Chase Manhattan Bank Complaint - Ridiculous Fees - Chase makes up it's own rules
This is a written complaint about the way Chase Manhattan Bank does business. When I received the most recent savings statement in the mail the other day, I found there was a $3.00 charge against the account because I went over the maximum of four withdrawals within a given statement cycle. For this particular cycle I only did five due to added expenses that given month. I contacted Chase in various ways: By telephone, in person and e-mail and pretty much got the same response that Federal Law allows a bank to charge a fee to customers who go over a certain amount of times they withdraw from a savings account. Apparently, the Federal Law allows six withdrawals and Chase only allows four. What right does Chase have to make up their own rules?
As far as I am concerned, Chase pretty much stole the $3.00 from my account because within their own website it reads:
.. Transaction limits apply. Under federal regulations, you are allowed up to six pre-authorized withdrawals per monthly statement cycle, (including telephone or electronic transfers), no more then three of which may be by check or similar order payable to a third party; $12 per preauthorized withdrawal or check above limit. There is no limit on deposits or the number of withdrawals you can make at an ATM, by mail or at a Chase branch.
The account in question wasn’t even originally opened with Chase. The very first bank I did business with is Lincoln Bank, which is by far the best bank that ever existed; then Anchor Bank, Dime Savings Bank, Washington Mutual, and currently Chase. Banks swallow each other alive because of the constant fraudulent activity that goes on within and the customer suffers the consequences with ridiculous fees. Why punish the responsible ones like myself? I never have been in debt and even elect to have direct deposit go directly into the savings account. I only transfer money to my checking account on a monthly basis for living expenses and only take a limited amount of spending cash. By the $3.00 fee, it shows that I don’t abuse my spending habits and Chase has the nerve to tell me how to budget myself?