I would like everyone to know about my horrible experience with Bank One. I opened an account with them in May of 2003, when I relocated to the Denver area. Everything was going well until a month ago, when my fiance had some paycheck "hiccups" (read: his company lost 3 of his paychecks), leaving us to survive on my paltry U.S. Military E-4 pay.
At this point, as life does happen, we ended up overdrawn by about $50. When my fiance finally did get one of his paychecks, we immediately cashed and deposited it, to get us out of the "negative" zone on our checking account. Thinking everything was okay, as my bank balance read I was well into the positive, we paid some bills. What a SHOCK when I checked my balance two days later to discover that I was charged a $120 insufficient funds fee AFTER my cash deposit.
Like a fool, I decided to write it off and just press on, thinking this must be an error on my part somehow. What a mistake.
The pattern continued: I'd deposit $100 to cover, they'd take $60 the same day after the deposit. The latest is that I deposited $400 in cash yesterday at 11 a.m, and even though my account again stated I was well in the positive range, we had another $180 stolen from us while we sleept. Again, the "Insufficient Funds Fee" was taken after the deposit had been made.
To put the icing on the cake, I called customer service today, in an attempt to get an answer, and instead had the rep sit there and read off all the transactions i had made, snidely telling me that there is a $30 FEE for each transaction that took place in the "insufficient" zone, even if it was for $7.35.
I am in no way blaming Bank One for the mess up that occured with my fiance's pay, as they had no part in that. However, I am absolutely appalled at the amount they feel justified in charging someone for one $7.35 transaction, especially after they deposit over 4 times what they were overdrawn in cash to try to make it right.
The conclusion I'm brought to is, Bank One and JP Morgan are a horrible company, if they can sleep at night after ripping thousands of working-class people off each day. I will be closing my account as soon as possible, and I'm spreading the word far and wide... if you value your money, don't trust it in the hands of Bank One.