This guy banks.
Comment on My credit union no longer allows me to payoff pending purchases made on my credit card
greyhathero@lemmy.world 2 months ago
It’s to stop money laundering
foggy@lemmy.world 2 months ago
Bronzebeard@lemmy.zip 2 months ago
Explain? All money involved is already in a bank.
PorradaVFR@lemmy.world 2 months ago
How does over paying enable laundering? I don’t follow.
ccunning@lemmy.world 2 months ago
Yes. Exact same question.
I do not have a criminal mind…
greyhathero@lemmy.world 2 months ago
Not going to teach people how to launder money, but one of the avenues that can be used to get a respectable transaction is to overpay from a dirty bank account to a credit card, and then the financial institution will credit into the users clean bank account which will raise less flags then a direct transfer. This is just one step in a process, and not even sure it works anymore. But many banks would rather just not deal with it.