Double Dipping

Chase bought WAMU not long ago. On July 26, the conversion finally took place, which means all the WAMU customers are now Chase customers.

On July 18, 2009, I was charged the annual $36 service fee for the overdraft line of credit protection for my perosnal checking account.

On July 27, 2009, I called Chase attempting to have that $36 charge waived because Chase does not charge an annual service fee for the overdraft line of credit protection. Instead, a $10 transaction fee is added to each overdraft, plus interest for the balance.

Guess what? After visiting two local Chase branches, and spent hours talking to 3 telephone bankers and their 2 supervisors on the phone, Chase's research department finally called me and told me the verdict that Chase would not reverse the service charge. The argument was that the $36 was charged prior to the conversion, and Chase would absolutely not and could not absorb WAMU charges.

I then argued back that I wouldn't mind paying the $36 annual service charge, if it would let me enjoy the priviledge WAMU offered for another year, i.e. no $10 transaction fee each time I overdraft, just pay for the interest and the overdraft balance.

But since I am now officially a Chase customer, I of course can no longer enjoy that priviledge, which means the $36 service charge that I owe Chase now covered only July 18-25, exactly 8 days.

After this run-around incidence, I am going to say goodbye to Chase, and close all my other saving/checking/credit cards with them. Let's see who's winning!!!