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Chase bank has put my parents account in the negative for returned items and insufficient funds in the tune of 2, 089.00. Whether the fault lies in bad processig bank procedures or negligence in keeping your checking account balanced is here nor there. I will not accept the fact that chase is in the right to take this money out, when they can see that it is putting them deeper in the hole further and further. He has overdraft protection, but these charges have put them in a financial hardship. He has not had a + beginning balance in the last two months and it seems like it will continue unless chase bank either waivers the amounts or gives them a refund of these unfair bank charges. (Which I am going to help my father achieve) first of all, do you think, this website or anyone that reads this could get this message to president obama? I would like to give him a message that the events that are taking place, at the present, to my mother and father's account has gone on for many years to all sorts of other people and it is of no surprise that it still continues to do so. The banks control in all levels of income and even individuals themselves. It is hard in accepting that they have the right to take out these penalty fee amounts without authorization to do so. And they have, but, the other day, they did something, that really I will not accept at all and that is, they had the nerve to take both my parent's 'stimulus checks" and pay the bank's charges imposed on them! We finally get a president, that I believe, is to achieve in helping bring back this economy back up on its feet, and doing so in the many ways he has already done for us. I just can not believe this world and the way it works, when it is right, for a bank, like chase bank, who, by the way, had some kind of handout in the bail - out, gets away with taking, a retired air force veteran, elderly couple of 77 years of age, fixed income, has come upon financial hardship because of one of the major factors being unfair bank charges applied and taken and second reason is due to recent amputation surgery and hospitalization... Stimulus checks! So mr. President, if you happen to read this, will you please see if you can do something about this, for them? I want all bank charges refunded and their stimulus checks reimbursed back to them, period. I have never voiced my opinion on worldy issues and I may disappoint you, in saying I have never voted before. I always rode the tails of that coat saying that one person is not going to make a difference, so why say anything. It is hard to believe in the system and the concept that it is really there working for you. I mean look what is happening to my folks! If it continues, it could effect them with more punitive damages. Fee's are charged to cover administrative costs for such right? So 2, 000 dollars or more, sure seems like alot of money, for letters, envelopes, stamps, and phone calls? And you gave them, or they took, a little extra money in stimulus checks to boot! Well enough is enough! I believe in you, please rectify this one, mr. President? Thank you monica wood phoenix, arizona my parents are antero olivares and mary e. Olivares phoenix, arizona p. S. I know the way this world is and the way people think. So with that being said, and a comment to the fact that I am not one to stereo type people by his name or color for that fact. I am caucasian, and my parent's too, and we are all natural citizens of the us. I'm sorry I felt I had to say that.
The complaint has been investigated and resolved to the customer’s satisfaction.
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If I've got this right, then your parents deposited a check into there account, that check wasn't good. Chase should have taken out the amount of the check that wasn't good. there is usually a small fee for a "returned deposited item" also if they wrote checks off of the money, thinking the check was good they could be subject to "non-sufficient funds charges" If your parents were the victims of fraud they may be able to get the bank to refund the fees, but not the amount of the check that was not good. However someone knowingly deposits a check that is fraudulent, or that they know is going to bounce they commit a federal crime. When someone signs the master account agreement then they agree to any fees that the bank charges. However if you go to the branch the account was opened at, you can usually get half of the fees refunded. Ask to speak to the branches manager.
The OCC (Comptroller of the Currency) is the federal agency which regulates National Banks such as Chase. Unfortunately this agency has done little in regards to making policies where National Banks should abide by State Regulations. The OCC appears to have a 'hands off' policy when it comes to the large National Banks. So in essence, your parents have little recourse. Chase does what it does because the current regulations allow it to. Ethics & Morality has nothing to do with it (in their eyes).
One piece of advice I can give is if anyone in your family has an account at Chase and Chase figures it out, Chase WILL deduct funds from the accounts of other family members to offset any debt your parents owe them. And the accounts don't have to be linked under the current 'right to offset' regulation. If it's a relative, Chase can go after them too. It sounds illegal that they can do this but the 'right to offset' gives them a lot of power in this regard. They have taken funds from a parents account to offset debts owed by one of their children, and vice versa.
I had closed an account with Chase in 2008 but still owed them for excessive overdraft fees which I refused to pay. Just this morning, I found that Chase had completely emptied my WAMU (Washington Mutual) account to offset the debt on the closed Chase account. (Note: WAMU was purchased by Chase this past summer.)
The only thing you can do is to inform everyone and anyone you know about Chase Bank's unfair practices and urge everyone to boycott JPMorgan Chase Bank. Contact your senators & congressmen and implore them to get the OCC of their butt's and have them start enacting better consumer protection policies for National Banks.
Chase has a problem with crediting accounts, particularly the accounts of minorities. Chase often wrongfully double the holds of minority deposited checks at their own discretion total;y disregarding their balances availability of checking account in bank account balances online and the minority presenting proper ID but all of these are thrown to the wayside because of slow deposit techniques like typing an account number in wrong or just plain not wanting to deposit the check due the the color of the person's skin. Another sneaky tactic they use is a delayed deposit high overdraft scheme. They accept the deposits with long waits for the credit and don't bother to tell the depositing customer of the check status until a week later when it bounces. The check could have been good for the 12 previous months and then bad for one month but the balance in some accounts are misleadingly trustingly low due to previous check clearings so the bank waits for the customer to make several charges and many of them are overdrafts when the check doesn't clear even though the bank could have check to see if the balance was there earlier. This false send of security often causes Chase customer to lose Hundreds of dollars in overdrafts the first time an employer bounces a check. Chase's extended minority check hold processing time only compounds the problem allowing the person to make more purchases with less real deposits.
Well Chase isn't the only bank, we are going to have to worry about in the days to come. I guarantee you, all the people in the world, are going to have difficulties in all aspects of financial securities . 401k's, bonds, stocks, mutual funds etc...to there own savings and checking accounts. TAKE ALL YOUR MONEY OUT OF THESE FINANCIAL INSTITUTIONS AND PUT IT UNDER THE MATTRESS WHERE IT IS SAFE AND MOST OF ALL YOURS AND YOURS ALONE. 2012 IS GOING TO COME SOONER THAN YOU EXPECT... You will start seeing these institutions, not wanting to give you what is rightfully yours. Sounds crazy? Believe me, I will be saying "I told you so". The Government is not and will not tell you what is going to happen in 2012 actually before then. God Bless You All... Anonymous ...
I totally feel your pain. I think you need to contact a lawyer. I am dealing with exorbitant NSF fees that have come out of my account. Chase back posted this fee of $105 which threw my whole account balance in the negative. I didn't know about it until I got the NSF letter in the mail 5 days later AFTER I had been using my account thinking I had money in there. Because of that, I had additional NSF charges. Total of $280! Now for a single mom who is on a budget, this is A LOT of money! I am furious and I am pursuing action!
What Chase likes to do is to recalculate NSF charges as they accrue. This I know. They stack the deck in their favor, explaining to you that they do it for YOUR good. Basically treating you like you're stupid. No matter what order the checks come in the restack them so that it goes from highest to lowest. So, if say, you had a $500 check clear, but left you with (7) $1.00 debits, it may look like this...$500-$500=$0
balance...then -$7.00 x $30 (for each 1 dollar transaction) for a total of minus $217.00 in the hole. Nice considering that Chase got a bailout from the very people it's ripping off. A massive bailout. Chase and other banks have no honor, and they never will...They are so big that they simply do not care. They are not true Americans IMHO!