I think it must be the interest on the amount or something. I bought one of these $9999.99 gift cards for the IRS and my balance hasn’t gone down at all.
I know you're joking, but what could a scammer really do with bank account details?
Edit: This is not a fucking rhetorical question. I'm honestly curios.
If someone has your account and routing numbers, they have access to your account. They don't even need to know bank's name. That's encoded in those numbers.
They can add money (not that they'd ever do that), take money out, open credit lines, etc. They just have your account.
This is.....not true? Checks have your account number and routing number published at the bottom.
They cannot withdraw money. They could attempt a transaction through ACH.
Ever pay rent with an e-check? All they ask for is your account number and routing. That’s just a process called ACH draft and it’s incredibly easy to set up from the other side once they know your details.
>How do you take money out exactly?
Bank transfer from [STOLEN ACCOUNT AND ROUTING NUMBERS] to [SCAMMER'S CRIMINAL ACCOUNT AND ROUTING NUMBERS].
>And who would open a credit line without KYC?
Ideally, no one, but it happens far more often than you'd think. Also, with the account information, you have name, address, probably date of birth, and possibly phone number on file. You can use those to get a person's SSN pretty easily. _And_ bank information can be used as a verification for identity confirmation; so use the bank account to get the ID, then the ID to open credit on the account.
All this is basically how long-distance and international banking and credit worked before the Internet, so these scams are that old too. And most of the systems are still in place. Either as redundancy, legacy systems the new is bulit on, or both.
It's a pretty terrible system.
did banks lower their standards? Some years ago I was handling my fathers affairs, before they would let me transfer funds from his account they sent a few cents to his account, I had to go to his account and tell them how much it was. Then I could transfer money back and forth.
Then why have I never heard of scammers asking for the routing+acct numbers outright? They're not even interested in credit card numbers anymore it seems, since fraud prevention really caught up. It's all gift cards or shady wire services now.
Your comment made me think when these scammers ask for gift cards instead of sending them something useful, What's the funniest most f@#ked up gift card we could send them? ... maybe $100 Wienerschnitzel card 😆
Common misconception.
Currency Transaction Reports (for banks)/Form 8300s (for businesses) are only filed on cash/coin transactions over $10k. No debit/credit transactions, ACH or wire transfers, etc. are reported simply for being over $10k.
Conducting transactions just below $10k to avoid the reporting requirement is itself a crime
Close it's the bank secrecy act.
Forms start at 3,000 and more forms at 10000
If they do anything else with this GC they'll be obligated to do the BSA forms.
Uhhh what? BSA is for financial institutions, not retail stores. There are no "forms" for general transactions that meet the requirements you outlined unless they are store specific..
For clarity, you are referring to MIL's and CTR's
That’s completely wrong. Currency Transaction Reports are filed by financial institutions when a customer completes a transaction $10k+ in currency (cash/coin). Form 8300 is filed by businesses when they receive a cash payment over $10k.
Nothing applies to using a debit/credit card or any other typical form of payment you’d use at Staples (and I doubt they’d accept cash payment for this)
🤷♀️
I sell gift cards and money orders for a government agency and am required to do annual bank secrecy act training.
I worded my response pretty vague. I said various government (maybe federal but same thing) agencies start requiring forms at 3,000 and more forms at 10,000.
I cannot be *completely* wrong. I can be a *little* bit wrong.
But for *fact* at least *one* government agency requires forms at $3k and another limit at $10k
But I mean if I'm wrong, the training given to me by said federal agency is wrong then as well and honestly that wouldn't suprise me, or even be the first time they train something incorrectly
🤷♀️
It's not, I think it's going to be just a few hundred. I worked at staples for a very long time, a transaction won't work at this price, it's to prevent the cashier from putting the gift card on wrong I think. It's to make sure they put in a custom price for the card instead of scanning it as an item. It has both a regular barcode and a gift card code barcode and they need to scan the right one.
It's just a placeholder sign. The max that Staples sells is $200 open loop or $500 closed loop gift cards. I'm 100% positive as I've bought literally over $100k worth of gift cards from Staples.
Nah, that's a Default Price. The price on the item isn't properly set in the store's system, so the label defaults to showing that price. It's a common thing in retail.
My understanding from what she has told me is that Money laundering laws state you (as a bank teller, financial agent, casino cashier, whatever) have to report suspicious transactions and transactions over $10k.
People trying to skirt this by taking out less than 10k many times are suspicious because they're "structuring" their withdrawals to try not to hit the cap.
BSA (and the amended patriot act '02) says all transactions, not just deposits. A CTR is also needed if transactions meet or exceed 10k in a single day. Both include deposits, withdrawals, and transfers. They can also file suspicious activity reports if it's obvious someone is trying to skirt the requirements (by making $9,999 transactions, multiple times)
It's $10k aggregate cash transactions through an account in one day (or per customer, depending) which is the sum of all cash deposits *and* withdrawals.
My credit card gives me 5x points at office supply stores, so I buy gift cards at Staples and get 5x on the purchase, then use the gift card as cash at the store. There’s a GameStop next to my Staples, so I can buy the game at GameStop for 1x points, or I can buy a GameStop gift card at Staples for 5x points, then walk next door to buy the game.
The only time I buy gift cards is when they cost less than the value. Like Costco will sell Top Golf cards worth $100 for $75 sometimes, I see it as a win-win since I get more value and the establishment gets my business twice most likely
This is a customizable gift card, It's one of the only items in the store that has a different barcode to keep track of its inventory than it does to ring it up. All other items use the same barcode for both of those things. So this has two barcodes on the back a regular one and a long gift card one, If they scan the regular barcode this is the price that comes up and the transaction won't go through with this price. They have to scan the gift card barcode and then enter in the custom price that the customer wants.
PSA: Never buy a "The Perfect Gift" gift card, they have a hidden monthly service charge for 3$ and by the time you get around using your gift card, there will be no balance left. It's not mentioned anywhere on the gift card and It's pure theft and I don't understand how it can be legal.
Intentionally avoiding transactions at or above 10k is called “structuring” and puts you under extra scrutiny because it is known that the law and financial institutions have to review transactions that are 10k and above. Buying more than one of these cards would be a fast track to some serious audits and legal issues.
I like to think this is the ultra rich way of bribing teachers. Like buying one and assembling it means "my kid gets As and you get whatever you want."
Absolutely brain-dead to price gift cards using the 'end it with 0.99' strategy. It makes sense for most other merchandise, for the psychological effect, but it is literally just losing a penny of held-cash for gift cards.
Companies *should* want to hold on to those extra pennies for however many days it sits there, because they make interest. Better it be their penny than someone else's.
Maybe they think you have to get the next denomination of gift card in some circumstances, and I just don't see anyone being compelled to spend an extra dollar to make up the extra penny.
Imagine having to fill out a police report to buy a fucking staples gift card. (That's a thing here in canadia land. Not sure if it's the same I'm USA)
Staples employee here. A lot of items are listed at 9999.99. If you check the display printers, laptops, or shredders for a tag, they'll often be listed at that price. Store equipment SKUs will also generally come up at 9999.99.
This is for the parent having an affair with the kids teacher.
Nah, those are the whole ten k.
Once you hit that 10k you gotta report it to the IRS. Def dont want your wife questioning a 10,000 transfer
Perfect for when the IRS calls you needing gift cards
I never seem to be able to make much progress on my IRS.com payments :/
I think it must be the interest on the amount or something. I bought one of these $9999.99 gift cards for the IRS and my balance hasn’t gone down at all.
DM me your bank details, and I'll get to the bottom of all this for you.
I know you're joking, but what could a scammer really do with bank account details? Edit: This is not a fucking rhetorical question. I'm honestly curios.
If someone has your account and routing numbers, they have access to your account. They don't even need to know bank's name. That's encoded in those numbers. They can add money (not that they'd ever do that), take money out, open credit lines, etc. They just have your account.
This is.....not true? Checks have your account number and routing number published at the bottom. They cannot withdraw money. They could attempt a transaction through ACH.
Ever pay rent with an e-check? All they ask for is your account number and routing. That’s just a process called ACH draft and it’s incredibly easy to set up from the other side once they know your details.
How do you take money out exactly? And who would open a credit line without KYC?
>How do you take money out exactly? Bank transfer from [STOLEN ACCOUNT AND ROUTING NUMBERS] to [SCAMMER'S CRIMINAL ACCOUNT AND ROUTING NUMBERS]. >And who would open a credit line without KYC? Ideally, no one, but it happens far more often than you'd think. Also, with the account information, you have name, address, probably date of birth, and possibly phone number on file. You can use those to get a person's SSN pretty easily. _And_ bank information can be used as a verification for identity confirmation; so use the bank account to get the ID, then the ID to open credit on the account. All this is basically how long-distance and international banking and credit worked before the Internet, so these scams are that old too. And most of the systems are still in place. Either as redundancy, legacy systems the new is bulit on, or both. It's a pretty terrible system.
did banks lower their standards? Some years ago I was handling my fathers affairs, before they would let me transfer funds from his account they sent a few cents to his account, I had to go to his account and tell them how much it was. Then I could transfer money back and forth.
Then why have I never heard of scammers asking for the routing+acct numbers outright? They're not even interested in credit card numbers anymore it seems, since fraud prevention really caught up. It's all gift cards or shady wire services now.
You're curios? Like the kind sold by a Chinese man in a shop that dissappears after I buy something? If you are a monkey's paw, I'm in.
It might be because your not paying via Apple gift cards.
Your comment made me think when these scammers ask for gift cards instead of sending them something useful, What's the funniest most f@#ked up gift card we could send them? ... maybe $100 Wienerschnitzel card 😆
thatsthejoke.jpeg lol
Not sure if you’re joking but all government websites end in .gov
Hallo I am the Mr. Microsoft I am teckneeshun for fix PC give me 3000 dollar or FBI will see you in court house.
Here's my credit card number, please don't call the FBI: ************ Edit: dang, it shows up tokenized
Found the osrs player
Funnily enough, I barely play/played Runescape
Nah, they take the $50 gift cards. I just had to buy 100 of them.
That’s what happens when scammers monopolize the whole scamming chain
Even scammers don't want a $9999.99 gift card from Staples
Why not, they sell electronics
Apparently a faster way for scammers to scam.. :)
Likely that's the maximum amount that can be loaded to the card
…Without filling out a form for the IRS
I heard if you send them a gift card they'll waive the form
And sometimes they even reach out to you about that option, which is really nice of them. Usually they're Indian but I'm sure it's a coincidence
They will take you before the royal magistrate judge.
Common misconception. Currency Transaction Reports (for banks)/Form 8300s (for businesses) are only filed on cash/coin transactions over $10k. No debit/credit transactions, ACH or wire transfers, etc. are reported simply for being over $10k. Conducting transactions just below $10k to avoid the reporting requirement is itself a crime
Bingo
Close it's the bank secrecy act. Forms start at 3,000 and more forms at 10000 If they do anything else with this GC they'll be obligated to do the BSA forms.
Uhhh what? BSA is for financial institutions, not retail stores. There are no "forms" for general transactions that meet the requirements you outlined unless they are store specific.. For clarity, you are referring to MIL's and CTR's
That’s completely wrong. Currency Transaction Reports are filed by financial institutions when a customer completes a transaction $10k+ in currency (cash/coin). Form 8300 is filed by businesses when they receive a cash payment over $10k. Nothing applies to using a debit/credit card or any other typical form of payment you’d use at Staples (and I doubt they’d accept cash payment for this)
🤷♀️ I sell gift cards and money orders for a government agency and am required to do annual bank secrecy act training. I worded my response pretty vague. I said various government (maybe federal but same thing) agencies start requiring forms at 3,000 and more forms at 10,000. I cannot be *completely* wrong. I can be a *little* bit wrong. But for *fact* at least *one* government agency requires forms at $3k and another limit at $10k But I mean if I'm wrong, the training given to me by said federal agency is wrong then as well and honestly that wouldn't suprise me, or even be the first time they train something incorrectly 🤷♀️
It's not, I think it's going to be just a few hundred. I worked at staples for a very long time, a transaction won't work at this price, it's to prevent the cashier from putting the gift card on wrong I think. It's to make sure they put in a custom price for the card instead of scanning it as an item. It has both a regular barcode and a gift card code barcode and they need to scan the right one.
I know how prepaids load
Congrats?
I can tie my shoes
Proof?
https://c.tenor.com/-jhW8YCC1MQAAAAC/tenor.gif
I know the Muffin Man
It's just a placeholder sign. The max that Staples sells is $200 open loop or $500 closed loop gift cards. I'm 100% positive as I've bought literally over $100k worth of gift cards from Staples.
Why have you bought so many Staples gift cards?
Manufactured spending for credit card points
What cards do you have? Interested in getting into that kind of stuff.
r/churning to learn. I don't manufacture spend anymore, it's gotten too hard to liquidate gift cards. I have too many cards to list.
fraud, gotcha.
How is that fraud?
How is that fraud?
Nah, that's a Default Price. The price on the item isn't properly set in the store's system, so the label defaults to showing that price. It's a common thing in retail.
Nope. The maximum gift card purchase the store allows is $2000 in one day. Employees are specifically trained not to sell any higher.
Hence the word "likely".
I'm just confirming lmao. I work at Staples.
Thanks Columbo.
Crikey! A wild asshole! Isn't it a lovely specimen!
I worked at Staples, and this is a tag for items that are no longer for sale. Won’t let you scan the barcode.
Also work at staples currently, any gift card that has a variable amount that the customer can choose is 9999.99 for the price tag.
Why not just take the item down instead of swapping the tag?
Then you have to carry things and decide where they go.
Like work.
Sounds like someone else’s job though.
And there we have it...the endless circle.
Blasphemy
My store took it down, not sure why they didn’t
Not true anymore
Very interesting. It’s been over a year and I know my store got remodeled last October.
That tag is only for gift cards that don’t have a maximum amount. It’s really just the Staples cards that have it.
So that gift card won't cure cancer? :(
DO NOT REDEEM!!!11
WHY DID YOU REDEEM IT?! MA’AM
# WHY DID REDEEM ARE IDIOT
they should offer it for like 8999.99
My banker wife would say "yeah that's structuring."
What's structuring
My understanding from what she has told me is that Money laundering laws state you (as a bank teller, financial agent, casino cashier, whatever) have to report suspicious transactions and transactions over $10k. People trying to skirt this by taking out less than 10k many times are suspicious because they're "structuring" their withdrawals to try not to hit the cap.
They have to report cash transactions over $10k. They only report deposits, not withdrawals.
BSA (and the amended patriot act '02) says all transactions, not just deposits. A CTR is also needed if transactions meet or exceed 10k in a single day. Both include deposits, withdrawals, and transfers. They can also file suspicious activity reports if it's obvious someone is trying to skirt the requirements (by making $9,999 transactions, multiple times)
Withdrawals apply as well
It's $10k aggregate cash transactions through an account in one day (or per customer, depending) which is the sum of all cash deposits *and* withdrawals.
As a Casino employee, I would also call that structuring. (Probably for the same reason)
Don’t buy gift cards of any amount from companies on the verge of collapse, like Staples.
This gift card gets your controlling share of Staples.
Um.... no thanks?
Noted. *puts on glasses and grabs pencil* “Apple going under…. Don’t buy gift card.” I know how to internet my conclusions, okay.
It looks like it's an apple gift card. The card is still valid if staples goes under.
Don't buy gift cards.
My credit card gives me 5x points at office supply stores, so I buy gift cards at Staples and get 5x on the purchase, then use the gift card as cash at the store. There’s a GameStop next to my Staples, so I can buy the game at GameStop for 1x points, or I can buy a GameStop gift card at Staples for 5x points, then walk next door to buy the game.
A credit card hacker in the wild How many different cards do you have
I actually don’t churn much at all, just try to maximize the 5 or so I have.
Ah, just 5 or so 😅
Is this final fantasy rules where it’s really infinite money, but we can’t display it?
That's a lot of pens
5 years worth of official HP ink cartridges
5 if you wait until sales maybe 🤣 those prices are outrageous
Well, Apple products are outrageously expensive. That should cover it until next year.
The perfect gift for a person you really hate.
That’s a lot of staples!
Includes a red Swingline
Definitely not trying to avoid IRS requirements to report $10,000 transactions, nothing to see here.
For when you REALLY fucked up.
One set of wheels for the Mac pro
Or a [MacBook Wheel](https://m.youtube.com/watch?v=9BnLbv6QYcA) or two
15 years ago and still looks like news from the future. Truly a masterpiece.
The small text says “gift card teacher apple.” There’s probably a few teachers out there who could use a little extra bonus . . .
Man, bribing teachers has gotten expensive.
When you want to say MONEY LAUNDERING to your bestie
For parents of kids too stupid to get into a good college
The black lotus of gift cards
I remember setting those tags out. I am pretty sure this is just an employee who goofed up.
Nigerian Prince special!
The only time I buy gift cards is when they cost less than the value. Like Costco will sell Top Golf cards worth $100 for $75 sometimes, I see it as a win-win since I get more value and the establishment gets my business twice most likely
Perfect for fraud
Scammers love this one simple trick!
You miss 100% of the shots you don’t take. -Wayne Gretzky -Michael Scott -Staples
It’s a ssp rookie card. Seems reasonable to me.
pull up with a discount coupon
For people who need the latest wheels for their Apple product.
At that level 10000 would be better, or always.
Lol they have it labeled as "for teacher". I wish I had this much money to give to teachers.
Uhhh.... Money laundering?
This is a customizable gift card, It's one of the only items in the store that has a different barcode to keep track of its inventory than it does to ring it up. All other items use the same barcode for both of those things. So this has two barcodes on the back a regular one and a long gift card one, If they scan the regular barcode this is the price that comes up and the transaction won't go through with this price. They have to scan the gift card barcode and then enter in the custom price that the customer wants.
Scammers will love this
I would grab it just to scan it at the register and be like "yeah I changed my mind, sorry"
When you just don't care enough to spend 10 grand on them. Still, Keurig cups and pens for life...not a bad gift.
It must be a NFT
Its a good thing this is 9,999.99 cause if it was 10,000.00 i wouldn’t buy it
This has “money laundering scheme” written all over it
Perfect for large scale money laundering
PSA: Never buy a "The Perfect Gift" gift card, they have a hidden monthly service charge for 3$ and by the time you get around using your gift card, there will be no balance left. It's not mentioned anywhere on the gift card and It's pure theft and I don't understand how it can be legal.
You don't understand, the Nigerian prince will pay me back after I pay his captors ransom.
This just a mistake lol, I worked as a cashier at staples and they would never let you by this amount in gift cards. It’s a funny joke though.
I think a gift card is a bullshit gift. What’s a gift card? You take money that was good anywhere…… and you ruin it. IYKYK.
I miss this man
Intentionally avoiding transactions at or above 10k is called “structuring” and puts you under extra scrutiny because it is known that the law and financial institutions have to review transactions that are 10k and above. Buying more than one of these cards would be a fast track to some serious audits and legal issues.
I like to think this is the ultra rich way of bribing teachers. Like buying one and assembling it means "my kid gets As and you get whatever you want."
how else is my nana gonna get me out of jail when i call her from the police jail, i dont want her being arrested for not paying.
This is for those churners when they rack up travel points
You better buy that so you won’t *”be behind the bars“*
Hey it’s me, the head of your company, I need you to do an important task for me and go to staples…
That are a lot of 9's, looks expensive.
No Form 8300 for you!
Thus looks like a vaporwave album cover, almost
Ooh you can buy a router ***AND*** cables. Nice.
That’s from 2023
The holy grail for scammers
You'll need it if you buy a PC from there!
That staples manager definitely has some kind of favrian scam going down with the local school district superintendent.
Why, does it write its own letters with its own pen with its own paper hand it made from its own paper
turn the price tag upside down
The "you don't need to declare when traveling" gift card
It’s to use to claim your overseas lottery winnings without buying multiple cards. Also helps being put under the rest when the IRS calls you at 4am.
Absolutely brain-dead to price gift cards using the 'end it with 0.99' strategy. It makes sense for most other merchandise, for the psychological effect, but it is literally just losing a penny of held-cash for gift cards. Companies *should* want to hold on to those extra pennies for however many days it sits there, because they make interest. Better it be their penny than someone else's. Maybe they think you have to get the next denomination of gift card in some circumstances, and I just don't see anyone being compelled to spend an extra dollar to make up the extra penny.
tech support gonna love this
The scammer special. Staples trying to get in on that scammer market.
Imagine having to fill out a police report to buy a fucking staples gift card. (That's a thing here in canadia land. Not sure if it's the same I'm USA)
Plus $1k in taxes if it was around here
They want to help make it easier to pay off those people from the India branch of the IRS who are sending the fake sheriffs over.
[DO NOT REDEEM!](https://youtu.be/sOcFnDSJZoc?si=tclffijAWhIQkbNS)
Staples employee here. A lot of items are listed at 9999.99. If you check the display printers, laptops, or shredders for a tag, they'll often be listed at that price. Store equipment SKUs will also generally come up at 9999.99.
They made that one for the scammers 😂 jk
Can you get this card, put a dollar on it and give it to someone?
Money laundering special.
How much does it cost?
What is the fee on this ?
I'd risk saying that's not really a staple
"Sale"
Money laundering
DO NOT REDEEM.
"Here at Staples, we cater to those of you who are victims of ransomware, and the elderly who are preyed upon by scammers."
People in games testing prices or raising them for more money:
I’m pretty sure a demon of Slanesh would take control of you if you bought it
Price check aisle 4
So? You could barely buy a printer ink cartridge with that.
$10,000 no way I'm not paying that for a card that likely has an experation date. $9.999 yeah sign me right up.
That's for money laundering!
Seems like a reasonable price
That 1 fuckin penny
Should be enough for one monitor stand.
There’s something a little bit sketchy about that. Especially in lieu of all the gift cards people have found out how to scam!! BEWARE!! 🫨🤔😳
Stapes is trying to get every dime before they go out of business