Rant: Are you a Chase Bank Customer?

[Accordlover]

Here I go again. :lmao:

Until yesterday, I was a very happy Chase bank customer. I have my checking and my savings through them, and I absolutely love their online banking.

Sounds great right?

I recently relocated from Austin Texas to New Orleans Louisiana, mother also relocated; for a job with the federal government. Before this move, she worked for the State of Texas Supreme Court. After her resignation, she was asked what she would like to happen with her retirement. Some was transferred to the new job, and the rest they would cut her a check for. The other day she received the check. It was for a hair over $10,000.

Now, a few weeks prior to this she deposited a $5300 check, they gave her a receipt that stated there would be a hold for 14 days on it. However, they deposited $100 of it immediately. Assuming this might be the case again, she called a local branch to verify the situation with large checks and personal accounts. They said it was dependent on who the check was from, and that she could ask the teller at the bank she deposits it at to know the details.

Now, before I go on, this is a check from the State of Texas Retirement System; I for one saw no reason to hold a check like that.

The teller at the branch she deposited the check at confirmed to her that there would be no hold due to it being a state government check. 2 Days later, it posted in her Chase Checking. the available balance included the check and it was not pending.

Thinking she had $10k + in the bank, she paid bills, bought some things etc. This morning, she sat down at the computer, went into her Chase account, and saw negative $1650. There was no sign that the check had been removed or held, but the balance in the statement online was blank next to each transaction. This freaked her out. (I can only imagine why!) So she called Chase, they told her to contact the manager at the branch where she deposited her check, and go from there.

Well, this branch doesn't have a manager at the moment, so there are people acting as manager right now. One of them, is dealing with my mom's situation.

After my mother using her very frustrated nasty tone as I call it; to explain how wrong it is to have someone think they have that much money in the bank and then hold a check without even calling, e-mailing, OR posting a note on her online account. Their defense was that the people in the back of their offices made the mistake. (Who's fault is that!?) Initially, she said it would be available on the 23rd. My mother being the legal eagle said no, that's not how it works and basically went technical on her like nothing I've seen before.:paranoid:

The woman began to agree, and was now acting as if this was normal practice to do this to people. she did however promise to try and get it in as soon as she could. Still, there's no date on that, and there are things that will go through, and returned check charges that will be posted; my Mom won't pay a cent of it she says.

So right now, I'm basically typing this to hear if this has happened to anyone before? It seems oh so filthy and wrong to do this to someone. Just not cool.:thumbsdow

Do you love/hate Chase? Why?:dunno:

My head is about to pop off.:lmao:

[stevencrosbie]

Makes me glad I have USAA.....:)

[Accordlover]

Makes me glad I have USAA....

Apparently the Fed Government doesn't offer anything but savings to its employees.

The State of TX had a Credit Union. They were alright.

[joerockt]

Dont you have homework to do? Girlfriend? Sports? Its amazing the crap you care about at your age...And by amazing I mean ridiculous...

[2007EX-L/NAVI]

Usually a bank will try to clear check's, ACH's, debit card purchases, etc twice before returning them. Your mom will be fine...Just chill out...

They have the ability to pay all of her item's clearing her account even though it may be negative even if it was their fault. They will take care of the overdraft fees, and the situation will be solved...

Just not sure what would make your mom think that she would have the funds available on 10K if they held 5k???:dunno:

[Accordlover]

Just not sure what would make your mom think that she would have the funds available on 10K if they held 5k???:dunno:

The 5k was from the people who leased our house in Texas. The 10k was from a state's government. Big difference.

[Accordlover]

Usually a bank will try to clear check's, ACH's, debit card purchases, etc twice before returning them. Your mom will be fine...Just chill out...

I know she'll be alright :).

I just have an issue with the way the bank handled the situation. They were supposed to notify her if they were going hold the check. The people at the branch confirmed this.

[samsonskeg]

Oh yes! Another Chase bank haters! I use to bank with them and I could never get a straight answer, always the run around. Now, I do all my banking with PNC. I have never had any issue with them.

[princess]

when ask opinions, you may not like the answers..............:)

banks often put holds on deposits for 5-10 days if it's an amount not normal for the account. Like a large amount from a loan, income tax check, etc. If the amount is more than the adverage balance, then it's considered very normal banking practice.

I LOVE chase, from our experience. Although we don't bank there, but have had credit with them.

Bank of America ALWAYS runs debts before credits when they come in on the same day. Has caused problems for many people!

Washington Mu takes 5 days for regular paychecks to clear if using the ATM for deposit instead of going inside. THAT was icky!!

We've had Wells Fargo since 1983. Only minor issues. No holds for us. Some I expected that didn't happen.:dunno:

* Checking the balance BEFORE using it is helpful.
* New customers, new accounts, large amounts get treated differently.


Sorry, kiddo, but THIS time I really do think you're worrying about things too much. Your mom is a smart cookie, I'm sure & will get it all straightened out pretty quickly. I'm sure she'll also get the bank to reverse any charges for overdraft.

[2007EX-L/NAVI]

The 5k was from the people who leased our house in Texas. The 10k was from a state's government. Big difference.

Umm...not really:yes: You don't think the government has ever had to cancel a check??? Without letting you know about it??

Trust me, i'm sure she didn't have enough funds in her account to cover either of the checks or they wouldn't have taken a second look at it...

They just want to collect the money before she goes and spends it all...

[psyshack]

The wife and I stay with the local banks. None of this mass market bs big ad we want to screw you out of your money banks.

We deal with two banks. One is a local home grown Okie bank. The other a regional Arkie bank. We have a joint checking, savings and investment acct's with both. We have no service or check charges. Massive over draft protection. Very personnel service. No holds on checks deposited.... None of that crap! People we write checks to don't get hassled or have to pay a fee to cash the check. Like so many now are doing. Take Gold Bank in Tulsa. The bank we use where I work. If I wanted to cash my payroll check there. They will charge me 5% to cash my check at a there bank the check is drawn against. Money due me by my employer. Our new CFO at work left the banking industry to come to work for us. She was so upset with the general trend of the banking industry she couldn't live with herself anymore and had to leave it.

My Arkie bank lets me invest in projects they are funding. Say a new building is going up and they are backing it. I can throw a couple of grand in a acct. to back the banks pot and lesson there investment in the open market. For this I can at times get a nice return over 6 to 12 months. and not loose a dime if it all goes bad. With this bank I have a major credit card. With ubber low intrest. Well below prime. I lucked in to being a member when we still had a usery law in Arkansas. Limit is set at what the bank is willing to back you on from there liquid funds.

It can pay to shop the mom and pop banks in your area. And I mean shop them. I once had a banker tell me. If Im not making money with your money every sec. your money is in my bank. Im not doing my job! and if you don't get a part of the money I make with your money I need to be hung. I never forgot that. :) And live by it.

[Accordlover]

Umm...not really:yes: You don't think the government has ever had to cancel a check??? Without letting you know about it??

Trust me, i'm sure she didn't have enough funds in her account to cover either of the checks or they wouldn't have taken a second look at it...

They just want to collect the money before she goes and spends it all...

I understand the logic. I just didn't think a check for someones retirement (aka money they OWE her) would be cancelled. Who knows though. It's probably just taking its course.

Like I said before. The issue is communication. The avail. bal. included the check. Then the next day, it just vanished, yet the deposit and the amount was still there. My point is basically that they're supposed to let the customer know.

Psy,

We both had local credit unions in Texas, here the banks are being bought up one by one by Chase, so our options are rather limited. I will do a little looking just to see though! I appreciate your post a great deal:thmsup:.

[edwilson13185]

The issue is certainly communication, but this can happen with any bank. I had U.S. Bank bounce a $3,000 check on me--I had written the check just before I lost my wallet. I contacted U.S. Bank and they closed my account and opened a new one so nobody could use the old one. They assured me the check written on my old account would still be cleared, but it was returned.

It was their fault--they admitted it. And they fixed it. They cleared the check, cancelled their overdraft fees, paid the returned check fee of the company I was doing business with, and wrote a letter to the company stating that it was their mistake. And, to my surprise, they even gave me a $20 credit to my account for the trouble. If Chase reviews the situation and finds that the mistake was indeed theirs, I'd suspect that they'll rectify the situation. I was more than satisfied with how U.S. Bank handled the situation--and they've gained a lifetime customer because of it.

Be professional and courteous with them at all times. Also remember that any institution operated by humans can and will make mistakes. Don't lose sleep over it.

[justblink778]

try capital one. they're all over nola and i haven't had any issues.

p.s. -- there is a Capital One ATM in Pat O'Brien's patio bar in the french quarter, very convenient and fee-free for those late night outings :)

[alpha]

Dont you have homework to do? Girlfriend? Sports? Its amazing the crap you care about at your age...And by amazing I mean ridiculous...
I agree. It definitely shows maturity, but at the same time, don't grow up too fast. Enjoy being young while you can.

[Davisio]

Unfortunately, this kind of situation is too common.

Many institutions have taken the human out of the equation and allow the computer system to make decisions. That is probably what happened here. It read the routing number, determined an out of state situation (hence default 5 business days), and placed a hold on availability.

[Accordlover]

It's fixed.

I'm still not happy it ever happened though. Money means more to some than other though I guess.

[RTexasF]

I made a large deposit to Capital One (local branch) via check from IBC (also local branch). I asked how long it would take to clear since a phone call would confirm the check was good. I was told two days. Eight days later I got mail from Cap One stating the deposit would take seven days to process......gotta love it. This was an experiment and it turned out just as I thought it would, the tellers don't know SQUAT!!

For years I have gone to the bank Pres or Vice Pres and gotten approval/confirmation of large deposits so they would be immediately available. Cap One flunked so I'll have to do the same there.

That's just the way it is these days.

[messfeeder]

This could be an issue of the branch, not the entire corporation. But, if your local branch sucks then why stick with 'em if you have other choices?

I have heard that when you have credit with Capital One, they run your credit report constantly so that it lowers your score so that other companies won't give you good credit options. Kinda shady. I closed my credit card account with them and got a Chase card. Immediately my credit score jumped sky high and I started getting low interest fixed rate offers.

I also like my WaMu credit card because on my account they tell me what FICO is reporting my credit rating as.

For banking, I use the local credit union.