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Jpmorgan Chase / excessive bank fees

1 Milan, MI, United States Review updated:
Contact information:
Phone: 734-995-8070

The nature of this complaint is the banks unwillingness to work with me and their excessive bank fees of $600.00. Chase bank was responsible for creating over half these fees. I have several accounts with Chase and when I lost my job and depleted my savings my checking account was overdraft by $24.43. Automatic payment amounts kept trying to debit my account for $1.19. My account went from -$24.00 to -$496.00 with all the fees. I talked to Chase to freeze my account or close it which the refused to do because it had a negative balance. I was told by the people at Chase as soon as I made a deposit into my checking account they would help me resolve the fees. I had another checking and savings account with WAMU which is now Chase. When I received my first paycheck, after being unemployed for 8 months, I deposited it in my WAMU account. I was arranging to make a deposit in the Chase account. However, before I could make the deposit with Chase, they automatically withdrew the $496.00 out of my WAMU account. I was unaware of this unauthorized withdrawal and had made other payment transactions on this account. The transactions that I made on my WAMU account were authorized by WAMU and debited from my account. However, due to the unauthorized withdrawal, made by chase, my WAMU account was already depleted and became overdrawn with these transactions. I went to the Milan Branch of Chase and was told there was nothing they could do for me. I do not think this is right. I understand the banks right to charge overdraft fees, but $600.00 worth is not justifiable. I have run out of resources to contact. I would officially like to make a citizens complaint.

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Comments

  • Dl
      22nd of Aug, 2009
    0 Votes

    What is a citizens complaint?

  • Mi
      2nd of Oct, 2009
    0 Votes

    A similar thing happened to me this morning. I closed an account with Chase in 2008 due to highly excessive overdraft fees and refused to pay them. However I did cover what i owed Chase for the debits and checks which caused the overdrafts.
    Anyway, this morning Chase had completely emptied my WAMU account of a $1500 retirement annuity which had direct-deposited yesterday. It's a policy called: "Right to Offset" which empowers banks to tap an account for any debt which may be owed them.

    But to completely deplete a persons account down to zero without warning or prior notice??? This is wrong and National Banks should be forced to comply with garnishment practices and other policies regarding Fair Debt Collection. It is the Comptroller Of The Currency (OCC) which regulates the National Banks and that federal agency refuses to do anything to inhibit banks from completely cleaning out the accounts of their depositors for outstanding debts.

    Our leaders in Washington DC need to take a closer look at how banks are causing financial distress to the consumers through their unfair and excessive overdraft and collection policies.

  • Za
      6th of Jan, 2010
    0 Votes

    I just closed my Chase account today after the last straw; they charged me $280.00 in 'overdraft fees' even though my account wasn't overdrawn. The 'explanation' was even more baffling. Despite having accepted my payroll checks for over three years, they recently and completely inexplicably decided to hold a partial amount from my check for well over a week, and then -without warning me, as my current balance showed the full deposit amount- charged me EIGHT overdraft fees of $35.00 each based on my being 'overdrawn' by the amount they conveniently withheld from my check. Amazingly, my statements show eight overdraft fees on POSITIVE balances.

    When I asked why the amount was withheld, the managers I spoke to couldn't give me a real reason, only that "sometimes the system will flag a transaction and put a check on hold until it's cleared". When I asked why on earth my payroll check would be 'flagged' when I've been depositing the same checks for over 3 years with no problem, and other checks from the same source were deposited at the same time, they couldn't give any reason or answer. When I asked why just part of my payroll check would be held, the answer was even more ridiculous- the manager told me that because the check was from a known source, it was partially accepted on 'good faith'. HUH!? So why not the entire amount? No answer, no reason, no explanation other than 'it was flagged' for some reason.

    They quickly credited my account by the missing amount from the check- only today by the way, after a full week, and only because I complained- but I was told they could only refund me two of the eight overdraft amounts, and -the clincher- that they were being 'kind' to return to me $70 of my money while they kept $210 based on fees they'd manufactured out of THIN AIR. Normally, I was told, they wouldn't return any of it.

    I immediately closed my account, as I've realized and want to point out to anyone else who may read this- money kept in a Chase banking account IS NOT SAFE! If they can magically withhold part of my paycheck- the same checks from the same company that I've been putting in their bank like clockwork for three years- then charge me 'overdraft' fees based on amounts the bank HAS, but has simply chosen to put on 'hold'- not tell me about it, then not offer a reasonable explanation why the hold was placed on my check for over a week- then basically they have created for themselves a LICENSE TO STEAL MY MONEY. That's the long and short of it.

    Beware if you have a Chase banking account- the kind of bank robber you need to worry about taking your money doesn't need a skimask and a gun, he or she simply needs to WORK FOR THE BANK.

    I've taken my money out of Chase and will never willingly entrust them with a dime ever again if I can help it.

  • No
      11th of Feb, 2010
    0 Votes

    I don't know who all of you are complaining to ...I just sent a complaint to the Federal Reserve Board and OCC. Local Tv Stations "can't investigate" due to a "Privacy law"
    But usingFacebook and MySpace BLOGS mayhelp and I always open my BIG mouth to others. Spread the word and It will be heard< I hope.

  • Am
      26th of Apr, 2010
    0 Votes

    Watch out for Chase! 4/26/2010

    I just got fees totaling $24 for to many withdrawls from my savings account. No warning they just started doing it this statement cycle. They said it's gov. required, has been since last year. At the same time they paid a check for 30.00 more than it should have been. If I had not caught this in time a check or two would have bounced. More fees!

    The Gov. requires banks to keep a 10% cash reserve on checking accounts but not savings accounts. This "no more than so many withdrawls" on a savings account fee is due to this requirement. The gov. figures everyone does their day to day banking from a checking account.

    What is up, Why is the gov. requiring this. They are forcing banks to make depositers keep their money in checking accounts. Thus forcing banks to keep more money on hand. Everybody this is a wake up call! Banks have loaned out more money to more fools than they should have. Now the gov. is making them keep money on hand and not loan it all out. This is in-case there is a run on the banks. Why not require this on all accounts. I would think most money kept in banks would be in savings accounts. If I think a bank is going to fail I will clean out the savings account and leave money in the checking account to covers checks written. I did this when WA MU went under. I cleaned out two savings accounts.

    The banks could care less, they have found another way to make money - FEES!

    Your money is not safe in a checking account. To many crooks, check washers and such. Debit cards are not safe but the banks want you to use them tied to your checking account. Wait till someone frauds your debit card and cleans out your checking account instantly. All your checks will bounce and you will get fees from your bank and all those who you wrote checks to. Good luck trying to get that straightened out!

    Online line banking is not safe either. Any bank will tell you this is not true, because they want you to bank on line. It saves them money. Next time a bank employee tells you to use on-line banking let them know that on-line banking requires the bank to have less employees and they may be the next to get laid off. I have tried to explain this many times but I give up! Go ahead and bank on line, and while your at it use your Visa card on line to. "Oh but it is secure and encripted" Then why do they need to keep coming up with better encription software? Because it is broken as soon as it hits the net.

    I only write checks to pay monthly bills. Not for food, gas, entertainment or anything else. Pay cash or use a Visa card if you have to. At least there is some protection with it. I have started to use prepaid Visa cards. Not the ones that are linked to one of your accounts. The kind that you do not have to even provide your name.

    I had my pay check direct deposited to my savings account. The only way to access it was with an ATM card, over the phone automated network or in person. I did transfers to my checking account using the phone automated system ( which is fairly secure, only a few restricted access points to that kind of system. Not you entire neighborhood and anyone who knows how to hack the internet.) with the amount to cover montly bills and no more. The checks clear in 2 to 3 days now. The rest of the time my checking account has a zero ballance. I have declined overdraft protection. This way if someone tries to fraud a check most of the time there will be no funds to cover it. As I needed money during the month I would use my ATM card tied to my savings account. I have closed the savings account. Now I have my paycheck direct deposited to my checking account, On payday I will walk into the bank and withdraw all but the amount to cover monthly bills. Now the bank will not have the use of my money throughout the month.

    Savings account interest is zero, Checking accounts are not safe. Time to use that mattress again. Do invest in a home security system and a big mean dog though.

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