Notification regarding a negative balance on my JP Morgan Chase foreign currency account
in Banking, Insurance & Loans ·
Alexander Thompson said:Well, sure, you get the card and all that... the account is multi-currency, so you can hold whatever you want in there, but the fees—including the monthly maintenance stuff—they all get pulled from your "primary" currency...
So, like, my main currency might be USD, even if I’m also holding Euros or Swiss Francs... but all the charges (PayPal, ATM withdrawals, random fees) hit the dollar balance. If you run out of dollars, you're stuck—you won't be able to buy anything even if your other currency balances are looking pretty healthy... and honestly, the fee is basically the same regardless of how many different currencies you've got sitting in there...
Same deal for me. Five different currencies in one account, but with only one primary currency, so every single charge hits that one specific balance.