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Report: #271882

Complaint Review: Chase Bank - Chicago Illinois

  • Submitted:
  • Updated:
  • Reported By: Chicago Illinois
  • Chase Bank 3956 N Sheridan Chicago, Illinois U.S.A.
  • Phone: 773-388-2453
  • Web:
  • Category: Banks

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I have been banking at Chase for several years and never had any problems. I had a checking account and at one time a one yea certificate of deposit. I considered myself a decent customer, certainly not a problem customer.

Recently, I decided to close out the account. I let it sit inactive with about $8.00 left in the account. I changed the account associations of my gym membership, AuctionSniper, PayPal, and I-Go Car Sharing, because they were all associated with the account. I wasn't sure if there were any other accounts that were tied to the Chase account, so I tried to go online and view my accounts' past several months activity to see if I could spot any other regular payments I might have missed.

At work, suddenly I could not log into my bank account. I got some security run-around that Chase was worried about me using different computers to access the account. Supposedly, they were sending me a new code and I would enter it and then it would work. Well it didn't work.

Okay, so I move on, after all I was at work. A couple of days later I tried from my home computer, and got the same problem. So, now I have no access to my account from any computer because Chase's security is flawed. What do I care, I'm closing the account, right? Incidentally, I signed-up for Chase's paperless program, to help them save money, figuring I can always view my account online, so I don't keep old statements at the house that I could have dug through.

A week or so goes by and I try my ATM card in the machine and see I still have the same $8.00 in the account, so I figure, I'm all set. It has been several weeks, and no forgotten charges, checks, or accounts.

A week or so passes and I get a letter that the account is overdrawn by $16 and they've added fees making it $41. I stop into the branch to see what's going on. The Chase employee, Tim, has me type in my SS#, and he shows me the $24 charge was from my renters insurance policy. I tell him, yeah, darn I must have missed that, and I explain how Chases computer security was partly responsible. I offer to pay the $16 and ask him to please waive the penalty fee. This would have been the first time ever in several years of having the account that I was asking them to waive a fee.

He tells me that they won't waive the fee, I already admitted that the charge was legit and if I only deposit the $16, then fees will keep piling-up. I give him two choices, either take the $16 and write off the fee, or reverse the payment to the Renters Insurance company. Tim tells me that they will not do either of those things.

So, I tell him if it's not going to make any difference and they're not going to be reasonable then they can try and come after me for it, and I won't bother even depositing the $16. He says that they will come after me. I leave.

After a few days I cool down and decide, you know, I really should just pay what I was overdrawn, the $16. At least my conscience will be clear that I paid my debts. If they want to fight it out over fees, I'm willing to have the fight on those terms.

So, I go back and deposit the $16, this time having another long conversation with an employee who explains how the fees will keep piling-up and they will eventually report me as an unpaid debt on my credit report. Hmmm. This sounds suspiciously like extortion to me, and I tell him that if they put it on my credit report than I'll contest it and we can go back and forth, and the question comes down to how much time and money they want to spend trying to collect fees and why they would want to upset an otherwise good customer.

He gives me the card of his manager and says I can take it up with him. I decided to post about it here, instead.

Paulk
Chicago, Illinois
U.S.A.

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This report was posted on Ripoff Report on 09/01/2007 10:54 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-bank/chicago-illinois-60613/chase-bank-overdraft-fees-border-on-extortion-chicago-illinois-271882. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#4 Consumer Suggestion

The mistake is yours.

AUTHOR: Mia - (U.S.A.)

POSTED: Saturday, December 08, 2007
Why would you think a big company, like Chase, would bother to come after you ? The renters insurance you signed up for was paid. You didn't have enough money in that account to pay your bill. The bank paid it, charged you for the use of their money to do so. Do you really think the teller or customer service person went back to a manager and, shaking in his boots said, "We really should reverse that fee. That guy is MAD!" The asking, politely mind you, for a special consideration is always a good step, you never know what someone might do to help you out. However, who do you think you are where a, "threat" to, "come after me" is going to do you any good? That employee is subject to the same account rules as non-employees. If they overdraw their accounts they have to pay fees. If accounts are left in a negative status the bank reports the person to Chexsystems. It is standard practice. So standing there displaying your ignorance, arrogance and self entitlement attitude to a person who had nothing to do with: A) your mistake B) the rules set by the bank, and C) has had to deal with lots of little creeps like you all day long was a huge mistake and miscalculation on your part. The old adage about bees and honey is true. Try it sometime.
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#3 Consumer Suggestion

Keep a written list.

AUTHOR: Robert - (U.S.A.)

POSTED: Wednesday, November 28, 2007
""I'm willing to have the fight on those terms.""

*Why would you chose to fight a fight you can't win?

""Hmmm. This sounds suspiciously like extortion to me, and I tell him that if they put it on my credit report than I'll contest it and we can go back and forth, and the question comes down to how much time and money they want to spend trying to collect fees and why they would want to upset an otherwise good customer.""

*Another question might be why are you chosing to fight a fight that you will most likely loose? Especially over such a small amount. It's not extortion at all. They are telling you upfront that they'll report it to the CRAs. It doesn't cost them that much extra to do this. They ALREADY subscribe to the CRAs and reporting delinquent accounts is automated. Then the get to make a "charge off" on their corporate taxes. Then they transfer collection to a debt collector who works for a percentage of what they collect. So, will they do this for $16? YUP!

And after they do report it to the CRAs, and your credit score takes the hit, who's gonna end up paying higher interest rates on future credit? YOU!

Who might get denied credit because of a low credit score? YOU!

Who might pay higher auto-insurance rates because of a lower credit score? YOU!

Who might start getting phone calls from a debt collector? YOU!

Who might receive a summons for civil court for the debt? YOU!

Who might file another ROR 6 months from now because "so-and-so" collection agency is harassing him? YOU!

All this for $16 and an overdraft fee that was not their fault or error?

I don't fault you for asking them to waive the fee - I would have asked. They declined - so be it. It's not extortion or a ripoff.

I would suggest that you maintain a written list of all automatic debits that includes the name, address, telephone number and account number of each payee. This way, when you close another account, you'll KNOW who you need to contact to make new payment arrangements.
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#2 Consumer Suggestion

LOOKS LIKE YOUR GOING TO HAVE TO BITE THE BULLET

AUTHOR: Billcoll01 - (U.S.A.)

POSTED: Tuesday, November 27, 2007
THE FEES ARE LEGIT AS THE PREVIOUS POSTER HAS STATED IT WAS YOUR RESPONSIBILITY TO MAKE SURE ALL YOUR DRAFTS WERE CHANGED THIS IS NOT GOING TO HURT CHASE THEY WILL PUT IT ON YOUR CREDIT AND WILL BE DONE WITH IT. I HAVE HAD MY OWN ISSUES WITH CHASE & I HAD TO BITE THE BULLET & PAY ABOUT 60.00 IN FEES ON A 0% CIRCUIT CITY ACCOUNT. THE BEST THING YOU CAN DO IS PAY IT & NEVER USE THE BANK AGAIN THATS WHAT I DID. IF ENOUGH PEOPLE DO THAT, THEY WILL END UP BEING BOUGHT OUT BY ANOTHER BANK
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#1 UPDATE EX-employee responds

Some thoughts....

AUTHOR: Ryan - (U.S.A.)

POSTED: Tuesday, November 27, 2007
It is certainly not the bank's fault you did not advise the renter's insurance company not to debit your Chase account. The transaction is valid, and therefore, so are the fees. It is stated in the terms and conditions you receive when you open the account. The bank paid that item AS A COURTESY, and for that you pay them a fee. You have many options to check your balance other than online. YOu can call in to the1-800 number, go into a branch, or use an ATM. This situation is completely your fault and the bank should not waive your fees.
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