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We recently finalized our insurance claim over Hurricane Ian damage to our house. Last Monday, I took the last check over to the branch office to deposit into our savings account because the amount was over the mobile deposit limit of $25K. Note we are (make that were) Private Client account holders.
There was a major problem. The teller refused to deposit it, stating some sort of “policy.” There was a line forming behind me, she was the only teller working and the branch manager was not available for me to inquire further. So I left, confused and madder than a hornet.
Back home, called the national number for an explanation. Nobody, including two supervisors, could tell me why the bank would not deposit that check. We had already deposited 4 identical checks from the insurance company in the past months, all large amounts. The CS reps could see those other deposits.
Finally got a hold of the branch manager on the phone later in the day. After making unprofessional comments about the training of those reps on the national level, the man told me that we had to open a business account to enable the deposit. I guess keeping a large balances in three accounts wasn’t good enough anymore. In addition, we are both retired, no need for a business account. I told the manager we would be closing all accounts and his response was basically a sarcastic… do what ya gotta do, lady. I have to wonder how it will go down with auditors, when just under $1M held in three accounts in that bank goes poof from that branch.
Needless to say, we are in the process of moving everything out of Chase, including an investment account. That money was wired to Fidelity today. Once the last few debits come in, we are outta there.
can’t say what your issue was ..we have deposited multiple 7 figure checks in our chase account and never an issue .
in fact we had a real estate llc and never a business account
We have a private advisor assigned to us, supposedly 24/7. That person is MIA. Those that I talked to on the phone had no idea what was going on and why that person was unavailable. We've banked with them since the early 1990s.
We recently finalized our insurance claim over Hurricane Ian damage to our house. Last Monday, I took the last check over to the branch office to deposit into our savings account because the amount was over the mobile deposit limit of $25K. Note we are (make that were) Private Client account holders.
There was a major problem. The teller refused to deposit it, stating some sort of “policy.” There was a line forming behind me, she was the only teller working and the branch manager was not available for me to inquire further. So I left, confused and madder than a hornet.
Back home, called the national number for an explanation. Nobody, including two supervisors, could tell me why the bank would not deposit that check. We had already deposited 4 identical checks from the insurance company in the past months, all large amounts. The CS reps could see those other deposits.
Finally got a hold of the branch manager on the phone later in the day. After making unprofessional comments about the training of those reps on the national level, the man told me that we had to open a business account to enable the deposit. I guess keeping a large balances in three accounts wasn’t good enough anymore. In addition, we are both retired, no need for a business account. I told the manager we would be closing all accounts and his response was basically a sarcastic… do what ya gotta do, lady. I have to wonder how it will go down with auditors, when just under $1M held in three accounts in that bank goes poof from that branch.
Needless to say, we are in the process of moving everything out of Chase, including an investment account. That money was wired to Fidelity today. Once the last few debits come in, we are outta there.
No one at Chase will care that 1mm walks. It’s not a big deal to them. I’ve also never had any issues with them either
I would consider using a broker with that kind of money. Banks are not good for investing your money. I would call Charles Schwab and ask if you could open an account with that check.
They offer free checking and bill pay on the web site so it could replace Chase, but it may pay to keep a local account if you need some face to face services.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,066 posts, read 7,502,913 times
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DW is closing her account.
Poor window service.
She moved money to big and local CU where she gets personal service. I had an account at this local CU, 40 years ago but in another state.
I get free coffee.
I would consider using a broker with that kind of money. Banks are not good for investing your money. I would call Charles Schwab and ask if you could open an account with that check.
They offer free checking and bill pay on the web site so it could replace Chase, but it may pay to keep a local account if you need some face to face services.
i have a chase U-INVEST account .. it’s a brokerage account and i do my own investing, zero commission
I've never had that exact problem, though the ATM would only accept one deposited check of $5000 the other day, had to go inside to deposit the other. Both were from our investment broker.
Also, we made an appointment to get something notarized, but the notary never came out; we were told when we arrived that she was in the staff room taking a late lunch, and would be out in a few minutes; 20 minutes later, we were told the same thing. We left after half an hour. I suspect she was dealing with some kind of personal problem.
AND our local branch--where we have our safe deposit box-- was mysteriously closed for several months. They never sent us a notice that it would be unavailable for an extended period.
Signs on the door gave no explanation, just said they were temporarily closed, with no timeline.
Manager just shrugged when we complained.
Chase sucks, just like all other corporations.
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