Simmo! wrote:
Sounds like a money-exchange prevention rule to me. There is some logic in it, but it should be made very clear as to why.
It appears that in their efforts to prevent money exchanging, they are, in fact, demanding that a member do exactly that. If a member is required to send the money to a merchant, and get it back again, before making a withdrawal, isn’t that “washing“ the money?
The relatively small amounts members may transfer to one another, is nothing in comparison to the amounts merchants push through their accounts. It is far more likely for the “exchanging” to happen through transfers to merchants, than with transfers from one member to another.
:shhh: Edited by Professor – No use of the “L” word please.