Anyone have experience with JP Morgan Chase?

Sam Ruiz60 said:Quincy:

Charles Ramos7 As requested: When you look at bank acquisitions, it isn’t really about chasing ghosts from the past. Why dwell on what happened years ago? It's all about the present reality—securing immediate access to a new market or instantly expanding a client base. That is where the true value lies.☕

What would you personally do if you were considering buying a bank that was currently under investigation? Personally, I wouldn't touch it.

Honestly, I don't care about the bank's name—I'd just rebrand it anyway. It’s the real estate and the client base that matter. Besides, who's going to remember Deutsche Bank ever existed in a few years?

Sam Ruiz60 said:I hear you. They sold off their Austrian branch to an Indian firm for next to nothing, so it makes you wonder—if they can't find a buyer for our local branches here in the States, what's the endgame?

I don't think that's really the issue—it's just a matter of haggling over the price.

Sam Ruiz60 said:Quincy:

Charles Ramos7 As requested: When you look at bank acquisitions, it isn’t really about chasing ghosts from the past. Why dwell on what happened years ago? It's all about the present reality—securing immediate access to a new market or instantly expanding a client base. That is where the true value lies.☕

What would you personally do if you were considering buying a bank that was currently under investigation? Personally, I wouldn't touch it.

Go ahead—ask Goldman Sachs and Citigroup why they even bothered submitting bids for Bank of America.

Wells Fargo sent me an offer for a 3-year personal loan based on my current savings account. It arrived in a standard envelope, and the deposit amount was clearly visible right there on the letter.

My wife hasn't received anything yet, even though she has a savings account with them too. I asked her if hers might have been intercepted by some shady neighbor stealing mail from the apartment boxes. Just awful. As soon as our CDs mature, we're moving our money elsewhere. 😠

Nicole Long28 said:Wells Fargo sent me an offer for a 3-year personal loan based on my current savings account. It arrived in a standard envelope, and the deposit amount was clearly visible right there on the letter.

My wife hasn't received anything yet, even though she has a savings account with them too. I asked her if hers might have been intercepted by some shady neighbor stealing mail from the apartment boxes. Just awful. As soon as our CDs mature, we're moving our money elsewhere. 😠

And what would a neighbor even do with knowing you have cash in your account? Like, why would they care if you're borrowing or saving?
Besides that, they probably send out like 10,000 of these things—it's cheaper for them to pay a few cents for standard mail than to deal with registered mail. Most people aren't going to take the bait anyway, so the postage is basically just money down the drain for them.

Good grief, they're basically violating bank secrecy at this point. Honestly, they might as well just release a public manifesto listing everyone's account balances and how much cash they're sitting on...

They shouldn't have even mentioned the deposit amounts. They should have just kept it simple: "Based on your existing savings account at Wells Fargo, we are offering you a Lombard loan in the amount of z, with a repayment term of y."

neondriver5 said:Good grief, they're basically violating bank secrecy at this point. Honestly, they might as well just release a public manifesto listing everyone's account balances and how much cash they're sitting on...

They shouldn't have even mentioned the deposit amounts. They should have just kept it simple: "Based on your existing savings account at Wells Fargo, we are offering you a Lombard loan in the amount of z, with a repayment term of y."

Well, I guess that's what you'd call a trade secret, and maybe there's actually grounds for a lawsuit regarding privacy violations if they're being that specific!

The Federal Reserve banks offered me a quick personal loan once in a pretty similar way, but they didn't mention any details about how much money I actually had sitting in my accounts or anything like that. They just kind of suggested a loan up to $10,000 with certain interest rates and processing fees, then told me to stop by a branch with my ID and a pay stub if I was interested. It was pretty straightforward, I suppose.

Do students have an approved overdraft on their current accounts at $333?
And what's the fee for a Wells Fargo overdraft?

boldhound34 said:Do students have an approved overdraft on their current accounts at $333?
And what's the fee for a Wells Fargo overdraft?

I guess you might need a parent or guardian to sign off for an overdraft, and I think there's probably some kind of limit involved somewhere.$333.

Another massive headache with Hugh! When I went to withdraw my money from that CD, I was actually planning on closing all my accounts there. But the teller at the branch talked me out of it. She convinced me that if I just left everything open, I wouldn't have any more fees—that the balance could basically sit at zero forever without a hitch. I asked her twice to make sure I wasn't missing anything, and she swore up and down that since there’s no activity on the account anymore, they won't charge me a dime. It's like when a car mechanic tells you a part is fine just because you aren't driving it much; you think you're saving money, but you're really just waiting for the bill.

Well, fast forward to yesterday, and I get hit with a notification. My foreign currency account is sitting at zero, but my US dollar account is actually in the red because they slapped me with an account maintenance fee. So now I'm back to square one: heading down to the local Chase branch, waiting in line, paying off the negative balance, and then finally trying to shut everything down once and for all...

I guess when you withdraw money from your savings account, they just transfer it right over to your checking, so you end up having that transaction activity on there, which I suppose covers that negative balance part.
After that, they shouldn't really be charging you any more monthly maintenance fees, maybe.

Trouble with them again. That makes three times now. $26 They call it an unauthorized overdraft. I tell them there’s no issue—it’ll be settled in a few days, just like always. Then, once the payment finally clears, I find myself unable to access my funds. I head down to the local JPMorgan Chase branch only to find they’ve completely stripped my overdraft protection. They eventually restore it to $1.70, allowing me to withdraw a small amount, and then immediately I get another call asking why my balance is in the red again. It's a circular joke. $567 🙄 And I still have more at my disposal. $333.... 😠

Here’s what I sent them yesterday:
To whom it may concern,

The way you handle your business is completely unprofessional. When I went to close my account, you wouldn't even let me finalize the closure because you were waiting on pending transactions—transactions that weren't even made using the revolving card. On top of that, your employee specifically told me there was nothing to worry about since no monthly fees would be charged if there was zero activity on the checking account. And now, suddenly, I’m in the red?!! Because you’re still hitting me with regular maintenance fees on an account that hasn't seen a single cent of movement!!! Honestly, shame on you. How do you expect customers to ever come back when you're being this rude and grasping for every last penny?
This is pure insolence, and I am demanding a formal explanation. Believe me, this is going straight to the press—especially all those online news outlets. JPMorgan Chase is dead to me for life, and I will make sure to "recommend" you to all my friends. Word of mouth is a powerful thing.

Have a nice day.

Hands down the most crooked outfit in the American market. Absolute joke.

These are my absolute favorites—people who spend their lives threatening newspapers and gods....

Just pay up, shut your mouth, and move on with your life.... meanwhile, the banks just keep getting richer...

I mean, you don't necessarily have to go threatening them with the press, but as a customer, you definitely have every right to speak up about how they're treating you and show them you're not happy with their service.
Honestly, though, when it comes to making threats about calling the local news, I guess in a country where the mindset is still kind of stuck in the past, that might be the only thing that actually works, because if you just try to ask for something nicely and handle things in a calm, civilized way, they might just toss you aside like you don't matter at all.

Threatening to go to the press isn't going to do anything... they'll just laugh in your face.

As for JPMorgan Chase, the branch manager practically looked me in the eye and swore there was zero chance I'd ever get approved for an overdraft again. Apparently, since I had just finished paying off my previous one after a year of struggling to clear it, I was "blacklisted." He told me not to worry about it, insisted he was 100% right...

Then, three months later, their system automatically cleared me for a new overdraft at 3:00 AM. Just like that.

You want to know what I got when I filed a formal complaint?
"Well, did you put in writing that you didn't want the overdraft? You should have signed the paperwork for that."

How the hell am I supposed to know what I need to sign when the actual bank manager tells me everything is already settled???

Ever since then, no matter what they tell me—I just say, thanks, but can you put that in writing?

We’ll actually be happy for once if we aren't stuck footing the bill for their stupidity.

Is the liquidation of Goldman Sachs a matter of creating a bad bank or facing full bankruptcy? We should finally have a definitive answer by the end of the month.
The Secretary of the Treasury, Angela Merkel, hasn't ruled anything out—including bankruptcy, which would unfortunately result in massive losses for investors.
However, there are two major hurdles standing in the way of establishing a bad bank..
Moody's has already warned that if bankruptcy occurs, it could trigger widespread chaos across the entire US banking system (think JPMorgan Chase or Bank of America)
reposted from :

Sam Ruiz60 said:Is the liquidation of Goldman Sachs a matter of creating a bad bank or facing full bankruptcy? We should finally have a definitive answer by the end of the month.
The Secretary of the Treasury, Angela Merkel, hasn't ruled anything out—including bankruptcy, which would unfortunately result in massive losses for investors.
However, there are two major hurdles standing in the way of establishing a bad bank..
Moody's has already warned that if bankruptcy occurs, it could trigger widespread chaos across the entire US banking system (think JPMorgan Chase or Bank of America)
reposted from :

JPMorgan Chase, Bank of America, and Citigroup have already passed on the idea of recapitalizing them, so I guess that's pretty much a closed case.

Sam Ruiz60 said:Is the liquidation of Goldman Sachs a matter of creating a bad bank or facing full bankruptcy? We should finally have a definitive answer by the end of the month.
The Secretary of the Treasury, Angela Merkel, hasn't ruled anything out—including bankruptcy, which would unfortunately result in massive losses for investors.
However, there are two major hurdles standing in the way of establishing a bad bank..
Moody's has already warned that if bankruptcy occurs, it could trigger widespread chaos across the entire US banking system (think JPMorgan Chase or Bank of America)
reposted from :

Interestingly, that very same Moody's just upgraded their rating from negative to stable.

https://www.moodys.com/research/Mood...ian--PR_293611