topic Re: BEWERE chase loves closing accounts in Personal Finance

BEWERE chase loves closing accounts

Anonymous — Tue, 12 May 2020 01:01:33 GMT

When opening an account, do you read the whole licence agreement?

you answerd no, right?

Who has time to read 100 pages in a bank by a bankers desk? You just click agree, or accept, right?

The banker even tells you 'you don't have to read it". (I asked him what if I want to? he said, then i'll go take a nap and be back in 45 minutes)

So, I did't read it. but if I would have, my account would probebly be in a diferent bank.

Now they closed my account, reason? they suspect fraud.

BTW legally don't have to explain, since I clicked accept.

Ask around, they close a LOT of accounts, I personally know a few people who had chase accounts, and they were closed.

one of them had a 5+ million locked for 3 months, then I remember him waiting by the mail box every morning.

Bottom line If there another bank in your nieghborhood think twice before trusting chase.

Re: BEWERE chase loves closing accounts

M_Smart007 — Tue, 12 May 2020 01:16:50 GMT

Sorry they closed your account.

Just wanted to mention, there are a lot of people like myself who have Checking & Savings,

several Credit Cards with high limits, for many many years with no issues.

chase secure cheking

Anonymous — Tue, 12 May 2020 01:22:56 GMT

Chase secure cheking, Is different then chase total checking.

The difference is that you can't write checks (no paper checks), you can't overdraft, and the monthly fee is chaeper (around 5 dollars) thus unwaivable.

oh, and no minimum balance, and

BEWRE Chase loves closing accounts, and they legally don't have to provid there prized client with an explanation, since you clicked accept.

Re: BEWERE chase loves closing accounts

Brian_Earl_Spilner — Tue, 12 May 2020 01:26:45 GMT

What was the supposed fraud? I've never had a problem with them. It's the reason I keep them open despite having most of my money elsewhere. Most timely and least problems out of everyone. Their rates just suck.

Re: BEWERE chase loves closing accounts

Jnbmom — Tue, 12 May 2020 02:00:39 GMT

Chase normally just doesn't close accounts without a reason, you mentioned "fraud" but didn't state what the fraud may be?

Most lenders have a reason whether we agree with it or not, or we don't think it's a good enough reason, it's business to them and they can and will close accounts. This applies to all lenders...........................................................

Re: BEWERE chase loves closing accounts

Remedios — Tue, 12 May 2020 02:01:32 GMT

@Anonymous Chase doesnt randomly close accounts. Something happened, and it caused them to suspect fraudulent or illegal activity.

Unless you're really willing to truthfully describe what caused it, hollering about Chase closing accounts doesnt help you or anyone else, because it isn't true.

If you dont want to talk about it, usually the best place to start is looking at transactions, type of merchants you used, etc.

Additionally, if there is anything on your EWS report that indicates fraud, frequent overdrafts, "abandoning" overdrawn accounts, that can help you determine what happened.

In most cases however, customer knows what happened, they just dont see it the same way lender would.

Re: BEWERE chase loves closing accounts

Anonymous — Tue, 12 May 2020 02:23:05 GMT

@Anonymous wrote:
... Ask around, they close a LOT of accounts, I personally know a few people who had chase accounts, and they were closed.
one of them had a 5+ million locked for 3 months, then I remember him waiting by the mail box every morning ...

Although I find your claim entirely plausible, I asked around and didn't locate anyone who had a similar experience (I did learn one friend got charged $7.50 for helping himself to the employee coffee and donuts while waiting to see a banker ).

Anyway, thanks for the cautionary tale -- I know I'll make sure to never deposit more than 1M with Chase.

Re: BEWERE chase loves closing accounts

Anonymous — Tue, 12 May 2020 18:15:34 GMT

While your post brings back a funny memory about when I opened my Checking account with them, and the Banker turned the montier for me to "read" the T&C. "We both knew that i just skimmed over it" It's no different than with any other FI, if you want to bank witht ehm sign. If not good day.

End of day I knew that I had no intention of behaving in a way that would prompt a closure, and if something ever did happen to warrant a closure oh well i've got plenty other Banks. So no love lost, but they'd better have a check in the mail fairly soon in the amount of my deposits.

Re: BEWERE chase loves closing accounts

NRB525 — Wed, 13 May 2020 01:51:56 GMT

@Anonymous wrote:
@Anonymous wrote:
... ...
(I did learn one friend got charged $7.50 for helping himself to the employee coffee and donuts while waiting to see a banker ).

.

I learned something valuable today. Thanks!

Re: BEWERE chase loves closing accounts

bourgogne — Wed, 13 May 2020 06:03:56 GMT

nonsense, cannot understand the post but if completely false that chase closes down account without reason. I live in los angeles and there is by far the most dense allocation of chase branches here of anywhere. all my friends and colleagues bank with them, its impossible not to, and everyone thanks to my referral greed has a slew of cards from them and nobody has has had a single issue with either credit or banking. what goes around comes around, treat FIs right and bank clean and there will never be any issues imo

Re: BEWERE chase loves closing accounts

sccredit — Wed, 13 May 2020 16:40:22 GMT

First, banks don't close accounts just to close accounts. Second, every bank has similar T&C.

Re: BEWERE chase loves closing accounts

MakingProgress — Wed, 13 May 2020 17:08:23 GMT

@Anonymous wrote:
When opening an account, do you read the whole licence agreement?
you answerd no, right?

Who has time to read 100 pages in a bank by a bankers desk? You just click agree, or accept, right?

The banker even tells you 'you don't have to read it". (I asked him what if I want to? he said, then i'll go take a nap and be back in 45 minutes)
So, I did't read it. but if I would have, my account would probebly be in a diferent bank.

Now they closed my account, reason? they suspect fraud.

BTW legally don't have to explain, since I clicked accept.

Ask around, they close a LOT of accounts, I personally know a few people who had chase accounts, and they were closed.
one of them had a 5+ million locked for 3 months, then I remember him waiting by the mail box every morning.

Bottom line If there another bank in your nieghborhood think twice before trusting chase.

I don't know of any bank that does not have a clause in the T&C that allows them to close an account if they suspect fraud or for any other reason that they may determine warrents that action.

Re: BEWERE chase loves closing accounts

Anonymous — Thu, 14 May 2020 00:45:51 GMT

OP got real quiet... Echoing what others said, something definitely happened that triggered Chase to suspect fraud. I've had an account with Chase since 2008 when they acquired Washington Mutual (and since pre-2000 if you go by legacy rules), and have added another account and 2 credit cards since. Zero issues all these years.

Re: BEWERE chase loves closing accounts

M_Smart007 — Thu, 14 May 2020 01:40:21 GMT

Re: BEWERE chase loves closing accounts

Anonymous — Thu, 14 May 2020 14:29:42 GMT

What I find ironic is Chase continully is fined for shading business practices, laundring drug money, rigging physical silver markets, only processing large PPP loans so they can collect the larger fees. And yet treat their own customers like we are doing shdy things. Therer are so many other banks and credit unions out there. Why bother with these guys? Thier business model seems to profit off the miseery of others.

Re: BEWERE chase loves closing accounts

Remedios — Thu, 14 May 2020 01:57:31 GMT

@Anonymous wrote:
What I find ironic is Chase continully is fined for shading business practices, laundring drug money, rigging physical silver markets, only processing large PPP loans so they can collect the larger fees. And yet treat their own customers like we are doing shdy things. Therer are so many other banks and credit unions out there. Why bother with these guys? Thier business model seems to profit off the miseery of others.

I've removed thinly veiled profanity from your post.

You understand that whining about a lender doing "illegal" things while listing three of their cards in your signature is at best a hypocrisy.

I mean, if that's all true, wouldn't you kinda sorta be an accomplice to a criminal enterprise?

Re: BEWERE chase loves closing accounts

Anonymous — Thu, 14 May 2020 02:15:39 GMT

I almost never post, and haven't updated my signature. Closed the accounts months ago. And yes I got tired of being associated with them, and yes is true, simple search will bring up all the shady crap they have been fined for.

@Remedios wrote:
@Anonymous wrote:
What I find ironic is Chase continully is fined for shading business practices, laundring drug money, rigging physical silver markets, only processing large PPP loans so they can collect the larger fees. And yet treat their own customers like we are doing shdy things. Therer are so many other banks and credit unions out there. Why bother with these guys? Thier business model seems to profit off the miseery of others.

I've removed thinly veiled profanity from your post.

You understand that whining about a lender doing "illegal" things while listing three of their cards in your signature is at best a hypocrisy.
I mean, if that's all true, wouldn't you kinda sorta be an accomplice to a criminal enterprise?

Re: BEWERE chase loves closing accounts

Anonymous — Thu, 14 May 2020 14:21:46 GMT

I know that, my dad is on of them, and it's still not secure to keep all your money there, since they can close it legally without warning

Re: BEWERE chase loves closing accounts

Remedios — Thu, 14 May 2020 14:37:30 GMT

Well, people dont exactly give banks warning either.."Yo, we're about to commit fraud"

You never really elaborated what prompted closure of your account.

You've posted in numerous threads, bumped so many old threads, without really ever touching on why, which in my opinion indicates you know why, you agree with it, but are blaming not reading T&C, because you "didnt know you couldn't do that"

I understand this is upsetting to you, but what I dont understand is reluctance to explain what lead to account being closed.

"Lender So'N'So sucks because they closed my account for fraud" really doesnt help anyone.

Re: BEWERE chase loves closing accounts

Anonymous — Thu, 14 May 2020 14:42:32 GMT

The so called fraud, was 2 checks from the same company, for 2 months, and the amount was the same.

@Jnbmom wrote:
Chase normally just doesn't close accounts without a reason, you mentioned "fraud" but didn't state what the fraud may be?

Most lenders have a reason whether we agree with it or not, or we don't think it's a good enough reason, it's business to them and they can and will close accounts. This applies to all lenders...........................................................