Bank refuses to do business ?

[coloeb433]

So today i went to buy a few diamonds and the transaction was declined by my bank. I called them and was told that they don't do business with online gaming. I closed my account, and my wife thinks I am overreacting. I don't think it's my banks business who I send money to or for what purpose, What do you think?

 

[Pericles the Lion]

You're asking total strangers for input regarding a difference of opinion with your wife? Hmm! I think you're about to turn a molehill into a mountain.

 

[Johnny B. Goode]

I have no comment on your wife's reaction, but unless something is illegal it is not your bank's job to police your spending habits. As long as you had the money in your account they definitely should not have declined the transaction. I would be changing banks, too.

 

[MJ Artisan of War]

It is likely because Inno is based overseas..... many banks dislike those transactions....

 

[Ironrooster]

Perhaps they're having trouble with some of the online gambling sites and just decided to not fool with any gaming sites.

Personally, I use a credit card not tied to my bank for all my out of the country online purchases.

 

[FriarTuck]

paypal

 

[Emberguard]

You know what? You could keep that bank if it has reasonable enough fee’s as your savings account, then open in a second bank that will allow the transaction for your fun money You know this bank won’t allow your money to be wasted on just anything. That’s not entirely a bad thing as long as you can still access the money when you want it. You’re right it’s not their job to police your spending, but it does mean you can use it to ensure you separate food/rent/clothing/etc money from entertainment money

 

[wolfhoundtoo]

Probably the person you spoke with didn't want to tell you that they declined those transactions because they frequently trigger their fraud protection system. I had a credit card that wouldn't process payments to Inno for that reason as well until I spoke with someone from the right department. The sheer number of fraudulent transactions that involve overseas payments likely makes it not worth it from the bank's perspective if that is their actual policy (versus someone you spoke with who didn't know how to fix it).

 

[Cyrus the Adequate]

My credit union declines, as well. I would surmise that the combination of international transactions and an industry that has a questionable track record leads to an unusually high risk for the bank.

 

[cathea]

Unfortunately all the above reasons are correct for banks having to put up with fraud and spending money and time on such investigations. Just find yourself a bank or credit union that will not hassle you. Just monitor your account so you can keep track of legitimate spending.

 

[Notorious RHG]

Changing bank accounts is a huge hassle. I probably would have just bought a prepaid card to buy my diamonds.

 

[UP ONLINE]

I have no comment on your wife's reaction, but unless something is illegal it is not your bank's job to police your spending habits. As long as you had the money in your account they definitely should not have declined the transaction. I would be changing banks, too.

LOL it's not like it's 10 + 200 K $$$

 

[Oswyn the noble]

That has never happened to me. I use my gplay credit for movies mainly

 

[wolfhoundtoo]

They aren't policing anyone's actions or spending habits nor is it about the amount of the individual transaction. Without doing any kind of research I can't provide actual numbers but realistically overseas transactions are probably best for fraudulent transactions as the bank is much less likely to recover the money than with a local bank. At the end of the day the bank is weighing THEIR risk of loss since most fraudulent transactions likely end up being their cost if the holder of the card reports it promptly and didn't share their card without anyone.

 

[Flavius Belisarius]

This happened to me several years ago. I called the Card Company and they tagged my account to accept charges by INNO.