Sole Proprietor? LLC or Corp? If you are a structured org (llc,Corp) and you have an invoice for said items then you should be ok.
*Credit card kiting* refers to the use of one or more credit cards <https://en.wikipedia.org/wiki/Credit_card> to obtain cash and purchasing power they do not have, or pay credit card <https://en.wikipedia.org/wiki/Credit_card> balances with the proceeds of other cards. Unlike check kiting <https://en.wikipedia.org/wiki/Check_kiting>, which is illegal under nearly all circumstances, laws against credit card kiting are not completely prohibitive of the practice, thereby allowing it to be done to some degree. It is up to the banks to detect the practice and when necessary, stop it. In order for prosecution to occur in a credit card kiting scheme, a bank must prove intent to deceive.[1] <https://en.wikipedia.org/wiki/Credit_card_kiting#cite_note-1> Eq seq reference infers paying credit card minimum balances with credit card <https://en.wikipedia.org/wiki/Credit_card> proceeds is de facto <https://en.wikipedia.org/wiki/De_facto> evidence of deceit. It all will depend on your CC Processor. Jason Wilson Remotely Located Providing High Speed Internet to out of the way places. 530-651-1736 530-748-9608 Cell www.remotelylocated.com On Wed, Jul 6, 2016 at 11:01 AM, Cameron Crum <cc...@wispmon.com> wrote: > I didn't think about the miles thing. I just didn't think they would care > as they are still getting paid and you'll be out about 3% of the charge. > The biggest charge I've run through my own cars was about $300. I know > square used to hold funds over $1000 for some period...like 7 days or so? > Maybe that is too long, but I seem to remember something like that. > > On Wed, Jul 6, 2016 at 12:55 PM, Josh Luthman <j...@imaginenetworksllc.com > > wrote: > >> From what came up a while ago you can do that no problem after contacting >> the merchant but IPPay doesn't allow those shenanigans. >> >> >> Josh Luthman >> Office: 937-552-2340 >> Direct: 937-552-2343 >> 1100 Wayne St >> Suite 1337 >> Troy, OH 45373 >> >> On Wed, Jul 6, 2016 at 1:53 PM, Chuck McCown <ch...@wbmfg.com> wrote: >> >>> I am thinking of doing this for about $10K and really don’t want to get >>> money or systems locked up. >>> I can also run it through my ecommerce site and I have a quick books >>> merchant account too. >>> >>> *From:* Cameron Crum <cc...@wispmon.com> >>> *Sent:* Wednesday, July 06, 2016 11:50 AM >>> *To:* af@afmug.com >>> *Subject:* Re: [AFMUG] Credit card irregularities. >>> >>> I've run my own card on my own account before a couple of times for >>> testing and for paying myself for something as well. I'm not sure they >>> really care, but I haven't read the AUP in like 4 years. >>> >>> Cameron >>> >>> On Wed, Jul 6, 2016 at 12:40 PM, Chuck McCown <ch...@wbmfg.com> wrote: >>> >>>> This has been covered here before. I am considering buying something >>>> from my own company. Have Jenny run my personal card on her company square >>>> reader. >>>> >>>> Not sure if that violates any kind of AUP. Hate to get her merchant >>>> account shut down. It is a woman owned business with her owning more than >>>> half. I don’t technically work there. I am not on the payroll. >>>> >>>> How risky is this? >>>> >>> >>> >> >> >
