Renton, Washington
Not resolved

I opened an account with Chase in August 2009 after it took over Washington Mutual branches, mainly because its overwhelming ads claiming good services. My personal experiences, however, proofed the contrary.

I have checking, CD, and investment accounts with Chase. The deposits I have made to my checking account were valued between $15K and $45K each, and were for my CD and investment purchases. Chase put long holding periods on these deposits every time.

When I questioned about the holding time for the first couple of times, the Chase reps stated that it was because I was a new customer and it would be shorter after my account tenure reaches 6 month. I accepted that explanation.

On March 5th, I made another deposit of $37K+ to my checking for transferring into my investment account. When I checked my accounts online on March 13th, the fund was still not available for use. I then called Chase customer service. This time, after being transferred from one department to another, I still couldn't get a reasonable explanation from anyone. All I got was that the "back offices" have their rules, and the fund would become available on March 16th – 12 days after the deposit.

When asked why it took so long, one rep said it really depended on how soon the checks could be cleared, making it sound like the check-issuing party could be the cause. I contacted the issuer of the check, OneWest, and was told the check was cleared on March 8th – so Chase was to keep my money all to itself for a whole 8 days, that is stealing!!!

This really shows that Chase doesn't care whether its customers might miss valuable investment opportunities or have any urgent needs - it's all about making money off its clients, how outrageous!!!

I strongly condemn Chase's unethical practices, and sincerely hope that this kind of dirty tricks can be put to a stop – please protect consumers' rights!!

Product or Service Mentioned: Chase Bank Checking Account.

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Chase bank does more then delay account deposits. they also wipe you out clean then make you pay overdraft fees and etc. then rack it up so high that you can't pay them back so they ruin your credit and make your life *** by harassing phone calls from collection agencies.


I forgot to note in my original post that the deposit was a CASHER'S CHECK. It supposed to be as good as cash, but Chase still managed to held the money all to itself for 8 days while I couldn't do anything with MY OWN $.

For all you readers out there, don't bother using casher's checks, since they apparently make no difference to Chase - same as regular checks...


Got a letter from Chase stating that my deposit was to be held for 8 days counting from the date that the letter was issued - to ensure fund would be available. The interesting part was, the letter issuing date was the same date that the check was cleared by Chase, which means Chase already had the money at that time...


They are also holding on to Tax Refunds after the IRS has said they deposited funds into bank account. It's very upsetting. They have excuses for holding a check from an employer, but what's their excuse when it's coming from the government?


Where I've known them to take a week or so to clear a large amount, I found my credit union took longer. When I asked my credit union why the wait time has actually increased, the reason I was given had to due with the all the fradulent documents being passed.

Time allows for possible recalls by transactions supporting the deposit. (hope this helps)


but you also have to take into account the fact that employee of the bank had lied to the costumer? Do we really want the people that are caretakers of our money to lie to us, and with hold what is ours?


well, it's kind of stealing if they use your $ but not allowing you to touch it. Chase having the $ for 8 days before releasing fund to the owner is not right. Maybe all banks do that, but still does not sound right.


forreal? umm when you're making a deposit of 37k+ im not surprised it would take about 10 business days or so.

it depends on the amount. a check of 100 bucks could be held for a business day for security purposes no matter how long you've been with them.

im not saying tis not annoying that a check doesnt clear after a day or 2 but you cant say that they're stealing money from you. every cent goes into your account whether it takes 10 minutes or 10 business days.