- Report: #439980
Complaint Review: JP Morgan Chase Bank - Baton Rouge Louisiana
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JP Morgan Chase Bank
P.O Box 260180 Baton Rouge, 70826-0180 Louisiana, U.S.A.
Phone:
800-935-9935
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Chase BankJP Morgan Chase Bank Ripped off my daughter Baton Rouge Louisiana
Two years ago my then 16 yr old daughter.Opened a Chase Bank account because she just got her first job.Because she was a minor a parents name had to be on the account.After the account was open my husband lost his job so our account, which was not linked to her account, would go in and out of the neg. My daughter then started her senior year in high school in August and turned 18 in Sept and is still attending school and working in a restuarant.
In January of 2009 my account was being charged over draft fees.The second Friday in Feb we reviewed our account and we had payed $745.00 in fees since Jan 1st.Not able to recover from these massive over draft fees charged by Chase due to them placing our debit charges in order on our statement from the least amount to the greatest ,instead of placing the deposit in first then the with draws ,they would take out the charges then add the deposit,in reverse order so the account would go into the negitives then they could charge us over draft fees. One example was we got charged $36 for our account being over drawn 25 cents.
After all the fees coming out each week we were unable to recover so we had to stop the direct deposit in this account.We were then contacted by Chase and asked when we could make a deposit.March 30th Chase with drew $122.37 from my Daughters account an put it our account ,which over drew her account and then they started charging her fees.That is when I called Chase and spoke to there agent who stated the could not reverse the the fees.I then asked to speak to the supervisor who was ARA CELA who stated they could not do anything.Becoming aggitated I asked for her supervisor and she transfered me to a dead line.I then called back and immediatly asked for a supervisor and was trasferred to Lauren.I explained the situation to Lauren who was no help so I asked her and i qoute:DO YOU THINK THIS IS MORALLY RIGHT AS A PERSON FOR YOUR BANK TO DO THIS? AND SHE REPLIED : WE DO NOT SPEAK ABOUT MORALS HERE! Which at this time I am demanding for the money to be put back in my daughters account and was told she could not do this.So I asked for her supervisor and was transferred to the voice mail of Randy.
After leaving a message he did return my call.Randy did agree to wave the fees but not the $122.37 dollar transaction.Chase bank will not speak of Morals because they do not have any.They will take money out of your Daughters bank account even though the 2 accounts are not linked and to them this is all good.So anyone that wants to get there son or daughter to start saving money they make I would strongly discourage them from Chase.All they did was prove to my daughter that your money is not save in Chase Bank.
Ripped off daughter
New Washington, Indiana
U.S.A.
In January of 2009 my account was being charged over draft fees.The second Friday in Feb we reviewed our account and we had payed $745.00 in fees since Jan 1st.Not able to recover from these massive over draft fees charged by Chase due to them placing our debit charges in order on our statement from the least amount to the greatest ,instead of placing the deposit in first then the with draws ,they would take out the charges then add the deposit,in reverse order so the account would go into the negitives then they could charge us over draft fees. One example was we got charged $36 for our account being over drawn 25 cents.
After all the fees coming out each week we were unable to recover so we had to stop the direct deposit in this account.We were then contacted by Chase and asked when we could make a deposit.March 30th Chase with drew $122.37 from my Daughters account an put it our account ,which over drew her account and then they started charging her fees.That is when I called Chase and spoke to there agent who stated the could not reverse the the fees.I then asked to speak to the supervisor who was ARA CELA who stated they could not do anything.Becoming aggitated I asked for her supervisor and she transfered me to a dead line.I then called back and immediatly asked for a supervisor and was trasferred to Lauren.I explained the situation to Lauren who was no help so I asked her and i qoute:DO YOU THINK THIS IS MORALLY RIGHT AS A PERSON FOR YOUR BANK TO DO THIS? AND SHE REPLIED : WE DO NOT SPEAK ABOUT MORALS HERE! Which at this time I am demanding for the money to be put back in my daughters account and was told she could not do this.So I asked for her supervisor and was transferred to the voice mail of Randy.
After leaving a message he did return my call.Randy did agree to wave the fees but not the $122.37 dollar transaction.Chase bank will not speak of Morals because they do not have any.They will take money out of your Daughters bank account even though the 2 accounts are not linked and to them this is all good.So anyone that wants to get there son or daughter to start saving money they make I would strongly discourage them from Chase.All they did was prove to my daughter that your money is not save in Chase Bank.
Ripped off daughter
New Washington, Indiana
U.S.A.
2 Updates & Rebuttals
Flynrider
Phoeix,Arizona,
U.S.A.
Edgeman is correct
#2Consumer Comment
Thu, April 02, 2009
The key to this dilemma is that you or your husbands name is on your daughters's account. That is the link which allows the bank to offset the negative balance in your account with money from hers. If she is 18 and no longer needs your signature on the account, she should close it and open a new account in her name only. That should keep this from happening again.
Edgeman
Chico,California,
U.S.A.
Right to offset...
#3Consumer Comment
Thu, April 02, 2009
What your daughter has experienced is known as the right to offset (your bank may use similar language). While your own overdraft situation was entirely of your making, I do sympathize with your daughter here. I'm not wild about how banks withdraw money to cover family member's mistakes. In short, the right to offset allows the bank to take money from one account to cover a negative balance in another account that is somehow related. For example, the bank may pull money out of one's personal account and apply it to a business account or a credit card or pull money out of a woman's personal account to cover her husband's negative balance. In this case, the bank noticed that your daughter had funds that could be used to cover your negative balance. As I noted, I really don't like this rule because it punishes one person for someone else's irresponsibility. I would advise your daughter to open an account at a bank that you do not owe money to. As for your overdraft situation, virtually every major ban that I can think of processes debits before credits and from highest to lowest. There's nothing inherently wrong with that and it doesn't cause one to overdraft provided that person stays within his or her account balance. It sounds as if you were attempting to float transactions until your next deposit. That simply doesn't work anymore. Best of luck to you and your daughter.
