Ripoff Report Needs Your Help!
Report: #623278


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  • Reported By: drjen — Mesquite Texas United States of America
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*Consumer Comment: Don't Buy This Crap!

*Author of original report: Chase

*Consumer Comment: Right to Offset

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In 2008, I banked with WAMU and Chase. When WAMU went under I owed them close to $250. I knew that I would have to pay them eventually after Chase bought them. No problem...They have never sent any info to inform me to pay them and that they were going to take it out of my check and save account. They simply emptied out both my accounts without notifying me. It was not much $81 in check and $55 in save, but that was all I had. I called and they told me that I still owe $106 so that when my direct deposit comes in it will be deducted from that. Ok, not a problem, but they could have waited and took it all out when money was deposited, or they could have taken half of what was in my account instead of leaving me with zero balance.

I think it is poor customer relations and once I am square with them I am changing banks. Sad to know that they have the power to take your money without notifying you.

This report was posted on Ripoff Report on 07/14/2010 07:17 PM and is a permanent record located here: 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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#3 Consumer Comment

Don't Buy This Crap!

AUTHOR: Bman - (United States of America)

POSTED: Thursday, July 15, 2010

Yes, that is what banks now do since the USURY laws are lax. Delaware is used to get past regular laws that most businesses and people need to live by. These USURY laws have been this way too long. Big Banks change the original reason why Delaware laws exist. I have just gone through the same thing and paid the accounts even when I could not afford food - Chase and FIA raised my rates. Watch the film MAXED OUT and you will see how the system works and how their intention is by plan predatory. You will see the same arrogance exhibited by the banker that made commentary to you - no doubt complicit in trying to defraud the public poor. The poor (or those that fall off budget) are the people that bring the banks their greatest profits. Look at how this is playing out - the big banks uses our money to make profits, then take bail out money from us, stabilize and then really jam it to those whose money they use for their profits. This cyclical approach to business is against the customer in ever single step is EVIL - regardless if it is done my one bank or all banks. It is an evil that is used to rationalize all other evils. The sad thing is banks use our money to enslave us. My suggestion is when you get out of the hole contact a small bank that is struggling like you, they can use your money - and let this jerk keep his/her bank! If all us little people put our money in credit unions and small banks we will begin to battle this blatant bid to condemn us to slavery. Proof; try to get a loan from these big banks! They have the funds, our funds, and yet they do not wish to invest in our future. This is the EVIL EMPIRE! Dont buy it that you should feel guilty. We all live one paycheck to the next.

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#2 Author of original report


AUTHOR: drjen - (United States of America)

POSTED: Thursday, July 15, 2010

Thanks for your opinion... Just that times are tough and now they made it tougher. They had two years to take the money when I had plenty of money in those accounts. I agree they have the right to take it; that does not bother me. It is just the fact they took every cent I had.

Have a great day

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#1 Consumer Comment

Right to Offset

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

POSTED: Wednesday, July 14, 2010

What they did was excercise what is known as the "Right to Offset".  That basically means that if you owe money from one account and have it in another they can use that money to "offset" the amount you owe.  Now, unlike other fees this is one where you really can't plan for it happening as to exactly when.  So it can cause other problems. 

However, your attitude really makes it hard to have much sympathy for you.  After all you are getting upset at them for their poor customer service when you knew you that you owed them money.  You have had around 2 Years to pay them back if you really did want to.  You say that they didn't send you any information to pay them.  Well I bet that they did.  When you first went delinquent I am sure you got letters and/or phone calls about the amount you owe.  But let's say that they NEVER sent you anything.  Why didn't you contact them if you really wanted to pay it back? 

Oh and I have news for you.  EVERY bank has that same clause in the account terms.  So if this happend at another bank, it would have probably been the same result.  Just like Chase, they wouldn't inform you in advance either.

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