LIVINGSTON, NEW JERSEY -- I have been a customer of Chase for approximately 30 years. For the last 15 years I have been taking loans on the low balance transfer offers that have been offered by the various banks. This has helped with building our house without having the whole amount put on a home loan.
As long as the rate and balance transfer fee was good, I took advantage of that offer. As soon as I paid off one balance or had a low balance, Chase was marketing furiously with the next offer and if I did not take advantage of that offer, the rates and fees would get better. Chase continuously kept on increasing the credit line without me ever requesting the increase. At the moment the credit line is $23,000.
Thankfully I never took out a loan even close to that amount. My current rate is 3.99% which was to have been for the life of the loan as long as I paid on time, which I have always paid on time. Now Chase decides that these offers are not a good business decision on their part, and since they cannot raise the rates, they have found a way around this for all the customers who took advantage of these offers.
In the past year Chase has changed the due dates, which after looking at comments online from other people. It seems that this was Chase's way of trying to have the customers default on these loans by moving up the due dates since Chase knew these customers were not making purchases on these accounts and were paying monthly and mostly on the same date.
For the people that this scheme did not work, Chase is now going to charge a $10 monthly maintenance fee and increase the minimum payment from 2% to 5%. I am interested in paying off my loan and personally I do not have a problem with the 5% minimum payment. I cannot wait to pay off this loan, which will be in about a year. However, I have a huge problem with the $10 monthly maintenance fee which is used for accounts that are for people who have no credit or bad credit.
In addition, in regard to the increase to the 5% minimum payment, I have a huge problem with a bank that would do this to customers who took advantage of these offers when Chase kept sending checks and information regarding how other balances should be paid off, your car loan, your school loan, your other credit cards, take a vacation, buy things that you need, the check can be made payable in your name and you may use it any way that you like and constantly increasing the credit limit and making that credit limit available for the low interest balance transfer offer with the low rate offer being for the life of the loan as long as you pay your payment on time.
In addition, there is no credit card fee and the minimum was set at 2% of the balance. Now, Chase has decided to make a business decision increasing the 2% minimum payment to 5% at a time when the country is in a huge financial crisis - people are losing their jobs, the jobs that people have are not secure. This was a loan that was supposed to be set and as long as you paid on time, than you did not have anything to worry about, or so everyone thought.
Chase obviously is a very "ME" company and does not care about its customers or the country in which it does business. This decision will force people who otherwise would have been able to pay their minimum payments to default, further increasing the crisis. Of course, Chase is very kind to offer an alternative by allowing you to keep the 2% minimum payment if you allow Chase to increase the rate to 7.99% set for two years and Chase will also be kind and also waive the $10 monthly maintenance fee.
After the two years, the rate will go to the purchase rate. This also hugely affects the minimum paid that will need to be paid and further delays repayment of the loan and allows Chase to hold on to the loan for a longer time thereby collecting more interest and allows Chase to change the accounts to a very high rate after the two years have expired (if Chase does not come up with another scheme in the meantime).
Of course, Chase told me that I can take my balance to another bank - so this is another alternative. If you pay off the balance, then you will still be charged the $10 monthly maintenance fee even if your balance is zero. Chase told me I can close the account. Obviously Chase does not want customers who have zero accounts also.
But, Chase is offering you $125 if you open up a checking account (which pays no interest) and you set up direct deposit into the account. Chase pays only. 10% interest on its savings account at the moment. Chase must be at the very bottom if it is resorting to this type of scheme.
THIS WAS A HUGE BAIT AND SWITCH ON THE PART OF CHASE. And, the government is bailing out these banks and financial institutions which will have to be paid by tax dollars. I thought the bailout was to help out the banks so that they could continue doing business - maybe the government should have demanded to find out first what kind of business the banks were planning to do before letting them have the money.
Once again here I am fighting with Chase over my money. I will say that within the last 2 1/2-3 months someone has found a way to withdraw all of the money out of my account I would say every other pay check. Now prior to me writing this I have had to open 2 claims with the disputes department regarding my funds being stolen from my account. Now I must admit that I am a very inquisitive person and like most people in Michigan I cannot afford to miss a pay check. I wish I could afford it but, I cannot.
I repeatedly asked Chase Telephone Bankers “how is this possible?” How can someone withdraw money from my acct through an ATM without my debit card being present? Might I remind you that the last time this happened I had my debit card in my possession! I always get the same responses...someone must know your pin, someone must have taken your card, or I don't know. Chase advised me that they would investigate the issue and send me a letter disclosing their findings within 30 days.
30 days past and this letter never came. I even called Chase back to inquire as to what happened with this investigation. I never received any response...just a lot of I don't knows' and promises to be contacted via mail or phone which never came. Now the previous two times that this has happened Chase did refund my money. But, to me that was not good enough. I am a person that is all about PREVENTION and I didn't want this to happen to me again.
With that being said the 2nd time that all of the funds were withdrawn from my acct I requested to have my acct changed (which sounds like should be procedure for an issue like this...surprisingly it's not. All they do is send out new ATM cards). I was told that I would have to go into a Chase Branch to have a new acct put into effect. I was inconvenienced ONCE AGAIN and spent my whole lunch break at a Chase Branch trying to get a new acct where I was met with EVERY EXCUSE in the book as to why I should NOT change my acct.
I was told that my account wasn't the issue and that in fact it was my debit card that was used in these transactions and changing the acct wouldn't be useful. I still pressed the issue to have the acct changed and that was when I was told that if I changed my acct it would screw up my direct deposit and Chase wouldn't have an acct to deposit my credits into. With that being said I was convinced to leave the acct the same and assured that since I changed my pin this wouldn't happen again.
BUT, persistent me didn't stop there. I even took it upon myself to call Chase yet again and request some form of Identity Theft Protection. (I wasn't offered this as some form of protocol to victims of fraud or Identity theft...although you would think that they would offer you this protection being that this has happened to a customer of theirs). The young lady informed me that the protection was $11.99.
I advised her that being that this was (at that time) the 2nd time this had happened I should receive a few months of this protection for free as a courtesy to me. She told me that she wouldn't be able to honor my request and I took it upon myself to pay for this EXTRA protection to PREVENT any other mishaps in the future.
Well guess what? 2 weeks ago my brother died in a tragic car crash. And with that being said I have been going through a great deal of things with my family. I tried to go to a store to pick up a few items and called to see how much my check was (this was on a Sunday) and guess what? I only had $100 in my acct although I had just gotten paid on Friday!!!
I spoke with a telephone banker who advised me that there was a deposit of $700 pending on my acct! I immediately told her that that was incorrect and to close my acct down and cancel my debit card (which I had) immediately. Spoke with someone Monday to open another claim and they told me I had $400 in my acct. I went to the bank to withdraw the little bit of money I had left to only arrive and find out that my acct was then overdrawn $293!!!!
I bet you are wondering what happened to the $700 deposit? Well come to find out they deposited an empty envelope into the ATM and then withdrew all of my money + the (fake) $700! And you guessed it! CHASE isn't going to give me a DIME of my money back!
Now what I would like to know is...how is that when I deposit a check into the ATM that is over $500 my check is held an add'l 24-48 hrs for the check to clear the bank and on the receipt it will say...$1,000.00 is your balance $200 is your available balance (ready for use until that check fully posts to the acct) BUT, these CRIMINALS can make a deposit and before it posts withdraw all of the funds?
How is it that I have a spending limit on my acct of $500 per day and $500 of withdrawals thought the ATM on the weekend BUT, these people withdrew about $1500.00 over the weekend? I would like to know why I wasn't notified of these suspicious transactions on my acct being that I AM PAYING $11.99 for IDENTITY THEFT PROTECTION!
Chase is a JOKE! I cannot believe that this has happened to me. I even went as far as to go and file a police report, request that footage be taken from these cameras to prove that it was not me! Chase did pull the tapes and determine that it wasn't me making the withdrawals but, they told me that the person had on a hat so they didn't get a good shot of his face!
HELLO, since when does a criminal show his face at an ATM that he knows has video surveillance??? Either way what does that have to do with me??? I have been getting the run around now for 2 weeks. Dealing with the death of my brother I haven't been working so, the 3 days of bereavement pay that I did get from my employer is going to be direct deposited into that acct on Friday and you guessed it! Chase is going to keep it all in fees because that my acct is overdrawn $293.00! Take it from me DO NOT, I repeat DO NOT bank with Chase...it's not worth the hassle, the headache, the money or your sanity.
TUSCALOOSA, ALABAMA -- I have a Chase Visa card I have had for years. I have (had) great credit a 760 plus beacon. About a year and a half ago a law firm by the name of Mann-Bracken started calling me saying they were going to file a judgment on me if I did not pay my Chase account. I assured them they had the wrong person, that I had excellent credit and was not delinquent on anything.
The phone calls become more frequent. They would ask if I ever lived at such an address and I told them "no". They would hang up on me. Phone calls still coming and getting ugly and aggressive. I told them again and again they had the wrong person, I even revealed the last 4 of my social then they would hang up.
I called Chase over and over discussing this and they told me they knew nothing of it, my account with them was perfect. Phone calls still coming. Finally I talked to another person at Chase in security. She looked up my name and state and said "uh-oh!" (That usually means something bad!). She said it looks like we have accidentally dumped someones files with the same name as yours living in the same city as you in with your files.
I was furious! She assured me they would correct the problem and contact Mann-Bracken who is one of their collection attorneys that they were at fault and to leave me alone. During this time I pulled my credit report, still good 760 plus beacon no negative from Chase or anyone. Then a couple of weeks passed. I got a anonymous Fed-Ex package. I opened it up and It was documents where Chase had filed Arbitration against me in Atlanta.
I then went and pulled my credit again. Still good 750 Plus. I contacted an attorney and they wrote a letter to Mann-Bracken telling them they had the wrong person and to back off. About a month passed and then another attorney collection agency started calling me. Again I pulled my credit - mid 750 beacon. Nothing derogatory.
This time the attorney wrote a very aggressive letter telling them again they had the wrong person and they were harassing me and any further contact would result in a lawsuit. The attorney also explained to them she knew me personally and that the person they were looking for had the last name as me by marriage. I was single. Things got completely quiet, not a word from anyone. This was late 2006.
As interest rates started to fall in late 2007 I went to refinance my home and some rental property. I was turned down due to the $16,000.00 plus judgment Chase had placed on my credit report. My beacon fell from the high 700's to the 600's. I have respoken to my attorney, we are trying to decide how to exactly approach this. I am very angry. I am a single mom supporting two small children. I have worked very hard for the things I have and Chase has given the SHAFT. ANY COMMENTS, ADVICE?
CHICAGO, ILLINOIS -- Both my small business and personal accounts are with Chase. My personal acct. has been the same for years but was a community bank, bought by First Chicago, bought by Bank One, bought by Chase. Over the past several months I've had a terrible time with all aspects of service from Chase.
1) It took a month of attempts to get my accounts online and customer service people could find no reason why my accounts wouldn't load.
2) I wrote a check from my personal savings to deposit into my business checking, put 2006 instead of 2007 on it (it was early January) and they rejected the check, which led to bounced checks and fees for my business- not Chase's fault that I miswrote the year, I understand their right to charge those fees, but despite all my accounts being with them, they didn't provide any customer service. They told me I could avoid this kind of problem if I got online banking (of course this was during that month of not being able to get online!)
3) I needed a roll of nickels, a roll of dimes, two rolls of quarters and twenty singles. I got 60 dollars from the ATM, went into the lobby to cash out for change. The tellers at this branch did not have easy access to cash- the girl didn't know how to use the machine that spit out singles for my 20, and the manager had to go behind the scenes to get the rolls of change. It took over twenty mins. to obtain the change I needed. I was asked four times if I had accts with Chase, the last was an interrogation and they had to look everything up on the computer before the manager would go back and get the two rolls of quarters she forgot to get the first time.
And when they gave me the roll of nickels ($2) and the roll of dimes ($5) they only gave me back $12 in ones to match the twenty dollar bill I gave them. When I pointed out they were a dollar short, they reacted as if I was scamming them, and it took another three mins of explaining. All for 4 rolls of change and some singles. I found out later that tellers-with-no-money is a new method they are trying at some of their branches.
4) An $8 fee suddenly popped up on my business checking acct. They suddenly changed policy to having ridiculously high minimums for business accts. I had to go to two separate branches and speak with several people before they agreed to look at my combined assets and waive the charges. Before I spoke with anyone at the first branch, I looked online to see the policy. A week later I was at the second facility and we were looking online: the minimum amounts had shot up another 2 thousand dollars (4000 to 6000) and no one at the bank had been informed.
5) Yesterday (08/02/07) I got my personal accts. statement and there is a $10 service charge for not meeting a new ridiculously high minimum amt in my checking acct.
Unfortunately, it will be a mess to close out my business and personal accts. and line of credit (which I've yet to draw on) but Chase has become maniacal with serving fees to its customers. And it hurts because I just renewed my "right" to a business line of credit (for $150).
Shouldn't any bank have to provide written notice to its customers when making policy changes? I've never received any email or leaflet or note with my statements informing me of any changes before they happen- that's what ticks me off the most. They don't even give me, the customer, the chance to accommodate to their new standards to avoid these fees. The message I'm getting from Chase is: we don't want you to use real money anymore and if your personal and business is only "small potatoes" we don't want your business at all. Don't use Chase !
ILLINOIS -- Chase's slogan: “The right relationship is everything.” How would you like your financial institution to work against you when an employee is stealing from you? Being a female small business owner supporting five employees, the right relationship is everything; the internal relationships with your employees and the relationship with your financial institutions.
These relationships can nurture the growth of your business and make you feel as if you have an entire support system in your corner; a support team in place to help elevate you to success and to support you through the trying times of entrepreneurship. I assume this is what JP Morgan Chase wanted us, as a consumer, to feel when they chose this as one of their heartfelt slogans. Now I know their marketing and operations are unrelated.
I had been a Chase account member since 2007, and our “relationship” was satisfactory until it was brought to my attention that unauthorized charges were happening on my account. Upon this knowledge I closed my account in August of 2011 only to learn that Chase then allowed an employee of mine to fraudulently obtain a card on my closed account and run up charges.
As if the discovery of interoffice betrayal was not enough, Chase is making things even more difficult. I have found that Chase has misrepresented themselves in their fight to “stop fraud in its tracks”. There was no “Fraud Monitoring” which is their sophisticated tool to detect abnormal charges. In my case, they were clearly personal charges (Legoland, retail shopping, and child care).
They also took money without authorization from my operations account to cover these fraudulent charges and have yet to provide proof of their right to do so. I am still dealing with their “Zero Liability” promise, but it's more than a little hard when they've taken your money and ignore the written requests they asked for.
For example, when the employee who was fraudulently charging rerouted the bills to her email address, Chase didn't call me. When Chase saw line after line and page after page of charges inconsistent with a business account they never once called me or wrote to me (over $46,000.00). Then the game came out “oh we closed your “card” when you asked but not your “account”. My request was to close the account and they have audio tape (“this call may be recorded”) which they have said they'd provide a copy of on July 11, 2012, but as of August 30, 2012 no recordings have been received.
In my opinion Chase is only interested in having the “right relationship” with your money as in, they have it and you don't. Based on my experience, I would recommend any business owner who has any reasonable expectation of their financial institution working with them; steer clear of JP Morgan Chase.
COVINA, CALIFORNIA -- This is to show everyone how Morgan Stanley Chase Bank cares and helps small businesses. You have seen their advertisements on how they love small business and how they help small businesses. Helping small businesses my **. My story will shed some light on this matter.
I own a small manufacturing company manufacturing writing instruments and personal care products in southern California. We used to have over 25 employees but are down to 11 mainly due to the imported product from China. Several times, I was approached by Chinese businessmen wanting to move my production to China and get a lower price, but I wanted our products to be molded and manufactured in our factory in the good old USA. Though I knew it was financially not a smart decision.
I have lost money in the past two years but things are beginning to look better but I am still not making money. So I decided to sell my industrial building we occupy. I have about $600,000 equity in it and Chase is the mortgage holder. So I asked Chase to let me slide and not make the monthly payment for a few months until the building is sold. Then you will get your money plus interest and this would really help my company a lot.
After submitting tons of paperwork including my next years projected sales and profits, a ** called and informed me that Chase would not go along with my need and that they would have to foreclose. I said you will get your money for sure plus interest, I just lowered my building to $1.3 million (down from $1.9 million 4 years ago), my mortgage is around $760,000; you will get your money first, so there is no risk for you. You are guaranteed to get your money, guaranteed. So what is your problem? I am one of those small businesses that you say you love to help. Her answer was for me not to pay other bills and to pay Chase instead, otherwise they will foreclose.
I was so revolted by her mannerism that I hung up on her. This woman had no feelings about small business, 11 employees losing their jobs, 11 additional manufacturing jobs lost. She did not give a damn. She wanted her $5000 per month.
Ladies and gentlemen, this is JP MORGAN CHASE, a bank that loves to help small businesses succeed, the one that we, tax payers, bailed out; and this is how they return the favor. SHAME ON YOU. I WILL SPEND 100's of hours pasting this on web sites. It will not have any effect on a giant like you, so you will not give a damn, but it will make me feel better.
PARADISE VALLEY, ARIZONA -- I transferred my account over to Chase. My mistake in trusting them. I had fraud on one of my accounts (not their fault). I was advised to CLOSE that account and reopen a NEW account. I had direct deposit linked to that old account. I was assured this would be monitored and handled.
I had an employee tell me he would 'take care of everything' with my direct deposit. I come in, fill out the form to be submitted to the state. Turns out the state NEVER received the form! Deposits were returned "account closed". I had checks returned unpaid because of this which left marks on my credit.
With all the employees running around playing stupid, even one saying, "I told you we could not take care of your direct deposit. That you had to go through the court." Please... Just admit you all dropped the ball! YOU are fully ABLE of doing this for your customers. In fact I have a copy of the form your employee signed and supposedly submitted to the state...
The truth is you lack customer service. You lack communications. You want to LIE and you got caught. Let's also say "It's against our policy to put any apology in writing." Chase Branch Manager also told me she does not keep documentation on file that clients sign. I find that truly hard to believe that you do not keep a document on file that pertains to a customers account. I will file a complaint. DO NOT BANK WITH CHASE OR BETTER YET THIS PARTICULAR BRANCH.
More from the author: Chase returned an item (not paying) on my account $34.00. Then the Merchant tried to run the debit again two days later (makes sense. They want their money). Chase then decides to pay the item, charging me another $34.00.
I did go into the branch and tell them "look, either pay the item the first time or don't. Chase purposely made money off me to benefit them." Wait....I recall another bank doing this and their being a huge lawsuit a few years ago. **Let's also remind them, I would not have had all the fees (above) if Chase would not have screwed up my direct deposit information and placed this in someone else's account!!!
I went to my local Chase Bank, which I have had an account with for over 20 years, to get a Auto Loan. My wife and I are aware that our Credit Scores are in the 600's so we asked her father to Co-sign. He has an 820 credit score. Banks LOVE him. He pays everything on time or early.
We filled out the forms at the bank with an associate. When he saw the 820 I thought he would faint. All he says we have to concern ourselves with is the amount of time for the payment. When we left he told me to call the next day to work out the details.
I called the next day and he said we were DENIED! He also told me that he couldn't tell me why. It will be sent to me in the mail in two or three days. I told him my car won't be there then, what's going on! He started telling me about my credit problems. I agreed, that's why I brought in my Father-in-law with the 820 score to co-sign! It should be a no-brainer. They told me that the co-signer doesn't matter. WHAT! When did this change? He should be welcomed with open bank wallets. His credit score is higher than MANY business!
When trying to find out why, I was given the run-a-round by chase to 5 different operators with no answers or suggestions. I have been with them for 25 YEARS! No consideration? No suggestions? Nobody advocating for the consumer! NO HELP!
I will be ending my relationship with the bank within the next month but just me leaving does no lesson learning for the institution so, I am asking ANYBODY that reads this to take into consideration my plight and decide for themselves if Chase is the bank for them. What have they done FOR YOU? What do you get from them that ANY other bank could also do? Consider changing banks, closing investments, or just plain get AWAY for them.
I felt the Attorney General's office might be interested so I called them. They could only say..."go to this site and fill out the form and we will get back to you. Again, there goes the car I wished to buy. You know, be a good consumer. Even the "Domino's" pizza owner in the commercials was more upset about his pizza's sticking to the box than the bank was about their own customer of 25 years. I'm so glad my tax money went to bail out the banking system (TARP). NOT! Let them FAIL. They don't mind if you do.
GARDEN GROVE, CALIFORNIA -- I recently began using Chase online banking to pay bills and on Aug. 12 I set up an automatic payment to my Chase credit card for the following day, (Friday the 13th). When I went to the bank to withdraw money from my account there was no money and I was overdrawn by over one thousand dollars!
My paycheck had just been deposited and there was no way I should have been overdrawn. I checked my account online and discovered that my payment for 540.00 had been sent 4 times, a total of 2160.00 had been withdrawn and sent as payment to my credit card, causing my account to be overdrawn. I immediately called my bank. They said to call the credit card company that the payment had been sent to.
I was on the phone for over an hour. The credit card company said there was nothing they could do because the payment(s) were being processed. The bank told me there was nothing they could do either. I went to the bank on Saturday and they told me there was nothing they could do, they were sorry, but it was up to the credit card company to reverse the payments and that it would take up to 5 days, (2-3 working days, and it was now Saturday).
I currently have no access to any funds because of the overdraft on my account. The payment to the credit card is not accessible to me because it is an overdraft protection account in which I do not have a card for. It is my daughter's birthday. I have no gas in my vehicle, no food, and the bank is offering no help and no explanation for the error that THEIR ONLINE BANKING CAUSED! DO NOT USE CHASE ONLINE BANKING! They told me they would try to reverse the charges for the overdrafts but could not guarantee it. UNBELIEVABLE!!! ON MONDAY I WILL BE SWITCHING BANKS.
NEW YORK -- I am a young struggling twenty-something who just flew off the handle with a larger complaint about JP Morgan Chase but since I had two bad experiences with the company this week, I'm going to share my other complaint. Their customer service ABSOLUTELY, politely put, leaves much to be desired. I called the company in early January and then again this week: each time to see if there was anyway they might be able to lower my APR by even a ridiculous 2 or 3% percent because even a small amount goes a long way in the end.
Each time I have spoken with the company, I have encountered rude employees and I have been told that I need to make vigorous large payments for @ least 6 mos before an APR can be lowered even by 1%. Meanwhile, every other bank card that I own has generously lowered the APR by an estimated 5% based on my good standing without making demands. Although I have good standing with JP Morgan Chase, that doesn't matter to them.
In fact, when I spoke to management on the phone this week, they didn't even believe me when I mentioned other bank cards have lowered APR percentage rates. In early January & this week, I explained to Chase that I have made early & on time payments for the previous 6 months, paying more than double the minimum on my cards. That didn't matter! After first being given this news (in January), I struggled to pay double what I was already paying (nearly 5x the min) in the last two bill cycles, still I'm told it's just not good enough.
I'll have to wait another 6 months for them to review the account. This company deserves bankruptcy. I say that with my freedom of speech, one freedom America can't take. Again, I will continue to urge people to complain. A 5 minute phone call to the Attorney General or the Better Business Bureau is all it would take. If you don't have a Chase credit card, don't get one. If you don't have a Chase account, don't get one. Spread the word. Chase is bad news... they don't know how to treat their customers. I'd be embarrassed to work for them.