Credit Card Balance Paid Off with Balance Transfer Offer
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Balance Paid Off with Balance Transfer Offer
Posted: Tue Aug 22, 2006 2:03 pm
Quote:
"Evilbunny"
It's part of the Bank Secrecy Act, Also the Patriot Act touches on it as well. Banks are REQUIRED to implement security measures to prevent money laundering. Expecially if the credit balance is greater than $10,000 dollars.
Yes, credit balances happen frequently in the case of misposted balance transfers, but banks are required to treat them all equally.
I have seen my share of blatently obvious money laundering. it does happen. Crooks use it as a way of moving funds from one place to the other.
So dont hate the bank. they get in BIG trouble if they arent diligent. More info on the BSA and Anti-money laundering can be found here :
occ.treas.gov/handbook/bsa.pdf#search=%22anti-money%20laundering%22
Its kind of an interesting read. Well, i think it is, but then again. Im a bank nerd
THE MONEY CAME FROM YOUR OTHER CREDIT CARD ACCOUNT (BT)
or
YOUR CHECKING ACCOUNT
ONLY A FOOL WOULD THINK THAT IS MONEY LAUNDERING
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 2:08 pm
"IF" BT's ARE MONEY LAUNDERING SOMETHING IS WRONG WITH THE BANKING SYSTEM
"IF" PAYING OFF A CREDIT CARDS FROM YOUR CHECKING ACCOUNT IS MONEY LAUNDERING SOMETHING IS WRONG WITH THE BANKING SYSTEM
or
YOUR A TERRORIST I GUESS
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 2:51 pm
perhaps it is just a mistake with the BT or payment. but if you were required to be cautious about situations like that. wouldnt you rather be safe then slapped with a $500,000 fine?
say bob runs drugs. he gets alot of money from said drugs, but he needs a way to move it from his offshore account into america where he can use it to by more said drugs. he sends in a large payment to a credit card. thus creating a credit balance. he then calls the company and says "my bad, that payment was supposed to go to a DIFFERENT credit card" The company then sends him a check to his US address. which he then deposits into a different account.
THIS IS MONEY LAUNDERING.
(and drugs are bad, mmmmmkay?)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:06 pm
Quote:
"Evilbunny"
perhaps it is just a mistake with the BT or payment. but if you were required to be cautious about situations like that. wouldnt you rather be safe then slapped with a $500,000 fine?
say bob runs drugs. he gets alot of money from said drugs, but he needs a way to move it from his offshore account into america where he can use it to by more said drugs. he sends in a large payment to a credit card. thus creating a credit balance. he then calls the company and says "my bad, that payment was supposed to go to a DIFFERENT credit card" The company then sends him a check to his US address. which he then deposits into a different account.
THIS IS MONEY LAUNDERING.
(and drugs are bad, mmmmmkay?)
SO NOW I'M A DRUG RUNNER FOR DOING BT's
AND PAYING OFF MY CREDIT CARDS???
OK..............
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 3:17 pm
Why does it always have to be you personally?
dont you realize that a bank doesnt care about you specifically? They dont care about your house, what kind of car you drive, that your a member of a credit card forum, that you enjoy typing in all caps and underlining and highlighting random words. BANKS HAVE TO TREAT EVERYONE THE SAME. (see, i can use caps too) so maybe you arent Bob the drug runner. but a bank has to treat your credit balance the same as everyone elses.
im not picking a fight, i was simply trying to give information on why banks dont like large credit balances, thats all.
lighten up
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:45 pm
Quote:
"Evilbunny"
Why does it always have to be you personally?
dont you realize that a bank doesnt care about you specifically? They dont care about your house, what kind of car you drive, that your a member of a credit card forum, that you enjoy typing in all caps and underlining and highlighting random words. BANKS HAVE TO TREAT EVERYONE THE SAME. (see, i can use caps too) so maybe you arent Bob the drug runner. but a bank has to treat your credit balance the same as everyone elses.
im not picking a fight, i was simply trying to give information on why banks dont like large credit balances, thats all.
lighten up
You have a PROBLEM with the way I type...COMPLAINT DEPARTMENT IS UP THE STREET
YOU'RE INFERRING THAT THE BANK WILL TREAT YOU AS IF YOU WERE
A DRUG RUNNER or MONEY LAUNDERER or A TERRORIST
And they can get away with it and they are PROUD to do it
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:49 pm
Another CAPSLOCKSPHOBIC
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 4:47 pm
ugh, i give up
you win
down with the big evil banks that are just out to inconvenience you.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Quote:
"Evilbunny"
ugh, i give up
you win
down with the big evil banks that are just out to inconvenience you.
I USE BANKS for my benefit
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: kellyashleymandy
Posted: Tue Aug 22, 2006 10:07 pm
How Funny! Evil banks out to get mouse!
_________________
work for cc co. pls ask questions
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: kellyashleymandy
Posted: Tue Aug 22, 2006 10:11 pm
Think about it MOUSE
if you had a business... lets say....The Big Silly Mouse Natinal Bank.
and every year you lost 500 million dollars because of dishonest and criminal people use your legit business to benefit them and their illegal doing ... wouldnt you like to know and investigate?
Thanks why they do it ... PLUS the Govt is requiring banks to report it or face a huge fines.
_________________
work for cc co. pls ask questions
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Aug 23, 2006 12:05 am
Quote:
"kellyashleymandy"
Think about it MOUSE
if you had a business... lets say....The Big Silly Mouse Natinal Bank.
and every year you lost 500 million dollars because of dishonest and criminal people use your legit business to benefit them and their illegal doing ... wouldnt you like to know and investigate?
Thanks why they do it ... PLUS the Govt is requiring banks to report it or face a huge fines.
Just ignore what I say
I LIE ABOUT EVERYTHING
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Bikshu
Posted: Wed Aug 23, 2006 1:52 am
Don't let the Mouse also known as George try to get to you. He thinks he's a big shot because he's posted over 40,000 posts on here and other CC forums in the past two or three years. I'm not exaggerating... that's like 50 posts per day or two every single hour for a few years straight. The man lives his ENTIRE LIVE in online credit card forums and takes great personal offence when a "newbie" comes along and challenges his "real life experience." So much so that the guy goes to other forums like creditboards.com to post nasty posts about Kelleyashleymandy and myself and then ask for emotional support from his online buddies. If you're smart you'll all allow him to revel in his online glory...
By the way George, once again they are right and you are wrong. But hey, don't take my word for it man... I just work for a bank and everyone knows that you know more than bankers. Oh, and just FYI my friend, BT CSRs from most major banks are not on commission. Its not worth a huge fine having them break a regulation here or there just to get a sale. Now if you'll excuse me, I have to book it to go do something you obviously haven't done in a long time... be with a real live woman (and not online even... imagine that George). I'll leave you to cry to Shawnee...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Aug 23, 2006 2:38 am
SOME PEOPLE JUST HAVE NO CLUE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 6:35 am
And, Bikshu ... reply to that one and you'll demonstrate that you REALLY have no clue ...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 10:35 am
kindergarten anyone?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 10:50 am
Whatever, Hollywood, I was just getting my popcorn out!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 1:40 pm
i take some butter on mine......
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Balance Paid Off with Balance Transfer Offer
Posted: Tue Aug 22, 2006 2:03 pm
Quote:
"Evilbunny"
It's part of the Bank Secrecy Act, Also the Patriot Act touches on it as well. Banks are REQUIRED to implement security measures to prevent money laundering. Expecially if the credit balance is greater than $10,000 dollars.
Yes, credit balances happen frequently in the case of misposted balance transfers, but banks are required to treat them all equally.
I have seen my share of blatently obvious money laundering. it does happen. Crooks use it as a way of moving funds from one place to the other.
So dont hate the bank. they get in BIG trouble if they arent diligent. More info on the BSA and Anti-money laundering can be found here :
occ.treas.gov/handbook/bsa.pdf#search=%22anti-money%20laundering%22
Its kind of an interesting read. Well, i think it is, but then again. Im a bank nerd
THE MONEY CAME FROM YOUR OTHER CREDIT CARD ACCOUNT (BT)
or
YOUR CHECKING ACCOUNT
ONLY A FOOL WOULD THINK THAT IS MONEY LAUNDERING
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 2:08 pm
"IF" BT's ARE MONEY LAUNDERING SOMETHING IS WRONG WITH THE BANKING SYSTEM
"IF" PAYING OFF A CREDIT CARDS FROM YOUR CHECKING ACCOUNT IS MONEY LAUNDERING SOMETHING IS WRONG WITH THE BANKING SYSTEM
or
YOUR A TERRORIST I GUESS
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 2:51 pm
perhaps it is just a mistake with the BT or payment. but if you were required to be cautious about situations like that. wouldnt you rather be safe then slapped with a $500,000 fine?
say bob runs drugs. he gets alot of money from said drugs, but he needs a way to move it from his offshore account into america where he can use it to by more said drugs. he sends in a large payment to a credit card. thus creating a credit balance. he then calls the company and says "my bad, that payment was supposed to go to a DIFFERENT credit card" The company then sends him a check to his US address. which he then deposits into a different account.
THIS IS MONEY LAUNDERING.
(and drugs are bad, mmmmmkay?)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:06 pm
Quote:
"Evilbunny"
perhaps it is just a mistake with the BT or payment. but if you were required to be cautious about situations like that. wouldnt you rather be safe then slapped with a $500,000 fine?
say bob runs drugs. he gets alot of money from said drugs, but he needs a way to move it from his offshore account into america where he can use it to by more said drugs. he sends in a large payment to a credit card. thus creating a credit balance. he then calls the company and says "my bad, that payment was supposed to go to a DIFFERENT credit card" The company then sends him a check to his US address. which he then deposits into a different account.
THIS IS MONEY LAUNDERING.
(and drugs are bad, mmmmmkay?)
SO NOW I'M A DRUG RUNNER FOR DOING BT's
AND PAYING OFF MY CREDIT CARDS???
OK..............
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 3:17 pm
Why does it always have to be you personally?
dont you realize that a bank doesnt care about you specifically? They dont care about your house, what kind of car you drive, that your a member of a credit card forum, that you enjoy typing in all caps and underlining and highlighting random words. BANKS HAVE TO TREAT EVERYONE THE SAME. (see, i can use caps too) so maybe you arent Bob the drug runner. but a bank has to treat your credit balance the same as everyone elses.
im not picking a fight, i was simply trying to give information on why banks dont like large credit balances, thats all.
lighten up
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:45 pm
Quote:
"Evilbunny"
Why does it always have to be you personally?
dont you realize that a bank doesnt care about you specifically? They dont care about your house, what kind of car you drive, that your a member of a credit card forum, that you enjoy typing in all caps and underlining and highlighting random words. BANKS HAVE TO TREAT EVERYONE THE SAME. (see, i can use caps too) so maybe you arent Bob the drug runner. but a bank has to treat your credit balance the same as everyone elses.
im not picking a fight, i was simply trying to give information on why banks dont like large credit balances, thats all.
lighten up
You have a PROBLEM with the way I type...COMPLAINT DEPARTMENT IS UP THE STREET
YOU'RE INFERRING THAT THE BANK WILL TREAT YOU AS IF YOU WERE
A DRUG RUNNER or MONEY LAUNDERER or A TERRORIST
And they can get away with it and they are PROUD to do it
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Aug 22, 2006 3:49 pm
Another CAPSLOCKSPHOBIC
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Evilbunny
Posted: Tue Aug 22, 2006 4:47 pm
ugh, i give up
you win
down with the big evil banks that are just out to inconvenience you.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Quote:
"Evilbunny"
ugh, i give up
you win
down with the big evil banks that are just out to inconvenience you.
I USE BANKS for my benefit
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: kellyashleymandy
Posted: Tue Aug 22, 2006 10:07 pm
How Funny! Evil banks out to get mouse!
_________________
work for cc co. pls ask questions
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: kellyashleymandy
Posted: Tue Aug 22, 2006 10:11 pm
Think about it MOUSE
if you had a business... lets say....The Big Silly Mouse Natinal Bank.
and every year you lost 500 million dollars because of dishonest and criminal people use your legit business to benefit them and their illegal doing ... wouldnt you like to know and investigate?
Thanks why they do it ... PLUS the Govt is requiring banks to report it or face a huge fines.
_________________
work for cc co. pls ask questions
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Aug 23, 2006 12:05 am
Quote:
"kellyashleymandy"
Think about it MOUSE
if you had a business... lets say....The Big Silly Mouse Natinal Bank.
and every year you lost 500 million dollars because of dishonest and criminal people use your legit business to benefit them and their illegal doing ... wouldnt you like to know and investigate?
Thanks why they do it ... PLUS the Govt is requiring banks to report it or face a huge fines.
Just ignore what I say
I LIE ABOUT EVERYTHING
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Bikshu
Posted: Wed Aug 23, 2006 1:52 am
Don't let the Mouse also known as George try to get to you. He thinks he's a big shot because he's posted over 40,000 posts on here and other CC forums in the past two or three years. I'm not exaggerating... that's like 50 posts per day or two every single hour for a few years straight. The man lives his ENTIRE LIVE in online credit card forums and takes great personal offence when a "newbie" comes along and challenges his "real life experience." So much so that the guy goes to other forums like creditboards.com to post nasty posts about Kelleyashleymandy and myself and then ask for emotional support from his online buddies. If you're smart you'll all allow him to revel in his online glory...
By the way George, once again they are right and you are wrong. But hey, don't take my word for it man... I just work for a bank and everyone knows that you know more than bankers. Oh, and just FYI my friend, BT CSRs from most major banks are not on commission. Its not worth a huge fine having them break a regulation here or there just to get a sale. Now if you'll excuse me, I have to book it to go do something you obviously haven't done in a long time... be with a real live woman (and not online even... imagine that George). I'll leave you to cry to Shawnee...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Aug 23, 2006 2:38 am
SOME PEOPLE JUST HAVE NO CLUE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 6:35 am
And, Bikshu ... reply to that one and you'll demonstrate that you REALLY have no clue ...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 10:35 am
kindergarten anyone?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 10:50 am
Whatever, Hollywood, I was just getting my popcorn out!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Wed Aug 23, 2006 1:40 pm
i take some butter on mine......
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:08 PM
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