One customer, after having switch to online only estatements, and some time later having become disillusioned with Chase, closed his account, found that he couldn’t access old statements online anymore. So he called Chase, and they informed him that his account was closed and they couldn’t help him. So he mentioned that he could go in to any branch and pay $5 per statement. Shouldn’t they have mentioned this? No, the replied, it’s $6 per statement.
Oh bother.
We received this great not from a reader:
I just wanted to say that your website and the Move Your Money Project really got the ball rolling for my husband and I. We were only with Chase for a few months when it became apparent that we weren’t fans. They even managed to close our savings without us knowing.
We are in the process of moving everything and we’ve opened an account at a local credit union.
I hope more and more people are realizing the rip-off that Chase is.
Keep up the good work.
It’s not too late to become an ex-customer of Chase!
Marketplace.org recently did a profile story on Umpqua Bank, and describes a bank that is hip, honest, reasonable, and wants to be different than what a normal bank has become. Here is what one customer has to say about them:
Staff is very friendly and courteous, and they have a lot of little perk things about what’s going on in the neighborhood. So if I need to know something I come over here and ask.
First Republic Bank, while perhaps not as hip or connected to the community, is also a bank that tries to create relationships with customers and goes out of their way to solve problems.
The question is, why are you still banking with Chase or Bank of America or another big bank?
Chase, seemingly looking to punish customers for new regulations they claim are eating into their profits, is discontinuing new enrollment in its debit card rewards program.
Full story here.
To characterize just how far Chase has come from being personal as a banking institution (you know, what banks used to be like), they are trying to foreclose on the home of a woman whose husband was killed trying to sell jewelry over Craigslist to be able to make their mortgage payments.
Nice going Chase.
CNN recently named the 8 least evil banks. Guess who didn’t make the list? Yup, Chase.
From the horses mouth:
Dear Online Banking customer,
We’re writing to let you know that, beginning February 6, 2011, you’ll pay a $25 fee for each online domestic outgoing wire transfer you make.
We’ve updated the Wire Transfer Services Agreement to reflect this change. The updated agreement will be available online on or after February 6, 2011. You can review the latest agreements online anytime by logging on and clicking the ?Legal Agreements and Disclosures? link at the bottom of any page. Your continued use of the Online Service acknowledges your agreement to these revisions.
Thank you for banking with Chase.
Sincerely,
Chase Online Banking Team
I surely would not what happened in this story past Chase: The customer claims that they made a payment two weeks early but Chase held the payment and then claimed it was late, as a way to jack up the customers rates, possibly because they customer had a high balance.
For example, our Chase Visa which they changed over to Chase “Slate” Visa went from 14%, to 16% to 18% finally all the way in one fell swoop in Jan ‘09 to 29.99%, the maximum allowable by law. Their reason? We were late on our payment, we called our bank to ask how a payment made 2 weeks in advance was somehow late? Their response, Chase held the payment until after the due date, then processed it.
This is illegal right? Not at the time it wasn’t, Chase claims they did no such thing and basically said prove it. Anyway fast forward to Jan ‘11 and I’m still fighting to get our rate lowered since we are NEVER late and they know it. Their response and this is a direct quote “It is not Chase Bank policy to adjust interest rates at customer request”
Bad bad Chase | admin February 2, 2011 | 
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