Does Chase actually protect your money

This customer’s experience along with other comments we’ve gotten seems to indicate that Chase let’s fraud go unchecked and locks down accounts due to normal activity which they call fraud.

Last June my wallet was stolen with my drivers license, chase debit card and another credit card. Police report was filed, cards and accounts closed. Six months later the thief had the nerve to walk into a Chase branch hand over my ID and debit card and the teller gave her $2K of MY money. 1) The card she had was closed and reported stolen to Chase 2) the address on the license no longer matches the address on record at chase and 3) she didn’t know my account number BUT she was able to withdraw MY funds.

I had a similar experience 10 years ago where I had a joint checking account with an ex, we closed the account and both opened individual accounts.  A few months later I noticed a large withdrawal I didn’t make. When I asked to see the slip sure enough it had my ex’s signature on it. How could a teller (this was not theft or forgery) give someone not on my account MY money?  I should have learned my lesson from that experience not to bank with Chase.
When I reported what happened with the identity theft the Chase employee seemed shocked that I didn’t want to open yet another account with them.  Sorry Chase, ATM convenience doesn’t win over security.

I’m also disgusted that Chase’s attitude was “it’s ok, we see this all the time,you’ll get your money back”.  Really? and we wonder why banks are broke – they let criminals walk out with customers money because eh, so what? FDIC insured! I’m ready to start burying my money in the backyard.  with .05% I see no difference, other than its probably safer in my mattress than with Chase bank.


  • By Bill, December 22, 2012 @ 4:45 am

    Hello ~

    I opened several bank accounts with Washington Mutual Bank (Now J P Morgan Chase Bank) several years ago. 

    These accounts have been dormant since I opened them except for a few legitimate transactions, and numerous fraudulent transactions, that Chase Bank has allowed to occur since I made them aware of this, and asked them to close the account one year ago, when I was notified by a police detective that somebody had a fraudulent check with my account number on it. 

    I have sent Chase Bank more than 65 emails and facsimile transmissions over the course of the last year, in addition to making several phone calls to them, requesting that the account be closed to prevent these fraudulent transactions from continuing to occur. 

    Despite these numerous requests, Chase Bank did not close the accounts, and in fact allowed the fraudulent transactions to continue to occur. 

    After Chase Bank allowed these fraudulent withdrawals to occur for a year, despite my repeated requests to close the account to prevent this from happening, they finally credited one of these accounts for less than one half of the fraudulent transactions that have occurred. Of course the fact that Chase Bank applied this partial credit very clearly indicates that they are admitting that they allowed this fraud to take place.

    Of course a full credit needs to occur with this account, as well as with the other accounts. 

    Chase Bank was presumably mailing statements to an incorrect address, and I was not allowed to view statements online as I have been in a remote area of the Philippines for the past 5 years, and Chase Bank had an old email address on file, which did not allow me to complete the online banking application, in order to view the account statements that were never mailed to me. Chase Bank never updated this email address to allow me to view online statements despite numerous requests to do so, until November of 2012. 

    The bottom line is that Chase Bank owes me the balance of fraudulent transactions that they allowed to occur with respect to the account that they applied a partial credit to, and the same holds true with respect to the other accounts I had with Chase Bank. 

    If Chase Bank continues to refuse to return my money to me, and forces me to litigate the matter, I am pretty certain that there are prior judgements that have been rendered against Chase Bank for them allowing fraudulent transactions to occur to their customers accounts, and I suspect that there are numerous other instances where Chase Bank has allowed this to occur, that have not been pursued by Chase Bank customers, so needless to say, I think the potential for a successful class action lawsuit is great.

    Any suggestions are greatly appreciated.

    Thank You & Best Regards ~

    Wayne Phillips, Owner,
    Medical Legal Consulting Services

  • By Yan, January 5, 2016 @ 3:54 am

    I got a check in a business dealing from a friend who works as a freelance programmer and gets paid like this, with large checks, often but he doesn’t hav any bank accounts to check it
    Any way back to the point, I go into a chase branch doing other banking and I inquire about checks, in general, and if they just need to be endorsed, which I saw him do, she says yes and I show her the check and asked if there were any problems with this check, she takes it … she comes back without it and I again ask her if there were any problems with the check and she’s says no and everything was good. I never agreed to cash or deposit it they just did it. Later when I go to get it im told the fraud department retracted it for unknown reasons and come to find out there were obvious mistakes on it and it was older then some limit and they shut down my account making it impossible for me to pay my rent. So theres a lot of other stuff going on but long story short I don’t care about getting the money or my account really im just worried they will call the police or affect my credit or something else really horrible. Do u think they would call the police in an incident like this or You think I should call the police non emergency and tell them or maybe a lawyer then the police. Pleaze halp

Other Links to this Post

RSS feed for comments on this post.

Leave a comment

WordPress Themes