The Forward Cabin reports on new gift card limits at CVS effective October 27.
- No more than $2000 total per person per day
- ID required for purchases of $300 or more
Purchasing Vanilla Reload cards with a credit card ended April 4. But CVS has still been a useful place to buy prepaid cards.
They’re placing new limits on the purchase of those cards, and it’s pretty clear they’re doing it because of concerns over fraud or federal financial reporting rules.
That’s why they’re hard-coding limits of $2000 per single transaction into registers for purchase of prepaid cards, and why the memo to store managers warns about ‘structuring’ or breaking up larger transactions into smaller one. The memo warns that structuring to avoid reporting requirements is illegal, which points to the concern or motivation for this change although it’s rather oddly places as there are no such reporting requirements for sub-$2000 transactions.
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