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Jpmorgan Chase / eorbitant overdraft f

1 United States Review updated:

I never was behind paying my bills, but I had to go onto Social Security Disability a few years ago, and that is the only income I have. I got a checking account at one major bank, and a year ago I switchd to Chase. In one year I have paid about $3000 on overdraft fees and though I tried to discus this issue with them several times, they have been cold and heartless. Obviously, when I have to pay these fees, I can't pay my bills, and I am more behind than ever.
Even if I am overdrawn by $5.00, I get charged $35.
I really hate the whole banking system, but I have no choice but to have an account. Though my story is not unusual, I feel like we are all victims, and I resent that they are "bailed out" but they won't give their clients one break.

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Comments

  • De
      19th of May, 2009
    0 Votes

    OMG i am having similar problems with Chase!!! My ex husband and I had a joint account, I thought my name was off. I opened my own acct at wamu which is now chase. ITs been 2 years. Well he overdrew his account and racked up Overdraft charges... not my problem right? well I noticed yesterday that my account was $500 negative??? I just got my check how could this be? Well they decided to take over $750 out of my checking to cover my ex's account... but it didn't cover his overdraft completley... he is still in the hole for $100 MEANWHILE... all my stuff came in (gas, food, atm, ) and they charged me $33 in overdraft FOR EVERYTHING that came in... which totals over $300 in overdraft charges... I tried to call customer service... but they refuse any assistance. My Ex is an honorable guy (thank God) he promised to pay me my $750 but what about the $300 in overdraft that Chase MADE me accrue? All they did was make my account in the negative and they racked up massive overdraft fees. I don't understand the reasoning for this. They made my account negative for no reason, it didn't make my ex's account square. I am going to call corporate but I seriously doubt they will help at all. And as soon as both accounts are in the Plus.. my ex promised to take my name off (chase said he has to close the account compeltely to get my name off) and I am changing to a credit union where chase will never get my money again... I hope Obama makes them pay for how they treat customers while they steal our money and take bailout money... jerks!

  • La
      28th of May, 2009
    0 Votes

    It's every person's responsibility to keep track of what they spend in there checking account. Your given a transaction register to keep a running balance in to that you know how much you have to spend. If you get a joint account with someone you have just as much right to the money in the account as they do, and just as much responsibility for any overdrafts. If you read the discloser booklet you come across something called "right of offset." This basically means that if an account goes negative the bank has the right to transfer as much money out of any other account the account holders may have in order to make that account negative. This prevents the bank from losing money on someone who has a positive balance in one account and spends it before fixing the negative on another. I recommend asking a teller for a list of all your accounts. There are also email alerts, text message alerts, mobile, telephone and online banking to help you balance your checkbook.

    Basically don't spend money you don't have, and be pro-active on checking all your accounts.

  • Jn
      6th of Jun, 2009
    0 Votes

    I feel bad for your situation, but lazulite is basically correct.

    Also, nearly every bank has a similar overdraft policy.

    But Chase has gone a step further.

    They've taken over our WaMu account, and we received a letter last week saying that they will now start charging a monthly fee (since our balance is below their enormous required minimum - well, enormous to my family).

    Of course, we decided to cancel our account and switch to one of the many other banks that offer free checking (we've already opened that new account and are very happy with it).

    But Chase had a plan for that also. Apparently a lot of people had the same plan - - so Chase will now penalize customers who try to close their accounts by taking a sizable percentage of the balance if you try to close your account.

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