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Chase Bank

I don't believe Chase bank has been talked about before, so here it goes.

I recently opened a checking account with them through one of their promotions; start a checking account with a $100 minimum and they give $100 so long as you keep the account open for 6 months. Great deal, and I was aware that in order to not be charged the $6 monthly service fee you had to either use your debit card 5 times a month or had direct deposit set up.

The third month after I opened the account they charged me a $6 dollar service fee, so I called and it was their mistake. I let it slide, mistakes happen. I was recently charged another $6 dollar service fee for my checking account so I called again, irritated that they would make this mistake yet another time. It turns out however that it was not a mistake. I did not use my debit card 5 times this billing statement. When I opened the account, the banker told me that I had to use it at least 5 times in a calender month.

So now, once I have had the account open for 6 months I will gladly close it due to the many errors and misinformation that has been happening. I know they did not make a large error, however if I am going through this much grief with Chase in less than 6 months, they are certainly not a company I will continue to do business with for fear of further fees, errors, etc.

And I thought opening an account with Chase would end my day with horrible Wells Fargo! Chase is starting to make them look good!
 
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Unfortunately all major banks suck. They have lost millions in fees due to bank reform. Free checking is or will become a thing of the past.
 
Unfortunately, these kinds of underhanded fees are being the standard with banks because the financial reform bills, while cutting down on the obscene overchage fees, didn't go far enough in anticipating the sleaziness of the industry and their amazing ability to find new ways to fleece customers.

Really the only way you can counter this is to shop around and read the rules very closely. If you keep all of financial activities (banking, home loans, home equity, checking) with a single base you may have more leverage for having them waive these fees permanently. The higher an account balance you can keep with a bank, the lower the fees you're likely to be charged. The one thing banks hate is customers who keep low-minimum checking accounts and don't perform many debit transactions.

Jeff in Boston
 

luvmysuper

My elbows leak
Staff member
I'm not impressed with Chase at all.
Our company recently switched to Chase as the carrier for our Business Travel Credit Cards and the first several months were a major fiasco. People stranded at Airports away from home with the card being refused because they didn't call and notify Chase that they were travelling. :blink: :blink:
That has been straightened out, and now we are dealing with a 1 percent usgae fee every time a charge is made on the card overseas.
Doesn't sound like much, but on an overseas trip - Hotels and Airfare add up quickly. If you don't check the web site every day you miss a fee, and then you don't get reimbursement.
Not a big fan of Chase right now.
 
This issue has come up before. I believe some of our members use credit unions. They seem to be happy with these outfits.
 
This issue has come up before. I believe some of our members use credit unions. They seem to be happy with these outfits.

I have never heard anything bad about a credit union. Luckily I have had good luck with my bank, but if I ever need to switch, I will go to a credit union.
 
The sense of entitlement that these large banks have is appalling. The only reasonable response is to shop relentlessly for a better deal, preferably with a smaller bank. The online banks are offering better deals, if you can do without the bricks-and-mortar.
 
Was considering of swapping to Chase after BoA nailed me yet again. But everywhere I look they all seem to be as bad as each other. In the end I'll go with the most convenient and show them no loyalty what so ever..
 
Was considering of swapping to Chase after BoA nailed me yet again. But everywhere I look they all seem to be as bad as each other. In the end I'll go with the most convenient and show them no loyalty what so ever..

I did switch from BoA to Chase, and I like it so far...BoA only counts change in their "downtown regional branches" not apparently in the sticks of geneva Il...plus it was going to take them 5-7 business days to get it in my account...no money would be exchanged?!?! I said no. On top of that, they charge you a $5 fee for using an atm other than BoA...that's in addition to the fee that bank charges. I'm sure chase is the same, but come on!!! Since i recently re-located to Illinois I have to fill out a different deposit slip at the counter. I opened the account in RI, and they said they couldn't switch that whatsoever...I'd have to go back out to RI, close the account, come back to IL and open a NEW account. I mean it's THE SAME BANK for heaven's sake!
 
If all of you who are veterans want to get rid of your banking problems all you need to do is bank with USAA. USAA recently loosened their membership requirements allowing any veteran (and family members) to join no matter how long ago you served. It you used to be that you had to join while you were on active service and if you left after service then you could not re-join....no longer. I have used them for 10 years and if they keep up their exemplary service and products I will never change.
 
If all of you who are veterans want to get rid of your banking problems all you need to do is bank with USAA. USAA recently loosened their membership requirements allowing any veteran (and family members) to join no matter how long ago you served. It you used to be that you had to join while you were on active service and if you left after service then you could not re-join....no longer. I have used them for 10 years and if they keep up their exemplary service and products I will never change.

I get to use USAA because my father served in the Army for 20+ years. I am so happy with their customer service!
 
I started off with Bank of America and had many problems with them (incorrect charges, etc.) I then went to Washington Mutual - who then closed the branch I did business with. Then switched to Sun Trust and have been happy with them. :001_smile

Much to my shock, last week I received a telephone call from a Sun Trust rep who asked if I was happy with their service and was there anything they could do to improve! Could not believe the call.
 

luvmysuper

My elbows leak
Staff member
If all of you who are veterans want to get rid of your banking problems all you need to do is bank with USAA. USAA recently loosened their membership requirements allowing any veteran (and family members) to join no matter how long ago you served. It you used to be that you had to join while you were on active service and if you left after service then you could not re-join....no longer. I have used them for 10 years and if they keep up their exemplary service and products I will never change.

I use USAA checking for my Paypal Account. The debit card allows me to use the account for other purposes. I have no paper checks, and I don't have to deal with a B&M
 
If all of you who are veterans want to get rid of your banking problems all you need to do is bank with USAA. USAA recently loosened their membership requirements allowing any veteran (and family members) to join no matter how long ago you served. It you used to be that you had to join while you were on active service and if you left after service then you could not re-join....no longer. I have used them for 10 years and if they keep up their exemplary service and products I will never change.

Thanks for the advice! I have USAA for home and auto insurance for more than a few years. They're wonderful. I didn't know about their banking services.
 
If all of you who are veterans want to get rid of your banking problems all you need to do is bank with USAA. USAA recently loosened their membership requirements allowing any veteran (and family members) to join no matter how long ago you served. It you used to be that you had to join while you were on active service and if you left after service then you could not re-join....no longer. I have used them for 10 years and if they keep up their exemplary service and products I will never change.

I use USAA checking for my Paypal Account. The debit card allows me to use the account for other purposes. I have no paper checks, and I don't have to deal with a B&M


I have been using USAA automobile insurance for almost 50 years; their banking for almost as long.

Some time ago, perhaps in the late 90s, things changed at USAA banking. They went from the best in the nation to just like the others, in my opinion.

Although not as bad as Chase.

--James
 
This issue has come up before. I believe some of our members use credit unions. They seem to be happy with these outfits.

Very happy with my credit union. It's really bizarre, but they actually treat me like I am some sort of real human being. It's quite refreshing, actually.
 
I'm fairly happy with chase bank been with them for years. Made the move after my credit union allowed my ex-wife who was court ordered removed from an account to withdraw a large amount of money. It took a lot of time and money to make it right and in the end a teller and branch manager were out of work and the CU had to pay back the money plus expenses and punitive.
 
Banks are like cell phone carriers - they all suck.

I think this is the answer. Pick one with branches closest to work and home and hope for the best. Chase is good for me, both in terms of location and service. They email me when my paycheck hits, I can deposit checks on my iPhone. I use my debit card like it's going out of style, so they probably love me.

I switched to Chase when my small local bank, that I had been with for 6 years, raised my monthly fee from $3 to $6! Chase was free.. and a week after I switched I got one of those $100 offers in the mail.
 
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