Anyone have experience with JP Morgan Chase?

Hey everyone,

So, I was browsing the Federal Reserve website and saw this: "Approval for payment deferrals—essentially a MORATORIUM lasting 6 or 12 months; there's an option for Model I where the client doesn't pay principal but still covers interest, or Model II where they don't pay principal OR interest." Has anyone actually dealt with JPMorgan Chase lately regarding these kinds of moratorium approvals? Does anyone have any real-world info on how they're handling this?

Thanks in advance! 🙂

rapidbadger75 said: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! 😉

Thanks a million, man—you totally saved me from having to deal with a visit to a very lovely government office 😬

Melissa Booth6 said: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’m with Hyp, and honestly, on the very same day our payroll goes through, it’s already cleared and sitting in my checking account... On a side note, Hyp just rolled out the ability for individuals to use batch signing for transfers via Hyponet starting today... which, I suppose, is a case of better late than never.

It’s an absolute disaster. All this bureaucratic nonsense just to secure a single card—and now they want me to go see a notary to certify a fifty-dollar promissory note? It's absurd. $0.00,dati $43Then there are the production costs. $17 So, after all that back and forth, I end up with a standard debit card instead of the revolving credit line I actually requested—and to top it off, the limit is stuck at a measly $2. Unbelievable. $0.00The representative was rushing through everything, barely offering any clarity on the actual terms. It’s painfully obvious their only concern is hitting those sales targets for banking products.
I’ve maintained a steady checking account for years. Every single month, the funds hit without fail—whether it was maternity leave, unemployment benefits, my paycheck, or child allowances. We even have an auto loan that we’ve paid down religiously for three years without missing a single day. And yet, after all that reliability, this is how they treat us? It’s absolute garbage. 👎 They won't even let you take a loss if you want to. It’s pathetic.

I’m looking into kids' savings accounts. Does anyone know if they have a brochure or something I can actually read to understand the terms and conditions? They basically just told me, "Don't bother showing up without a birth certificate," blah, blah, blah... They are just so incredibly helpful and communicative. 🙄

They’re slashing the rates on current accounts. $6.75I’ve never even been able to get my online banking activated, and the SMS alerts don't even show up until the following day. For comparison, JPMorgan Chase sends them the second any change hits the account.

I'm definitely moving my business to another bank.

Oh man, what a total nightmare story. I honestly feel so bad for you.
I keep all my business accounts at the Federal Reserve, and regarding credit cards, I was set up with a revolving line by default even though I asked for a charge card, but I think you can always switch that later if you want. For every single purchase I make, I get an SMS notification about the spending, the balance, and the total debt, plus one once a month on the billing date, and those texts are free, I believe.
When I applied for the credit card, I remember having to go to a notary to verify a wage garnishment statement, $40 if I recall correctly.
The initial card issuance is free, but any replacements are $17.
You can pick whether your payment due date falls on the 10th or the 25th of the month, and I guess you can change that date later on too.

Maintaining a checking account seems to be $2.25 to me, while online banking is $3.00.
There’s an application fee for the credit card which is $33 and an annual membership fee of $67, but maybe you could sign up for that Flexi Plus service package first (it's about $6 a month), and then once they activate it, you apply for the credit card; I think that waives the application fee, so you could just cancel the Flexi Plus package the following month.
The Federal Reserve allows for a total indebtedness of up to five paychecks (between the overdraft limit on your checking and your credit card limit)
.
Maybe check out what other banks are offering as well.
Best,

Hey everyone, has anyone dealt with a debt consolidation loan before? I'm wondering how long the wait usually is for approval. I turned in all my paperwork on December 24th and still haven't heard a peep. I've popped into the branch a few times, and the last thing the teller told me was that her coworker probably hadn't even sent the files over to the Federal Reserve yet because of the holidays, and apparently, they're prioritizing all those end-of-year requests. Honestly, I'm starting to lose my patience a bit... 🙂

Does anyone happen to know more about this I was wondering if anyone has experience with this kind of loan. Also, how does the credit insurance actually work? Like, what specifically does it cover if someone loses their job or something similar?

Anthony Morales3 said:Does anyone happen to know more about this I was wondering if anyone has experience with this kind of loan. Also, how does the credit insurance actually work? Like, what specifically does it cover if someone loses their job or something similar?

I’m pretty sure they cover about 6 payments if you lose your job and maybe 12 if you're out on long-term disability... though honestly, it feels like those 6 payments they claim to "cover" are just things you end up paying for yourself upfront when you first take out the loan anyway...

of course, all that fine print is buried deep on their website somewhere:

EDIT:
over at Zillow, for their mortgage stuff, it says something like this:
Unforeseen life events can happen to any of us. Choose between one of two packages, Assurant/User Insurance
for mortgage loans from MetLife so that you can keep meeting your obligations during unexpected life situations.
During the first 5 years of repayment, in the event of a layoff or extended illness, MetLife insurance takes over up to 6
monthly payments per layoff case (up to 12 total) or up to 12 monthly payments for a single instance of illness (up to 24
total payments), and in the case of death due to illness or accident, they'll pay out 60% of the remaining debt.
By signing up for Assurant, you get a better interest rate and won't have to pay certain fees

I submitted my application yesterday at $12667. They’re looking to take an immediate 6.89% cut out of $38,000 for insurance... When I actually tried to dig into the specifics of the coverage, I realized they weren't being very transparent about the details. It was almost like they were acting like it wasn't even an issue, just saying the funds would be held at the bank. I can't exactly cancel it, or write a formal cancellation, or even sign a mutual termination because apparently those only cover the cancellation fees. She didn't even specify how many installments we're talking about. Hmm, I guess I'll have to see exactly what's going on before I sign anything... if it really turns out to be six installments, then this whole thing is a non-starter. What a mess.

When you open a student account, does that $333 overdraft limit kick in right away, or do you need to wait for a few deposits to hit the account first? I think at Chase, it’s available immediately...

dustyfalcon8 said:When you open a student account, does that $333 overdraft limit kick in right away, or do you need to wait for a few deposits to hit the account first? I think at Chase, it’s available immediately...

Has anyone opened an account over at HSBC? I'm wondering the exact same thing.

Thanks!

Hey everyone,

Just a heads-up—we're updating the fees for debit card transactions when you're pulling cash from ATMs or using a POS terminal here in the States. Starting August 10th, 2013, the new fee will be 1.5%, with a minimum charge of $2.00.

So, does this mean I'm actually gonna get hit with a fee just for using a Citigroup ATM, or am I totally misreading this?

velvetfalcon44 said:Hey everyone,

Just a heads-up—we're updating the fees for debit card transactions when you're pulling cash from ATMs or using a POS terminal here in the States. Starting August 10th, 2013, the new fee will be 1.5%, with a minimum charge of $2.00.

So, does this mean I'm actually gonna get hit with a fee just for using a Citigroup ATM, or am I totally misreading this?

Nah, you're way off... I mean, at that rate, they might as well just have everyone line up inside the branch to withdraw $33...

I got that email too... though honestly, it doesn't make any sense to me that they’d actually implement something like this. I’m seeing the exact same wording in my electronic statements, yet they aren't even providing any specific limitations—just vague mentions of debit cards, ATMs, and POS terminals. If they’re serious about moving forward with this, they’re absolute geniuses. They have their own ATMs, so unless they're planning on shutting them all down, which seems highly unlikely, I don't see the point.

Here’s what the current fee schedule looks like:

.....
Cash withdrawals at HUD ATMs within the US are totally free
Cash withdrawals at HUD ATMs abroad (like in Canada or Mexico and Mexico) have no fees either
Using an ATM or a POS terminal domestically carries a 1.5% fee, with a $20.00 minimum charge

.....

From what I can tell, those domestic fees actually apply to all the other local ATMs that aren't part of the HUD network.
Honestly, nothing seems to have changed at all.🤷

Trying to get a loan restructuring through HUD? You might be better off jumping off a building than dealing with their bureaucracy. They kept my restructuring paperwork sitting in a desk drawer for five months. The staff is utterly incompetent and clearly unqualified for the roles they hold. As for HUD's advertising
DEATH WITH US IS YOUR DESTINY

"Death with us"—that’s their latest logo, I suppose.

I had a business loan with HSBC, but after I lost my job, I fell behind on payments. I eventually settled the debt and applied for a formal restructuring, submitting every single piece of required documentation right on schedule. The lady handling my file sat on those papers in her drawer for two months without even forwarding them. She ended up receiving a third warning and was transferred to the teller department at a different branch. Then, a second lady took over the same file, only to hide the documents in her own drawer for another two months. After all that, they had the audacity to ask me for the same documentation again, which I dutifully provided. I even asked them if I needed to have a zero balance to qualify for the restructuring; they assured me everything was fine and told me to wait. Fast forward a few months, and HSBC suddenly freezes my entire business entity, and then—get this—they demand a BON-1 form. Again, I provide everything promptly and wait. However, the woman managing the process straight up tells me not to hold my breath because they reject 99% of applicants. I’ve been waiting five months now. I even filed formal complaints via email and in person, and they promised a response within 15 days. It has been over a month, and I haven't heard a peep from their service department. In my view, HSBC lacks both competent personnel and effective management; there is zero internal communication. A man I ran into at an HSBC branch simply told me he went to the USPS to handle his restructuring, and everything was resolved within 15 days.
I find it absolutely appalling when employees tell you outright that you won't receive the assistance you're applying for.

Linda Castillo11 said:

Just a whole lot of noise—and none of it matters.

Here’s a solid little deep dive into what’s actually happening over at Citigroup and their current roadmap for a potential sale:
http://north America.aljazeera.net/video/a...iness-14092013

I went into their branch today and honestly, I almost lost my mind. The whole place is a mess and nobody seems to know what they're doing. It’s ridiculous—they have this ticket machine that isn't even working properly, just flashing error messages on the screen (if it's broken, why not just unplug it?), and they don't even have a simple umbrella stand, so people are just leaving them all over the floor. To top it off, I sat there for over 45 minutes, even though when I walked in there were only three people ahead of me and three tellers working. How does that even happen?

It turns out they were prioritizing quick transactions only, leaving the rest of us hanging even when the branch started thinning out! The woman acting as the personal banker was busy with who knows what, and the staff at the regular counters apparently aren't skilled enough—or maybe just don't have the authority—to handle anything else.

I was actually stuck waiting for over half an hour just to deposit 30 bucks into my Hypo savings account the other day.
There was this young couple right in front of me trying to set up some kind of long-term investment account, and honestly, it felt like they were never going to finish.
But hey, I guess things will work out fine eventually.
So, I just politely asked the lady at the teller window if she could maybe walk me through how to transfer funds directly from my online banking at another bank.