Chase makes money, you don’t

This came from a reader today.

I have been banking and investing with Chase for the better part of 30 years.
Ever since I’ve been invested with Chase the only people to make money off of my money is Chase.
Last March I was looking to invest a large sum of money in a money market, or just something that paid a little better than their savings account.
So she talked me into a 3% annuity. I told her I was going to use it to build a house in a year or so
and kept asking her what the penalty was to withdraw it, she said that I would just loose the last 3 months of interest. So come January 2023 I get a statement that says I loose ALL interest.
It wasn’t a Chase product, it was an insurance policy. My own personal ignorance screwed me I admit. But so did my bank, people that I trusted, I made sure I asked her if she was a fiduciary, she said she was. So I called the insurance company an told them I wanted my money and rolled over the rest of my investments elsewhere.
I don’t understand how such a long term customer moves most of money from your financial institution and not one phone call from a Chase representative,
By the way, Chase made over $9000,00 on my money last year while made less than $100.00.

Oh no, not again

Back in the start of the great recession, I was a Washington Mutual customer. I had such a bad experience with them, I started a website to tell everyone just how bad they were. But then, WaMu was taken over by Chase. It didn’t take long for me to experience just how bad Chase was and that motivated me to start to chronicle their bad deeds.

Well, time went by, I was no longer a Chase customer, and I kind-of lost interest in reporting on this website.

OH NO, here we go again!

Fast forward to 2023 and I found myself a happy customer of, gulp, First Republic Bank. I have nothing bad to say about First Republic, am well acquainted with most of my local branch staff, and have personal, business, and investment accounts with them.


So here we go again. I can only hope that Chase continues to allow First Republic to operate as a separate business unit and continue the great customer service they are known for. If not, I’ll probably be looking for another bank again.

If nothing else, I’ll have some new firsthand experiences to share here.

Local Creamery has beef with Chase Bank

You can’t make this stuff up.

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