OT: Chase sucks………………….fees fees fees fees fees fees

[KSMountain]

Awesome link, flu!

[Ren]

I’m another Wamu -> Chase customer. My accounts (2 business checking, 1 business credit card, 1 personal checking) were free with Wamu and remain free with Chase. I have a huge number of transactions go through one of my business accounts and frequent transfers. I have unlimited ATM transactions (at least I’ve never run into a limit), zero fees of any sort, easy and fast online banking (I only had the issue on one day last week, it was the first time ever, and still logging in fine today). I’ll be the first one to go online and complain if/when I have an issue, but it’s been years now, and so far they’ve given me no reason to switch.

Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.

[Ren]

I’m another Wamu -> Chase customer. My accounts (2 business checking, 1 business credit card, 1 personal checking) were free with Wamu and remain free with Chase. I have a huge number of transactions go through one of my business accounts and frequent transfers. I have unlimited ATM transactions (at least I’ve never run into a limit), zero fees of any sort, easy and fast online banking (I only had the issue on one day last week, it was the first time ever, and still logging in fine today). I’ll be the first one to go online and complain if/when I have an issue, but it’s been years now, and so far they’ve given me no reason to switch.

Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.

[Ren]

I’m another Wamu -> Chase customer. My accounts (2 business checking, 1 business credit card, 1 personal checking) were free with Wamu and remain free with Chase. I have a huge number of transactions go through one of my business accounts and frequent transfers. I have unlimited ATM transactions (at least I’ve never run into a limit), zero fees of any sort, easy and fast online banking (I only had the issue on one day last week, it was the first time ever, and still logging in fine today). I’ll be the first one to go online and complain if/when I have an issue, but it’s been years now, and so far they’ve given me no reason to switch.

Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.

[Ren]

I’m another Wamu -> Chase customer. My accounts (2 business checking, 1 business credit card, 1 personal checking) were free with Wamu and remain free with Chase. I have a huge number of transactions go through one of my business accounts and frequent transfers. I have unlimited ATM transactions (at least I’ve never run into a limit), zero fees of any sort, easy and fast online banking (I only had the issue on one day last week, it was the first time ever, and still logging in fine today). I’ll be the first one to go online and complain if/when I have an issue, but it’s been years now, and so far they’ve given me no reason to switch.

Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.

[Ren]

I’m another Wamu -> Chase customer. My accounts (2 business checking, 1 business credit card, 1 personal checking) were free with Wamu and remain free with Chase. I have a huge number of transactions go through one of my business accounts and frequent transfers. I have unlimited ATM transactions (at least I’ve never run into a limit), zero fees of any sort, easy and fast online banking (I only had the issue on one day last week, it was the first time ever, and still logging in fine today). I’ll be the first one to go online and complain if/when I have an issue, but it’s been years now, and so far they’ve given me no reason to switch.

Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.

[briansd1]

[quote=Ren]
Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.[/quote]

Nobody is disputing that a large percent of the population has financial management problems. But isn’t is our society’s job to help them?

If someone has only $1 in the bank, and overdraws the account by mistake at McDonald’s, how is it to our society’s benefit to allow the bank to charge them $20 overdraft fee? Simply decline the transaction and be done with it.

To me, free basic banking is the same as free over-the-air broadcast and universal lifeline telephone. It wouldn’t be necessary if employers were required to pay in cash if the employees so chose.

When check payments are obligatory, banks get an automatic stream of customers which they prey upon.

[briansd1]

[quote=Ren]
Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.[/quote]

Nobody is disputing that a large percent of the population has financial management problems. But isn’t is our society’s job to help them?

If someone has only $1 in the bank, and overdraws the account by mistake at McDonald’s, how is it to our society’s benefit to allow the bank to charge them $20 overdraft fee? Simply decline the transaction and be done with it.

To me, free basic banking is the same as free over-the-air broadcast and universal lifeline telephone. It wouldn’t be necessary if employers were required to pay in cash if the employees so chose.

When check payments are obligatory, banks get an automatic stream of customers which they prey upon.

[briansd1]

[quote=Ren]
Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.[/quote]

Nobody is disputing that a large percent of the population has financial management problems. But isn’t is our society’s job to help them?

If someone has only $1 in the bank, and overdraws the account by mistake at McDonald’s, how is it to our society’s benefit to allow the bank to charge them $20 overdraft fee? Simply decline the transaction and be done with it.

To me, free basic banking is the same as free over-the-air broadcast and universal lifeline telephone. It wouldn’t be necessary if employers were required to pay in cash if the employees so chose.

When check payments are obligatory, banks get an automatic stream of customers which they prey upon.

[briansd1]

[quote=Ren]
Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.[/quote]

Nobody is disputing that a large percent of the population has financial management problems. But isn’t is our society’s job to help them?

If someone has only $1 in the bank, and overdraws the account by mistake at McDonald’s, how is it to our society’s benefit to allow the bank to charge them $20 overdraft fee? Simply decline the transaction and be done with it.

To me, free basic banking is the same as free over-the-air broadcast and universal lifeline telephone. It wouldn’t be necessary if employers were required to pay in cash if the employees so chose.

When check payments are obligatory, banks get an automatic stream of customers which they prey upon.

[briansd1]

[quote=Ren]
Anyone who gets upset about being charged fees for being overdrawn has other problems besides their bank. Unless you’re so young that you’re living in a frat house, no transaction should put you anywhere near a zero balance.

Our investment accounts are with Schwab. We’ve had 99% great experiences with them, but the 1% definitely accelerated the gray hair. The only reason we didn’t leave them out of principle was because of the pain-in-the-ass factor of finding a replacement.[/quote]

Nobody is disputing that a large percent of the population has financial management problems. But isn’t is our society’s job to help them?

If someone has only $1 in the bank, and overdraws the account by mistake at McDonald’s, how is it to our society’s benefit to allow the bank to charge them $20 overdraft fee? Simply decline the transaction and be done with it.

To me, free basic banking is the same as free over-the-air broadcast and universal lifeline telephone. It wouldn’t be necessary if employers were required to pay in cash if the employees so chose.

When check payments are obligatory, banks get an automatic stream of customers which they prey upon.

[stockstradr]

My quick comment is to confirm everyone’s fears about Bank of America.

We just dumped them, after three months trying them out for checking/savings products.

It was a nightmare.

Just one of many examples: several “experts” manning BoA’s customer service lines told us to get their “Growth Cash Maximizer” savings account to meet our need of making a half-dozen ATM withdrawals per month from mainland China through the China Construction Bank.

Background: they emphasized that account would give us good interest rate plus allow us to benefit from the BoA “free” ATM withdrawals through any China Construction Bank terminal in mainland China.

So we did all the ground work to set up and fund that “Growth Cash Maximizer” account.

…only to then find:

1) ATM withdrawals CANNOT BE MADE from a “Growth Cash Maximizer” account through ANY China Construction Bank terminal in mainland China.
2) BoA was wrong to recommend ANY savings account for a customer who wants to make multiple ATM withdrawals per month, because regulations require penalty fees be assessed (You are limited to six withdrawals and/or transfers from your savings account each monthly statement cycle by pre-authorized transfer, or telephone/PC transfer [including bill payments]. And, if the account permits transfers by debit card, no more than three of the six limited transfers may be by check or debit card.)
3) The BoA hidden fees on ANY BoA savings or checking account are so outrageous and pervasive, it makes owning those BoA accounts simply foolish.

Everyone should also realize fees and poor customer service will only get worse both for Chase and BoA – because recent changes in banking laws are going to hurt their bottom line the worst (because their business model is relatively more dependent on using hidden fees to screw their customers)

There have been several articles, some even seen in the WSJ, that anticipate Chase and BoA will need to ADD MORE FEES in order to compensate for loss of revenues from fees that the new legislation has eliminated.

Clarifications:
-BoA savings accounts, other than “Growth Cash Maximizer” account, can do free ATM withdrawals through China Construction Bank ATMS in mainland China (but the penalty fees are high for excessive transactions)
-BoA checking accounts, , can do free ATM withdrawals through China Construction Bank ATMS in mainland China, and are not subject to the same “excessive withdrawals” penalty fees; however, the other fees on those checking accounts are so numerous that it makes that checking account foolish as well, and the BoA interest rate on those checking accounts is NOT COMPETITIVE at all.

[stockstradr]

My quick comment is to confirm everyone’s fears about Bank of America.

We just dumped them, after three months trying them out for checking/savings products.

It was a nightmare.

Just one of many examples: several “experts” manning BoA’s customer service lines told us to get their “Growth Cash Maximizer” savings account to meet our need of making a half-dozen ATM withdrawals per month from mainland China through the China Construction Bank.

Background: they emphasized that account would give us good interest rate plus allow us to benefit from the BoA “free” ATM withdrawals through any China Construction Bank terminal in mainland China.

So we did all the ground work to set up and fund that “Growth Cash Maximizer” account.

…only to then find:

1) ATM withdrawals CANNOT BE MADE from a “Growth Cash Maximizer” account through ANY China Construction Bank terminal in mainland China.
2) BoA was wrong to recommend ANY savings account for a customer who wants to make multiple ATM withdrawals per month, because regulations require penalty fees be assessed (You are limited to six withdrawals and/or transfers from your savings account each monthly statement cycle by pre-authorized transfer, or telephone/PC transfer [including bill payments]. And, if the account permits transfers by debit card, no more than three of the six limited transfers may be by check or debit card.)
3) The BoA hidden fees on ANY BoA savings or checking account are so outrageous and pervasive, it makes owning those BoA accounts simply foolish.

Everyone should also realize fees and poor customer service will only get worse both for Chase and BoA – because recent changes in banking laws are going to hurt their bottom line the worst (because their business model is relatively more dependent on using hidden fees to screw their customers)

There have been several articles, some even seen in the WSJ, that anticipate Chase and BoA will need to ADD MORE FEES in order to compensate for loss of revenues from fees that the new legislation has eliminated.

Clarifications:
-BoA savings accounts, other than “Growth Cash Maximizer” account, can do free ATM withdrawals through China Construction Bank ATMS in mainland China (but the penalty fees are high for excessive transactions)
-BoA checking accounts, , can do free ATM withdrawals through China Construction Bank ATMS in mainland China, and are not subject to the same “excessive withdrawals” penalty fees; however, the other fees on those checking accounts are so numerous that it makes that checking account foolish as well, and the BoA interest rate on those checking accounts is NOT COMPETITIVE at all.

[stockstradr]

My quick comment is to confirm everyone’s fears about Bank of America.

We just dumped them, after three months trying them out for checking/savings products.

It was a nightmare.

Just one of many examples: several “experts” manning BoA’s customer service lines told us to get their “Growth Cash Maximizer” savings account to meet our need of making a half-dozen ATM withdrawals per month from mainland China through the China Construction Bank.

Background: they emphasized that account would give us good interest rate plus allow us to benefit from the BoA “free” ATM withdrawals through any China Construction Bank terminal in mainland China.

So we did all the ground work to set up and fund that “Growth Cash Maximizer” account.

…only to then find:

1) ATM withdrawals CANNOT BE MADE from a “Growth Cash Maximizer” account through ANY China Construction Bank terminal in mainland China.
2) BoA was wrong to recommend ANY savings account for a customer who wants to make multiple ATM withdrawals per month, because regulations require penalty fees be assessed (You are limited to six withdrawals and/or transfers from your savings account each monthly statement cycle by pre-authorized transfer, or telephone/PC transfer [including bill payments]. And, if the account permits transfers by debit card, no more than three of the six limited transfers may be by check or debit card.)
3) The BoA hidden fees on ANY BoA savings or checking account are so outrageous and pervasive, it makes owning those BoA accounts simply foolish.

Everyone should also realize fees and poor customer service will only get worse both for Chase and BoA – because recent changes in banking laws are going to hurt their bottom line the worst (because their business model is relatively more dependent on using hidden fees to screw their customers)

There have been several articles, some even seen in the WSJ, that anticipate Chase and BoA will need to ADD MORE FEES in order to compensate for loss of revenues from fees that the new legislation has eliminated.

Clarifications:
-BoA savings accounts, other than “Growth Cash Maximizer” account, can do free ATM withdrawals through China Construction Bank ATMS in mainland China (but the penalty fees are high for excessive transactions)
-BoA checking accounts, , can do free ATM withdrawals through China Construction Bank ATMS in mainland China, and are not subject to the same “excessive withdrawals” penalty fees; however, the other fees on those checking accounts are so numerous that it makes that checking account foolish as well, and the BoA interest rate on those checking accounts is NOT COMPETITIVE at all.

[stockstradr]

My quick comment is to confirm everyone’s fears about Bank of America.

We just dumped them, after three months trying them out for checking/savings products.

It was a nightmare.

Just one of many examples: several “experts” manning BoA’s customer service lines told us to get their “Growth Cash Maximizer” savings account to meet our need of making a half-dozen ATM withdrawals per month from mainland China through the China Construction Bank.

Background: they emphasized that account would give us good interest rate plus allow us to benefit from the BoA “free” ATM withdrawals through any China Construction Bank terminal in mainland China.

So we did all the ground work to set up and fund that “Growth Cash Maximizer” account.

…only to then find:

1) ATM withdrawals CANNOT BE MADE from a “Growth Cash Maximizer” account through ANY China Construction Bank terminal in mainland China.
2) BoA was wrong to recommend ANY savings account for a customer who wants to make multiple ATM withdrawals per month, because regulations require penalty fees be assessed (You are limited to six withdrawals and/or transfers from your savings account each monthly statement cycle by pre-authorized transfer, or telephone/PC transfer [including bill payments]. And, if the account permits transfers by debit card, no more than three of the six limited transfers may be by check or debit card.)
3) The BoA hidden fees on ANY BoA savings or checking account are so outrageous and pervasive, it makes owning those BoA accounts simply foolish.

Everyone should also realize fees and poor customer service will only get worse both for Chase and BoA – because recent changes in banking laws are going to hurt their bottom line the worst (because their business model is relatively more dependent on using hidden fees to screw their customers)

There have been several articles, some even seen in the WSJ, that anticipate Chase and BoA will need to ADD MORE FEES in order to compensate for loss of revenues from fees that the new legislation has eliminated.

Clarifications:
-BoA savings accounts, other than “Growth Cash Maximizer” account, can do free ATM withdrawals through China Construction Bank ATMS in mainland China (but the penalty fees are high for excessive transactions)
-BoA checking accounts, , can do free ATM withdrawals through China Construction Bank ATMS in mainland China, and are not subject to the same “excessive withdrawals” penalty fees; however, the other fees on those checking accounts are so numerous that it makes that checking account foolish as well, and the BoA interest rate on those checking accounts is NOT COMPETITIVE at all.

[Author]

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