WORSIEST BUSINESS I'VER KNOWN OF

Last edited about a month ago by fuckchase

I am a retired American citizen, living at an ashram (spiritual retreat) in India for the last more than 15 years.

Last October, Chase Bank returned as “unpaid” a check I had sent for deposit to my other bank in California—as a prelude to closing my Chase account.

In December, when I sought to withdraw funds here using my Chase ATM card, I was told the transaction was blocked.
When I sent a request through my on-line account to learn the reason my withdrawal was blocked, Chase told me to telephone “Operating Prevention Loss.”
(Chase has repeatedly avoided stating anything in writing. It is quite clear that their actions are morally—if not legally—indefensible and that they are trying to avoid leaving a trail of evidence.)

When I telephoned Chase Bank’s “Operating Loss Prevention,” their representative told me they had closed my account and sent a check to me here by regular mail.
(From the time they blocked my check to my other bank, Chase Bank waited more than 52 days to take this action.)

Chase Bank gave me absolutely no advance notice of their intention to close my account. (As a direct result, my other bank charged me a $20 “returned check” fee.)

Chase Bank has repeatedly ignored my requests that they state the reason they closed my account.
Chase Bank has also effectively made it impossible for me to view my transaction history on their Web site. My account details are no longer displayed.

As of January 29th, I have still not received the check from Chase Bank.
(Mail between the U.S. and India typically takes 10 days—and rarely more than 14—to arrive.)
I have effectively had no access to my funds FOR MORE THAN 100 DAYS.

It would be absolutely impossible for me to open a new bank account back in the U.S. from here in India (if and when the check ever arrives)—and I have no plans to return to the U.S. for several years.
I no longer have enough funds here to buy a return air ticket.

I have done absolutely nothing of an irresponsible or unprincipled nature to justify Chase Bank’s forced closure of my account.
Chase Bank is merely—and very ruthlessly—dumping their poor customers overboard to maximize their profits.

Beginning in 2007, I received a series of notices from WM Financial Services (since renamed Chase Investment Services Corporation) stating that I must close my account (in “Ginnie Mae” securities)—for the stated reason that I reside in India.
I deliberately ignored these notice for several reasons:
1.At the time I made the investment, WM Financial Services knew that I resided in India and that my investment was quite small.
2.The real reason that they wanted to close my account was the small size of my investment—not my place of residence. (If I had had a million dollars to invest, I am sure they would have found a convenient way to circumvent this rule.)
3.It would have been impossible for me to reinvest my funds while I was residing in India. As a result, I would have suffered a total loss of income.
4.WM Financial Services made no consideration for the probable loss I would have suffered between my original purchase price and the market price at the time they demanded I sell those securities.
5.The securities were subject to a penalty for early sale. WM Financial Services never addressed this issue in their notice.
6.I was strongly suspicious that, had I sold these shares at that time, they would have invoked this penalty—and merely ignored any objection I would have made. (My suspicion was subsequently justified.)
7.There was a blatant double standard in their demand. Had I behaved in such an arbitrary, ruthless, unprincipled manner, they would have wacked me with a heavy financial penalty. When they behave in such a manner, they walk scot free.

Finally, after a couple of further notices, WM Financial Services forcibly closed my account. Moreover, they charged me over $200 for the early sale of my securities—a sale which they had forced upon me!
After I filed a complaint with the U.S. Securities and Exchange Commission, Chase Investment Services offered to reimburse me for the penalty and my small loss of income—and closed my account.
I referred to Chase Investment Services Corporation as a “who** of a company” for the way they had dealt with me—and accepted their offer.

It strongly appears that there is a willful, malicious intent behind Chase Bank’s forced closure of my account with their bank (and now, more especially, their negligence in securing delivery of their check to me)—for my being “uppity” in not submitting to their earlier arrogant, unscrupulous behavior surrounding the forced closure of my investment account.

Chase Bank has created utter havoc with my finances—and my life in general.
It would be quite easy for a person to “fall through the cracks” here in India. In only slightly-different circumstances, Chase Bank’s forced closure of my ac

This review is referring to Chase - United credit card. I have been a member since 1999 (11 years) and I am very, VERY upset with there service. It is terrible! I would recommend people to get cash back instead because you usually need around 130,000 miles for 1 plane ticket and if you multiply 1% by 130,000, you could just buy your own ticket cheaper! If you have good credit, even better you can get 3% cash back. I'm going to do that! Stupid chase, rude and terrible service. They obviously do not know how to keep customer loyalty, HAHA!!

I have had such a horrible experience with Chase, I had been with Wamu for over 15 years and I'm closing all my accounts with Chase after so a short amount of time. Their banking policies are ridiculous and seem to charge the customer at ever chance they can get. I deposited a check in the afternoon and they do not put it in your account until the following day. I got an overdraft for being .42 cents overdrawn but I had the check already deposited. Some things go through your account next day and others transactions can take up to five days. With Wamu it was always two days. They blame it on the place that you used the card but my experience is that this bank watches out for itself and not its customers. I tried to talk to them and they told me I need to handle my money better. I guess depositing a check doesn't count anymore. I want Wamu back!!!! I will be switching banks as soon as I'm not so upset. I never get upset so for me this is a first.

We had an unauthorized transactions in pending status occur on our account. We called the banking letting them know that the transaction was unauthorized and we wanted it to be blocked. The operator told us that we had to wait 48 hours and call back to report it and provide the information for the report...there was nothing that could be done before the funds came out of our account. The bank told us that the transaction came from our timeshare company and it was authorized and they would not proceed with the our request and the NSF charges that resulted would not be reimbursed. I tried to explain that that vendor does not have my husband's card number and the name stated on our statement is not the name of the timeshare. The operator hung up on me. I called the timeshare and asked them about it. They let me know that they do not use a third party for any collection purposes and do not have my husband's card on file. After getting a written statement from the timeshare and mailing in the debit card information the bank finally reimbursed us for the unauthorized transaction and gave us most of the NSF fee back. We are still working on getting the remaining funds back and its been 4 months. When we finally get this settled, we are enthusiastically gong to close our account.

Hate this bank period.

I hate this bank I deposited money via atm two months ago. it was cash and a check, yeah i know bad idea but ive always done it so i figured hey wth. so a week later they deduct the cash from my account telling me that i never deposited the money. i filed a complaint with the complaint department and they issued me a credit a few weeks ago they took out the credit from my account and caused me to overdraft. i had a bunch of purchases that shouldve been covered but they took their money first then my purchases and added an overdraft fee for each purchase. now im negative more than four hundred dollars. when i called and spoke to someone they told me to call back in an hour i did they said another hour i did. finally they told me to call back in a week and maybe they would open up a new account and see if they could find my money but that they couldnt assure me of anything. im thinking of giving up all together and paying what i "owe" and just opening a new account somewhere else any suggestions?

Less than ZERO rating really. After having been a loyal above average customer with WAMU for years, this customer-service-less conglomerate calling themselves JP Morgan Chase commandeered my account with extortion-like behavior. Skyrocketed the interest rates, etc. They even put through charges on my cancelled card weeks after having reporting it stolen. They ignored all requests to reverse or investigate these charges that shoudl NEVER have been put through on a CANCELLED CARD. Then they charged finance fees, and soon late fees on these fraudulent charges, all while ignoring my requests to cease as well as investigate. Hence, I have since twice demanded they cancel my credit card account. Finally they answered a letter/email - my last request to cancel my account. They claimed in an email to have closed my account. Then a few days later I received a snail-mail letter stating that because I only use 1/3 of my credit with other cards (how dare they look into my other accounts with other institutions!) - they were lowering my credit limit and didn't even address the fact that they stated they closed my account or that I requested to do so.

I plan on forwarding copies of all to the Federal Banking Commission, though I wonder if anyone will care. It is sad that so many banks have gone under while this monstrosity survives, and leaves us with so few options - kind of close to a monopoly. . . . is that legal?

Last edited 3 months ago by sailmary

I have absolutely had it with my credit card company, JP Morgan Chase. Every month since the banking disaster I have a problem with my account. I pay in full every month and just today ended my long term relationship with this company. I made a payment over the phone on 11-12-09 because once again I couldn't access my account online. Twelve days later I see my payment never went through while looking at my checking account. I call Chase and they take my payment, reverse the $39.00 late fee and reimburse me $7.37 in finance charges. Today I called them because I see another finance fee of $11.29. They refused to reverse it and without a pause, at my request, cancelled my account. What a poor example of customer service. If I could have rated them zero, I would have.

I opened a Chase credit card for Amazon (love Amazon). I've only had the card for a little over a year, customer service is worse than having to talk to an automated system. Very unprofessional and unreasonable. I make all payments on time, I carried about 1/3 of my credit limit all year. Apparently they thought because of this that I didn't have the money to pay it. They raised my interest rate stating it was "due to the economy". Customer Service said the same thing (talked to 3 different reps), that all said "If you have a problem paying your bill call this number" Unfortunately they couldn't comprehend that wasn't the issue. Due to the economy interest rates have fallen! And I'm not paying 20% when there are much better offers out there. Thank God I don't have to. If this company doesn't try to keep good customers they must be making money off of those poor people who can never get ahead because of unethical companies like these. They won't get another dollar of my money.