Applewhite Posted June 19, 2010 Share Posted June 19, 2010 I have had a minor problem with chase before - that they resolved. Since then I have heard many complaints about them from people. How they try to screw you over any chance they get. I just realized they have been charging me $4 every month for a mysterious 'service fee' for the past 3 months. I asked them through an online message what 'service' have they been providing me and they said that I had to have $300 in my savings to avoid such a service fee. Is this normal? I have never heard of this - and maybe they changed it recently. Is there anything I can do about this? I am seriously considering closing all my accounts with them. Should I tell them this and ask for the fees to be taken off my account or should I just withdraw all money and just close the accounts without bothering to say anything. Although when I go to the bank they will probably ask, right? Link to comment Share on other sites More sharing options...
Miss Firecracker Posted June 19, 2010 Share Posted June 19, 2010 I'm sure it's in the small print, Hike. Try not to stress over this, it's very common. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 It's not stress, it is annoying. I want to know what service I was provided. Link to comment Share on other sites More sharing options...
Miss Firecracker Posted June 19, 2010 Share Posted June 19, 2010 It's just a penalty for being under a certain balance. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 This is what I wrote them: I have 3 accounts with Chase. I've always had more than $300 in my accounts at one time, and my accounts are linked. Therefore according to your own statement my 'service fee' should be waived. I have heard numerous complaints about outlandish fees and am now experiencing this along with your lack of customer service. You have failed to describe to me what 'service' I was provided for this monthly 'service fee'. I have accounts in other banks including TD and TFCU and they do not charge this 'service fee'. Unless all the service fees are taken off my account I will be closing all my accounts along with my Chase credit card. Best regards, hike14 Link to comment Share on other sites More sharing options...
renaissancewoman101 Posted June 19, 2010 Share Posted June 19, 2010 Can you have direct deposit into your account? I know if you have direct deposit (via paycheck or something of that nature), banks will usually waive the account fees. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 Can you have direct deposit into your account? I know if you have direct deposit (via paycheck or something of that nature), banks will usually waive the account fees. Already have it. They charged fees WHILE I had a direct deposit and over 2000 in my combined accounts. Link to comment Share on other sites More sharing options...
renaissancewoman101 Posted June 19, 2010 Share Posted June 19, 2010 Already have it. They charged fees WHILE I had a direct deposit and over 2000 in my combined accounts. that's odd. Normally they shouldn't be doing that. At my bank, they will waive the fees if you have direct deposit. I thought most banks were like that. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 More importantly I asked them what 'service' was provided to me so that they charge me a 'service fee'. They ignored the question. Link to comment Share on other sites More sharing options...
shes2smart Posted June 19, 2010 Share Posted June 19, 2010 That's their policy with savings accounts. That particular account has to have a balance of over $300 or you get hit with the service charge. Clearly stated in their account terms. I have my personal checking and savings, business checking and savings, 2 credit cards AND a home mortgage with them and if either of the savings accounts goes under $300, none of the rest of it matters, the monthly service charge shows up. The whole account fee thing is pretty much standard for banks. If you shop around, you'll find that out. Frankly, I hate dealing with Chase, but when I needed to open accounts for my business, I did shop around and figured out pretty quick that it was either going to be do my business accounts with Chase.....or move all the other crap over to a new bank. So Chase gets my business....for now. I'll be re-evaluating this when I get the credit cards paid off and it's just the checking & savings accounts and home mortgage. BTW, the business banking division scored zero points with me when I went to open business accounts and the guy pulled up my file and saw all the other accounts I had with them and said (trying to be funny), "Oh, so we basically own you, ha-ha." I was not amused. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 Honestly this is crap. And no it is not regular. TD and TFCU do not charge me. And haven't tried to screw me over two three times like Chase. This is the final straw. I am done with them. Good luck getting out of there yourself. It doesn't sound like you will be able to in this lifetime. Link to comment Share on other sites More sharing options...
shes2smart Posted June 19, 2010 Share Posted June 19, 2010 Honestly this is crap. And no it is not regular. TD and TFCU do not charge me. And haven't tried to screw me over two three times like Chase. This is the final straw. I am done with them. Good luck getting out of there yourself. It doesn't sound like you will be able to in this lifetime. Dunno what TD is, but the other one is a Credit Union and they are generally more consumer-friendly than banks. And there will come a day when Chase will do that thing that will be the last straw, and it'll be enough to motivate me to move everything in one fell swoop. That's how I am in most areas of life -- I put up with a lot of stuff, but when I'm done, I'm done and I move swiftly, decisively and without a lot of mercy. Until then, I play along with their account terms. I've switched banks...oh....2 times I remember...in the same way....and you can ask my ex-bfs how fast I moved when I'd had enough. lol. Right now moving most of my financial life would be a bigger pain in the butt than following their rules. Link to comment Share on other sites More sharing options...
jengh Posted June 19, 2010 Share Posted June 19, 2010 I switched from Chase. I had so many problems with them and 2 credit cards I transferred everything over to 5/3. I just got SO fed up. I was with them (well, it was NBD, then Bank One, then Chase) since 1st grade when I opened a savings but my "loyalty" obviously wasn't important to them I like 5/3 much better. I've found them easier to deal with. Link to comment Share on other sites More sharing options...
Applewhite Posted June 19, 2010 Author Share Posted June 19, 2010 I switched from Chase. I had so many problems with them and 2 credit cards I transferred everything over to 5/3. I just got SO fed up. I was with them (well, it was NBD, then Bank One, then Chase) since 1st grade when I opened a savings but my "loyalty" obviously wasn't important to them I like 5/3 much better. I've found them easier to deal with. What is 5/3 never heard of it. I googled I got: 5 / 3 = 1.66666667 LOL What did Chase do to you? Link to comment Share on other sites More sharing options...
shes2smart Posted June 19, 2010 Share Posted June 19, 2010 Just stumbled accross this article. Don't be surprised if you see banks charging more fees. link removed Link to comment Share on other sites More sharing options...
jengh Posted June 19, 2010 Share Posted June 19, 2010 What is 5/3 never heard of it. I googled I got: 5 / 3 = 1.66666667 LOL What did Chase do to you? Oh, Fifth-Third...it's a bank here. I thought they were everywhere. Apparently not hahah. Let's see... Chase has charged me SO many random fees that I've had to fight for (apparently, with my college account, I was allowed a certain number of overdrafts...but I never got them, I got charged up the butt every time).... and then there were the credit cards... I paid them off, closed the account, and several months later had freaking law offices after me trying to collect my debt that I'd paid!!! I'm STILL dealing with them. Link to comment Share on other sites More sharing options...
FuzzyKitten Posted June 19, 2010 Share Posted June 19, 2010 We have had nothing but problems with Chase. I don't have time to get into everything, but misc fees, taking forever to clear checks, losing deposits, depositing money into the wrong account, etc. I HATE them. Link to comment Share on other sites More sharing options...
mfan Posted June 21, 2010 Share Posted June 21, 2010 The sad truth of the matter is that banks still have not developed their computer systems to where they can handle any slightly complicated situation, such as linked accounts or even CLOSING an account*, properly. The computer system simply is unable to handle it. A bank like TD, whose whole philosophy is great customer service, will probably apologetically refund your service fees if you bring it to their attention, because they want you to be satisfied, but their computer systems will probably still have bugs that prevent linked accounts from working properly, and you will likely end up with the same problem if you open accounts there. Maybe not now, but sometime later when they institute a minimum balance fee ("service fee") The solution I recommend is to keep only one account, a checking account. It doesn't earn interest, but how much were you earning on your savings account anyway, with interest rates about half a percent now? On $1000 you earned $5 per year. It's not worth it. Keep your accounts simple. Keep your transactions simple. Don't do more than one transaction in the same day. Don't use linked accounts. Keep a buffer of money that you never intend to use, to avoid any possible overdraft charge. Don't use any "complicated" service that banks offer that hasn't been invented at least 10 years ago; the bugs have probably not been worked out yet. * I used to have two accounts at Bank of America, and I tried to close the savings account. The result? I had a balance of $-9.90 (negative nine-ninety) the next month end! This is because the system tried to credit me with 10¢ interest on the amount I had had before I closed it, and since 10¢ was less than the minimum requirement, they charged me a $10.00 fee. They apologetically refunded that money to me and tried again to close my account, but the next month the same thing happened! Finally, they had to completely cancel my entire profile and relationship with that bank (ALL accounts), and then create a whole new account for me. Ridiculous! Link to comment Share on other sites More sharing options...
Applewhite Posted June 21, 2010 Author Share Posted June 21, 2010 Only problems I've ever had are with Chase. I will close all my accounts there. Link to comment Share on other sites More sharing options...
mfan Posted June 21, 2010 Share Posted June 21, 2010 Here's some reading about problems with banks to keep you occupied (for about 1 lifetime...) Hopefully TD works better for you. Best of luck. link removed Link to comment Share on other sites More sharing options...
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