CHASE JP morgan chase email alert ripoff Internet
I have had a Chase checking account for years. About 3.5 years ago I set up email alerts for my account. One alert was for below $100 and the other below $0. The first year they worked great! I was very happy and came to use this as my main way of interacting with the account. My account was only used for small items and I only used my card - never checks. This week my bank card no longer was working - I checked online to find my balance to find I was 300+ dollars over draw - almost all from over draft fees. I had never gotten an email alert. I looked back and found that i have been getting email alerts 3-7 days after the fact for the past year. Chase is making a bundle on over draft fees by not emailing me until it is too late. Also - this is a debt card - why are they allowing charges to pass though that there is no money to cover?
1 Updates & Rebuttals
Ronny g
North hollywood,California,
USA
This is why...
#2Consumer Comment
Tue, October 20, 2009
I don't understand something. You state that you used to get email alerts when you were at 0 dollars..and once for being below $100.00 the first year.
So you must understand that you had some kind of overdraft protection..and the bank charges handsomely if you use this service...which is equivalent to a loan at 1000% interest rate..to over 3000% interest rate depending.
You ask at the end why they are allowing charges to pass through when there is no money to cover it? Well the same reason you were once alerted you went $100.00 below..you have some kind of overdraft protection service. You might consider asking the bank to allow you to opt out of the service to help you from overdrafting..if the bank says no just be patient..they are all going to be changing some policies soon...just google "banks change overdraft policy" and read for a while.
I hope you do not take offense when I state you share some blame..I think you are aware how.
Now with that said and out of the way...this email alert service..my last mank never did that..is this service something in contract? Because if you are enrolled in some kind of alert service..you may have a right to cover any fees if the bank did not live up to their end. It's hard to blame the bank for this..yes it was in their best interest NOT to alert you..so you can continue to use the debit card and line their pockets with fees..they are all about making money any way they can..so if allowed to..they will..simply put.
Try to reason with the bank and be persistent..if you speak to the right person there..you may recover some or all of the fees..depending on your history. There may be no point to filing a class action suit..there are so many going on right now you would have trouble deciding which one to choose.
The banks are starting to change some policies on their own.law suits are pending..congress is putting pressure on them..the bad press, exposure and complaints have been plentiful..so if there is a settlement..and/or the banks try to fight and lose...you may recover something. You will get a letter eventually. If you have the need to be involved..just google bank overdraft law suit...and choose which one you wish to join..I just don't think it is necessary at this point.
Just try to be more careful with keeping track of your account...it takes a lot of effort if you use the card a lot..and have electronic payments..deposits...holds..etc..it can be overwhelming..but if you do not want to get anymore fees...and you understand what the bank is doing to charge these fees (you do know..right)..the ball is in your court now.