Author Topic: CVS to impose $2,000/day limit as of 10/27/14 (Read 31083 times)

Marco Polo · « **Reply #40 on:** October 20, 2014, 10:30:58 PM »

Quote from: yitzf on October 20, 2014, 09:49:49 PM

Just got cut off at 2k. Could it be they ate starting early?
Haven't bought any GC's at CVS in a week.

Manually, or the computer?

yitzf · « **Reply #41 on:** October 20, 2014, 10:44:49 PM »

Quote from: Marco Polo on October 20, 2014, 10:30:58 PM

Manually, or the computer?

System said daily limit reached after 2k.
They didn't have to scan my license until 1k.

rng · « **Reply #42 on:** October 20, 2014, 10:53:39 PM »

I have been getting the 2k limit for ov's at cvs since the vr's went dead, nothing new. am i missing something here?

yitzf · « **Reply #43 on:** October 20, 2014, 11:02:04 PM »

Quote from: rng on October 20, 2014, 10:53:39 PM

I have been getting the 2k limit for ov's at cvs since the vr's went dead, nothing new. am i missing something here?

A POS limit or manual?

ChaimMoskowitz · « **Reply #44 on:** October 21, 2014, 05:55:08 AM »

Quote from: AJK on October 20, 2014, 05:13:35 PM

Structuring is a term of art which is definitionally illegal.

The memo says structuring may be illegal. Are you saying structuring is illegal? Is the memo accurate or not?

Redbull3 · « **Reply #45 on:** October 21, 2014, 08:55:18 AM »

Quote from: rng on October 20, 2014, 10:53:39 PM

I have been getting the 2k limit for ov's at cvs since the vr's went dead, nothing new. am i missing something here?

It's always been 5k.
Thanks for the heads up Yitz.

ChaimMoskowitz · « **Reply #46 on:** October 21, 2014, 09:08:36 AM »

Quote from: yitzf on October 20, 2014, 11:02:04 PM

A POS limit or manual?

Many are reporting POS limits as of yesterday.

Marco Polo · « **Reply #47 on:** October 21, 2014, 09:10:34 AM »

Quote from: ChaimMoskowitz on October 21, 2014, 09:08:36 AM

Many are reporting POS limits as of yesterday.

Could be i happened into that as well. I "hit" my limit after buying $1,500 last night and only allowing $500 this morning...

ChaimMoskowitz · « **Reply #48 on:** October 21, 2014, 09:20:40 AM »

Quote from: Marco Polo on October 21, 2014, 09:10:34 AM

Could be i happened into that as well. I "hit" my limit after buying $1,500 last night and only allowing $500 this morning...

Looks like it is rolling out early.

yoyo6713 · « **Reply #49 on:** October 21, 2014, 10:13:59 AM »

I guess east coast folks always take the initial blow :-(

TimT · « **Reply #50 on:** October 21, 2014, 10:14:29 AM »

Quote from: yoyo6713 on October 21, 2014, 10:13:59 AM

I guess east coast folks always take the initial blow :-(

You could say that again.

AJK · « **Reply #51 on:** October 21, 2014, 11:23:21 AM »

Quote from: ChaimMoskowitz on October 21, 2014, 05:55:08 AM

The memo says structuring may be illegal. Are you saying structuring is illegal? Is the memo accurate or not?

"Structuring" is illegal. Period.

etech0 · « **Reply #52 on:** October 21, 2014, 11:26:44 AM »

Quote from: AJK on October 21, 2014, 11:23:21 AM

"Structuring" is illegal. Period.

According to that, what is the definition of structuring?

AJK · « **Reply #53 on:** October 21, 2014, 11:28:56 AM »

https://www.ffiec.gov/bsa_aml_infobase/pages_manual/regulations/31CFR103_11_gg.pdf

ckmk47 · « **Reply #54 on:** October 21, 2014, 11:41:33 AM »

A simpler definition an examples and history.http://www.washingtonpost.com/news/the-watch/wp/2014/03/24/the-federal-structuring-laws-are-smurfin-ridiculous/

churnbabychurn · « **Reply #55 on:** October 21, 2014, 11:48:40 AM »

Been discussed extensively on the forums.
The question was whether grocery stores and pharmacies are included in the bank secrecy act or not. If yes, there would be a question of structuring in avoiding their reporting etc
I argued and sourced that they are indeed covered by the act.

If someone can link it...

ChaimMoskowitz · « **Reply #56 on:** October 21, 2014, 02:54:06 PM »

Quote from: churnbabychurn on October 21, 2014, 11:48:40 AM

Been discussed extensively on the forums.
The question was whether grocery stores and pharmacies are included in the bank secrecy act or not. If yes, there would be a question of structuring in avoiding their reporting etc
I argued and sourced that they are indeed covered by the act.

If someone can link it...

Many have also argued it depends how the Gc's are being purchased (cash, debit or credit).

Marco Polo · « **Reply #57 on:** October 22, 2014, 09:31:03 AM »

I got a "tender not accepted" this morning when trying to buy VGC...

ChaimMoskowitz · « **Reply #58 on:** October 22, 2014, 09:34:24 AM »

Tried to ring 5th OV card and registered says you exceeded the 5k daily limit. CVS is using that new math. I guess that is to be expected based on the misinformed memo they sent out.

Redbull3 · « **Reply #59 on:** October 22, 2014, 09:46:52 AM »

Quote from: Marco Polo on October 22, 2014, 09:31:03 AM

I got a "tender not accepted" this morning when trying to buy VGC...

That's a familiar message IIRC - was that on a relatively new chase card? Maybe a fraud thing?