Chase Bank went from being a decent bank to one of the worst within the past few years.
Certain checks that are received weekly from local, reputable companies (who also bank with Chase) have always cleared the following day. Suddenly, they began holding them for 5-7 days, with no warning.
Usually, I had a high enough balance to cover anything that was spent on my debit cards, without considering the weekly deposits. However, I had one purchase that came in in the amount of $100.00, which was $5.00 short, without the $2500 in weekly deposits.
After doing business with Chase for 12 years, I would have expected a courtesy call or at least to be informed that they had begun "holding" the local checks that had always cleared right away.
Instead, I was charged a $35.00 service fee. Since I was totally unaware of the fee or that they decided to start holding the checks, until I received the "Overdraft" notice 7 days later, it "pyramided" to over $350 by the time I received the initial notice.
I was very irate and called my local branch and asked to speak to the Branch President, who had always been great to work with and a really nice guy. I was told that he had been transferred and was put through to the "new" Branch President. This woman was downright RUDE, cared nothing about the fact that I had 5 Business Accounts, as well as 2 Personal Checking and one Personal Savings Accounts.
My total average balance for all accounts combined over the past 5 years has been right around $25, 000, although sometimes lower, sometimes higher.
I was courteous and respectful when I asked why they had begun holding local checks from reputable companies who also banked with Chase. She immediately became rude and treated me as if I was some bum who had just tried to pass a forged check. I pointed out that I was a long-time loyal customer and felt she should not speak to me using the tone she was using.
Things only went downhill from there. I told her if Chase no longer wanted my business, I would go elsewhere. She said "Fine!" As I began to get angry, I told her that I intended to call the District Manager, who I knew casually, and relate the details of everything that had happened, including our conversation.
She laughed and said, "Sorry, he's no longer with Chase". She then said she had other things to do and basically hung up on me.
I did call the District Manager's Office and she was right, my friend was no longer with Chase. I spoke to the "new" District Managers secretary, who was very sympathetic and apologized profusely. At this point, I felt much better, thinking Chase had simply made a poor choice in choosing a new Branch President. The secretary promised that I would receive a call from the new District Manager within an hour or so.
Three days later I received the call. The "new" District Manager must have been the "new" Branch President's sister! Rude, condescending and totally unprofessional. Seems I was wasting her time complaining about something I did wrong.
That same afternoon, I went to my local branch and closed all of my accounts. I made certain that there were no outstanding checks or debit card purchases. Not once was I asked why I was closing all of my accounts, nor did anyone seem the least bit concerned. Instead, I was told that I would have to leave $1000 in one account, in case any additional checks came in. At this point, I totally blew up, pulled out my cell phone and told the teller that I was calling the State Banking Commission. (I just made that up...I wasn't really sure who I should call.)
After some very quick whispering between her and the new President, they decided I could have all my money.
End of story? No Way!
Three weeks later, they "discovered" that I owed some additional fees, in the amount of $55.00. When I received the letter stating I owed them money, I immediately called and asked what the fees were for. No one was able to tell me. I had no additional checks or debit purchases and they could not tell me why I was being charged.
I told them, too bad, you won't get it from me! I also was threatened, saying that I wouldn't be able to open a Bank Account anywhere for 7 years.
Too bad...I already opened my business accounts and personal accounts with another bank (Wells Fargo), so it did not really matter. To this day, I still receive "collection" calls from Chase. After two years, the $55.00 has grown to over $300. I haven't opened any of the mailed notices in several months and I really don't care.
Since the collection calls all come to my business phone system, I have programmed it so that any call from the famous "877-287-7303" Chase Collections number, go to a special "Broadcast Only" mailbox which informs them that "we do not accept calls from scam artists". Occasionally, I switch it to a "canned" this number is no longer in service message, complete with obnoxious tone at the beginning. Unfortunately, I know most of the calls are automated calls that demand that I call Chase immediately, but occasionally they make a "live" call.
Bottom Line: DO NOT EVEN THINK ABOUT DOING BUSINESS WITH CHASE. While they were once a decent Bank, things started to go downhill shortly after the merger with Bank One.