JPMorgan Chase & Co. Bank Account Or Service Complaint

Checking account Problems caused by my funds being low

JPMorgan Chase & Co. Bank account or service department,

Checking account Problems caused by my funds being low Texas

I have been banking with Chase Business services for some time and thought I understood how they work in processing transactions. To my surprise, over the weekend I received - non-sufficient fund fees for a withdrawal they said I had funds to make. Their systems are usually very accurate, but this resulted in another - non-sufficient fund fees for a total of $350.00. So, the first internal transfer between Chase accounts said I had funds and then it said I had funds for - additional transfers of $20.00, $20.00 and $35.00. So I paid a $35.00 transaction for a $20.00 transfer, another $35.00 fee for the second $20.00 transfer and another $35.00 fee for a $35.00 transfer. This is the equivalent of paying 100 % interest for one day or annualized at 36,500 % interest. Their representatives could n't explain why this happened according to their time stamps. So, they guessed on what could have caused it. I spoke with a representative at Chase and a manager, then asked to speak with the supervisor of the manager who said they were not available and would call me back.

JPMorgan Chase & Co. customer in Texas
May 03, 2016

* Source: CFPB Complaint Database

JPMorgan Chase & Co. response to complaint:
Closed with monetary relief

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