Chase Manhattan Bank Complaint - Overdraft - Overdraft Fee

Posted by KenPopcorn on 2007-08-29:

You don't seem to grasp the concept that when you SEE a transaction as pending, you are already overdrawn. If the bank has the transaction pending it means it has hit the bank, and just hasn't updated your account yet, but it nonetheless arrived at the bank before your deposit.
Further, from your comments it is apparent that you rely on online balances to balance your account. I am sure I am not the first to tell you that this just doesn't work. You allude to a history of overdrafts. At what point do you become responsible for handling your accounts like an adult?

Posted by Extended Warranty on 2007-08-29:

Who was at fault for you drawing out more than you have?

Posted by sarahnkrystal on 2007-08-29:

what is an unexpected debit? If you swiped the card, typed in your number, wrote it on a bill whatever, it is an expected debit and should be kept track of.

Posted by runaway on 2007-08-29:

This is the problem with debit cards without using a check register (or some similar instrument). The whole idea of a bank account is using only the money that is already in thereand no more by keeping records of what you spent and where. Now so many people don't bother to keep any records of charges/withdrawls, and expect the bank to "understand" and forgive fees when they forget charges.

Posted by Too Good To Be True on 2007-08-29:

If you want to complain about Chase Manhattan Bank, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.

Posted by Stew.old on 2007-08-29:

Ya know I try my best to be an advocate for all review posters. I realize my3cents would be quite a drag if people didn't take the time to post a review and I'm thankful to all those who post a review... I really am so hoi polloi thanks for posting this and I voted it 'Very Helpful'... BUT

Good god your problem isn't Chase, my friend, your problem is that you live from payday to payday. Okay, obviously you have a computer and the internet.... now slap yourself for each of the following that you answer yes to.

1. Do you have cable TV?
2. Do you have large screen LCD/Plasma TV?
3. Do you have car payments?
4. Do you owe on a credit card?
5. Do you refuse to work a second job till such time you no longer live from payday to payday?


I don't mean to get all JayD on your ass but OD fees are the symptom not the disease. Thanks oi polloi for taking the time to post this very remarkable review! (And I think to myself what a wonderful world)

Posted by justcuz3993 on 2007-08-30:

well said Stew, and might I add one more thought.. No matter how much you make or don't make, if you keep track of your transactions - ALL of them - in a register, that you balance every day, and only refer to your online statement as a reference - you shouldn't experience OD fees. It really is that simple.

Posted by Timboss on 2007-08-30:

I went to deposit CASH in my account around 330pm on a Friday afternoon, they said it would be posted the following Monday. But if someone walked in with a check I gave them after 330pm Friday they would deduct it from my account immediately. So if I put $100 into my account BEFORE I wrote the check I could still have a NSF situation. Banks are the ones living in the 1940's because they can screw the consumer just a little bit more that way. I mean, CASH is $$$$ - no hold, why not have it show up in my account immediately?

Posted by KenPopcorn on 2007-08-30:

Tim, the reason is that the banks have to have a point where they cut off the transactions for a given day, so that they can begin the nightly update process (which takes a LONG time to run). So even though you deposit cash late Friday afternoon, the actual account update isn't going to happen until Monday night. It isn't a hold, it's a work flow issue. If you look at your receipt for that $100, it will either have Monday's date on it, or it will say something like 'effective next business day'. In effect, you didn't deposit before you wrote the check.

In a situation where someone may present a check to a teller, generally speaking they are able to see that you have a cash deposit pending, and will honor your check. This is purely a courtesy, they are not bound to do so. A check that comes in through the Fed will not be handled by a human, and no one will see a pending deposit, and you get burned.

Last note: you will always do better in this regard at a credit union.

Posted by Too Good To Be True on 2007-08-30:

STEW: just for fun , i took your slap test. I have a T.V., slap. Plasma no less, slap. No car payments, slap. Do not owe credit cards - paid in full, slap. Do not live payday to payday, slap. Eat healthy, slap. Have cats, slap. Have a dog, slap. Oh no, i can't stop slapping myself, slap. Help me Mr. Wizard !, slap...I voted your comment as 'very helpful',slap...lol...lol...lol

Posted by Suusan B. on 2007-08-30:

What is an "unexpected debit"? You either authorized a deduction from your account in one form or another or you didn't. And I just don't understand why people don't realize that banks are perfectly within their legal right to charge an overdraft fee if at any nano-second in time you have authorized more money to be deducted from your account that you have on deposit? With computers running our lives, the days of spending money and then running to the ATM to cover the debit after the fact are over.

I have two words for you and everyone else complaining about overdraft fees - - CHECK REGISTER.

Posted by noh8rz on 2007-09-03:

Tim, thats not true if you deposit cash its made available to you right away unless you deposit it in an atm.

Posted by Charles Parker on 2007-11-01:

Yesterday, I too realized I made a mistake and needed to make a deposit. I went to the ATM and as soon as it was sucking it in I realized the teller windows were open and my deposit was not about to count for that business day.
Oh well, there goes 105 dollars for three items. I called the bank to ask how much the fees were, and what was going to be assessed, she told me the wrong amount so this morning I am still 5 dollars short. I understand about this being my fault but Chase in my opinion KNOWS the system and could easily fix things like this, by number one assessing the fees or at least showing them as probable in some way. Basically what I am saying is its a machine that tallies and figures this, therefore it follows hard rules. The code is outdated. And yeah, I think in today's age we should be able to rely on online balances - the banks do.
One more thing, I was given a line of credit, at that time the bank employee set up my back up funding source to the line of credit. I did not authorize that, I have a savings account with money in it. I remember the day I went home and looked online and noticed I had 3 accounts that I could view, one of them being the line of credit.
3 or 4 months later I was out of town and on a vacation for the weekend. I wanted something that I knew I didnt have the money for in my checking account. Knowing I had money in savings that would automatically transfer (for a fee! even though they never mentioned that when OD protection is set up) I spent 300.00 dollars.
When I got back to check my account I noticed that the money was in my account but it didnt come from my savings account. Interestingly enough my line of credit was removed from my online list of accounts that I could view.
I had to call the bank and get them to give me access to my new account online again, which btw including the automatic transfer fee of 15 dollars brought my actual effective interest rate to like 43% interest or something.
I don't recall the numbers exactly but it was insane.
there are so many things wrong with Chase its amazing.
I need to rant about one more thing.
I make a deposit roughly in the amount of 2k every two weeks from a company I do work for. I have done this for years. I have a business account, a home mortgage, a business savings, and now the line of credit.
As a "security measure" they have placed a hold on my deposit and mailed me a letter stating they would reverse any OD that this might cause. Well, since we started paying bills out of what was at the time of deposit a done deal, like always we sure enough had a few overdrafts a week later. I figured a phone call could straighten it out but no, I had to go down to the local branch. So I did, where I was greeted by a teller who like most of you guys on here gave me a speech about managing my money and that I needed to go to the branch that put a hold on it.
I asked for a manager, who within seconds and without a fuss clicked a few buttons and said "sorry about that" reversed all the charges including the fees and meanwhile the teller is glaring as though shes still in the right.
A polite conversation with the branch manager told me more.
Local checks clear that night, there was absolutely NO VALID reason for the hold, after reviewing my account he said its a glitch in the system.
The worst part is that since the bank has no way of knowing what fees are incurred because of a "random" hold there is no way to reverse them unless the customer comes in and asks for the charges to be reversed.
It wouldn't be so bad but unfortunately I have had random security holds placed on my deposits (afterwards not during the transaction, meaning no mention on the deposit slip from the teller.) more than once, in fact in the last 2 years I have had approx 6 random holds in both my business and my personal accounts. Every time they reverse the charges, but only after going to a manager. Who at this time all know me.
The last time the manager told me that if the total charges were over 200 she wouldn't be able to do anything. Keep in mind that several branch managers and phone calls to as high up in Chase as I could get by phone - NOT ONE employee could say why my account was targeted and all agreed that there was no valid reason and the charges should in every case be reversed. WHY WHY WHY!!! no-one knew. I am still with them. Its just too much trouble to move all of my accounts and the next bank will probably have a new set of crazy issues that I will have to learn about the hard way.
If you've read this far THANKYOU

Posted by LucyMing on 2007-11-18:

Actually the bank I use to have in college in pittsburgh would disregard the overdraft fee as long as you paid for it withen 24hrs; the amount you over draft from the bank. I believe it was national city? Also; your blatent insults and judge of character show a lack maturity on your end.

Posted by ygl on 2008-01-22:

I have been having bad experiences over all. Let's say that I don't keep full records of all of my transactions, fine.. I'll take responsibility over fees assessed for overdrawing at times BUT when it comes to withholding funds, it's becoming rediculous. I mean, my husband has an additional account at a different financial institution, we both made identical deposits at both banks on the same day. He was able to immediately use his funds, me on the other hand, am STILL waiting. I'm so incredibly frustrated with their policies and fees and so forth, that I AM CONVINCED now, that I will definitely be closing out my account with them. I made my deposit Friday afternoon and here we are, early Wednesday morning and I have yet to see the funds become available. The fees they charge are just outragious and the entire system is just NOT set up to benefit the client in any way whatsoever. I AM DONE WITH CHASE BANK.