TalmerBank closed A/C after 2 MO deposits
Apr 4, 2016, 10:31 am
#1
Original Poster
Join Date: Apr 2016
Posts: 5
TalmerBank closed A/C after 2 MO deposits
Hello
Just wanted to report my banking experience with Talmer Bank and Trust. I opened a personal checking account at a local branch of Talmer Bank in March, and made two USPS money order deposits by mobile app (I sent message to ask if mobile app accepts MO, the answer was yes. ) and received a payroll ACH last week. Last Saturday, I was unable to log in to online banking. I called the customer service today, and I was told that my account was going to be closed due to the money orders I deposited. The specialist asked for the source of money order, and I told him that was purchased by my spouse's own money ,and I could show the receipt.
Surprisingly, he told me that deposit money order purchased by gift cards was money laundrying activity, and they would not bank with me.
I was frustrate about the account closure, but I was particularly angry about saying money laundrying. Gift cards were purchased by our own credit cards, paid by our own money, and I also kept all of those receipts for records.
Isn't it very unprofessional for the Talmer Bank specialist to say that? I will definitely say goodbye to Talmer Bank and Trust, and I would also ask for your opinion that if such activity should be treated as money laundrying.
Just wanted to report my banking experience with Talmer Bank and Trust. I opened a personal checking account at a local branch of Talmer Bank in March, and made two USPS money order deposits by mobile app (I sent message to ask if mobile app accepts MO, the answer was yes. ) and received a payroll ACH last week. Last Saturday, I was unable to log in to online banking. I called the customer service today, and I was told that my account was going to be closed due to the money orders I deposited. The specialist asked for the source of money order, and I told him that was purchased by my spouse's own money ,and I could show the receipt.
Surprisingly, he told me that deposit money order purchased by gift cards was money laundrying activity, and they would not bank with me.
I was frustrate about the account closure, but I was particularly angry about saying money laundrying. Gift cards were purchased by our own credit cards, paid by our own money, and I also kept all of those receipts for records.
Isn't it very unprofessional for the Talmer Bank specialist to say that? I will definitely say goodbye to Talmer Bank and Trust, and I would also ask for your opinion that if such activity should be treated as money laundrying.
Last edited by alen87; Apr 4, 2016 at 11:19 am
Apr 4, 2016, 11:07 am
#2
Join Date: Mar 2015
Posts: 283
Hello
Just wanted to report my banking experience with Talmer Bank and Trust. I opened a personal checking account at a local branch of Talmer Bank in March, and made two USPS money order deposits by mobile app (I sent message to ask if mobile app accepts MO, the answer was yes. ) and received a payroll ACH last week. Last Saturday, I was unable to log in the online banking. I called the customer service today, and I was told that my account was going to be closed due to the money orders I deposited. The specialist asked for the source of money order, and I told him that was purchased by my spouse's own money ,and I could show the receipt.
Surprisingly, he told me that deposit money order purchased by gift cards was money laundrying activity, and they would not bank with me.
I was frustrate about the account closure, but I was particularly angry about saying money laundrying. Gift cards were purchased by our own credit cards, paid by our own money, and I also kept all of those receipts for records.
Isn't it very unprofessional for the Talmer Bank specialist to say that? I will definitely say goodbye to Talmer Bank and Trust, and I would also ask for your opinion that if such activity should be treated as money laundrying.
Just wanted to report my banking experience with Talmer Bank and Trust. I opened a personal checking account at a local branch of Talmer Bank in March, and made two USPS money order deposits by mobile app (I sent message to ask if mobile app accepts MO, the answer was yes. ) and received a payroll ACH last week. Last Saturday, I was unable to log in the online banking. I called the customer service today, and I was told that my account was going to be closed due to the money orders I deposited. The specialist asked for the source of money order, and I told him that was purchased by my spouse's own money ,and I could show the receipt.
Surprisingly, he told me that deposit money order purchased by gift cards was money laundrying activity, and they would not bank with me.
I was frustrate about the account closure, but I was particularly angry about saying money laundrying. Gift cards were purchased by our own credit cards, paid by our own money, and I also kept all of those receipts for records.
Isn't it very unprofessional for the Talmer Bank specialist to say that? I will definitely say goodbye to Talmer Bank and Trust, and I would also ask for your opinion that if such activity should be treated as money laundrying.
Apr 4, 2016, 11:13 am
#3
Original Poster
Join Date: Apr 2016
Posts: 5
I would certainly not volunteer that info. The conversation was like he asked for the source of money order ,and where the money was coming from. I told him that the money was of our own, and my spouse bought it from USPS, and we could upload the receipt for that. Then he came up with saying buying money order with gift card was money laundrying activity, and I said definitely no, we bought gift cards with our own credit card, and we have proof of purchase. I really have no idea how he figured it out.
Apr 4, 2016, 3:20 pm
#6
Original Poster
Join Date: Apr 2016
Posts: 5
That's good for you. I don't remember I have signed any doc related to MO deposit. I asked the question whether I could deposit USPS money order by mobile, and they replied yes. They should tell me a big NO. I opened it for the $250 checking bonus, and sadly it's dead.
Apr 4, 2016, 3:45 pm
#7
Join Date: Jul 2006
Location: NYC
Programs: DL PM, Marriott Gold, Hertz PC, National Exec
Posts: 6,736
Buying MO's with credit cards or VGCs, and then depositing them in the bank, isn't money laundering. It certainly LOOKS a lot like money laundering, however, and it's easy to see how banks would just not be interested in dealing with the hassle.
Apr 4, 2016, 5:22 pm
#9
Join Date: Apr 2016
Posts: 4
The disclosure wasn't only about prohibiting MO deposits, it had a long list of terms and conditions and that was one of them. I've opened a few other accounts since Talmer and I've noticed MOs were a no no on the disclosure too. I agree with cestmoi123, MOs can look shady and banks don't want the risk. Sorry you missed the bonus.
Apr 4, 2016, 6:10 pm
#10
Join Date: Sep 2014
Posts: 1,837
The disclosure wasn't only about prohibiting MO deposits, it had a long list of terms and conditions and that was one of them. I've opened a few other accounts since Talmer and I've noticed MOs were a no no on the disclosure too. I agree with cestmoi123, MOs can look shady and banks don't want the risk. Sorry you missed the bonus.
Im still waiting for my bonus and have deposited 1 MO in person.
Apr 4, 2016, 6:41 pm
#11
Join Date: Apr 2016
Posts: 4
I would just learn from the OP's situation to not deposit anymore MOs.