"Issues" with Chase bank..Opinions?

Cuso

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Ok, so I decided to open up a regular chekings account with Chase. Everything went smooth until I tried to deposit a couple thousand dollars check from my wife's account back in P.R. .

The first try, the bank back in PR denied cashing the check because it was not endorsed and was made to cash, cool I got payments bounced and fees imposed. I explained the situation to the branch manager and he was kind enough to remove the fees and advised me to talk to the other bank about it. My wife calls her bank and they told her to make the check in my name and to endorse it and put the acc. number on the back. Done.

I try to re-deposit the check and they put most of the amount on hold..cool. Couple days latter I try to put gas on my car..denied. Try to buy some groceries..denied. Went to the ATM...denied. Log onto my acc to see whats up , check is still on hold but my other funds are fine. Decided to stop by the local Chase branch, they tell me my account has been closed because the last check bounced...:scowl: Right there I call my wife , and she calls her bank. Her bank tells her the check passed with flying colors and the funds where withdrawn from the acc...:scowl::scowl: I call Chase again and they tell me the same story, check returned because of insufficient funds.:scowl::scowl::scowl: Now my temperature starts to rise. I tell the lady on the other side of the phone to get in contact with the issuing bank to verify if the funds where actually withdrawn...she puts me on hold , then tells me there's nothing she can do because the account has been deemed for closure and that they will be issuing me a check in 14 days!! for whatever there was left in the acc... This account was linked to my Paypal so you can guess all hell broke loose.

Anyone in banking care to share thoughts?
 

jeffb

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I am not in Banking....however, a local Bank that I have dealt with since the early 1970's was sold several times to larger Banks and finally merged with Chase.

I first had an issue when I sold a car and they had the title and was treated very rudely by a young man, when I suggested that the title was required within a certain time frame.

I visited the Bank often for Banking purposes and the tellers were rude to to others and the lines long, as they are understaffed. Apparently they want you to use ATM, as they charge for everything. My sons started College (now 5 years ago) and were given "student accounts", yet charged fees often and whenever possible. Statements were also not always correct and needed personal attention at the Branch.

My neighbor was a Branch Manager and moved from Chase to another Bank and stated that Chase hired people with Retail (not Bank) experience to staff. (New Paradigm)

I was called and asked repeatedly to have a meeting to evaluate my finances (read "sell me something"...loans,mortgages, investments, etc).

At one time, I asked for help to potentially re-finance a mortgage, however the Mortgage Loan "officer" was responsible for numerous Branches, could not accommodate any reasonable request for appointment and was extremely arrogant.

The "last straw", was when they continued to withdraw fee's from my youngest Son's account in error and certainly were not Customer friendly regarding same.

I moved my account (my son's did, too) to a Local Bank and am much more satisfied.....I will try not to do business with Chase under ANY circumstance.

Just my experience.

jeffb
 

flashfan

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I'm not in banking either, and don't have a "regular" bank account with Chase, but did have a credit card with them. I don't know if the credit card is directly related to the company's banking services (I think some banks may "outsource" their credit cards these days).

Anyway, here's my story.

My Chase credit card is probably the first major credit card I had, going back many, many years. It was my primary card at one time and was used fairly regularly. Then about six years ago, I picked up a new card from a different financial institution, and set the Chase card aside for emergencies only. I continued to receive new Chase cards before they expired every couple of years or so--it was a fee-free account.

Early this year, I was looking through my files and noticed that my Chase card had just expired the month before, and I had not received a new card. Fearing identity theft and/or that someone had intercepted my mail, I called Chase, only to learn that they had cancelled my card due to inactivity. No advance notice, nothing.

I proceeded to ask if they could reinstate my card. I guess I'm weird, but I valued having been a "Customer since..." as embossed on the card. With a 20+ year history, and with good credit, I was stunned when Chase refused. Even the rep I spoke to (who was very pleasant and polite), sounded surprised when the card couldn't be reactivated. She put me on hold for some time, to check with a supervisor. No dice.

I realize that there have been a lot of changes in the banking industry due to the mortgage meltdown and poor economy, but this really shocked me. I also realize that I am likely considered a "bad" customer because I have not generated income for Chase for an extended period of time. But if Chase had had the courtesy to send me a short notice that I had to use the card or lose it, I'd have used it!

I followed up with a simple snail mail to Chase (yes it was that important to me), asking for reinstatement/re-consideration of my account. I did not want a new card, only reinstatement. My letter was ignored.

Now here's the irony. Maybe about a month later, I receive in the mail, a generic "pre-approved" letter for a new credit card. Guess where that letter went...?! So yeah, :thumbsdow to Chase.
 
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ElectronGuru

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I proceeded to ask if they could reinstate my card. I guess I'm weird, but I valued having been a "Customer since..." as embossed on the card. With a 20+ year history, and with good credit, I was stunned when Chase refused. Even the rep I spoke to (who was very pleasant and polite), sounded surprised when the card couldn't be reactivated. She put me on hold for some time, to check with a supervisor. No dice.

I realize that there have been a lot of changes in the banking industry due to the mortgage meltdown and poor economy, but this really shocked me. I also realize that I am likely considered a "bad" customer because I have not generated income for Chase for an extended period of time.

You hit it exactly right. Their favorite customers are those who carry a balance and pay the minimum each month. Their least favorite are those who pay off their balance each month, only slightly above those who default. In their balance sheet world, you were costing more than you were paying. How else are they going to justify their bonuses?
 

asdalton

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Their least favorite are those who pay off their balance each month, only slightly above those who default.

I doubt that it's "only slightly." People who default often end up sticking the bank for for tens of thousands of dollars. And the card-issuing bank gets merchant fees for each transaction, regardless of whether the cardholder carries a balance.
 

Cuso

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So I went to the bank again, because the so called "bounced check" CLEARED! Yes it cleared and the funds are in my account. Yet they are treating me has a fraudulent customer. They don't want to unfreeze my account and they still want to close it, even though the money is there. They won't even acknowledge that the money was paid and the check cleared. They want me to call my wife's bank and have the issue a letter authorizing payment for that check, this is for money that is already in their possesion. What maddens me is that they froze the account on grounds of check without funds, clearly this check had funds, and now I'm down $3000 and no way of using them until they issue me a check on the 14 of this month ....nice.:thumbsdow
 

KD7EIR

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Their name says it all - you have to "Chase" your money around if you give it to them.

I, too, have had much better luck with local credit unions.
 

Cuso

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Yep, can't complain about the credit union I had back in P.R. . Gonna have to find me one here in F.L.....
 

KD5XB

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So I went to the bank again, because the so called "bounced check" CLEARED! Yes it cleared and the funds are in my account. Yet they are treating me has a fraudulent customer. They don't want to unfreeze my account and they still want to close it, even though the money is there. They won't even acknowledge that the money was paid and the check cleared. They want me to call my wife's bank and have the issue a letter authorizing payment for that check, this is for money that is already in their possesion. What maddens me is that they froze the account on grounds of check without funds, clearly this check had funds, and now I'm down $3000 and no way of using them until they issue me a check on the 14 of this month ....nice.:thumbsdow

Time for an attorney.

Chase stinks!
 

Cuso

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UPDATE: OK, so I finally got a hold of the branch's manager today ( apparently harder to find than Waldo). I explain the situation and he feel my pain. This is the same man that reversed the fees on the other check. He calls central and had them release the funds and reopen the acc, effective monday. Kudos to Mr. Kotasek from Winter Haven's branch of Chase :rock:. I'm still switching to another bank just in case, but I'll leave this sucker open because of the Paypal. Talking to the lackies lead you nowhere, you have to got straight to the manager in cases like this. Kotasek tells me , my PR bank denied payment on the second check, and in that same day they release the funds, that's why Chase freezes my acc, but the check still gets paid.... At least I have my money now...:cool:
 

blasterman

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Dude, I had the same thing happen with me at Chase a couple years ago. They bounced a payroll check because some drone didn't like my endorsement on the back causing checks to bounce - over the christmas holiday.

Calling on the phone got no-where. Stopping by a branch and talking to a manager resolved the issue, returned the fees, and got an apology immediatley.

If you have and account with money in it, or maintain a positive balance most of the time they will typically kiss your a-- to resolve the issue. The fees are just a bonus to them. They don't lose money if they waive them. However, customers closing positive accounts are VERY bad for them.

I can guarantee you that most larger banks will operate in a similiar fashion. Smaller, local banks and credit unions will likely avoid this problem because their smaller accounts allow better judgement calls.
 

HarryN

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Just an FYI - always keep your main bank account separate from the one you use for accepting payments, such as credit cards and paypal. This will actually help a lot in avoiding strange situations.
 
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