Banking Services at Chase Bank

I have two complaints about Chase Bank that I think consumers should be

made aware. The first deals with checking and savings accounts which

were opened at the same time under a promotional offer. As part of

opening the account, I set up automatic deposit of part of my pay and

set up withdrawals from my checking account to be placed into my savings

account. Everything seemed fine for quite a while and then after nearly

eight and a half months, I was informed that the balance in my savings

account was created by having another bank customer's account debited

for the amounts each pay cycle. They were calling to let me know that a

debit from my account would occur to correct this error. Now nothing

online or in the paper statements showed that the source of the money

going into my savings account was any other than my own checking

account. And when the "customer service" employee was discussing the

matter, she asked "Didn't you notice that the money wasn't coming from

your checking account?" To which I responded, "No, I didn't realize

that in your banking institution that the customers were supposed to be

policing the bank to make sure it did it's job as it claimed it would."

No response to that. I then asked why there wasn't a deduction from my

checking account to my savings account when I opened both accounts with

the branch manager who suggested the whole arrangement. She couldn't

answer that. When I asked why it took nearly 9 months to figure out

that the debit was coming from somone else's account, she couldn't

answer that either.

The second issue I ran into with this bank was my deposit of $17,000

into my checking account. Admittedly it was larger than previous

transactions and I expected a hold to be placed on the account. I did

have nearly $5000 in the account at the time of this deposit, most of

which was in my savings account. During the time that the hold is on

the account, I have a pre-arranged charge come through my account from

my debit card. Because of the hold, the funds weren't available from my

checking account, although both online and from the phone banking

service, there was nearly $4000 available from my savings account.

However, when this charge of $5.99 came through, they imposed a service

fee for insufficient funds. When I called to inquire about a refund of

this fee after the hold was lifted (since three days prior, that check

for $17,000 had cleared my account at my credit union), I was told that

it would not be refunded since the funds weren't availablel because of

THEIR hold. I asked why the bank would choose me to make money off of

in such an unscrupulous manner when I knew the check would clear, as it

had been cleared through my credit union 3 days prior to my call, and it

was simply a matter of confirming the funds were available. Again, I

was told that no refund would be allowed, despite the fact that the bank

showed nearly $4000 available in my savings account to cover the charge.

Furthermore, unless you specifically ask to have your checking and

savings account linked for overdraft protection, they won't do it. One

customer service rep told me that some people don't want it linked

because they don't want to have their savings diminished if they

overdraft their account. I said to her "You're kidding me, right?

Instead of paying $7 - still a ridiculous fee - to transfer the money

from savings to checking to deal with an overdraft, they would rather

pay $32?! "Oh yes!, she ignorantly responded.

This bank is trying to make profits from their good customers banking

in good faith. The fees have a place, but not for those who are

legitimately doing transactions that don't cause any losses to the

bank.

I will be closing my accounts with Chase.