Simon Mall is sending emails to some customers who’ve placed online Visa gift card orders advising them that due to Anti-Money Laundering laws, they’ll need to make an in-mall gift card purchase before they can continue purchasing Visa gift cards online.
Here’s the full text of the message they’re sending:
Simon Bulk Buyer Account Holders:
Due to Regulatory Compliance stipulations with large online financial product purchases, all online Bulk Buyers will now be required to make a minimum of one live in-person purchase transaction at a Simon Center. The in-person purchase transaction is required for live ID verification and a completed/signed Consumer Order Form as part of the federal Anti Money Laundering (AML) program.
For Account Holders that have not made a live on-mall transaction in the past 12 months, your account will be temporarily suspended until you have had the opportunity to do so. A Simon Giftcard Business Manager will be assigned to assist you with questions and the required purchase, and will be in contact this week. Below are the instructions to facilitate the purchase:
Live In-Person Purchase Transaction:
- Locate a Simon center near you from simon.com
- Select a date and time most convenient for you.
- Call the Mall Office to ensure your appointment can be accommodated, and that the selling center will be open to avoid an unnecessary trip. Phone numbers are listed with the mall addresses.
- Make a minimum purchase of $3K, maximum of $25K – higher limits available on-mall.
- Notify your Simon Giftcard Business Manager once you have made the transaction to reopen your online account.
This won’t be an issue for some people, but for those located in areas without a Simon Mall nearby, it could prove to be far more problematic. With GiftCards.com and GiftCardMall reducing the cashback you can earn through shopping portals, it’s becoming increasingly hard to order Visa gift cards online without incurring higher fees that reduce how worthwhile it is buying them in the first place.