Will depositing $1000 a month onto a prepaid card trigger a SAR Report?

[Timmy]

I know that it is not a big deal with a bank, but if I am sending about $1000 a month to my prepaid card from PP... will that trigger a Suspicious Activity Report?

[MM78]

Are you referring to a "Suspicious Activity Report"?

[Timmy]

Yes I am mm87

[MM78]

The only thing that can happen is if your Prepaid doesn't like the mismatch name deposits...the card company can block your account, if that happens they can request for documents from the person's name the deposits are coming in.

[Klemantina]

It also depends on your rating, balance in paypal, age of the account...
1k a month is alright if you have around 300 available and if its ur usual activity.

[MM78]

Originally Posted by Klemantina

It also depends on your rating, balance in paypal, age of the account...
1k a month is alright if you have around 300 available and if its ur usual activity.

What does the available money in Paypal have to do with his PrePaid Card filing an SAR? I think your confused on what the OP is asking.....

What the OP is asking is, Will my Bank a.ka. Prepaid Card get mad if he deposits $1,000 a month onto his account.

[Timmy]

MM78 the prepaid account is in my real name. No one elses.

Klemantina, I do not understand what you are talking about? I am talking about the bank that issues my pre-paid card, not paypal.

I just wanted to know if depositing $1000 a month was really even considered "Real" Money, enough to trigger and SAR report and yes, this is my normal activity to deposit anywhere from 800 - 1000 dollars on my card a month from paypal.

[BigCJ]

I think he means with the paypal mismatching names.

A paypal that says jane dont do it, getting payments to an account name John stop it...it may trigger a report/review and block

[Timmy]

LOL, what are you guys talking about. I already said the names on my paypal and pre-paid match.

MM78 is the only one that is reading correctly.

So...

This is not a mismatch name issue and not a paypal SAR report issue.

I am asking is $1000 per month sent on a regular basis from an account that that is legit and the names match... IS THAT $1000 per month considered a large ACH deposit even though it is spread out over one months time?

Is 1K enought to trigger a SAR, I ask only because I HAVE NEVER DEALT WITH PREPAID CARD... only Bank Accounts.

[MM78]

You should be fine Timmy......

[GreenBean]

Originally Posted by Timmy

Is 1K enought to trigger a SAR, I ask only because I HAVE NEVER DEALT WITH PREPAID CARD... only Bank Accounts.

Your bank will log the amount monthly.

That is within their terms to do so.

Further action should only be taken if they have reason to do so.

Operate with that in mind.

On a monthly basis, it should not trip flags. Over one year, any bank might look at the transactions.

Hope that helps.

[Dmshark25]

I have used all kinds of prepaid cards in the last two years, there good for when you start an account off or a low sale volume account

Just make sure you look at that packet they send with the card that has all there terms and conditions

Prepaid's always have restrictions and they are all different, whether it's how much ur allowed to get in direct deposits , how many a month , how many withdrawals, how much can u have on the card at once

So each one has there own rules

But if your using the card in connection with eBay sales than you will be fine in terms of suspicious Activity

Like u said mismatched names is not ur issue, and if it was in my experience they will freeze ur card when u call they tell u if another deposit comes in a different name they will have to close the account and than they release the funds and deactivate the card

But $1000 a month is on the low end and there's nothing suspicious with eBay sales in your real name

As you grow, u should think to move and get a real bank account, so u don't need to worry about certain limit restrictions on prepaids, but good card to start with