With Chase, wire transfers are expensive

This gripe came from my mother.

With WaMu, outgoing wire transfers were free.

With Chase, outgoing wire transfers cost $45, about the steepest charge in the business.

My bank charges me $25 for sending a wire transfer.

With Chase, incoming wire transfers cost $11.

With my bank, incoming wire transfers are free.

I am unable to verify the fees because Chase does not make its fee schedule easily available (I can’t find it).

13 Comments

  • By coakl, January 12, 2011 @ 9:44 am

    If you go to Chase.com and pretend as if you’re going to open a checking account online, you’ll see the link for “Account Disclosures and Rates”. Click that and you will see a pop-up box with direct links to the relevant documents, including the one for fees.

    The best electronic way to move a large amount without fees is to have your “destination” process an automated clearing house (ACH) debit on your checking account. Example: having Fidelity debit your Chase checking account to move $1000 to your mutual funds. By having Fidelity “pull” money from your account instead of “pushing it out” (wire transfer), you will avoid the wiring fee. ACH does take 2, sometimes 3 business days; it’s not overnight like a wire.

    Beware of the external transfer feature that most online banking web sites offer. This is ACH but it is you “pushing” the money to your destination. It comes with its own fees, usually $3-$6 or so. If the ACH debit is done by an outside party (“pulled”), there’s no Chase fee. I don’t know why, given Chase’s appetite for fees, but I suspect the rules for ACH ban fees when the debit is done from the outside.

  • By Jason, January 28, 2011 @ 10:02 am

    Chase just up the price on outgoing wire fees for former Wamu customers. I believe it used to be free but now I just saw a notice saying it would be $25 Feb 6th. Chase is a greedy bank. We should be going after them, seriously. Why was the financial reform package so mutilated by Republicans!?

    ————–
    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

  • By p, February 9, 2011 @ 11:07 am

    @Coakl:
    > Beware of the external transfer feature that
    > most online banking web sites offer. This is
    > ACH but it is you “pushing” the money to your
    > destination. It comes with its own fees,
    > usually $3-$6 or so.

    I do transfers from my Chase account to a credit union, so this comment got my attention, but when i looked at a recent transaction, i didn’t see any such fee. Am i missing something? Here is a recent transfer for 1500 to my credit union.
    http://i.imgur.com/gZGCu.jpg

  • By ebmudder, February 10, 2011 @ 12:50 pm

    I just received a domestic wire transfer to my personal checking account and was charged $15 by Chase. I recommend you vote with your wallet (as I intend to), and say sayonara to Chase, Citigroup, and BofA. Find a local credit union or small regional bank where they respect you as a customer, instead of treating you like the goose that laid the golden egg

  • By admin, February 10, 2011 @ 1:13 pm

    Yes, there are far too many other bank choices that allow incoming wires for free to put up with a $15 fee, especially if you are a heavy wire transfer user.

  • By coakl, February 10, 2011 @ 2:42 pm

    @Coakl:
    > Beware of the external transfer feature that
    > most online banking web sites offer. This is
    > ACH but it is you “pushing” the money to your
    > destination. It comes with its own fees,
    > usually $3-$6 or so.

    >>I do transfers from my Chase account to a >>credit union, so this comment got my attention, >>but when i looked at a recent transaction, i >>didn’t see any such fee. Am i missing >>something? Here is a recent transfer for 1500 >>to my credit union.
    >>http://i.imgur.com/gZGCu.jpg

    That is odd. It could be a programming error by Chase back office.

    It would be strange for a bank like Chase to offer a free, easy way to move money online OUTBOUND to another financial institution. Well, milk it while you can.

  • By Kelly B., May 19, 2011 @ 8:25 am

    I was charged $25 for a wire transfer – my first – and when I called to see if they would remove the fee they could not because they said it was a disclosed fee. It’s included in the terms of use – which everyone reads of course! – and also prior to the wire transfer it says you “may be charged a fee.” There is no transparency. I have been a Chase customer for more than 10 years. I’m moving my money to another bank. This $25 fee is ridiculous.

  • By Charlie, August 13, 2011 @ 9:25 pm

    I recently opened a new account with chase (for the $125) and the rep said chase stopped charging the $3 fee.

  • By Anthony, August 31, 2012 @ 4:42 am

    Chase just robbed me blind… they charged me $40 to wire transfer $200 to a foreign account. What a bunch of crooks!

  • By Chris, September 23, 2012 @ 6:55 pm

    I recently received a wire transfer from my Mother, A wire transfer that I am grateful for but DID NOT ASK for. It was a complete surprise when I received the money that I so desperately needed. What also surprised me was a $15 Incoming Wire Transfer fee. Chase Customer support said that it was clearly stated in my terms and that I couldn’t refuse the funds but I could send them back to her but the fees would still apply. She already paid $25 to send it. I hope someone doesn’t have a wealthy enemy out there that sends multiple wire transfers to them for the minimum and drains their bank account.

  • By D Lauren, October 9, 2012 @ 3:29 pm

    Chase is horrific.
    They had a neighborhood branch…I thought I could go in and talk to them when they froze my accounts (when I was going through a BK)
    nothing…they were just plain mean.
    I tried to talk to them personally…but those days are long gone.

  • By Bahar, March 22, 2013 @ 11:38 am

    Chase is the worst!! They are delaying my international money transfer for almost a month without giving any reason.. They dont even bother to reply i dont know how i am gonna get my money. Avoid chase!!!

  • By lesha, July 6, 2013 @ 9:41 pm

    hey all these posts are absolutely correct …cause my friend did an ok international transfer for my to my account via chase bank and them take out money for my transfer I was left puzzle cause the amount of money sent wasn’t reflecting on my account now I come across this I realise chase took 15 bucks for them self and I still had to . Pay more money for the incoming transfer when it reach my bank again …they head’s can’t be good they are the worst .

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