Here’s the latest update in my fiasco with my Taylor, Bean, & Whitaker bounced escrow check. I’m not happy with Chase right now. In fact, as soon as this mess gets straightened out, I will be transferring my money to a local bank with a great reputation. A bank where people are people…not a product of rules and regulations.
What the Chase Supervisor Told Me Yesterday
Yesterday I told you I called Chase about my overdrawn account. I spoke to the regular phone rep first, who told me that each item that was overdrafted would be charged a $25 fee. I had 8 transactions.
Then I talked to the supervisor, who told me that Chase only charges for the first 6 overdrafts, each at $25, so I would be charged a total of $150, of which she would credit back $70.
I wasn’t thrilled about having to pay $80, but I also realized it wasn’t Chase’s fault. So I said thank you politely and hung up the phone.
My Overdraft Fee This Morning
This morning I checked my account first thing to make sure my husband’s paycheck had been deposited and we were back in the black. I knew we’d have pretty much nothing on top of his paycheck, but at least we wouldn’t owe.
Except that we did. The overdraft fee charged to my account was $204. Fortunately the $70 was credited to my account soon after, but I was still not happy about being charged $50 more than I was told.
What the Chase Manager Told Me Today
I called Chase back this morning and asked to speak to a manager. Yes, she told me, I was correct. Chase will only charge for the first 6 overdrafts…per day (a fact that was left out yesterday). Fortunately I didn’t have any other transactions come through overnight. Unless they count the overdraft fee.
However, she said, I was told wrong about the actual fees yesterday. The fee is $25 for the first transaction and $34 for every transaction after that…up to 6. And no, they couldn’t honor what I was told yesterday. The rules are the rules. Exceptional circumstances don’t matter. But she was very sorry. And she understood. But her hands were tied.
When Did We Stop Acknowledging Real People?
The thing that bugs me most is that I have always been in good standing with the bank. I have bounced one check in my life. I was 20 years old, and it was a math error on my part. I paid the check and the fees and took responsibility.
In the past 18 years, I have not overdrafted my accounts once, until this week. Not even when my husband and I were living on $19,000 a year. I have a credit score of 800+. I did everything right. My problem is that I deposited an escrow check, money that I had paid legitimately to Taylor, Bean, & Whitaker. And Taylor, Bean, & Whitaker didn’t play by the rules. And Chase can see from their records that that is the case. It’s not like I’m feeding them some story to pull one over on them.
I realize that the Taylor, Bean, & Whitaker bounced check is not Chase’s problem. But as an upstanding customer, I am their problem. I don’t understand a society where rules are rules, and can never be broken, even in exceptional circumstances. We live in exceptional times. Banks are folding right and left, it seems. And innocent people, people who have played by the rules, are left holding the bag.
Counties are working with Taylor, Bean, & Whitaker customers to help them avoid property tax fees for taxes not paid by TBW.
Bank of America is working with former TBW customers to make sure their homeowners premiums are paid and no fees are incurred by innocent consumers.
But Chase will not work with a customer in good standing who did everything by the book? And they won’t even honor what a supervisor told that consumer in good standing? It’s not like I blew up on the phone and verbally abused the customer service supervisor I talked to the first time. I was polite. I asked if they could help. And I accepted their terms, even when they couldn’t waive all the fees. But then they didn’t honor the terms they gave me.
And it’s not like I was angry and yelled at the customer service manager I talked to today. I cried some out of pure frustration, but I think I managed to keep things polite, even though I’m understandably angry about this whole mess.
And yet, they can’t help me.
I’m sorry, but I’m choosing to take my business that treats people like people…and not like a customer number. Is there a bank out there that wants my business? I’m low maintenance, don’t yell at customer service reps on the phone, and my account is always in good standing, except when my mortgage company sends me a bad check for my escrow refund.
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That’s some horrible service from Chase. We moved banks when they did something similar and we don;t regret it. Banking is not a hassle and we’re getting service that professional and respectful.
I’m glad you have a plan to move your money to a bank with better customer service!
I so feel your pain right now. I used a debit card a few weeks ago for an account that I don’t use often, but I knew there was plenty of money in it as I put a deposit in just days before. Because I had not used the account for 2 months, the bank froze my account, despite the fact that I put a deposit in. The debit company called and said there would be no fee if they ran it again and it went through and they asked when I wanted them to try. I told them the next day and then immediately called the bank. The bank fixed the problem right then and had no clue why the deposit didn’t unfreeze my account. Wednesday, I received a collections notice, along with the fee. I checked my account and the debit and the fee had been deducted. The bank is working on getting my fees back since the money was in there in the first place. It is a huge hassle for something that never should have happened in the first place.
The “customer service” industry (and I use that term very loosely) in this country has gone down hill and fast. Everyone is trying to cut corners and make an extra buck. If you find a company that you can trust, stick with them and express your gratitude for expected services – or people seem to forget they are expected!
Horrible service. I hope you get it straightened out soon.
Don’t give up on getting Chase to void those fees. Keep calling back and asking to talk to the next higher up until you get someone who can void those fees for you. The squeaky wheel and all that you know.
And make sure they know you intend to switch banks because of this. That might give you a little leverage as well.
If Bank of AM is stepping up, there is no reason you can’t expect Chase to do the same! Good luck!
We’re also switching from Chase to a local credit union for nearly the same reasons, and because their billpay service drives me nuts!
My son used that bank for about 4 months & had so many problems with them that he changed to a Credit Union & has had no problems at all… My son is mentally impaired and they knew he did not understand all the fee’s and charges & still would not refund his money! He wanted to do it on his own & his school said to let him do it on his own as the banks wont take him for a ride on his money, RIGHT! I will never use Chase after the stuff they pulled on my son. I have even done as you have and made it public to let as many people as I could know how bad they are!
Wow – that’s awful!! We’ve used Wachovia (which was originaly First Union which is now Wells Fargo) for over a decade! I’m quite pleased with their service! :-) Hate to admit, I’ve had a few overdraft items in my life *blush* and they give me grace once a year and if I call, they void the charges – they’ve been very gracious in that respect! :-)
So sorry to hear that Chase Bank cannot find it in their “Policy Manual” to do the right thing.
I would keep calling back too, and tell that Bank of America, their competitor, is doing the right thing, so why can’t they.
We’ve been with Bank of America for a while and I honestly adore them. Even though we’re huge, whether I’m in a bank or on the phone, it’s always been pretty personable.
At the bank I manage, you get charged a fee for EVERY overdraft, even if you overdraw 10 times and they are $1 each. We have “guidelines” in the system that tell us how much we can refund. If we choose to go over that, we can. I would still call back and try to talk to whoever is over the manager. It is possible, and sometimes the manager is willing to do more after you tell them that. :)
I would go to the people who gave you the bad check inthe first place and tell them they need to pay your fees, that is what businesses do to customers who bounce a check right? Also, you might get better service if you actually speak to someone face to face rather than as a faceless entity on the phone. It is harder to tell someone no to their face than it is on the phone where you dont have to meet their eyes. I agree with some of your other commenters, don’t give up. I found you through a link on Like Merchant Ships, great blog:>)
I got into this situation nearly 10 years ago and vowed never to be in it again. Almost any bank will do the same thing, so it’s important to have one or both of the following in place:
1. An overdraft line of credit.
2. A cushion in your account that’s big enough to cover situations like this.
I use both of these. I never let my balance go below several thousand dollars and use this as a cushion and a small part of my emergency fund.
Good luck on getting your fees refunded or paid by the escrow company.
I’m vowing all right. I’m not big on lines of credit (but you knew that), but I’m definitely rethinking the cushion. I usually keep a cushion of a few hundred dollars in the checking account, but I prefer most of my money to be in my savings account. That way I’m not tempted to spend it.
Obviously in my case, a few hundred wasn’t enough of a cushion.
We have our mortgage through Chase, and I have to say that I cannot stand them! In these economic times they should be more customer friendly, but they certainly aren’t. We are only 1 month behind on our mortgage due to my husband receiving a cut in pay due to downsizing by GM and then he was laid off for 5 weeks in which it took 5 weeks to receive our first unemployment check. He is employed by an outsource company – not GM. Chase called and didn’t care about our situation and the fact that I have a disease and during that time he was off we had no health insurance either. They told me they were going to start foreclosure procedings. I told them they could have it, and their threat was ridiculous! I know a lot of people who are struggling in Michigan where our unemployment rate is the highest in the US and they are 6 months behind on their mortgages! I wouldn’t recommend Chase to save my soul!!!
Go to a local bank. They will appreciate you for saying good things about them to your mortgage searching friends and for being nice to the tellers.
Chase appreciates those who pay hundreds in overdraft fees (sorry, but being a checking customer who does “everything by the book” is exactly what makes you a bad customer in Chase’s eyes unless you are paying some kind of ridiculously high account fees or keeping tens of thousands in a low yield account. And the fact you’re trying to get out of paying these fees, the only thing you’ve done lately that has made them significant money, frankly makes you a customer they’d like to lose). So go to a local bank and everyone wins.
Keep in mind this is a bank currently sending out “congratulations” to customers on their automatic “upgrade” from the 3% cash back Freedom card to the 1% cash back Sapphire card.
I used to work as a call rep in a big name bank.
When I worked at the bank, there was 2 types of crediting; one was for errors (for instance, you were billed twice for your mortgage, and the company had credited you back a few days later, after you were overdrawn, or for fraud), and for customer satisfaction for everything else. Customer satisfaction was extremely limited in what you could do-the program only allowed so much, and only if you meet the banks criteria. The managers had more available, but it was still limited. If you’re committed to solving this over the phone, ask for the executive office or for the CEO Peter Chase, which will at least get you to the top of the food chain quicker.
However, I sincerely recommend that you do not call, but that you actually walk into a bank (the one who opened your account, preferably, but it sounds like you opened your account before you moved?) The bank where I worked, branch managers had more autonomy. They were in a way more directly responsible for your account. Branches were able to do things that were frankly impossible for us (not just credit).
Also, as far as overdraft protection, I have it linked to my savings account. That way I am not tempted by the money, but I am protected from surprises.
However, a final note of sympathy for the bank, the error was not their fault. The fault lies with Colonial bank, and Taylor, Bean, & Whitaker (who put your account in their hands) should be the one reimbursing you your fees. Chase paid all did the charges that came out of your account when you did not have the money, instead of bouncing those checks. They credited you not because they made a mistake, but because you are a good customer. How is TB&W going to reimburse you for the inconvenience they caused you? This is their error.
I agree that the ovedraft fees are not the fault of Chase. I’m not happy about paying them, but my beef is that I was told two different things, and they didn’t honor what they told me.
And after adding up the fees that the manager I talked to yesterday, quoted me, I’ve still been overcharged.
My next step is to drop by the branch office. You’re right in that I can’t get to my original branch, as it’s 100 miles away. But I’ll give the local branch a try.
I had a similar problem with American Express. I had always paid on time and have a great credit score, but my internet payment did not go through – probably my mistake, not waiting for a confirmation code. When I spoke to American Express I was told they had changed policy and couldn’t reverse any penalty fees. I sent an email explaining all the details and was surprised to find they did make an “exception”. Try email and a letter – it sound like they should excuse some of those fees.
if you have ANY military connections in your family that use USAA you should switch in a heart beat — THE BEST SERVICE HANDS DOWN. They would never let something like this happen.
I had a similar problem with bank of America….so when I moved to a new area and I was concern with large checks (house sale) coming in and putting a hold on my funds I talked to my bank and they were great. There was only a 3 day hold on the check and not for the full amount and we added a overdraft so there is no way I could be over drawn.
The bank’s name is Compass Bank….check them out’ I have only been a customer with them for a short time but it is the bank I have incountered in the past 40 years….they have many different plans…….best of luck to you
Credit Union friend! Credit Unions rock. I have banked at ours for over 15 years and I’ll never go to a big bank again. Plus they are entirely online now, just like the big banks, so I am not giving up the services. Oh, and they treat me like a human being. I had a similar situation last year and my CU refunded every fee and was quick and cordial about it. I only had to talk to one person and it was done.
Check your area. Most CU’s you just need to live in or work in the community to be apart of.
Unfortunately our local credit union charges outrageous fees. I used to have a savings account with them, but the after they changed their fee structure, I left.
We have a pretty good local bank, Premier West, that I’m considering switching to.
My parents had credit cards since there were credit cards to be had. They always paid on time – often early – for decades. Then, my poor father went through a “time change” – he developed Alzheimer’s. His payments were late, for probably about six months before I caught on. All his cards were cancelled, and they refused to reinstate – in fact, I was told by one that what they did in the past no longer counts for anything anymore.
I used to work for First Union, but couldn’t take it after a year of seeing what the fees we charged were doing to people. So often it was one simple mistake they made that snowballed (largely due to the way they pay items highest to lowest ensuring everything bounces). Single moms would call in in tears because their whole paycheck was sucked up to cover what I considered to often be bogus fees (it was the unavailable funds fee that finally sent me over the edge). I would refund as much as I was allowed (1 or 2) and make sure the customer understood all the rules and possibilities for o/d protection before we got off the phone, but it was little consolation. We have a savings acct. linked as our overdraft protection and are lucky to be with a wonderful credit union where I’ve banked since I was 12. Do not sign with any bank until you’ve seen their complete schedule of fees (usually in a size 4 font) and make sure you understand if they will place holds on incoming deposits for the first 6 months or so since you’re a new customer. I can’t tell you how many people were hugely overdrawn that way. Since you’ve been a really good customer for a long time, you may not realize that there are some rules/regs that only apply to new customers or those who have recently bounced checks, etc. I saw someone earlier said keep asking for supervisors, but that rarely helps. Usually I would refund more than a supervisor would. However, going in face to face and then spending some time writing well thought out letters to higher ups can often yield results. I’m sure it still stings, but it could open an opportunity for you to post some articles that could prevent someone from a similar situation, or maybe a short guide on finding banks and understanding the regs that would be good for recent graduates as well. Best wishes!
Major bummer….
I’d heartily recommend Sterling Savings if you have one in the area – or Bank of Astoria/Columbia – if there’s one there. They are smaller local banks/regional….
Both of mine are within 9 city blocks of me – and there is a personal relationship going on…. If I have a concer, I just pop in, and it’s taken care of.
And yes, get the overdraft protection!!!
You should call the local newspaper and TV station and have them do a story about it. If the story gets enough attention then Chase will do something about it to prevent a public relations fiasco. If it makes the newspaper, you can send a copy of the article to the President of Chase Bank. They never like negative press.
This has been an interesting story in bad customer service all the way around, both with your mortgage company and Chase.
I actually switched to Washington Mutual earlier this year after becoming unhappy with Union Bank. Of course, now WAMU is owned by Chase. So far, so good but I’m interested in hearing the rest of your story as it unfolds.
This is still outrageous. When you’re living frugally and you get hit with enormous fees that are literally throwing money down the can through no fault of your own, it must be painful.
Suggestions (may or may not work):
1) Do you have a local Chase branch where you opened your account? If so, try going in for a face-to-face meeting with the manager. They are often the ones who will take the time to review your account AND CAN OFTEN OVERRIDE “policy.” People in call centers often seem bound (and unfortunately even at higher levels are forced to read by their book).
2) If you change banks, small local ones scare me. Although they are strictly bound by tons of regulation, they tend to go under more easily. Virtually all are FDIC insured, but if it gets to that point, you could be stuck with months of waiting for recovery if the bank goes under. I’ve been saddened to read in the news of banks in farming communities here in CO that have gone under. While customers should eventually get their money back, many farmers have gone under because of immediate cash flow needs whilst waiting for recovery of money that is theirs.
3) Many “big” banks can be good (goes back to research, research, research, on soundness). E.g., WaMU was a “big bank”, but there were many trouble signs over the last few years, which eventually resulted in acquisition by Chase.
Much of your experience will go back to having a relationship with the local branch. I bank with US Bank. They’ve earned my loyalty to the point that when I moved to Vermont (and the nearest US Bank was in Ohio), I stuck with them despite the inconvenience. Because of my history with them, they were able to jump through hoops for wiring funds on the downpayment on my house there. Just last month, I needed their help. I was part of a massive lay-off of 12,000 employees of UTC back in March and lived off of life savings. Unfortunately, I reached the point that all emergency funds were exhausted and I had to make a major transfer from another fund source. Because the amount was large, the bank would normally hold the deposit for a few days. I went in and talked with the branch manager. He reviewed my account and also contacted the branch in Washington where I opened the account. After reviewing a strong history, they lifted the hold which allowed my bill payments to go through (saving hundreds in OD fees).
I hope everything works out for you. It’s so unfair to have that money (that you could use for feeding your family, working on debt, etc.) just thrown away.
We to have had problems with Chase and canceled all our services with them over the last year. I experienced much the same as you did with a very impersonal “these are the rules” inflexibility. If a company wants to keep your business they will work with you. You should find out who the regional director is for your area and write to them. or just start at corporate levels, they hate hearing from customers (I worked for a bank for over 20 years, trust me, they hate it). and use the names of all these people you talked to.
Ugh… I can’t imagine (although I can… because something similar happened to us, once.) Customer service does not really exist anymore.. just automation. Getting a live person to give you a personal response is almost impossible. Reminds me of Auto-follow messages on Twitter.. LOL
The banking industry is highly competitive, so you have all the reason in the world to exercise your rights as a consumer. Vote with your feet!!
Dan
Casual Kitchen
The sad thing it isn’t just Chase– customer disservice is common these days. The only solution will be people voting with their pocketbooks– customers leaving will bring changes . . .
In my line of work I work with mortgagees nearly every day. Chase is one of the worst to deal with. So many of my customer have had major problems with their Chase mortgages.
You are so right! I have been going through he%$ with Chase Mortgage for over a year. They have even aknowledged there are some serious issues with my account(errors on their part) and after finally getting so angry and frustrated, I emailed the CEO, Jamie Dimon. I recvd a reply from his secretary Gloria-Figueroa stating I would recv contact from Senior Management within 48 hours. I gave them 48 hours to the minute, and emailed back promising I would be contacting a lawyer. Within an hour of that email, I received a call from Chases Executive Resolution Group. Needless to say, this was on August 13th, and today October 5th, a resolution has not been found. Thankfully, I send my payments by Bank Check, certified mail. I am current in my payments, and today my online statement shows I am 6 months behind. I am a single mom, raising a 4 year old boy. I saved for years to buy a small 660 square foot home for us. I plan to fight no matter how big Chase is, I will not give up. I will not allow them to take my home. Anyone who can offer some good advice, I would like to hear it.
Ugh I hate this for you! I am going through a similar debacle with SunTrust Bank. I had a business account with them for a now-defunct business. The account has been closed for three months, but all of a sudden, I receive notice of an overdraft charge and it being sent to collections! It turns out that’s a violation of federal and state debt collections laws, but I’m getting distracted. Since I discovered this a week ago, I’ve spent about 8 hours talking to anyone who would listen and going up the chain of command. And this is over a grand total of $65! However, I have hope that I am going to get this resolved in my favor because I have been persistent. So I encourage you to do the same – to be a thorn in their side until they help you out. And then? Then take your money and run to a credit union. :-) My personal banking is with a local credit union and I couldn’t be happier.
When you change your bank, please check out your local banks as well. These are the ones with 5-10 branches and they really, really provide customer service. We live in a suburb of a major city so we have several options. I first checked them out on Bankrate.com to make sure they were safe (they are and were more highly rated than most of the credit unions and a bank I still use that was taken over by M&T, which is working out well so far). I use one bank for my various savings vehicles, including a checking account for big expenses, such as my escrow. Yes, I do my own escrow because the other local bank that holds my mortgage doesn’t even HAVE an escrow department. Their philosophy is that it would take more people to run that, which would require higher fees and interest rates. They believe that if you can handle the mortgage4 payments, you ought to be able to handle the taxes and insurance as well. Our homeowners insurance is paid automatically paid once a month and real estate taxes are due twice a year.
This is a really long way of saying that you should check out local banks, make sure they are stable, and consider using them.
It’s stories like these that make me so glad that I havemy money in a credit union. I once had an account at Nationsbank (now Bank of America) and will never again give them any of my business. I say, if at all possible, find a good local credit union and keep your money there.
I’m not sure if you’re still reading the comments on this post but thought I’d post a comment just in case.
1. I hate Chase. Just thought I’d get that off my chest. lol
2. I would call TB&W and talk to a manager. Explain that due to their check bouncing, you have incurred several hundred in overdraft fees and you feel it would be their responsibility to pay that money back to you. This is an error on their part and not yours.
I work for a title company and mistakes happen. A disburser may have to void and reissue some checks and the wrong checks might get sent to the client while the good ones are mistakenly shredded. Stuff like that. Anyway…if this happens to our clients due to an error on our part (sending our bad checks) then we never had a problem sending another check to the client to cover the $ that it cost them. All we needed was a copy of the statement showing the overdraft fees or any bounced check fees.
Give it a try. It’s worth a shot! Good luck!
I hate Chase, too. :) I’ll be posting what finally happened tomorrow.
As far as TBW, I’m definitely going to try that route, but at this point, TBW has declared bankruptcy, and the bank they were using for escrow has been seized by the FDIC. I read an article that says checks are being reissued by the FDIC as we speak, and there will be instructions for recovering the $10 NSF fee. As far as the other fees I’m out, I’ll just have to wait and see.
As I was reading your entry I remembered a few years ago, I was hoping to get a finance charge disputed from a credit card. It was the same deal, I had been a customer for years, my credit score was impeccable, but they wouldn’t budge. They said it was their policy, and they didn’t offer credits for any reason. The company? CHASE! Even when I told them that I would cancel the card, they said “go ahead”. And that’s exactly what I did.
You’re not alone dear!
Chase is the worst credit card ever, with worst credit customer service I’ve ever seen. I’m a loyal customer for 2 years, my account is in good standing, and the payments are always on time. My account went over the limit by $3 on a shopping day. I made a generous payment into my credit card a day later to bring to keep it in control and to have a safe buffer. Guess what? at the end of the month, the account was charged an additional $39.99 for overdraft fee, the interest went up from 16% to 24.99%. I called two times to try to waive the overdraft fee, but heard the same message twice (customer service are stiff). I asked to talk to a supervisor, they refused in both times. The say you can dispute only in writing!. What happened to the “first time” courtesey policy that all banks adopt? they responded that they don’t work for other banks!,…etc. etc. I decided to stop business with them. I’ll close all other bank account (Checking & saving) I have with them. Do the online search and you’ll see that you’re not the only person complains about CHASE!.
Long story short, chase got paid twice on a insurance policy placed on my house to protect there home equity loan. when I sold my house after hurrican katrina chase put a lein against the property that had to be setteled to complete the sale when they were the one that had placed a forced policy to protect their intrest. they collected from me not their insurance company. And they know it. I’ve had two attorneys investigate with the same results. We produce the documents and they stone wall. Has anyone had a simular expereince with differnt results?
Sorry to hear about that. I haven’t had an experience like that, so I don’t have much advice. I’d definitely be turning to the attorney general and the Better Business Bureau, though.
That is jacked up, Bill Mullen! Have you contact your state’s attorney general office? I recommend that if you haven’t already tried it. Sheesh. Talk about adding insult to injury. So sorry you had to go through that.