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Permanently Banned from Chase Bank Account for LIfe!!!

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Established Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

I'm not trying to sound ENTITLED. I'm trying to figure out what negative information is on my file so I can correct it. If Discover won't give me a card I know it's because my credit score, inquiries, etc. They tell me why! Chase will not release that information to me. 

 

 


Except that Discover won't give you that information over the phone, that information gets delivered to you in a letter 7-10 business days after the decision is made.

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Message 31 of 44
Community Leader
Super Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

OP, Sorry for all your troubles. See what the letter says when you get it, and just know you may never know the real answer either. 

 

@FinStar, your thoughts on this matter? 


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Message 32 of 44
Moderator

Re: Permanently Banned from Chase Bank Account for LIfe!!!


@pizza1 wrote:

OP, Sorry for all your troubles. See what the letter says when you get it, and just know you may never know the real answer either. 

 

@FinStar, your thoughts on this matter? 


Sorry @pizza1, I just ran into this thread. 

 

There's all kinds of possible rabbit holes given the "permanent ban" stipulation as per what the OP described. 

 

So, at best is reviewing the contents of any correspondence they may receive or whatever may be in EWS.  Another thing, besides the generic "adverse action" letter that may or may not provide specifics, an institution can legally reserve the right to not open an account, plain and simple.  This could be based on any internal records from any sources (yes even banks can share information among themselves) or the premise of KYC internal policies, which even if challenged, fall in line within regulatory governance.

Message 33 of 44
Regular Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!


Were you ever given a reason OP?


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Message 34 of 44
Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

Yes. This happened to me. In my case, I'm 90% sure I know why (though it's BS and I can prove it)... Yet, I've gone all the way to the executive offices and all they will tell me is they don't want my business.. And that nobody in the company can discuss why. For me, I deposited a lot of cash... I have proof where that cash came from... But since they won't discuss it with me to give me a chance to explain it just sits in limbo.

The letter they mailed me said it was something on my credit report,but that's BS too... I can be approved for 25k credit line but not a checking account? Sorry, do not believe you.

If you find a way to dig a reason out if them please let me know.

If it makes you feel better, before I knew I was on the blacklist, I was approved for an 11k marriott card and a 500 dollar amazon card. The Marriott is still 11k,and the 500 amazon card has been increased to 3000 by SP auto CLI...

I don't doubt I could be approved for another credit card, but since finding out about them blacklisting me and not letting me plead my case or give me an explanation, I signed up for Amazon business through Amex and stopped using my marriott card. Keeping them open only for sake of utilization and aaoa
Message 35 of 44
New Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

So I got back the letter from Chase and received a phone call from the executive office. There's no official reason given other than they do not want my business and according to section 13 in their banking agreement they do not have to share a specific reason. I was told this repeatedly and asked her if she could even see a reason given so I know how to not "mess up in the future" and she kept stating they do not have to give a reason...

 

So I'm officially going the Amex route from now. 

 

I also checked my EWS and ChexSystems reports and everything is clean on there. When I was younger I was a poker dealer and used to make significant cash deposits so maybe it got flagged for possible money laundering in there internal system. I was paid a check by a casino though so it shouldn't sound too unusual.

 

Thanks everyone for their input in this though.

Message 36 of 44
Moderator

Re: Permanently Banned from Chase Bank Account for LIfe!!!

The outcome may be unfortunate, but it is what it is. So, while you may never know the actual specifics, it's best just to move your business elsewhere. Due to various regulatory requirements, depository relationships can be terminated by the institution and the placement of a "life ban" is simply a measure of legal protection / CYA for them.

So, don't take it personal, plenty of fish in the ocean.
Message 37 of 44
Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

Honestly, I know people here... and seemingly everywhere on the internet lately seem to be obsessed with chase as some sort of holy grail... But I'm not THAT impressed. I love my amex cards. Even if I had the sought-after CSP/CSR CARDS, all my expensive purchases would be on amex... The customer service is amazing and the protections are untouchable.
Message 38 of 44
Moderator

Re: Permanently Banned from Chase Bank Account for LIfe!!!

By the same token, it's always a good strategy for keeping a diverse portfolio, not only from a depository or lending perspective, but also from an investments standpoint as well.

As has been known for decades, not every FI or brokerage will be a fit for everyone. Individuals will prefer some vs others based on experiences, lifestyle, etc., and that's perfectly ok. The beauty about it all, is there's an abundance of them to choose from.
Message 39 of 44
Senior Contributor

Re: Permanently Banned from Chase Bank Account for LIfe!!!

@ohmyhalesMust be frustrating to be banned and they won't even give you a hint for the reason why. I'm not a fan of Chase but I regularly open Chase checking accounts for new account bonuses and never an issue, and I even included Chase CCs in my 2010 BK7 so they would never approve me for a CC.

 

But be careful with Amex savings, they can be touchy with numerous deposits & withdrawals. The first time I made a withdrawal for anything other than paying my Amex cards I got a call demanding to know if that bank account was personal and if I was the sole account owner. Discover, Capital One or most any credit union would be better if you plan on regular deposits & withdrawals.


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Message 40 of 44
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