“We believe you should not be selling guns and parts on the internet.”
American Spirit Arms has, like most gun-related businesses, been doing a tremendous amount of commerce of late.
Bank of America took notice when American Spirit’s card processing spiked 500%. Someone there didn’t like the fact that American Spirit was selling guns on the internet and froze their deposits.
Here’s the word from the horse’s mouth.
My name is Joe Sirochman owner of American Spirit Arms and I wanted to share my recent experience with Bank of America .(which we have been doing business with for over 10 years)…. Everyone is familiar with the latest increase in guns sales , dealers selling out of inventory , Manufacturers back logged for months , large revenue all generated in the last two weeks …. American Spirit Arms is no exception to the overwhelming demand . What we have experienced is that our web site orders have jumped 500 % causing our web site E commerce processing larger Deposits to BANK OF AMERICA ..Well, this through up a huge RED Flag with Bank of America . So they decided to hold the deposits for further review , meaning that the orders/payments that were coming in through the web ,( being paid by the customer and that were shipped out by American Spirit Arms ),the BANK was keeping (UNDER REVIEW )..as you could imagine this made me furious…After countless hours on the phone with BANK OF AMERICA I finally got a Manager in the right department that told me the reason that the deposits were on hold for FURTHER REVIEW …HER EXACT WORDS WERE …
..” WE BELIEVE YOU SHOULD NOT BE SELLING GUNS and PARTS ON THE INTERNET “
Bank of America is the same bunch of “too big to fail” bankers that dropped McMillan stocks last summer.
Don’t do business with Bank of America.