Terrible Chase experiance

Green456 · ‎04-23-2019

So Im moving to city/state where there is no wells fargo, bank of amreica and chase is the only national bank. Chase has a pretty good reputation up here and so I thought, I will have no issues.

April 1:

Opened 3x checking and 1x savings accounts via local branch. I ask the lady there, am I gonna have any issues transfering large amounts of money via bank check? Do you need additional documentation. She said no, driver license just fine. This is Chase. We will not lock you out.

April 5:

I recieve a letter that they need additional verrifications or else my accounts will be closed in 10 days. They requested I fax a utility bill or a paystub. Now I don't have a printer or a fax machine... So I went to the same branch and they scanned the paystubs to their system. They gave me confirmation number but recommended I call nex day to confirm that everything is a okay.

April 8:

I call their Texas office, a very nice lady confirms that everything is okay. She recieved my paystub and my accounts will not be locked out.

April 10-20:

I transfer my all online payments including rent, cars, loans, etc into chase. I close my other bank accounts thinking "This is Chase." A big bank that will not screw me over. At least that is what was promised.

April 22:

Account suspended. I have no access to my money, I work 12 hour shifts and I cannot visit a branch....

I call their number on the suspended account notification. I am told that they don't have copy of my ID or proof of address. I told the guy what happened April 1-20. He said. No, he does not have copy of my ID or address and accounts are suspended and they will be closed in 10 days.

This is a joint account BTW. My wife has no issues on it but because of me her access to the accounts have been suspened too.

UPDATE:

So I went to the branch. They unlocked my account. I really don't blame them or get upset at wanting to verify my identity or my wife's identitiy. They have to do their due deligence and verify me. However I feel like I have done my due deligence and did exactly what they asked me for. 1) When opening bank account I asked if they needed any extra information. 2) When I recieved letter few days later I went directly to the branch with the documents they asked for. 3) I called their Texas office from which I got the letter to confirm that everything was okay. Then out of nowhere, without email, phone call or any kind of warning my accounts are frozen. I really feel like this is just unacceptable. It kind of makes me feel like my experience with Schwab.

I talked to my wife, we will keep this one open for now, get our bonus out of it and see how things go. But we may close their account 90 days from now and go with a credit union or a local bank. I will just park my money elsewhere and it is not a small amount.

xaximus · ‎04-23-2019

I actually had a similar issue awhile back, but I did not close my other accounts until I had the Chase account full up and running. At this point, I would reach out to a manager at the branch and see what can be done. If you know the name of the people at the branch, reach out to them to see how they can resolve this since you have done everything on your end correctly yet they are dropping the ball. After that, definitely file a complaint regarding the whole situation.

Scores - All bureaus 770 +
TCL - Est. $410K

Green456 · ‎04-23-2019

@xaximus wrote:
I actually had a similar issue awhile back, but I did not close my other accounts until I had the Chase account full up and running. At this point, I would reach out to a manager at the branch and see what can be done. If you know the name of the people at the branch, reach out to them to see how they can resolve this since you have done everything on your end correctly yet they are dropping the ball. After that, definitely file a complaint regarding the whole situation.

I kind of lost my trust with Chase. I do have large amount of money that I need to park somewhere and I thought a large bank would provide me that assurance. I will go to Chase and try to resolve this issue but long term wise I don't know how much I can trust them traveling out of the country or do buisness with them.

xaximus · ‎04-23-2019

I have always had multiple checking accounts and have my money parked in 3 different banks at any given time. Anytime I travel, I don't keep my debit card with me anyway, I'll have a couple credit cards and some emergency cash if anything. I do let the lenders of the CCs I take know that I will be out of the country at whatever given time so that they don't lock the cards thinking its fraud.

Scores - All bureaus 770 +
TCL - Est. $410K

DaveInAZ · ‎04-23-2019

Well, this is pretty inexcusable for accounts opened in branch, when you open in branch it's a requirement that the rep properly documents your identity and enters that information in their system. It sounds like she failed to do so.

I opened a Chase checking in branch a couple years ago. Everything went fine until the first time I tried to transfer in over $1k from an external account, this after I added the account on the Chase side and verified their trial deposits. My access was promptly suspended, when I called the number the rep wanted me to stay on the line while she called the other bank to verify I was the owner of the account. I told her No Thanks, just cancel the transfer. Then I removed my funds and closed the account. You might consider doing the same, although yes, while your accounts are suspended you can't do that. Again, for accounts opened in branch this is inexcusable.

You might call them and ask this question: How is it possible that I opened the accounts in branch with my photo ID and you now claim that you don't have a copy of my ID or proof of address and can't verify my identity? Are your branch employees really that incompetent?

Streetervillelady · ‎04-23-2019

@Green456 wrote:
@xaximus wrote:
I actually had a similar issue awhile back, but I did not close my other accounts until I had the Chase account full up and running. At this point, I would reach out to a manager at the branch and see what can be done. If you know the name of the people at the branch, reach out to them to see how they can resolve this since you have done everything on your end correctly yet they are dropping the ball. After that, definitely file a complaint regarding the whole situation.
@xaximus wrote:
I actually had a similar issue awhile back, but I did not close my other accounts until I had the Chase account full up and running. At this point, I would reach out to a manager at the branch and see what can be done. If you know the name of the people at the branch, reach out to them to see how they can resolve this since you have done everything on your end correctly yet they are dropping the ball. After that, definitely file a complaint regarding the whole situation.
I kind of lost my trust with Chase. I do have large amount of money that I need to park somewhere and I thought a large bank would provide me that assurance. I will go to Chase and try to resolve this issue but long term wise I don't know how much I can trust them traveling out of the country or do buisness with them.

The banking crisis in the 1980’s resulted in bank failures, mergers and buyouts. Now NO bank has an integrated system. Because of this and ever-changing anti-money laundering laws what happened to you could happen at virtually any bank in the country. For some it’s easier said the done, but everyone needs more than one banking relationship.

At this point you need to take a day out of the office and see a branch manager. The manger should have a higher level of systems access. Keep your support documents with you/available. With Chase everyone you speak to will request them. This won’t be a quick fix.

Anonymous · ‎04-23-2019

I am so sorry to hear you had such a bad experience with Chase. As others have pointed out, this literally could happen at *ANY* bank in the country, because they are all a little skiddish with the current laws. Chase is especially so. Their branch folk warned me as much when we opened accounts, so we made sure everything was *100%* to their spec, and kept other bank accounts open.

I also want to second what someone suggested re having multiple accounts. My DW and I keep multiple banks for both our business and our personal... and we don't bank at the same bank, with the exception of one CU (NFCU). She's with a local CU, USAA, and BofA, i'm with Chase, Cap1 and NFCU. That way, if there is *ever* a problem with one bank freaking out, screwing up, or otherwise something odd happening (like when chase held our $12k deposit into our business account), we had a backup.

Switching banks is a pain. None of them are *GREAT*. Chase is *pretty good*. Even the beloved NFCU has issues. Good luck - remember, they are trying to mitigate financial and regulatory risk, too.... so once your account ages a tiny bit (like a month or less) you should be fine.

Revelate · ‎04-23-2019

Hrm. A piece of advice, when dealing with banks simply act like everything is absolutely fine.

Repeated calls and awkward questions, while not the core issue (which at least sounds like a bank flub though seriously use an online fax or Fedex or UPS store if really required: get it to the right group the first time instead of going to the branch), don't help one's case.

Almost every customer is ignorant, you want to be able to plead that if things go sideways. Don't get angry (even though I would be at least annoyed as hell), be patient, be polite, and work through it.

Anonymous · ‎04-23-2019

@Revelate wrote:
Hrm. A piece of advice, when dealing with banks simply act like everything is absolutely fine.

Repeated calls and awkward questions, while not the core issue (which at least sounds like a bank flub though seriously use an online fax or Fedex or UPS store if really required: get it to the right group the first time instead of going to the branch), don't help one's case.

Almost every customer is ignorant, you want to be able to plead that if things go sideways. Don't get angry (even though I would be at least annoyed as hell), be patient, be polite, and work through it.

This is some brilliant advice right here......

Dummy curve. Know everything, tell them nothing. Act like everyone else. At least until your account gets out of the "new account" phase.

Green456 · ‎04-23-2019

@Anonymous wrote:
I am so sorry to hear you had such a bad experience with Chase. As others have pointed out, this literally could happen at *ANY* bank in the country, because they are all a little skiddish with the current laws. Chase is especially so. Their branch folk warned me as much when we opened accounts, so we made sure everything was *100%* to their spec, and kept other bank accounts open.

I also want to second what someone suggested re having multiple accounts. My DW and I keep multiple banks for both our business and our personal... and we don't bank at the same bank, with the exception of one CU (NFCU). She's with a local CU, USAA, and BofA, i'm with Chase, Cap1 and NFCU. That way, if there is *ever* a problem with one bank freaking out, screwing up, or otherwise something odd happening (like when chase held our $12k deposit into our business account), we had a backup.

Switching banks is a pain. None of them are *GREAT*. Chase is *pretty good*. Even the beloved NFCU has issues. Good luck - remember, they are trying to mitigate financial and regulatory risk, too.... so once your account ages a tiny bit (like a month or less) you should be fine.

I don't blame them for trying to follow local laws and doing their due deligence. I blame them for incompetence. How am I suppose to trust them with my money if Chase employee from Texas tells me one things, customer service on the phone tells me another thing and person at the branch in NJ tells me another.