Author Topic: Chase/Amex question  (Read 638 times)

Offline atiredmench

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Chase/Amex question
« on: November 23, 2018, 10:25:20 AM »
what would be the best way to get paid back by someone who used my card? I dont want to run the risk of the account getting flagged and i also dont want to deposit more then 10k for that to get flagged.

Would it help if i made 8k deposits daily until i get paid back or will that get flagged as well?

Any help is appreciated.

Offline Shmulyg

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Re: Chase/Amex question
« Reply #1 on: November 25, 2018, 12:45:32 PM »
Structuring is WAY worse than getting 10k reported. They'll shut you down, in the best case - freeze your assets, in the worst 

Offline Htx

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Re: Chase/Amex question
« Reply #2 on: November 25, 2018, 09:09:56 PM »
Have them send you a wire transfer. How much did you “let” someone use your card for?

Offline LoLo

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Re: Chase/Amex question
« Reply #3 on: November 26, 2018, 12:07:47 AM »
Depositing the check is actually a good thing for you, you don't want the IRS to see you spending big money on your credit cards with no way to prove it was for someone else.

Online ludmila

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Re: Chase/Amex question
« Reply #4 on: November 26, 2018, 01:19:34 AM »
Structuring is WAY worse than getting 10k reported. They'll shut you down, in the best case - freeze your assets, in the worst
+1 Stay away from structuring. IRS comes down very hard on this.
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Online ludmila

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Re: Chase/Amex question
« Reply #5 on: November 26, 2018, 01:23:15 AM »
Have them send you a wire transfer. How much did you “let” someone use your card for?
Thinking about it, wire transfer is the best option.
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Offline yosefsv

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Re: Chase/Amex question
« Reply #6 on: November 27, 2018, 03:13:14 PM »
what would be the best way to get paid back by someone who used my card? I dont want to run the risk of the account getting flagged and i also dont want to deposit more then 10k for that to get flagged.

Would it help if i made 8k deposits daily until i get paid back or will that get flagged as well?

Any help is appreciated.
IME Amex did not flag an account for paying with a TPC.
If it benefits even just one fellow DDFer, its worth posting it.

Offline S209

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Re: Chase/Amex question
« Reply #7 on: November 27, 2018, 03:51:39 PM »
+1 Stay away from structuring. IRS comes down very hard on this.
More than that- Structuring is actually illegal, while depositing 10K+ is obviously not (although they may look at what else you’re doing)
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Offline incendia

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Re: Chase/Amex question
« Reply #8 on: November 27, 2018, 08:50:06 PM »
More than that- Structuring is actually illegal, while depositing 10K+ is obviously not (although they may look at what else you’re doing)

Not so obvious, many people think that depositing over 10k cash is illegal. Which leads them to structure. 

Structuring is only for cash. You can legally deposit checks in any amount. Whether one big check or several small checks is better from a Chase POV, that I don't know

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Re: Chase/Amex question
« Reply #9 on: November 27, 2018, 09:13:47 PM »
Not so obvious, many people think that depositing over 10k cash is illegal. Which leads them to structure. 

Structuring is only for cash. You can legally deposit checks in any amount. Whether one big check or several small checks is better from a Chase POV, that I don't know
+1 For cash only, you can deposit as many checks as you have.
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Offline shulem92

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Re: Chase/Amex question
« Reply #10 on: November 27, 2018, 10:14:40 PM »
Not so obvious, many people think that depositing over 10k cash is illegal. Which leads them to structure. 

Structuring is only for cash. You can legally deposit checks in any amount. Whether one big check or several small checks is better from a Chase POV, that I don't know
i know someone that deposited 2 checks (they were numbered one after the next), one for 8k and the next day one for 7k. the next day they were promptly shut down by chase

Offline LoLo

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Re: Chase/Amex question
« Reply #11 on: November 27, 2018, 10:58:45 PM »
I find it hard to believe this was the reason, might've been the final straw.

Offline shulem92

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Re: Chase/Amex question
« Reply #12 on: November 27, 2018, 11:12:44 PM »
I find it hard to believe this was the reason, might've been the final straw.
there was absolutely no shtick in that account what so ever.
chase doesnt like risk. and when you do something that has a whiff of illegality they would rather shut you down then get whacked by the irs further down the line for something you did which is truly illegal

Offline mmgfarb

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Re: Chase/Amex question
« Reply #13 on: November 28, 2018, 03:09:56 AM »
I find it hard to believe this was the reason, might've been the final straw.
Chase is among the strictest when it comes to things like this, they got burned big time once and don't want it to happen again.
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Offline a good yeshiva bachur

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Re: Chase/Amex question
« Reply #14 on: November 28, 2018, 08:26:24 AM »
they got burned big time once and don't want it to happen again.
?