Author Topic: Depositing MO at banks  (Read 1736 times)

Offline Aerial Dag

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jun 2013
  • Posts: 1046
  • Total likes: 78
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: MS Desert
Depositing MO at banks
« on: August 02, 2017, 02:45:37 PM »
I found this thread on a banking forum. Thought you guys would find it interesting


https://www.bankersonline.com/forum/ubbthreads.php/topics/2139450/money-orders-and-gift-cards

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 8355
  • Total likes: 1110
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Depositing MO at banks
« Reply #1 on: August 02, 2017, 03:05:15 PM »
That guy is a moron for using the same bank for both ends.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 10465
  • Total likes: 3823
  • DansDeals.com Hat Tips 43
    • View Profile
Re: Depositing MO at banks
« Reply #2 on: August 02, 2017, 03:55:09 PM »
Some DDFers should join that forum and defend the MSers.

Offline Mountain Man

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Dec 2013
  • Posts: 892
  • Total likes: 34
  • DansDeals.com Hat Tips 10
    • View Profile
  • Location: Colorado
Re: Depositing MO at banks
« Reply #3 on: August 02, 2017, 04:14:51 PM »
"multiple deposits up to $15k per day - structuring".
iinm structuring is up to $10k per day. $15k should require an IRS form no?

I am kind of curious about the increased scrutiny of bank examiners. I know a handful of bank examiners at the Fed who are "lite" players in this game. I think this is just fear of the unknown and the banker (like my compliance department) would prefer to blacklist any activity that would require them to do an iota of research.
Quote from: JTZ link=topic=10531.msg1695873
If you never had to eat crow then you lived one boring life.

Offline as2

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Mar 2013
  • Posts: 5671
  • Total likes: 917
  • DansDeals.com Hat Tips 24
  • Gender: Male
    • View Profile
Re: Depositing MO at banks
« Reply #4 on: August 02, 2017, 04:22:10 PM »
I believe it would be structuring, due to the fact that it is over 10k and done in smaller amounts via the ATM to avoid filling out any forms. They said 15k, because that was the number the OP used.
Memories last forever, make them while you can.

Offline as2

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Mar 2013
  • Posts: 5671
  • Total likes: 917
  • DansDeals.com Hat Tips 24
  • Gender: Male
    • View Profile
Re: Depositing MO at banks
« Reply #5 on: August 02, 2017, 04:24:08 PM »
Bottom line is, PGFHGS. Don't go overboard, and if you do, make sure to do your deposits over 10k at a time and fill out the for. For a short while I was depositing large amounts of cash into my account, and I made sure all deposits were well spread out if they were less than 10k.
Memories last forever, make them while you can.

Offline Aerial Dag

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jun 2013
  • Posts: 1046
  • Total likes: 78
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: MS Desert
Re: Depositing MO at banks
« Reply #6 on: August 02, 2017, 04:32:33 PM »
IMO the most interesting part of the thread was what I had suspected from these banks which is, even if you ARE doing something legit, it looks suspicious and it's better to be safe than sorry.

Offline mochjas

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Oct 2015
  • Posts: 9699
  • Total likes: 1069
  • DansDeals.com Hat Tips 123
    • View Profile
  • Programs: Hyatt Globalist, Hilton Diamond, Marriott Titanium Elite, AA EX PLAT, Jetblue Mosaic, Qatar Gold, United Silver
Re: Depositing MO at banks
« Reply #7 on: August 02, 2017, 04:34:17 PM »
How do they know he is buying gift cards?

Offline Mountain Man

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Dec 2013
  • Posts: 892
  • Total likes: 34
  • DansDeals.com Hat Tips 10
    • View Profile
  • Location: Colorado
Re: Depositing MO at banks
« Reply #8 on: August 02, 2017, 04:36:40 PM »
How do they know he is buying gift cards?
I imagine she told them.
Quote from: JTZ link=topic=10531.msg1695873
If you never had to eat crow then you lived one boring life.

Offline moe8555

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2014
  • Posts: 1303
  • Total likes: 155
  • DansDeals.com Hat Tips 11
  • Gender: Male
    • View Profile
  • Location: Israel
  • Programs: AA Platinum Pro, Virgin Atlantic Silver, IHG Diamond Ambassador, Hilton Diamond, Marriott Gold, Sixt Platinum
Re: Depositing MO at banks
« Reply #9 on: August 02, 2017, 07:30:06 PM »
As unknown as MS is here in Israel, can confirm that these activities can trigger false alarms for criminal activity here too.  My Israeli CC issuer's fraud analysis team called me last month wanting to know what on earth I was doing.  Managed to calm them down.

Offline 12HRS

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2013
  • Posts: 5108
  • Total likes: 575
  • DansDeals.com Hat Tips 6
    • View Profile
Re: Depositing MO at banks
« Reply #10 on: August 02, 2017, 11:53:27 PM »
Bottom line is, PGFHGS. Don't go overboard, and if you do, make sure to do your deposits over 10k at a time and fill out the for.

I am not quoting it, but seriously there are somethings you should never admit to in writing...