Anyone have experience with JP Morgan Chase?

Attention JP Morgan Chase customers: New pricing goes into effect this April

🙄

They just rolled out some new updates regarding their service fees.
There’s a lot of fine print to dig through, so you might want to check their customer service line or browse their website for the full breakdown.
The part that really jumped out at me was how they’re adjusting the "interest"—if we can even call it a little bonus—on positive checking account balances, dropping it from 0.10% down to 0.5%... wait, actually, I think I read that backwards, it's moving from 0.5% down to 0.10%.
Good grief...😢

Eric Jackson11 said:They just rolled out some new updates regarding their service fees.
There’s a lot of fine print to dig through, so you might want to check their customer service line or browse their website for the full breakdown.
The part that really jumped out at me was how they’re adjusting the "interest"—if we can even call it a little bonus—on positive checking account balances, dropping it from 0.10% down to 0.5%... wait, actually, I think I read that backwards, it's moving from 0.5% down to 0.10%.
Good grief...😢

Heh, I think you might have a typo there... 😁

Excuse me!
Just 0.05%!!!

A quick question for the parents out there.

We finally stopped putting money into that savings plan suggested by a teller at JP Morgan Chase—instead, we were withdrawing $300 every month (like most people probably do) just to funnel it all into a specialized housing savings account.
Last summer, we made a lump-sum deposit for each child totaling $1.75—based on the advice that this would secure our right to the $250 incentive—plus the expected interest. We were told this covered us for the entire year.
Then, toward the end of the year, I received notices stating I still needed to deposit either $600 or $267 to qualify for the $250 incentive.
When I went back to the bank, the explanation was simple: if I don't pay up, I just get a smaller incentive 🙄
At the start of the year, my statement showed a total balance of $570.13—converted from USD$1431. 😲
It also noted that for 2011, I am eligible for incentives amounting to $210

Now, I’m left wondering: what happened to the difference in my actual deposits? Based on these numbers, it looks like even with the incentives and interest, I’ll end up with less than what I originally put in.

I went back to the branch, but the representative just kept pointing at spreadsheets showing projected growth over five years. I didn't get a straight answer—other than being told they are a "reputable firm" and that people still sign up for these plans. 🙄

Could someone who has been saving this way for a while explain—in plain English—what happens to that discrepancy? Honestly, I'm hesitant to put more money in for this year. What does your statement actually show? (Feel free to DM me)

Thanks in advance for any help.

To my fellow JP Morgan Chase customers—if you get hit with any unexpected fees today, this might just cheer you up a bit 😁

🤣

I've noticed that online banking fees have gone up by 11% (from $9 to $3.25) and the fee for an authorized representative has spiked by 400% (from $0.50 to $0.67).

Five of them? I’ve still got plenty of breath left in my lungs to blow through my saxophone.
In my case, they actually increased the fee on my statement—this thing labeled "service charge"—from $0.70 up to about $1.60.
Over a six-year stretch, they first tried sending it by mail, then switched to email.
I didn't even use any online banking or anything similar when I reached out to ask, "Why the sudden change?"
The response I got was basically, "It's a new policy, and this is just how things will be sent from now on."
That doesn't really matter to anyone else, I suppose.
But it certainly bothers my husband, you, and all of us in whatever way we can feel it...

How long did you guys have to wait for your loan to get processed?

I turned in all my paperwork last Friday, and honestly, I have no clue why they're taking this long. 🤷 ☕

The Federal Reserve is offering 5% on fixed-term savings if you deposit more than $30,000 for a year.

Given all the talk about the collapse of the dollar, I guess I wonder how safe that actually is.

On the other hand, the Federal Reserve is currently under the ownership of the Republic of Austria,
so until they sell, the bank seems pretty secure. It’s almost like having
a dual guarantee from two nations: Austria covers the bank itself, and the US covers everything up to $133333.
So, what do you think—is money in the Federal Reserve really safe?

Does anyone happen to know what the penalty fee is for paying off a loan early? I took one out back in December 2009🙄☕)

My experience with the mortgage?

Hmm, I'm going to sue them! 🙂

The first hearing is set for July 4th—my first lawsuit against the banks. You can catch the coverage on FOX


I'm not just suing them; I'm taking on the whole region!
Citizens across the country vs. the big banks, Consumer Reports, CNN
http://www.youtube.com/watch?v=YEGjN...feature=relmfu

stay tuned!😁

It has been exactly two weeks since I submitted my request for a letter of intent—specifically regarding the mortgage discharge statement—because I am in the process of paying off their loan by moving it over to another lender... and yet, they still haven't sent a single thing... In the meantime, I have managed to wrap up every other requirement for the bank where I'm seeking refinancing, including the property appraisal, so I am just sitting here waiting on this one document that should, theoretically, take ten minutes to draft...🙂🙂
Meanwhile, the interest rates are climbing, which is dragging my approval process down an even longer hill... and eventually, my title report will expire, since those are only valid for thirty days... and it just keeps going like that... honestly, you wouldn't believe it...🙂🙂

They finally sent over that letter of intent on July 6th.☕ Honestly, I doubt they would have even bothered if I hadn't followed up via email myself...
Anyway, the loan is approved, the contracts are notarized, and I just submitted the paperwork to the county recorder's office for the mortgage—filed today, so hopefully everything will be finalized by tomorrow😁... and once the bank wires the funds to Wells Fargo (to pay off the existing debt), I’m genuinely curious how long it will take them to notify my company's payroll department to lift the wage garnishment... ☕ I suspect it's going to be a bit of a wait... our payroll specialist handles everything for about 1,800 employees (give or take a day or two), and she’ll likely still process one more deduction for the installment due on August 31st—btw—which means the money I actually need will just sit in their account while they sort through the bureaucracy... leaving me waiting even longer for a refund... ☕I don't exactly have much faith that this part will go any faster, considering it took them two full weeks just to issue the letter of intent... so who knows what this stage will look like...🙂🙂

The ongoing saga with Wells Fargo continues...

My mortgage was officially paid off on July 25th—well, technically refinanced through another lender.
I called the bank first thing on the morning of the 26th just to double-check everything—they confirmed the funds had landed.
And since then, I’ve just been sitting here waiting:
1. For them to notify my company's payroll department to stop the automatic deductions... which, naturally, hasn't happened yet... 🙄 —and today is payday...☕
2. For the notification regarding the release of the mortgage lien...

☕

Edit: I’m not sure if it’s even worth mentioning, but the notice for the new payment schedule from the other bank has already arrived... so, as things stand, they’re going to pull two separate payments from my paycheck this month... which means I'll likely be stuck waiting about two weeks to get that overpayment refunded...
just my luck... 🙂

Joshua Gray75 said:The ongoing saga with Wells Fargo continues...

My mortgage was officially paid off on July 25th—well, technically refinanced through another lender.
I called the bank first thing on the morning of the 26th just to double-check everything—they confirmed the funds had landed.
And since then, I’ve just been sitting here waiting:
1. For them to notify my company's payroll department to stop the automatic deductions... which, naturally, hasn't happened yet... 🙄 —and today is payday...☕
2. For the notification regarding the release of the mortgage lien...

☕

Edit: I’m not sure if it’s even worth mentioning, but the notice for the new payment schedule from the other bank has already arrived... so, as things stand, they’re going to pull two separate payments from my paycheck this month... which means I'll likely be stuck waiting about two weeks to get that overpayment refunded...
just my luck... 🙂

So what was the final result?
Also, how did they calculate the interest when you closed the loan?
And what would have happened if your employer hadn't paid you? Like, if they missed one or even two paychecks?
What would the situation look like then?

I am uncertain how other institutions manage their processing times regarding fund availability—specifically, once a salary deposit hits, how many hours pass before it is actually accessible in your account? Has anyone here ever endured a forty-eight-hour delay between the initial deposit and the funds being cleared for use? I find myself navigating this particular delay with Wells Fargo at the moment, so I am curious if anyone else has had similar experiences.

I can't really speak for Wells Fargo, but since my paycheck goes through the Federal Reserve, this is how it usually plays out for me.
The funds typically hit Finland by noon, and then they’re already sitting in my checking account by the next morning.
So, I guess it takes maybe twenty-four hours at most.

So, I get this notification saying I need to swap out my security token, right? I head down to the local Wells Fargo branch, grab the new thing, get back home, and then—of course—realize I don't have the initial PIN. I call customer service, thinking it’ll be an easy fix, but they just tell me I was supposed to get that number while I was still at the bank. I’m like, wait, you mean the PIN isn't universal for all these tokens? And the lady on the phone is all polite, like, "Oh, it is the same, but we simply CANNOT give it to you over the phone"... so, because of some absolute geniuses, I have to drive all the way back to the branch.

It's wild to think that maybe 20,000 people already know that PIN, yet here I am, unable to get it myself because of—well, "security" or whatever...

Does anyone happen to know what the default PIN is for a Wells Fargo token?

The initial PIN should be 1254. From there, you select your own code and enter it twice to confirm—meaning you'll type your new four digits both times, I guess—and then it should eventually say COMPLETE! 😉