virtual office vs po box in 2019

Anonymous · ‎08-18-2019

Some people are saying po box work some say they dont smh can somebody please break this topic down into better terms

TheFIGuy · ‎08-18-2019

Until recently I used a Mailbox Collection Agency which caused A LOT of issues because it's flagged as a "CMRA" in USPS system. Before I begin let's break down the terms below:

CMRA = Commercial Mail Receiving Agency aka "UPS" Mailbox or "Joe's" Mailbox Company.

PO Box = USPS Mailbox that until recently was assigned a number and you can pickup your mail from USPS. Now USPS allows you to choose a street address associated with USPS. PO Boxes are still flagged as "CMRA".

Virtual Mailbox = Can be Out of State or In State mailbox that scans your mail and sends emails etc. Usually for people who are traveling a lot and cannot check a brick and mortar mailbox.

Now, ALL of the above options are CMRA's just a different variation of how your receive your mail. ALL of the above are supplemental options and should not be used as your "home" address stated by the 9/11 patriot act.

In past years it was easier to use CMRA's to be used as permanent address if you move a lot and wanna have (1) location for mail and taxes etc. to be mailed. Now, it's becoming increasingly harder/impossible to use CMRA's due to USPS systems flagging these addresses and causing possible FRAUD alerts on your accounts.

AMEX, BofA, NFCU, BECU to name of few financial institution have alerted members of this address and asked to change the address to a home address. Personally AMEX, NFCU, BECU have noticed me using a CMRA and almost closed my account "BECU" & "AMEX" cough cough lol.

My personal recommendation is to use a friends house or family members and stay away from using a CMRA for CC or Tax purposes. I do know that the IRS and CADMV did not have ANY issues with me using my CMRA but I changed it anyways.

CMRA's should be used for packages and supplemental mail that you do not want to be stolen. Not for "home address" purposes.

YEMV and hopefully I explained well enough.

Anonymous · ‎08-18-2019

Great Explanation!

TheFIGuy · ‎08-18-2019

Thank you, I see this question a lot and after I researched the topic I found it's just not really possible anymore. If you don't get caught now you will eventually and it could cause your accounts to be flagged as fraud and shutdown. It's just not worth it period.

Anonymous · ‎08-18-2019

So let me get this right virtual office dont work anymore i have to have a real business address smh its a small business

Anonymous · ‎08-18-2019

@Anonymous wrote:
So let me get this right virtual office dont work anymore i have to have a real business address smh its a small business

If yours is a home based small business, you should use your home address before using a spoofed one. There's too much fraud these days for banks to take chances.

Anonymous · ‎08-19-2019

@Anonymous wrote:
So let me get this right virtual office dont work anymore i have to have a real business address smh its a small business

You are using the term virtual address too broadly.

All the services listed above is 100% correct and no no in 2019.

But there is another kind of virtual address. The virtual office service offered by companies like Regus and Davinci. The are actual office buildings and they rent offices to clients. They also at the same location rent virtual offices. I use one of these services. This will work in 95% or cases in 2019.

These companies are aggressive in making sure their offices are not flagged as CMRA. They cost more (about $50-$75 per month vs. $20 for a ups store type box)

One thing also, if you are running a business and you don’t need credit, a ups store is fine. It’s only an issue for banking and credit.

Above I said 95% because some banks will investigate on their own even if it’s not flagged. That happening to me with Wells Fargo. Funny thing is I was warned by someone on myFICO so I was prepared. I use a virtual office run by a local company. They offer shared office space services to the largest tech companies in the world. But at the same location they offer mail receiving. This is the perfect setup in 2019 and all my creditors excepted the address. I went to open a Wells Fargo business checking and the banker googled the location, several business came up with suite numbers and he was like “no”. “They told us these are the signs of a CMRA you can’t use this address”. I pointed to the screen and said “call them”. He did and they explained to him what a co-working space is and it was ok.

I don’t have Amazon business account yet but I know Synch/Amazon will flag a credit app using a virtual address. The wording says something like “our system has determined you are using a CMRA. You application like take longer to process we don’t have a timeline when we will process you can change the address to proceed”. Something like that. Capital One has a similar message.

The way I look at it is, long term I need to keep my home address off my business report so if any creditor does not accept my virtual address I just won’t do business with them rather than put my home address as the business address.

Anonymous · ‎08-19-2019

If you want anything to do with Wells Fargo in the future then both of these options are worthless to you. They will initially deny you for using a VO/PO then, on your persistence, they will step the nastiness up a notch and start belittling you because you couldn't afford a real business address. If you push them far enough, they will tell you that they have a branch X miles from your business location, and that they will send a bank employee over to checkout your business.

Apart from Wells Fargo, most banks are ok with a VO setup. PO, not so much.

Anonymous · ‎08-19-2019

Thank you for the information and also with a virtual office will my mail be forwarded to my home address

Anonymous · ‎08-19-2019

@Anonymous wrote:
Thank you for the information and also with a virtual office will my mail be forwarded to my home address

yes, that's usually an option for an extra fee. They usually have different service levels and that feature is usually in the more expensive service level. Not much more, but still.