I did a Chase open checking and savings account and the MS went fine. I never found an opportunity to do a shop to close the account for a MS where I'd go to the bank in person looking for those papers to scan in. This is where things start to go very wrong.
I had nearly drained the checking account, so I called in on the main 1-800 number and asked them to transfer the savings account funds to the checking account and close the savings account over the phone. The phone representative was too friendly and the process did not involve reading any legal warning of the closure and having me verbally agree to the closure.
Sure enough, I received my first overdraft savings to checking transfer notice (with fees) in the mail. I call back a second time and politely ask for a supervisor and this time I am assured that they will reverse the fee as a "One time courtesy" and am read the legal notifications and assured that they closed the savings account and transferred the funds to the checking account. I documented the time of the call, the name of the supervisor and even received a verification number for the account closing.
I use the card again and sure enough, I receive another overdraft fine and statement in the mail. I call back for the third time and the second line supervisor (I asked for a supervisor and then was transferred to a "problem resolution manager" informed me that the account could not be closed because there were additional overdraft transfers ($5 per swipe) that had not been removed and I was not informed of and the account had a negative balance. At this point, I was livid, yet I kept a cool tone and was assured that they would remove all the charges and close the account and I documented the call details and supervisors name and was given a "complaint number" instead of an account closure confirmation. After this third call, I actually believed that they would close the account.
Two days later, I receive the welcome packet in the mail that everyone here has scanned in before. It welcomed me to my new checking account ending in the same four digits as my savings account that was to be closed after the third long call.
I decided that I better not use the card as the account surely had a $0 or negative balance. Calling Chase was futile and I had a mountain of evidence that they have a serious problem.
TL;DR:
I know someone who works for a bank and told them my situation and they advised me to not file a complaint with the Consumer Protection Financial Bureau directly as that would not really bother the bank as they have little ability to fine them. The gave me the link to the Federal Reserve and told me that is the one thing the bank takes very seriously as they will distribute the complaint to the CPFB and Attorney Generals office as well!
I filled out the complaint form with all the documented call times, people, confirmation and complaint numbers and scanned in the documents like it was a MS. The next day, I had a case # for the Federal Reserve as well as another case number for my complaint that was also forwarded to the CPFB. This set a fire under Chase and the next day I received a very polite voicemail from Chase's Executive offices with a request that I call back my new personal banker with a name and direct phone number. I call back and get voicemail and hang up. Five minutes later, the call is returned based off the caller ID and they know who I am.
I am assured that they will review the recordings of my calls and use them as a training opportunity. I then receive a non form letter with a sincere apology with the word "sorry" in it as well as a detailed explanation and breakdown of all fees they credited me and a statement of account closure. Next time, I will go to the Federal Reserve after the second bad contact with a bank.
LINKS:
Federal Reserve Bank Complaint Form (File here and they will open complaint with CFPB and Attorney General)
[forms.federalreserveconsumerhelp.gov]
CFPB
[www.consumerfinance.gov]
Edited 3 time(s). Last edit at 08/15/2017 10:40AM by scanman1.
I had nearly drained the checking account, so I called in on the main 1-800 number and asked them to transfer the savings account funds to the checking account and close the savings account over the phone. The phone representative was too friendly and the process did not involve reading any legal warning of the closure and having me verbally agree to the closure.
Sure enough, I received my first overdraft savings to checking transfer notice (with fees) in the mail. I call back a second time and politely ask for a supervisor and this time I am assured that they will reverse the fee as a "One time courtesy" and am read the legal notifications and assured that they closed the savings account and transferred the funds to the checking account. I documented the time of the call, the name of the supervisor and even received a verification number for the account closing.
I use the card again and sure enough, I receive another overdraft fine and statement in the mail. I call back for the third time and the second line supervisor (I asked for a supervisor and then was transferred to a "problem resolution manager" informed me that the account could not be closed because there were additional overdraft transfers ($5 per swipe) that had not been removed and I was not informed of and the account had a negative balance. At this point, I was livid, yet I kept a cool tone and was assured that they would remove all the charges and close the account and I documented the call details and supervisors name and was given a "complaint number" instead of an account closure confirmation. After this third call, I actually believed that they would close the account.
Two days later, I receive the welcome packet in the mail that everyone here has scanned in before. It welcomed me to my new checking account ending in the same four digits as my savings account that was to be closed after the third long call.
I decided that I better not use the card as the account surely had a $0 or negative balance. Calling Chase was futile and I had a mountain of evidence that they have a serious problem.
TL;DR:
I know someone who works for a bank and told them my situation and they advised me to not file a complaint with the Consumer Protection Financial Bureau directly as that would not really bother the bank as they have little ability to fine them. The gave me the link to the Federal Reserve and told me that is the one thing the bank takes very seriously as they will distribute the complaint to the CPFB and Attorney Generals office as well!
I filled out the complaint form with all the documented call times, people, confirmation and complaint numbers and scanned in the documents like it was a MS. The next day, I had a case # for the Federal Reserve as well as another case number for my complaint that was also forwarded to the CPFB. This set a fire under Chase and the next day I received a very polite voicemail from Chase's Executive offices with a request that I call back my new personal banker with a name and direct phone number. I call back and get voicemail and hang up. Five minutes later, the call is returned based off the caller ID and they know who I am.
I am assured that they will review the recordings of my calls and use them as a training opportunity. I then receive a non form letter with a sincere apology with the word "sorry" in it as well as a detailed explanation and breakdown of all fees they credited me and a statement of account closure. Next time, I will go to the Federal Reserve after the second bad contact with a bank.
LINKS:
Federal Reserve Bank Complaint Form (File here and they will open complaint with CFPB and Attorney General)
[forms.federalreserveconsumerhelp.gov]
CFPB
[www.consumerfinance.gov]
Edited 3 time(s). Last edit at 08/15/2017 10:40AM by scanman1.