Please help

[Anonymous]

Hey guys,
I've been a die hard chase fan until yesterday. I have a 9-5 job and do freelancing on the side. I have two chase accounts - one for freelancing money and one for everyday use. I deposited a check from a freelance gig on thursday in my freelance account and withdrew the money friday to pay rent. it was about $1300. less than an hour after i made the withdrawal, they put a "hold" on the account for the amount of the check causing my account to overdraw. I figured it was routine and just continued about my day until i went to pay for food with my debit card from my other account and it was declined. I called chase and they said both accounts are on restriction pending the clearing of the check that was deposited. they said the check had an indication that it would be returned and that when it didn't clear my accounts would be closed. 
here's the problem:
at this point, chase has pissed me off so much that i want to end the relationship regardless, however on monday an ACH from my regular job is going into my personal account (that is not overdrawn) for about $1500. are they going to take this money and transfer it to the other account without my permission and send me a check for the difference or will the ACH be returned? also, because this is earned income, is it protected by the New York EIPA? I can't afford to go without my paycheck and I'm trying to collect from the party that wrote me the check but it doesn't look promising. is there any way to get any of it back so i can eat? This was my only bank account and I have no money to live on now.
Thanks.

[Anonymous]

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@Anonymous wrote:

Hey guys,
I've been a die hard chase fan until yesterday. I have a 9-5 job and do freelancing on the side. I have two chase accounts - one for freelancing money and one for everyday use. I deposited a check from a freelance gig on thursday in my freelance account and withdrew the money friday to pay rent. it was about $1300. less than an hour after i made the withdrawal, they put a "hold" on the account for the amount of the check causing my account to overdraw. I figured it was routine and just continued about my day until i went to pay for food with my debit card from my other account and it was declined. I called chase and they said both accounts are on restriction pending the clearing of the check that was deposited. they said the check had an indication that it would be returned and that when it didn't clear my accounts would be closed. 
here's the problem:
at this point, chase has pissed me off so much that i want to end the relationship regardless, however on monday an ACH from my regular job is going into my personal account (that is not overdrawn) for about $1500. are they going to take this money and transfer it to the other account without my permission and send me a check for the difference or will the ACH be returned? also, because this is earned income, is it protected by the New York EIPA? I can't afford to go without my paycheck and I'm trying to collect from the party that wrote me the check but it doesn't look promising. is there any way to get any of it back so i can eat? This was my only bank account and I have no money to live on now.
Thanks.

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Wow! Sorry this happened to you. I have no clue what to do, but others will chime in to help, I am sure.

[Anonymous]

I don't have an opinion of Chase one way or the other but I can tell you this - you have just illustrated the reason I always maintain multiple accounts at multiple financial institutions, and always will.  If something goes wrong at one, all my assets at the others will not be frozen and will allow me to react to whatever crisis is at hand.  Even if you don't end up divorcing Chase, I would strongly recommend picking up another bank on the side to be sure this never happens again.

[greent]

I'm sorry about this. All i havevto offer is a prayer that everything is cleared and you can get your money.

[IOBA]

Has Chase charged any overdraft fees?

Are they going to refund the fees since they are responsible for creating the situation that allowed for fees to be charged?

Always, always have multiple accounts at DIFFERENT banks!  

[Anonymous]

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@IOBA wrote:

Has Chase charged any overdraft fees?

Are they going to refund the fees since they are responsible for creating the situation that allowed for fees to be charged?

Always, always have multiple accounts at DIFFERENT banks!  

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Well they are not responsible for creating the situation. The maker of the check that was given to the op is at fault. 

However-I agree..even if you get through this scenario maybe you should have your freelance money go to one bank and your direct deposit to another that way you are covered either way. I empathize with you and I hope everything gets straightened out quickly.

[IOBA]

Ultimately the issuer of the check is at fault here, but Chase has some responsibilities in this too.

Chase had the responsibility to communicate to the OP of the situation IMMEDIATELY when it happened.  There was no reason to set the OP up for bank fees or public embarrassment.

Chase had the responsibility to waive any/all fees that resulted from allowing the OP to withdraw the funds, then removing the check funds from the account, and then freezing the account with a negative balance.

Things could have been handled so differently than they were.  Chase looked out for their bottom line, which I get.  But they could have cared about the OP too and helped out.

We don't know how this turned out, but we do know that one person's actions created a bad situation for another.  Snowball effect.  Hopefully the OP can bounce back from this.  Hopefully the OP will open up accounts at two different financial institutions.