Go read this article about a yarn merchant shutdown by its credit card banker.
UNBELIEVEABLE.
For all the knitting stuff that I do, I don’t really read knitblogs, but Yarn Harlot is an occaisional favorite, and I’ve met Ms. McPhee. She’s quite nice and a good writer.
I will vouch for the brand of sock yarn, which bills itself as “SOCKS THAT ROCK”. They do. The colors are amazing and yes, I waited in line for an hour at Rhinebeck last fall for this yarn. It was worth it.
So without an investigation or allowing the hapless company to reply, the bank refused to do business with the Blue Moon Fiber Arts. Where’s the due diligence?
Weird. They’re sock knitters. Not terrorists.
What’s the personal finance thing in here? Nothing really. There would be if I was having my money credited back. I’m sure there is a nightmare waiting to happen for someone who loves this yarn.
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For a minute, I thought she was joking. I couldn’t believe that the bank did that. Kind of makes a person wonder what the banks are (and are not) paying attention to.
Yep, happened. I know that the banking laws make it so that banks have to report “suspicious” activity, but a 20 second Google search would have provided hundreds of knitblogs and yarn reviews raving about the company and their product (disclaimer – not affiliated except as a customer). Somebody did NOT do their due diligence!!
This one makes sence “One’s first step in wisdom is to kuesstion everything – and one’s last is to come to terms with everything.”