Okay.... many people in this country elect to have the money they receive for their children's child support, made through their state family court agency and then through to different banks that offer VISA or Mastercard debit cards. This review is not made for the ridiculous fee's that Chase charges it's family court customers. Fee's such as the $1.00 to check ones balance at their ATM. Or the fee's charged to withdraw your children's money from a ATM machine. So why am I spending my time to write of a complaint? Well....... this complaint is about how they insidiously steal money directly from the mouths of our children. The whole reason we have the bank debit card, is about our children getting what they need ASAP. But Chase Bank has found ANOTHER way to slither our money away from us. One that absolutely will infuriate most card holders. It's done when you go to the ATM on a particular day following a routine schedule when you withdraw your child's funds. Now.... most of us get our child supports payments every two weeks. So if your ex is paid at their workplace lets say on a Thursday, then the family court will have your funds withdrawn from ex's paycheck the following day. In this case, that's Friday. Now.... the state must turn around, and on Monday of the following week, they send those funds to Chase. So that on the next business day, Tuesday of most every given support payment period, you withdraw your cash from an ATM. In fact with CHASE, you can withdraw funds by ATM 2 times a pay period, without any fee's. More than 2, and they charge $1 each time. That's not what my complaint is. Here is where they steal.......Now on any given second Tuesday, you go get your money from an ATM. It's like clock work. But all of a sudden you go on that Tuesday, and ask the ATM machine to give you your child's funds, let's say it's $150. But all of a sudden, the machine tells you that funds are NOT available. Instantly, Chase charges you $1 each time this happens. But you ask, how is this stealing? Well folks.....CHASE absolutely does have your money on that Tuesday, but they they choose not to credit your account. CHASE ABSOLUTELY knows most folks just routinely go to the ATM and push WITHDRAW and the amount EACH WEEK on the SAME DAY. PARENTS absolutely expect that money to come out, but it doesn't. This happened to me ONCE, and ever since, I ALWAYS check online or by phone, for the balance available before I even head out to the bank. By checking, I see that this has occurs once every few weeks. I didn't record each time, But I'm sure I could go back and check my account and find out! But fortunately for me, and for you, my second cousin works at CHASE in operations as an analysts. I asked him what is the procedure there. Because most weeks the funds are there each time on the same day. And then out of the blue, it's not. I asked what's up. He told me to give him a call when he leaves work. I called him and was very surprised by what he told me. He said that the bank, like every other bank, absolutely makes money on cash reserves that sit waiting to be disbursed to accounts. It also think tanks ideas to generate revenue for the bank. He said the banks know that most people don't call or check their balances every pay period, because the money, in most instances always has passed through their clearinghouses, and is waiting for their withdrawal on that same given day each pay period. So when that person goes to the bank, and attempts to withdraw those funds, there is not sufficient money to cover their request. So it's denied, and CHASE then charges them $1. Now most people don't think or care about it. It's just a buck they figure. They just go the following day, and vaala.... their money is there. WELL...... imagine the tens of thousands of these accounts, now figure CHASE systematically pulling this cash flow instrument stunt, and let's say only 5,000 people try but get no money on that same day they always do. Now remember.... there are many different pay periods for people everywhere, but let's just say that 5,000 people a day attempt and fail to get their money. That's $25,000 a week Chase steals from our children. That's 1.3 million dollars per year just from this fee generating item. And I would think the actual folks who are charged this fee, is way !!!!!!! Now you say..... how can we be sure that the funds are passed correctly from workplace to state family courts and then to CHASE. Well folks.... it's all done like clockwork. In fact, once the court's order the payments garnished from your ex, and that first payment is made, the only thing that will offset or delay the passing of those funds to you, are holidays or a complete collapse of the banking clearinghouse system. Chase has your money at the same time each pay period unless a holiday offsets it, or their system fails. Or of course, if your ex quits his job, all will cease. But Folks......the bank's safeguard and transfer system do not fail !!! Someone sitting behind a nice big Mahogany desk in a private corner office, way up on the upper floors at corporate, systematically set orders in motion, and our kids pay the price !!!! So if you do nothing else about this, there are two things that will prevent them from stealing your child's money.
1. Call or go on line and check your balance EACH and EVERY time you think money has been deposited to your Child Support Visa/Mastercard
2. Cancel your card, and have the state deposit the funds directly to your CHECKING or SAVING ACCOUNT. Then you have no worries !
Ever wonder why the States are so eager for you to use a Visa or Mastercard - Child Support Care Card???
3 other families and I are thinking of a class action! Big business is too unchallenged !!!!
Reviewer is in unhappy mood. This person stated that there is a room for improvement of cheating on availability of deposit. Please immediately contact the author of this review to discuss "fee's and payment credit" of chase bank online banking. Chase Bank needs to offer any options to resolve the issue according to poster's claims.