Vancouver, Washington
1.7K views
Not resolved
12 comments

JPMorgan Chase & Co. and their creative banking are nothing short of thieves. I had my checking account balanced down to the penny. I knew exactly what I needed in my account. I made a deposit in my account Monday, December 14, 2009, at 710pm. With the $42.00 in cash I put thru the ATM, my account balance showed I had a positive $132 balance. To my horror, today when I checked my account I was overdrawn by $125. This can't be…. I scanned my account to see what happened. Then I noticed the deposit was dated for December 15th. Because they dated it for the 15th and not the 14th, I received three $34.00 NSF fees.

After spending a good half hour on the phone, they refused to refund my money. They said the ATM deposits had to be in by 430pm. Ok so they close the ATM at 430pm…but give you a receipt that shows the money in your account, so you think all is ok. But the best part is, because the deposit wasn't in the machine by 430pm, they take the money out my account and then well after 7pm at night, they put thru a bunch of debits, so you get overdrawn. So because they refuse to recognize my deposit, I got charged $102 in NSF Fees.

Now I am in a snowball affect. Because of the NSF fees they charged, more stuff will go thru and I will get charged more NSF fees. I don't get paid again till Friday and by then I will owe the bank $300 plus. That's well over half my check.

Like many others out there, I lost my great paying job a few years ago and now make $20,000 less a year. I now live paycheck to paycheck just trying to stay ahead of the shut off notices and late fees. I was supposed to pay my mortgage out of this paycheck, but now I won't have the money to. What's ironic…..my mortgage company is the same bank, Chase Home Finance, whom I have been trying to get a loan modification done since May 2009.

I had bought Christmas presents on layaway at Kmart and am now forced to return the presents, just to see if I can get enough money together to stop the endless stream of NSF fees. What a great Christmas my six year old will have, when he has no presents and I have to tell him it's because the bank refuses to give someone a break.

Product or Service Mentioned: Chase Bank Banking Service.

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Anonymous
#1033590

I would have closed my account and disputed the debt. If you are persistent enough and relentless you will get what you want.

When I ask customer service reps "Why am I supposed to be an expert on the inner workings of a bank establishment?", they have no idea what to say. Stay strong!!

Anonymous
#581508

brcn: the reason is because if cash money or checks are deposited after the banking hours it is counted towards your balance the next day.. the working day is done before 4;30 pm.

and if you deposit money on the weekends it doesn't count until Monday towards your balance.

It stinks but just keep that in mind.

someone should have told you the rules before you got slammed with fees like that, but if you think about it there has to be some guidelines on what is business day is and when it ends. but withdrawals are deducted no matter what...

Anonymous
#284081

ING is the bank I use. Why becuase they do not charge overdraft fees.

Bill pay is free. ATM is free if you use the ones they tell you. Draw back? No branches so I keep a small checking account to just deposit checks into once and a while.

But i refuse to use it. Why- OVER DRAFT FEES.

The only fee ING charges is the interest on the amount overdrawn so the most Ihave paid for overdrawn is about 1.00. Look into ING.

Anonymous
#276370

So far we love chase have savings and checking. No problems.

Have had issues with other banks prior. Also we pay bills online ourselves.don't trust atomatic ***.and save recpts to double check balance

Anonymous
#273429

Bank of America settled out of court on a class action lawsuit in which they were doing the same thing chase is doing; boosting profits by charging the larger transactions first. This causes all the smaller transactions to get NFS fees instead of putting them the other way around and them only charging one nfs fee.

So, if your account has $500 hundred dollars in it and you have a $600 and 5 $1.00 transactions, they will take the $600 first, then charge you $34 for each of the five $1.00 transactions. That's a difference between $34 in fees and $170. Bank of America paid $35,000,000 for doing this.

I've contacted as lawyer and am waiting to hear back. If anyone wants in on the lawsuit, email me at jmartinez0427@yahoo.com

Anonymous
#273410

Chase Bank is a bunch of crooks. I'm on unemployment and barily surviving and these criminals take advantage of every chance they get to charge you fees.

If you overdraw $.01 they charge you $34.00; what's the interest rate on that? i'm tired of these pieces of ***

Anonymous
#99253

I set up for an auto draft of my mortgage payment from my Chase checking to my Chase mortgage. I scheduled the payment to come out on 12/28.

On 12/25 I discovered my account was overdrawn substantially. I noticed they deducted my mortgage payment on 12/24 and EVERYTHING I had already preauthorized on my Chase Debit Card was accessed a NSF fee. A total of 4 fees’s at $35.00 each were charged ($140). I called and asked WHY the money had been withdrawn early??

They said oh with the holiday we wanted to make sure it would arrive on time. So, you took it out prior to my authorization? Well we wanted to be sure it arrived on time. Mind you both my mortgage & checking are with CHASE.

So, Monday 12/28 I am down in the dumps that I was charged $140 in fee's but, after two hours of arguing with various people. I give up!! Until, my phone rings from 1-800-848-9380 who is it? Well it’s Chase Finance calling to say where is your mortgage payment???

I said well the bank assured me it was delivered to you; in fact they took it out a day EARLY to make sure you would get it on time. Now of course this person doesn’t believe me!!! So, he tells me unless the payment is posted TODAY I will receive a late payment from them too. Bottom line, the mortgage payment arrived LATE 12/29 it posted and I got a fee from them.

So, recap they took my payment out EARLY so it would arrive on time. This caused my account to overdraft, charged me $140.00 and then I got a fee because even though it was taken out EARLY the payment was still late & chase finance charged me a late fee. So total $164.89 in fee's from Chase for helping ensure my mortgage payment arrived on time.

Thanks Chase, not bad enough I pay $500.00 each month in interest on a mortgage! God I miss TCF Bank!!!

Anonymous
#99252

I set up for an auto draft of my mortgage payment from my Chase checking to my Chase mortgage. I scheduled the payment to come out on 12/28.

On 12/25 I discovered my account was overdrawn substantially. I noticed they deducted my mortgage payment on 12/24 and EVERYTHING I had already preauthorized on my Chase Debit Card was accessed a NSF fee. A total of 4 fees’s at $35.00 each were charged ($140). I called and asked WHY the money had been withdrawn early??

They said oh with the holiday we wanted to make sure it would arrive on time. So, you took it out prior to my authorization? Well we wanted to be sure it arrived on time. Mind you both my mortgage & checking are with CHASE.

So, Monday 12/28 I am down in the dumps that I was charged $140 in fee's but, after two hours of arguing with various people. I give up!! Until, my phone rings from 1-800-848-9380 who is it? Well it’s Chase Finance calling to say where is your mortgage payment???

I said well the bank assured me it was delivered to you; in fact they took it out a day EARLY to make sure you would get it on time. Now of course this person doesn’t believe me!!! So, he tells me unless the payment is posted TODAY I will receive a late payment from them too. Bottom line, the mortgage payment arrived LATE 12/29 it posted and I got a fee from them.

So, recap they took my payment out EARLY so it would arrive on time. This caused my account to overdraft, charged me $140.00 and then I got a fee because even though it was taken out EARLY the payment was still late & chase finance charged me a late fee. So total $164.89 in fee's from Chase for helping ensure my mortgage payment arrived on time.

Thanks Chase, not bad enough I pay $500.00 each month in interest on a mortgage! God I miss TCF Bank!!!

Anonymous
#98463

Sorry GBM, but your advice is awful. Dealing with loading and fees for a pre-paid debit card would cause a whole other set of headaches.

IMO, If your bank statement SAYS there is a positive balance, then there should REALLY BE a positive balance.

Chase's NSF charges are absolutely absurd. I empathize with anyone who has ever had to deal with them on this before.

Anonymous
#96926

I am so sorry to read about your situation. I am looking for facts on Chase improper banking practices and who governs them.

One such incident that I have been faced with is that on 11/5, I closed this account which was a WAMU account because I do not believe that Chase has any consumer protection policies. I zero out my account, rerouted drafts, ets. Chase opened my account back up without my knowledge, posted their very own leisure rewards charges, and subsequent overdraft fees. Are they kidding me?

So no matter what, they are going to keep an account that I closed open. This is a repeated incident as when they bought out Bank One in 2005 a allowed fradulent LA Fitness charges to hit my account repeatedly.

Sometime 3 times in one day, 3 days in a row. Can you imagine the 33 dollars times 9 for two months in a row.

Anonymous
#96070

Unfortunately, it's not "creative" at all: You were late on their "cut-off" time (when they collect and note transactions for "proofing"--checking transactions out at night before readjusting balances). You need to know their "cut-off" time and the consequences of missing it.

To avoid this, you may consider getting a prepaid debit card and use it instead of your bank's card--these don't allow overdrafts (except in certain rare transactions). You'll likely pay high fees to "load" money and have to wait for that with clerks at relevant retail stores (they often are busy with something else). It may be difficult to "swipe at the pump" at gas stations, too. (You may have to go inside and make a prepaid transaction for a set amount--any overpayment should be automatically refunded to your card).

:sigh

Anonymous
#95980

:( I can relate to this story, its not just Chase pulling this type of underhanded banking, Wells Fargo pulled the same routine on me a few years ago. The ATM will give you a positive balance, you will be able to use your debit card based on that balance, then they retroactively hit you with NSF charges, because they will claim that the deposit doesn't clear for the next day.

And the worst part about it is that you can't do anything about it because they hold your money. Its not like they have to bill you for NSF charges, they help themselves directly out of your account.

This is where we need some immediate banking reform! If enough defrauded consumers write to their congresspersons and state attorneys general,this practice comes out of the shadows and sees the light of day. Thats the first step to getting some change.