Chase Bank seems to suck...

[Guest]

1 hour ago, Neonmoon said:

What is the rationale for actually physically going into a bank these days?

I have 3 different community banks. Two that I have debt with. One of those is significant. It’s important for me to know the bankers, ladies sending wires, etc. 

[Fudge Nuggets 19211]

7 hours ago, Neonmoon said:

What is the rationale for actually physically going into a bank these days?

My bank is three blocks from my house so I can ride my bike or walk up there easy enough.  Since no one else physically goes into a bank I never have to wait when I need to withdraw a few grand in cash.

I guess I could go up to the ATM every day for six days straight to get my cash, but that seems kind of inefficient and stupid.

[Neonmoon 38130]

3 hours ago, Fudge Nuggets said:

I need to withdraw a few grand in cash.

Can’t you just do that in Vegas?

[Armybrat 40874]

On 4/2/2022 at 6:56 AM, Bullneck said:

USAA and NFCU are my two banks.  

Sometimes I think the only good thing about them is they aren't BofA.  

What’s with BoA? Just curious.

We opened an account at our local branch four years ago and parked $10k to make it easier to do atm transactions while visiting Europe.
But we’ve done very few transactions with them since then except use the debit card and add some deposits every few months to “keep it active”.

Our main bank has been A+FCU for over 50 years. Eminently satisfied with them, and no problems with BoA so far

[Fudge Nuggets 19211]

16 hours ago, Neonmoon said:

Can’t you just do that in Vegas?

Definitely not within walking distance unless I want to go all Forest Gump. 

[Guest]

16 hours ago, Neonmoon said:

Can’t you just do that in Vegas?

You and Lobo seem to think that bank branches will go away. They won’t. 

[Bullneck 19201]

1 hour ago, Armybrat said:

What’s with BoA? Just curious.

We opened an account at our local branch four years ago and parked $10k to make it easier to do atm transactions while visiting Europe.
But we’ve done very few transactions with them since then except use the debit card and add some deposits every few months to “keep it active”.

Our main bank has been A+FCU for over 50 years. Eminently satisfied with them, and no problems with BoA so far

Crazy fees, for one.  They also may unilateral changes in their rules.  They seemed like they at the forefront of abusing their accountholders (not Wells Fargo bad but still no picnic).  

They have great technology, though.  But not enough employees (too much cost!).  

It's been a good 10 years since I banked there.  

[UTPhil2006 3809]

23 hours ago, Armybrat said:

What’s with BoA? Just curious.

We opened an account at our local branch four years ago and parked $10k to make it easier to do atm transactions while visiting Europe.
But we’ve done very few transactions with them since then except use the debit card and add some deposits every few months to “keep it active”.

Our main bank has been A+FCU for over 50 years. Eminently satisfied with them, and no problems with BoA so far

Yep CU is the best route if applicable.  I love UFCU

[deadshank 24653]

On 4/2/2022 at 8:31 AM, Neonmoon said:

What is the rationale for actually physically going into a bank these days?

Being a “regular” and on a first-name basis with any business you deal with is always a plus.    I often go into the Amegy branch by my warehouse.  I know the manager, the tellers and the others at the location.  Everyone gets and gives a smile and yuck it up a bit.  

Need to call in a favor?  Want a large check verified?  Want personalized service?  Need a little extra help on a difficult issue?   While I use them, banking apps and on-line baking aren’t going to do that for you.  
 

The human experience should be something in which you participate.    

[deadshank 24653]

On 4/2/2022 at 8:31 AM, Neonmoon said:

What is the rationale for actually physically going into a bank these days?

Being a “regular” and on a first-name basis with any business you deal with is always a plus.    I often go into the Amegy branch by my warehouse.  I know the manager, the tellers and the others at the location.  Everyone gets and gives a smile and yuck it up a bit.  

Need to call in a favor?  Want a large check verified?  Want personalized service?  Need a little extra help on a difficult issue?   While I use them, banking apps and on-line baking aren’t going to do that for you.  
 

The human experience should be something in which you participate.    

[deadshank 24653]

Chase back to robber baron fuckery.

Handed out Christmas bonus checks.  Employees that bank with Chase (after I advised against such arrangements) are getting one week holds placed on their deposits.

Right of Chase's playbook, Chase is blaming my bank (Amegy) for the hold saying Amegy won't release the funds in the name of fraud protection.  Never mind that the separate regular paychecks cleared with no hold issues.

Of course, I logged in to on-line banking and all of the funds associated with the bonus checks have cleared out of my Amegy issuing account.

In case I was unclear before:  FUCK CHASE

 

Chase calls more  mystery holds than Big 12 refs.

[Neonmoon 38130]

Chase and Amegy are most likely following the law and complying with Regulation CC

https://www.federalreserve.gov/pubs/regcc/regcc.htm
 

For certain types of deposits, Regulation CC permits financial institutions to delay, for a "reasonable period of time," the availability of funds. A "reasonable" time period is generally defined as one additional business day (making a total of two business days) for on-us checks, and five additional business days (total of seven) for local checks; your institution may impose longer exception holds, but you may have the burden of proving that they are "reasonable." 

Deposits of cash and electronic payments are not eligible for exception holds. The six types of deposits that are eligible are 

• Large deposits (greater than $5,000)--Any amount exceeding $5,000 may be held. Your institution must make the first $5,000 of the deposit available for withdrawal according to your availability policy and the remainder within the "reasonable" time frames discussed above.

   

• Redeposited checks--May be held unless the check was returned because an endorsement was missing or because the check was postdated. In such a case, if the deficiency has been corrected, the check may not be held as a redeposited check.

   

• Deposits to accounts that are repeatedly overdrawn--An account may be considered repeatedly overdrawn and items may be held if
  1. On six or more banking days during the previous six months the account had a negative balance, or would have had a negative balance had checks and charges been paid, or
  2. On two or more banking days during the previous six months the account balance was negative in the amount of $5,000 or more, or would have been had checks and charges been paid. 

   

• Reasonable cause to doubt the collectibility of a check--Doubtful collectibility may exist for postdated checks, checks dated more than six months earlier, and checks that the paying institution has said it will not honor. The general criterion for doubting collectibility is "the existence of facts that would cause a well-grounded belief in the mind of a reasonable person" that the check is uncollectible. The reason for your belief that the check is uncollectible must be included in your notice to the customer. 

   

• Checks deposited during emergency conditions that are beyond the control of your institution--Such checks may be held until conditions permit you to provide availability of the funds. Examples of emergency conditions are natural disasters, communications malfunctions, and other situations that prevent your institution from processing checks as it normally does.

   

• Deposits into accounts of new customers (open for less than 30 days)--Next-day availability applies only to cash, electronic payments, and the first $5,000 of any other next-day items; the remaining amount from next-day items must be available by the ninth business day. You may choose any availability schedule for deposits of other checks into the accounts of these new customers.

[YGIFS 19452]

anybody else noticing that in-person/drive-thru transactions have longer holds on them than just scanning?  I thought in-person relationships were supposed to expedite shit, not slow it up.  I never said all bank branches were going away, just that their real estate footprint would them less viable, and thus we'll see/are seeing a reduction in them.  

[deadshank 24653]

1 hour ago, Neonmoon said:

Chase and Amegy are most likely following the law and complying with Regulation CC

https://www.federalreserve.gov/pubs/regcc/regcc.htm
 

For certain types of deposits, Regulation CC permits financial institutions to delay, for a "reasonable period of time," the availability of funds. A "reasonable" time period is generally defined as one additional business day (making a total of two business days) for on-us checks, and five additional business days (total of seven) for local checks; your institution may impose longer exception holds, but you may have the burden of proving that they are "reasonable." 

Deposits of cash and electronic payments are not eligible for exception holds. The six types of deposits that are eligible are 

• Large deposits (greater than $5,000)--Any amount exceeding $5,000 may be held. Your institution must make the first $5,000 of the deposit available for withdrawal according to your availability policy and the remainder within the "reasonable" time frames discussed above.

   

• Redeposited checks--May be held unless the check was returned because an endorsement was missing or because the check was postdated. In such a case, if the deficiency has been corrected, the check may not be held as a redeposited check.

   

• Deposits to accounts that are repeatedly overdrawn--An account may be considered repeatedly overdrawn and items may be held if
  1. On six or more banking days during the previous six months the account had a negative balance, or would have had a negative balance had checks and charges been paid, or
  2. On two or more banking days during the previous six months the account balance was negative in the amount of $5,000 or more, or would have been had checks and charges been paid. 

   

• Reasonable cause to doubt the collectibility of a check--Doubtful collectibility may exist for postdated checks, checks dated more than six months earlier, and checks that the paying institution has said it will not honor. The general criterion for doubting collectibility is "the existence of facts that would cause a well-grounded belief in the mind of a reasonable person" that the check is uncollectible. The reason for your belief that the check is uncollectible must be included in your notice to the customer. 

   

• Checks deposited during emergency conditions that are beyond the control of your institution--Such checks may be held until conditions permit you to provide availability of the funds. Examples of emergency conditions are natural disasters, communications malfunctions, and other situations that prevent your institution from processing checks as it normally does.

   

• Deposits into accounts of new customers (open for less than 30 days)--Next-day availability applies only to cash, electronic payments, and the first $5,000 of any other next-day items; the remaining amount from next-day items must be available by the ninth business day. You may choose any availability schedule for deposits of other checks into the accounts of these new customers.

None of those conditions apply.  Does Chase's Johnson in your rear feel good?  Not judging.....

And, AGAIN, the funds are out of our account.  Gone.  In possession of Chase.  

FUCK CHASE and their preying on depositors.

Edited December 22, 2022 by deadshank

[Neonmoon 38130]

I’m sure Chase is preying on their depositors. That’s it. There’s no other explanation that is possible.

If you weren’t judging Chase’s Johnson in my rear, you wouldn’t have mentioned it. 

You do realize, when Amegy or Chase holds funds due to Fraud checks, they don’t hold the funds in your account, so yes, the funds are no longer in your account. I don’t know why you keep bringing this up as proof of something nefarious. 

Edited December 22, 2022 by Neonmoon

[deadshank 24653]

7 minutes ago, Neonmoon said:

I’m sure Chase is preying on their depositors. That’s it. There’s no other explanation that is possible.

If you weren’t judging Chase’s Johnson in my rear, you wouldn’t have mentioned it. 

You do realize, when Amegy or Chase holds funds due to Fraud checks, they don’t hold the funds in your account, so yes, the funds are no longer in your account. I don’t know why you keep bringing this up as proof of something nefarious. 

I don't like big banks.  They are bad for our country IMO. 

The funds are in possession of Chase.  The funds have been out of our accounts for 5 days now.  

My banker knows what Chase is up to.  He used to work for Chase and then WF.  He knows they are sorry bastards that like to play games.  He's called them and cussed them out on my behalf as it also upsets him.

Upthread I mentioned that Chase tried to do the same thing with one of their own depositors (a whale at that).  He found out what was going on with the money they took out of his account but refused to release is to Amegy.  After threatening to close his accounts with Chase they immediately released the funds.  Immediately.  Fed guidelines suddenly didn't matter?

Why the sudden change in course for Chase?  They got caught and called on it by a guy that has a stupendous pile of cash in Chase and the stroke to wield power.  

It is nefarious.   Big banks are crooks.

[Guest]

18 minutes ago, deadshank said:

I don't like big banks.  They are bad for our country IMO. 

The funds are in possession of Chase.  The funds have been out of our accounts for 5 days now.  

My banker knows what Chase is up to.  He used to work for Chase and then WF.  He knows they are sorry bastards that like to play games.  He's called them and cussed them out on my behalf as it also upsets him.

Upthread I mentioned that Chase tried to do the same thing with one of their own depositors (a whale at that).  He found out what was going on with the money they took out of his account but refused to release is to Amegy.  After threatening to close his accounts with Chase they immediately released the funds.  Immediately.  Fed guidelines suddenly didn't matter?

Why the sudden change in course for Chase?  They got caught and called on it by a guy that has a stupendous pile of cash in Chase and the stroke to wield power.  

It is nefarious.   Big banks are crooks.

Chase has Jamie Dimon, who kicks ass. They have a fantastic wealth management practice here in Dallas and Texas. They have my mortgage and service it fantastically. Other than that I wouldn’t bank with them on the commercial loan side (mainly because they wouldn’t be interested unless the deal is $200 million) and I’d never hold personal deposits with them. 

That said, this is your employees’ fault. Chase is doing what Reg CC allows them to do. Cut the checks and stop worrying about it / posting about it. This isn’t your problem. 

[Neonmoon 38130]

1 hour ago, deadshank said:

I don't like big banks.  They are bad for our country IMO. 

The funds are in possession of Chase.  The funds have been out of our accounts for 5 days now.  

My banker knows what Chase is up to.  He used to work for Chase and then WF.  He knows they are sorry bastards that like to play games.  He's called them and cussed them out on my behalf as it also upsets him.

Upthread I mentioned that Chase tried to do the same thing with one of their own depositors (a whale at that).  He found out what was going on with the money they took out of his account but refused to release is to Amegy.  After threatening to close his accounts with Chase they immediately released the funds.  Immediately.  Fed guidelines suddenly didn't matter?

Why the sudden change in course for Chase?  They got caught and called on it by a guy that has a stupendous pile of cash in Chase and the stroke to wield power.  

It is nefarious.   Big banks are crooks.

Chase ignoring policies because one of their customers is throwing a titty tantrum does not mean they are crooks. 

Again, your banker may not like the policies of its former employer and has different policies but it does not mean they are crooks. 

Big Banks are not bad for the country IMO. They’re not perfect, but they’re not the boogeyman. They provide a valued service 

 

 

[deadshank 24653]

16 minutes ago, Neonmoon said:

Chase ignoring policies because one of their customers is throwing a titty tantrum does not mean they are crooks. 

Again, your banker may not like the policies of its former employer and has different policies but it does not mean they are crooks. 

Big Banks are not bad for the country IMO. They’re not perfect, but they’re not the boogeyman. They provide a valued service 

 

 

Fair enough.

[B00M 6457]

On 4/6/2022 at 7:32 AM, deadshank said:

The human experience should be something in which you participate.    

[hornmpa96 2620]

On 12/22/2022 at 1:06 PM, Neonmoon said:

Chase ignoring policies because one of their customers is throwing a titty tantrum does not mean they are crooks. 

Again, your banker may not like the policies of its former employer and has different policies but it does not mean they are crooks. 

Big Banks are not bad for the country IMO. They’re not perfect, but they’re not the boogeyman. They provide a valued service 

 

 

One issue with this - The Regs you quoted state that the Bank MAY hold the funds. That also means they have the choice to not hold the funds. Chase is making a choice to the detriment of their depositors. I don’t really have an opinion on that choice but it doesn’t sound like Chase can blame this on the Feds.

[Incredulity 11682]

I never thought I would run into someone stanning for Chase and WF.  crazy.

[Neonmoon 38130]

12 minutes ago, hornmpa96 said:

One issue with this - The Regs you quoted state that the Bank MAY hold the funds. That also means they have the choice to not hold the funds. Chase is making a choice to the detriment of their depositors. I don’t really have an opinion on that choice but it doesn’t sound like Chase can blame this on the Feds.

True, which lends to shanks point that they suck. That is fair, but they’re not crooks 

[Shaggy3.0 1695]

On 12/22/2022 at 12:56 PM, Porterhouse said:

They have a fantastic wealth management practice here in Dallas and Texas.

Circles.  We run in the same.

 

[YGIFS 19452]

Jesus, people like Chase's branch banking, debt servicing, and wealth management?  What year is it?  

I really fucking hate Wells Fargo so I shouldn't talk, but I never bothered to even entertain the notion of using them/ a national bank for asset management.  I know it's a thing, but I guess YMMV.  Then again, for 15 years I thought a family office was just a building/business where blood relatives worked together.  

[Rudiger 1168]

55 minutes ago, Shaggy3.0 said:

Circles.  We run in the same.

 

Same. I love my private bankers at Chase. 

[Chewbacca 7782]

On 12/22/2022 at 8:41 AM, deadshank said:

Chase back to robber baron fuckery.

Handed out Christmas bonus checks.  Employees that bank with Chase (after I advised against such arrangements) are getting one week holds placed on their deposits.

Right of Chase's playbook, Chase is blaming my bank (Amegy) for the hold saying Amegy won't release the funds in the name of fraud protection.  Never mind that the separate regular paychecks cleared with no hold issues.

Of course, I logged in to on-line banking and all of the funds associated with the bonus checks have cleared out of my Amegy issuing account.

In case I was unclear before:  FUCK CHASE

 

Chase calls more  mystery holds than Big 12 refs.

One of my business partners banks with Chase for his personal stuff.  On more than one occasion, Chase has put a hold on his distribution checks.  Back in October, they pulled the money out of our business account the day he deposited the check and then they told him that he needed to wait 2 weeks for the check to clear.  After a bunch of back and forth, as well as discussions about how he has received regular distribution checks from this same checking account and he's one of the owners (and they even mentioned that there's a note on the account saying as much), they still wouldn't release the funds.  It took almost 2 full weeks.

 

Fuck Chase.  

[Chewbacca 7782]

3 hours ago, hornmpa96 said:

One issue with this - The Regs you quoted state that the Bank MAY hold the funds. That also means they have the choice to not hold the funds. Chase is making a choice to the detriment of their depositors. I don’t really have an opinion on that choice but it doesn’t sound like Chase can blame this on the Feds.

Yep.  In my limited experience, Chase chooses to hold the funds longer than other banks.

[Guest]

Bank wealth management practices typically suck. A few regionals do it okay. BOKF for example. Because they’re populated with ex JPM private bankers. JPM is the only domestic money center bank I’d ever hold my wealth with (and I don’t). And probably only true commercial bank. GS, MS, and UBS are the only big options. NT does a pretty good job on the specialty side. The best options are smaller local guys. Here in Dallas it’s Tolleson. 

[YGIFS 19452]

I've heard good things about tolleson.  Way above my paygrade.  Would be curious to know your opinions on Tiedemann.  i don't know their presence in Dallas, but know some folks in Fort Worth.  We are working on a possible self-directed IRA platform with them.  

[deadshank 24653]

@Neonmoon

LOL.

Not LOLing about ROFL.   More about Chase being Chase and you texting “the check is good.”