While they would find nothing wrong with most of us, they still can be wary. AND it's more WORK for them to deal with or concern themselves with.
That being said, all banks can and may close any account at any time for reasons they may disclose in 3-point type in the customer agreement that we all get but rarely read.
Those two banks wished to do this. In the case of danvers bank, they gave me the option of closing the acct myself and I did it at the request of a senior level employee who told me, in short: Well this acct is flagged but we have no issue with you. So please close it and you may open another one in a month or so but please dont do the money order and coin thing here. We chatted a while about the weather and I did what she asked. I have not been back.
NOTE: all other bigger banks like bofa, citi, citizens, td, etc etc etc have no isssue with me/it
I explained all that pages ago. But Mr Astro wants me to type more and he may have problems with the search function in this thread.
Salem Five is a small regional bank as well. the told me a similar thing about money orders and coins but were not as friendly about. they just shut it down and sent me a check. Again, a letter accompanying this mentioned that there were no negative reportings against me, but they did not want my bitness there anymore. So be it.
if a bank doesnt want my business, this should not make me a bad human or a bad FT poster lol. If anything, you all know of 2 banks in MA to avoid. You are welcome to the free information on my behalf.
I never had a prob with suntrust. I did the delta thing and it worked out just fine. I still have a personal acct there too but I closed my business one by writing a letter asking to close it and they sent me a check.
keep copy/pasting. I do not care. You are posting incomplete information and now people may not believe what YOU say, Mr A.
Mar 20, 2011, 8:13 am
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,052