Chase Customers: Did you know...?

Question

That Chase charges a $6.00 relationsip fee if you do not have direct deposit and if you over withdraw - WITHOUT EVER WRITING A CHECK - (using your debit card) they will allow the purchase to go through (up $10) and then charge you a $25.00 service fee. They call approving the transaction a courtesy! A courtesy that will cost you the amount plus a minimim of 250% fee.

Did anybody know this? I didn't until just recently and now I am not a Chase customer anymore.

Answer 1

First of all you can get a free checking account just about anywhere now. You don't even have to have direct deposit or have a minimum balance anymore. Now for the hard part....

As a banker I spend about 40% of my day talking to people about their account and why they are in the negative. The truth is that most banks have a system that will allow you to overdraw your account so much money (I've seen accounts with a $1500 limit) before they start declining transactions. That is how the banks make their money. Especially the ones that offer free checking with no stipulations. Fortunately for all of us there is a very simple solution to the problem. KEEP A TRANSACTION REGISTER! It is something that most people don't ever do because they think it is too inconvenient. It is too hard for them to keep up with. This is what the bank is counting on. They know that the majority of people are not going to do this, so they charge outrageous fees for overdrawing your account.

So don't let the bank make money off of you! Get in the habit of keeping your receipts and then recording them in the register later. Once you get in the habit of doing it you'll be amazed at how easy it is.

Answer 2

I have a checking, savings, an IRA and 2 credit cards, and I've been with them for about 3 years now, and I've NEVER had anything like that happen to me. I'm really sorry that had happen to you, you seem like some stand-up folks, but I haven't been done in yet, but I'll keep an eye out for anything sheisty. Speaking of sheisty, let me tell you how BOA did me. I had a checking and 2 savings accounts which BOTH of them were set up as overdraft backups. Well, I had some items come in which threw my checking overdrawn, or at least temporarily with the 2 backups. Well, that didn't happen, I did more than contact customer service, I went directly to the branch in which I opened my account and I talked to the branch manager. I asked what happened, and I could never get a straight answer. I asked one of the tellers which also was a close personal friend of mine, and they couldn't believe what was going on. After haggling with them for almost a month, I closed my accounts and cancelled my credit card with them that they recently preapproved me. Needless to say, that I won't be dealing with them anytime soon.

Answer 3

They LOOOOVE to charge you for everything. Your best bet is to go to a smaller bank or even a credit union; you'll get better service and the employees are more willing to work with you on issues that come up. I work in a community bank that is like that. If you have a good relationship with the bank and the employees are familiar with you, you have a better chance of getting what you need/want.

Answer 4

I killed off my Chase account last Dec. But on an unrelated topic,
If you think Chase charges are steep, Did you know that if a truck loaded with car parts bound for an assembly plant is late and causes the assembly line to shut down the fine is thirty thousand dollars for every minute that the assembley line is down?

Answer 5

Chase royally f&cked me with service charges back in October. I paid them, in the end, about $600 in fees for going over about $50 without knowing about it. I don't deal with them anymore, either. They are a heinous and cruel bank.

Answer 6

Does this apply to the college student's accounts as well? I have a college student account and I have not come across any of these charges.

Answer 7

I had a credit card through them. They are just as bad as Dell. ...well...maybe not since they didn't harass me for payment if I was 1 hour late. Anywho...I have since paid them and Dell off.