Mod locked thread without knowing the facts

[MikeyIs4Dcats]

Link

This thread is not fraud. It falls entirely within the limits of the programs Terms and Conditions. The thread should be unlocked.

 

[Matthias99]

Um... ethically very questionable, legally questionable. Not something AT wants to be promoting, I'm sure.

 

[AnandTech Moderator]

The Grey area of fraud is not acceptable.

The intent of the program was to have B-of-A round up for "legitimate" purchases to encourage usaage of their card.

What he is promoting/indicating is not a "legitimate" purchase.

Therefore it is fraud.

 

[MikeyIs4Dcats]

Originally posted by: AnandTech Moderator
The Grey area of fraud is not acceptable.

The intent of the program was to have B-of-A round up for "legitimate" purchases to encourage usaage of their card.

What he is promoting/indicating is not a "legitimate" purchase.

Therefore it is fraud.

I guess after rwading the OP's frist post, I'd agree, what he joked about is outside the terms, but using the account to pay your cable bill in small incrememnts as was being discussed is not.

 

[bsobel]

Originally posted by: MikeyIs4Dcats

Originally posted by: AnandTech Moderator
The Grey area of fraud is not acceptable.

The intent of the program was to have B-of-A round up for "legitimate" purchases to encourage usaage of their card.

What he is promoting/indicating is not a "legitimate" purchase.

Therefore it is fraud.

I guess after rwading the OP's frist post, I'd agree, what he joked about is outside the terms, but using the account to pay your cable bill in small incrememnts as was being discussed is not.

Of course, if it wasn't a joke the OP is a tool as the transacton costs would kill any such benefit.

 

[MikeyIs4Dcats]

Originally posted by: bsobel

Originally posted by: MikeyIs4Dcats

Originally posted by: AnandTech Moderator
The Grey area of fraud is not acceptable.

The intent of the program was to have B-of-A round up for "legitimate" purchases to encourage usaage of their card.

What he is promoting/indicating is not a "legitimate" purchase.

Therefore it is fraud.

I guess after rwading the OP's frist post, I'd agree, what he joked about is outside the terms, but using the account to pay your cable bill in small incrememnts as was being discussed is not.

Of course, if it wasn't a joke the OP is a tool as the transacton costs would kill any such benefit.

there are no transaction costs.

 

[bsobel]

there are no transaction costs.

How does your merchant account not charge you for atm transactions?

 

[Matthias99]

Originally posted by: bsobel

there are no transaction costs.

How does your merchant account not charge you for atm transactions?

Depending on the account, you may get a certain number of free transactions/month. And you don't need to use an ATM; you can just transfer the funds online. This is usually free from a business checking account. Also, if they charge, say, $.05/transaction and BoA is "paying" you $.99 per $.01 transfer... you're still clearing quite a bit.

Clearly this is abusing the program, however, and I would not be surprised if BoA removes the money from the accounts of anyone who "pays themselves" to rack up the $250 (paying your cable bill in $.01 increments is pushing it IMO, but technically within the rules).

 

[JEDIYoda]

Mod knew enough of the facts to put 1 + 1 together...nuff said!!