18 months ago I was in need of a new bank. Newly divorce and soon to be moving across the country, I thought to choose a nationwide bank with branches in every state. I went with JP Morgan Chase. They had free checking and a great rewards program. In addition, I had carried a Chase credit card for a decade and had never encountered any problems.
After settling and opening my new free checking at Chase I received my Chase credit card statement from the move. I had been double charged by the movers.
Easily dealt with, right? I contested the charges, submitted my paperwork, and the bill was corrected the next month.
6 months later, the charges were re-issued. Chase said they never received my paperwork. I re-submitted it.
And re-submitted it.
In the end, I emailed the paper work, mailed the paper work and faxed it twice. Then I took it to the local Chase branch and they faxed it. When Chase still insisted they didn't get the paper work, the branch manager at the Chase branch faxed the paper work.
If that wasn't infuriating (and a huge waste of my time) enough, the Chase Disputes Department shut down for 6 weeks and refused to take calls. In addition, the charges re-issued 6 months later put me over my credit limit. As a penalty Chase raised my interest rate to 29.9%.
In the mean time, my 'free' Chase checking account started accruing service fees. When asked Chase representatives stated I needed a direct deposit to qualify for the account. When I responded I had multiple direct deposits to the account, I was told the direct deposits now had an amount requirement, and I wasn't meeting this new requirement.
Randomly, JP Morgan Chase started putting holds on my deposits. I asked reps, managers, and customer service. No one could pin point why sometimes holds would be put on the deposits.
Needless to say I closed all accounts with Chase. JP Morgan Chase was simply too costly to do business with, and worse, there was no process to resolve multiple costly Chase mistakes. Chase is too big to be bothered by little gnats that are their individual customers.
Now I bank at a local Credit Union. I watch the same money I used to spend on Chase fees accrue in my new savings account. This year, thanks to leaving JP Morgan Chase, Christmas is paid for!