- Report: #678274
Complaint Review: Chase Bank - Internet Internet
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Chase Bank
Internet, Internet, United States of America
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chase.com
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Chase Bank Really unfair Internet
I have had my little Chase account for 25 years now. It is where I put my cookie jar money. Right now my balance is $25.88 because I spent $50 each on Christmas presents for our 5 Grandkids. It took me a year to save that much.
20 years ago a bank whos name I dont remember sold me to First Chicago, they sold me to Bank One and they sold me to Chase.
I now get a letter from Chase saying that they will charge me $12.00 a month if I dont have 5 debit card transactions or $500 in deposits a month. I have until February to accept this or close my account.
I called Chase and asked if I deposited $1300 (1960s saving bond I saved for rainy day) would my account still be free.
I was told no, I would have to deposit $500 a month or spend via 5 debits a month. I asked if I took money out money at the ATM (thinking I could deposit it back) would that count. Nope, you have to use your debit card to buy stuff.
Really? What is wrong with this picture? I have to pay fees if I dont buy stuff every month?
My account wasn't earning intrest anyway, it will now be moved to under my mattress.
2 Updates & Rebuttals
Mia
scottsdale,Arizona,
USA
You are in the wrong account.
#2Consumer Comment
Tue, January 04, 2011
It sounds as if you don't use the account for anything but as a place to save your money. If that is accurate then why are you in a checking account? You should open a savings account. A savings account is free if the balance is above $300.00 a month. You do not need to use a debit card or have direct deposit into the account to waive the fee, just keep the balance over $300.00 per month. You can get an ATM card for a savings account, it just won't have a, "visa" logo on it, as it is not a debit card. Checking accounts are for folks who need access to their funds on a regular basis. Since interest on any bank accounts are pitiful, and it seems as though you are not using a bank account for that purpose, I think you would be best served by having closing the checking account and opening a savings account. Sticking your money in a mattress, or any home equivalent is not a good idea. Money gets stolen or lost, or, if it is in easy reach it may be too easy to spend instead of save the money...if you are easily tempted that is!
Hope this helps. Good Luck!
Karl
Highlands Ranch,Colorado,
USA
Lynn, Chase bank knows that a certain percentage of its customers will...
#3Consumer Comment
Tue, January 04, 2011
'overdraft' their accounts on a regular basis, and this will allow Chase to make profits the 'good old fashioned way' in the USA, by DECEIVING & MANIPULATING people.
The big banks are no longer making their profits by loaning people money as they did in the past, so they have to make it another way. By making up rules that force customers to keep a certain amount of money in their accounts and having their customers make debit card transactions, Chase knows that they'll make a lot of money on 'overdrafts'.
It's that simple!
Just cancel your Chase account and open an account with a locally owned & operated credit union in your town.
Thank You
P.S. Chase is also JP Morgan Chase. They are linked to the Federal Reserve. You can 'Google' this- WHO OWNS THE FED?, and go to the site with the 5 charts and see that JP Morgan is named in 'Chart 1'.
Don't forget to 'Google' this- CHASE COMPLAINTS SECRET LIFE INSURANCE POLICIES, and read the related articles on the web.
Then 'Google' this- BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES, and read where Chase has $11 Billion in these secret life insurance policies on its own employees, okay?
To sum it all up, the Federal Reserve needs to generate profits any way possible due to the money it lost in the 'mortgage/foreclosure mess' in the USA, in my opinion.
HAPPY NEW YEAR
