I received a letter from American Express saying they needed to verify information about my business for a small business credit card that I have (Starwood). The letter said they had been trying to reach me but had been unable to. I did not receive any phone calls or messages from American Express.
So I called the number on the letter. I wondered if this was an American Express Financial Review — I wrote the definitive guide on those — or if they were looking to validate that I had a bona fide business (for instance, looking for an IRS letter for my LLC or bills addressed to the business).
When American Express answered, it was an outsourced agent (judging by the accent) who identified herself as being with Financial Review. After looking up my card information and asking identifying information to validate who I was, she ran through a few questions about my business — all, apparently, trying to classify whether or not I was likely involved in high risk money laundering-type activity.
Here’s What I Was Asked:
- Does my business transfer money on behalf of others – more than $1000 per day for any individual?
- Does my business cash checks for others – more than $1000 per day for any individual?
- Do I sell gift cards – more than $1000 per day to any individual?
No, no, and no. Check. And done.
The card was never turned off, and I wasn’t asked to provide any documents.