Chase Bank - Fees and More Fees

Written by: Andy Watkins - BusinessDetroit.com editor

Boycott J.P. Morgan Chase Bank for taking advantage of hard working folks.


Chase bank and many other banks are playing the fee game and many of it's employees seem to be in on the action. How do I know well it's from personal experience. I've been a Chase Bank customer for years and in the recent years they seemed to have added a new method on increasing revenues for their company. This is how it seems to work at least it has towards myself directly.

- You make a payment on your line of credit, auto loan or home mortgage online or at a branch.
- A day later you receive a letter stating your past due and please mail your payment to this location.
- You mail the payment or pay at a branch thinking everything is current because your received a receipt for the payment.

************ Wrong....you are now late and you don't know it.**************

This is the oldest scam in the world and one of the largest banks in the world is using it to make money.

You then without realizing it get charged a late fee and a hold onto your account. Why do you have a hold on your account you ask...well it's simple they want you to pay more down on the princple of your loan and to make money on late fees. Well they can't do that if you pay your bills on time like I do....so they do this song and dance with 1,000's of customers making millions in fees.

They recently did this to me directly and it made me so mad I couldn't stand it. I made three payments one online, which their system didn't log it due to technical difficultlies and then I mailed one in that they said they didn't receive and then I finally made a payment at a branch and they said sorry can't take the payment you need to call in to our toll free number. The representative answered and asked for a payment over the phone and it would be a $15 charge.

In summary, I did the transaction as they requested and I was charged a $50 late fee and $15 phone payment fee a total of $65 in extra fees. Then the payments they said they didn't received now got processed exactly 24 hours after my payment over the phone was done. So now I'm out of 3 payments of $280 in cash flow and $65 in charges.

That's how it's done....so make sure you to get caught in this old scam. Make sure you get a confirmation number, extention number of the representative, mail payments certified and follow up with your bank to make sure the payments were taken.

Keep a copy of everything.....if that still doesn't work and you feel like you've been taken....contact your State and file a complaint with all the details. Then take them to court. This is the only way scams like this will stop happening to us hard working folks.

Remember Boycott Chase Bank - the only way we can stop companies from taking advantage of people is to stop using their services. Trust me they will get the point right away when their bottom line starts to fall apart.