WAMU/Chase Bank Excess overdraft fees, long hold on deposits, poor customer service. Alpharetta Georgia

Chase's deposit policies are pretty bad. Chase (unlike WAMU & that vast number of other banks) does not post anything in a timely manner. I fell victim to this & have since switched to a local credit union. In my case. I reviewed upcoming debits and transferred funds from savings to checking via the internet or at ATM machine. Along with deposits with a teller. Chase would hold the deposits for days on end (up to three days) meanwhile posting debits. Chase seemed to have a real problem posting just about anything. With Chase my online account was a large list of debits and credits just sitting in a pending status not posting for days. My brother even had same issue with Chase when he deposited a money order. Chase held that credit for up to 2+ days. This is a far cry from my current credit union that posts my debits and credits  in a timely manner.

I do understand that banks post debits before credits but when you transfer or deposit $ 24-72 hours before the debit even gets to the bank something is wrong.

Chase's online banking in regard to direct deposit is very confusing. Normally under WAMU my paycheck would post to my account shortly after 12:00am on the set debt. With Chase it this was not the case. The my available & current balance would show that the credit had posted when in reality it Chase was still showing it as "pending" on the balance sheet for up to 2 days.

I was able to get all my overdraft fees taken off after I made my case to the bank. Best thing to do is get away from Chase. No reason a bank, in this day & age, should hold credits for days on end. Again, with my current bank any deposit (that isn't for a suspiciously massive amount of money, etc...) I make is immediately posted to my account. Along with debits.

 Yea I am sure the bank will pay off $700 of fees just because you threaten Chase in small claims court.  Listen I am not advocating that something does not need to be done about the verbage when it comes to overdraft protection, however the child did not keep a register nor did he understand what protection that oeverdraft was giving him.  He is 19 and an adult he needs to understand how banks work.  He needs to read the literature when opening the account and make sure he balances his check book.  Transfer protection is the best protection almost every bank can offer and if he does not have a savings account or another checking account to set that up then def he needs to have overdraft LOC.  Good luck and I would definitely talk to a manager and see if they be able to help you out with some of the fees.

just take it to small clames court and the bank will most likely settle to refund the charges if they are getting sued. or look at this link http://www.youtube.com/watch?v=YjH4Us0n0QY&feature=player_embedded

There are three types of overdraft protection, that may have different names ta different banks:

1. Overdraft Limit - The bank will pay the item(s) up to a certain dollar amount, but you still get a fee for each item.

2. Courtesy transfer - The bank will transfer funds needed to cover an overdraft from a different account (savings or credit card). There is usually a small fee for this.

3. Overdraft Line of Credit - This is a loan, and you have to apply for it and be approved. If you overdraw, they advance the funds from this loan. All you pay is the interest on the funds you use. If you cover the OD quickly, the cost is often pocket change.

Your son certainly didn't have #3, and unless he kept another account with a good balance, he didn't have #2 either. He had the first option, and that comes with fees. At least he doesn't have merchants chasing him, because the bank covered him.

He is a perfect example of someone who shouldn't have or use a debit card. He lacks the account management skills needed, and definitely lacks a check register. Unless he can afford these kinds of fees, he might want to just use checks and cash, and a check register.

There are three types of overdraft protection, that may have different names ta different banks:

1. Overdraft Limit - The bank will pay the item(s) up to a certain dollar amount, but you still get a fee for each item.

2. Courtesy transfer - The bank will transfer funds needed to cover an overdraft from a different account (savings or credit card). There is usually a small fee for this.

3. Overdraft Line of Credit - This is a loan, and you have to apply for it and be approved. If you overdraw, they advance the funds from this loan. All you pay is the interest on the funds you use. If you cover the OD quickly, the cost is often pocket change.

Your son certainly didn't have #3, and unless he kept another account with a good balance, he didn't have #2 either. He had the first option, and that comes with fees. At least he doesn't have merchants chasing him, because the bank covered him.

He is a perfect example of someone who shouldn't have or use a debit card. He lacks the account management skills needed, and definitely lacks a check register. Unless he can afford these kinds of fees, he might want to just use checks and cash, and a check register.

There are three types of overdraft protection, that may have different names ta different banks:

1. Overdraft Limit - The bank will pay the item(s) up to a certain dollar amount, but you still get a fee for each item.

2. Courtesy transfer - The bank will transfer funds needed to cover an overdraft from a different account (savings or credit card). There is usually a small fee for this.

3. Overdraft Line of Credit - This is a loan, and you have to apply for it and be approved. If you overdraw, they advance the funds from this loan. All you pay is the interest on the funds you use. If you cover the OD quickly, the cost is often pocket change.

Your son certainly didn't have #3, and unless he kept another account with a good balance, he didn't have #2 either. He had the first option, and that comes with fees. At least he doesn't have merchants chasing him, because the bank covered him.

He is a perfect example of someone who shouldn't have or use a debit card. He lacks the account management skills needed, and definitely lacks a check register. Unless he can afford these kinds of fees, he might want to just use checks and cash, and a check register.

There are three types of overdraft protection, that may have different names ta different banks:

1. Overdraft Limit - The bank will pay the item(s) up to a certain dollar amount, but you still get a fee for each item.

2. Courtesy transfer - The bank will transfer funds needed to cover an overdraft from a different account (savings or credit card). There is usually a small fee for this.

3. Overdraft Line of Credit - This is a loan, and you have to apply for it and be approved. If you overdraw, they advance the funds from this loan. All you pay is the interest on the funds you use. If you cover the OD quickly, the cost is often pocket change.

Your son certainly didn't have #3, and unless he kept another account with a good balance, he didn't have #2 either. He had the first option, and that comes with fees. At least he doesn't have merchants chasing him, because the bank covered him.

He is a perfect example of someone who shouldn't have or use a debit card. He lacks the account management skills needed, and definitely lacks a check register. Unless he can afford these kinds of fees, he might want to just use checks and cash, and a check register.