How many ways can CHASE charge fees? Let’s see there is the misc. fee, savings withdrawal fee, additional withdrawal fee, debit transaction fee, online transfer fee, ATM withdrawal fee, service fee, monthly service fee, scheduled maintenance fee, over the limit fee, closing deposit fee, insufficient funds fee.. need I go on?
According to federal regulation D section 204.2 (d)(2) If you have a savings account, you had better read the fine print! Your savings account could be considered a savings deposit account which may prohibit the amount of savings withdrawals allowed per monthly statement cycle. If you are not aware of your banks terms or restrictions placed on your ability to access your own money, you should familiarize yourself with it before you get zinged with excessive withdrawal fees and penalties.
Here’s our story…. Chase charged us a total of $52.00 in savings withdrawal fees to access our own money from our savings account! The total amount of the fee charges were posted to our savings account without any warning and all of the fees were posted within a matter of two days. To our shock and dismay, Chase never disclosed during the time of each transaction that we would be charged a transaction fee for each transaction over the implemented limit of 4 withdrawals per monthly statement cycle. Instead, we were hit with a $12 over the limit withdrawal fee twice in one day, long after the transactions took place. Then another $18 misc., fee was posted to our savings account the next day despite no transfer activity. The federal government imposed their $24 fee (according to Chase) and Chase imposed their own penalty fee of $3 per transaction. We were charged $52.00 to access our own money. We did not write checks for insufficient funds, we did not go below a minimum balance, we did not transfer funds to another financial institution! NO!! All we did was access our own money!! When we closed out our savings account guess what? They charged our checking account another $6.00 closing fee! Even though I told the bank rep in person that we did not want to close it if IT WAS GOING TO COST US YET ANOTHER FEE TO DO SO -they did it anyway!!! The account was closed at our local CHASE bank by the bank rep but we were still charged another fee !! We were unknowingly charged the $6 closing fee until we got home to check our account on-line. They conveniently charged our checking account for the bank rep to close out our savings account!! Presently, we have to wait for our tax refund which is being electronically deposited into our checking account before we can close down our CHASE checking account but we are anxiously awaiting for that very moment.
There is a place for the GREEDY BIG BAD BANKS, and it’s called HELL! Please inform a family member, friend, co-worker or anyone worthy enough of good financial advice to not to BANK WITH THE GREEDY BASTARDS that got us into our economic crisis in the first place. You know the same con-men that convinced our government leaders to favor a financial bail out. The GREEDY BIG BAD BANKS have been stealing BILLIONS of our hard earned money by enticing us with fancy ads. They have gotten away with charging high interest rates or increasing rates without justification. BANKS EARN THEIR BILLIONS FROM OUR MONEY AND WE NEED TO STOP THIS PRACTICE BY NOT BANKING WITH THEM!!!
Please withdrawal your money from the greedy bastards!! Clark Howard, (CNN Clark Howard Show) is a financial expert who advises consumers to use a local Credit Union instead of the GREEDY BIG BAD BANKS!!