Chase Bank — run by thieves
Take this as a warning!
Chase bank wants much more than to hold your money - this greedy, unprofessional company wants to steal your hard earned cash!
If you must bank with chase, be ready to pay ridiculous fees and charges, and to deal with an unprofessional team of individuals seriously lacking in customer service.
Incident 1: I accrued overdraft fees because I didn't realize that my debit card worked when I didn't have available funds in the account - also, I would find out later, balance inquiries are inaccurate.
After calling chase's 1-800 number, a gentlemen pointed out to me that that was not always the case, and it usually "depends on the vendor." he offered a one-time courtesy waive of the overdraft charge and recommended I use balance inquiries on my phone and computer.
Incident 2: after using balance inquiries, I only made purchases I knew I had money for according to those inquiries. When I had about $20 left, I stopped using my card for a few days. Then I checked my balance again, and it was negative! All these transactions came through on a day I didn't even use my card — worse, I was charged a $32 overdraft per individual transaction.
Yes, that means that if you use your card for 6 individual $1 transactions, you can be charged $192.00 overdraft fee!!!
When I pointed out that I was informed by a chase telephone banker to use balance inquiries to "stay on top of" what I had, and as a result accrued fees because I wasn't told that balance inquiries were usually inaccurate if you use your debit card frequently, I was told that "I should have used a transaction register," "you use your debit card, I don't use your card for you," and - the biggest surprise to me... When I asked...
"how is it worth it for me to stay with chase bank when I am being charged in fees as much as a I put in?"
The telephone banker responded,
Chase bank "is not for everybody."
I guess I don't make enough money to be part of your big-time bank.
After making three phone calls asking for someone, anyone to help, I finally spoke to the one decent person who seems to work there ("eduardo") who pointed out that chase can waive fees for transactions below $3.00! That alone saved me $74.00 — why did only the third person I spoke to inform me of this policy??
I have to support two people on a very in nyc, where the cost of living is quite high, and chase bank (In my opinion) *intentionally* mislead me into accruing more fees so they could make a profit off of my naivety. Never again.
Incident 3: I pay my fees and withdraw my latest paycheck, leading to a $0.00 balance and request to close my account as a result of all the fees I had accrued.
"sure, i'd be glad to help you with that, sir, although there is a $25.00 fee for closing your account within three months of opening it."
I almost shat a gold brick when he said that. Are you kidding me? You *must* be kidding me.
I called another three times and spoke to several other people to ensure that I would not be charged any additional fees.
Additional info: I spoke to 3 other people who have chase and are having the same problem, one of them a young girl in high school that I work with that didn't even understand what was going on!!
Chase bank is absolutely ruthless, and they *will* rob you if give them the chance. Just by opening an account, you have given them the opportunity to charge ridiculous fees.
I asked "how do you justify a $200.00 fee for $20.00 overdrawn?"
The tele-banker who told that chase "isn't for everyone" told me "it's like a loan, sir."
So I asked her, "what $20.00 loan accumulates $200.00 interest in a week and a half?"
Do not bank with chase!
If your lucky enough to live on the east coast, bank with commerce. Never charged me a fee greater than a $15.00 min. Balance fee — mind you, that was after a 1-year grace period of no fees. They also offered to waive the fee for an additional year if I close me account and reopen it.
Chase = thieves. Save yourself the frustration.