- Report: #544878
Report - Rebuttal - Arbitrate
Complaint Review: Bank One - J.P. Morgan Chase
Bank One - J.P. Morgan Chase145 East 13800 South Internet United States of America
Bank One - J.P. Morgan Chase JP Morgan No cap on insufficient funds fees. They just keep adding them up, $15, $32, $35. Charged $192 in one day for less than that amount in actual charges Internet
*Consumer Comment: That monthly fee...
*Consumer Comment: No need to be rude..
*UPDATE EX-employee responds: Monthly charge for using debit card
*Consumer Comment: You are joking right?
*Consumer Comment: Yes, Really!
*Consumer Comment: Credit cards provide a bill.
*Consumer Comment: Yeah Chase!!
*Author of original report: Clarification
*Consumer Comment: I Mean Really
*Consumer Comment: an answer
*Consumer Comment: Really?
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Chase fails to tell you when signing up that your "debit" card is actually treated like a "credit" card. It will continue to allow you to "withdrawl" money that isn't there. I used my Chase debit card on a road trip across country, charging things like coffee for a $1, food for $4, so on and so on.
When I checked my account I had a negative balance of 800 and some odd dollars. Chase charged me about $630 in insufficient funds fees, you can do the math and see my actual purchases were way less than insufficient funds fees. I called the bank and told them this was outrageous, how in the world could they charge me that amount of IFFs on my amount for purchases. They told me there is no cap as to how much they can penalize me in one day or all together.
They did reduce the fees for me after a lot of phone calls, talking to different people, and stress on my end. I would recommend people don't use Chase. I told them that when my balance was $0 I would be closing my account. They told me I could get overdraft protection, I'll pass- and after reading other people's stories in regards to that, I know it doesn't really do you any good to have it. Just another way for them to make money.
My advice- go to a credit union. They are much better to deal with.
This report was posted on Ripoff Report on 12/24/2009 07:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-One-JP-Morgan-Chase/internet/Bank-One-JP-Morgan-Chase-JP-Morgan-No-cap-on-insufficient-funds-fees-They-just-keep-a-544878. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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