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Be sure to read this post! Beware of scammers. https://www.indianagunowners.com/threads/classifieds-new-online-payment-guidelines-rules-paypal-venmo-zelle-etc.511734/
Watch Your Bank's Fine Print
- Thread starter buckwacker
- Start date
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Valid points.
I can't wait to hear the Managers explanation. I doubt he even calls unless the OP has 7 figures
dieselrealtor
Master
Thought this story seemed familiar...
Georgia Credit Union Bars Customers From Purchasing Guns With Their Own Money
Georgia Credit Union Bars Customers From Purchasing Guns With Their Own Money >>> link to story Georgia United Credit Union recently updated their User Agreement — you know, that wall of text that your financial institution flashes at you from time to time and which few people bother to read...www.indianagunowners.com
In post #10 of that thread, BBI posted an update from the credit union saying: "Recently, part of our account agreement was shared without full context, causing confusion. The information shared only pertains to person-to-person payments and does not reflect how members can use their money. The terms stated are standard, applying for most payment services."
OP, you might double-check the defined terms in that agreement you posted. Is the captilalized term "Service" referring to online banking in general, or some kind of person-to-person payments like that Georgia Credit Union claimed?
IANAL,
In a world where the rule of law used to exist, I would think that this line would be a big antitrust violation;
"The terms stated are standard, applying for most payment services."
I have yet to hear back from any management at the bank. I've linked below the user agreement I was referencing; the offending verbiage was near the end. Based on how I read it, I believe I an not permitted to using any mobile or online banking feature for the prohibited list of items.
www.firstmerchants.com
Mobile and Online Banking Terms and Conditions - First Merchants Bank
Review the terms and conditions of our mobile and online banking services at First Merchants Bank. Understand the guidelines and usage policies.
dieselrealtor
Master
You could always post it on their Facebook page, that's how I got godaddy's attention
There is wisdom in his words. Same when Andy Mohr Kia outright stole a lease payment from me. The finance manager ignored my calls and emails and didnt actually take action until I posted a google review and FB post tagging them like 10x. Within 45 minutes he was calling me. And he lied about what prompted his call, too. "I got an email from my subordinate. I guess you guys were emailing back and forth..." No, your social media guy probably called you in a panic, ya tool!
PGRChaplain
Master
My Funds would look like the cloud of Dust in the Road Runner Cartoon when he left!
I just got a call back from a regional manager regarding the user agreement. He said he was like most everyone else and just clicked the button without reading the agreement; he wasn't even familiar with its contents.
He tried to rationalize it as giving the bank latitude to restrict illegal behavior, and pointed out it mentioned travelers checks and cryptocurrency as well. I didn't buy that because the agreement wasn't limited to illegal activity, but also included "brand damaging" activity which could mean anything.
I made sure he knew I was shopping for another bank. He entreated me to to stay and said he would look into whether other bank's agreements included such language and into why I was even required to agree to new terms to use the updated site since I've been there for years and used to prior site. My concern is obviously amplified by actual stories of banks restricting firearms related purchases, canceling ffl bank accounts, cc code tracking etc. I'll let you know what he says after he's had a chance to gather more information.
He tried to rationalize it as giving the bank latitude to restrict illegal behavior, and pointed out it mentioned travelers checks and cryptocurrency as well. I didn't buy that because the agreement wasn't limited to illegal activity, but also included "brand damaging" activity which could mean anything.
I made sure he knew I was shopping for another bank. He entreated me to to stay and said he would look into whether other bank's agreements included such language and into why I was even required to agree to new terms to use the updated site since I've been there for years and used to prior site. My concern is obviously amplified by actual stories of banks restricting firearms related purchases, canceling ffl bank accounts, cc code tracking etc. I'll let you know what he says after he's had a chance to gather more information.
dieselrealtor
Master
You could let him know that this policy of theirs is "Brand Damaging", as your post here made me postpone going to their Morgantown branch or creating online.
You are having to accept the terms because they have to provide notice when the t's&c's are updated and then by accepting and continuing to use the service after the effective date, you are accepting the new terms.
Feds Gave Banks Tools To Shut Your Accounts If You Buy Guns
The same government pressure erecting an Iron Curtain around the Internet is also constructing a financial social credit system in the U.S.
thefederalist.com
I do not think the ever increasing bank regulations are a random screw up. I think what we are seeing is a drip by drip suspension of our rights, liberties and property. They are trying to walk a balance to not hurt their business while slowly positioning themselves to take over.
I have heard several stories where established coin shops that sell gold and silver bullion are having their accounts closed down. A couple publicly stated that their personal accounts as well as the business accounts were closed, with no explanation and no recourse. Places that handle routine cash over $10K already have an extra form to prove the funds are not from illegal activity. The government knows that gold and silver bullion gives a person a choice when the banking system fails. They are afraid of people having a choice.
The RICO laws of $10,000 were written in a time when $10K would buy two new Buicks and a girl to ride around with you. Now $10K will barely replace the engine in a Kia. The way the Congress is running up the inflation, $10K will soon be a couple happy meals. Any criminal that the original RICO was supposed to catch is now big enough to have a district attorney and a couple congressmen on payroll. Time for RICO to go away.
I have heard several stories where established coin shops that sell gold and silver bullion are having their accounts closed down. A couple publicly stated that their personal accounts as well as the business accounts were closed, with no explanation and no recourse. Places that handle routine cash over $10K already have an extra form to prove the funds are not from illegal activity. The government knows that gold and silver bullion gives a person a choice when the banking system fails. They are afraid of people having a choice.
The RICO laws of $10,000 were written in a time when $10K would buy two new Buicks and a girl to ride around with you. Now $10K will barely replace the engine in a Kia. The way the Congress is running up the inflation, $10K will soon be a couple happy meals. Any criminal that the original RICO was supposed to catch is now big enough to have a district attorney and a couple congressmen on payroll. Time for RICO to go away.
Sorry I've not been back with an update, but I've yet to hear back from the manager after his promised weekend research project to look into this. I've currently been swamped at work, but plan to follow up again toward the end of the week. I'll let you know what I find out.
You misspelled "my plan to withdraw all of my funds towards the end of the week."
Well that is the eventual plan unless they cave and update the terms of the agreement, maybe. I'm just starting to hate banks generally.
I have a friend that likes the casinos and is good at it, generally plays at bigger casinos once a month. Chase cancelled both his personal and business accounts and his spouses accounts because he deposited too much cash.
Read a story about a family that had all their accounts closed for the same reason and they owned a coin operated laundromat.
You and me both, brother. You and me both. This cultural rot is getting old, FAST.
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