JP Morgan Chase Complaint - Continuation of Review
I intend to discontinue any financial dealings with JP Morgan Chase, which I should have indicated in the first place when I started my review.
I would like to indicate that I was with Washington Mutual and during the acquisition after reviewing who JP Morgan was historically, immediately should have terminated any financial dealings with them entirely.
But it doesn't stop with JP Morgan Chase. What JP and company and other banks are facilitating as indicated by other reviewers experience and from reports from people, is completely abominable. My friend indicated that she had
purchased a cashiers check which has to be purchased by cash and tried to deposit it, but the bank told her they had to put a hold on it. Reason: They were trying to obviously cause overdrafts so the bank could charge excessive
fees. Also they told her that they were going to put a 2 day hold on her ATM card as well.
Congress has to enact laws to protect consumers, instead of protecting these criminal conglomerates.
Also, what I find bizarre is another bank issued me an ATM card linked to my checking account. The disclosure indicated that I could only use it to purchase $700.00 of goods daily even though I have $2,000 of available cash in my checking account. The banks rationale was that they were only trying to protect you in case of loss of the atm card. According to CFR your limit of liability due to fraud is only $up to $50,00 since your bank is reimbursed by the merchant's bank automatically.
I think that it is time to get out of the US banks and just deal with cash, and forget banking institutions altogether. Caveat Emptor.
So maybe the best