Consumer complaint received 2023-08-02
Company: JPMORGAN CHASE & CO.
State: MO
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
Hi, I am a proud chase bank customer, but I am not so proud as of this past year. Reason being on multiplications theres too many today where Ive gone to pay bills and my important bills to get sent back and Chase decides to take small, petty subscriptions out of my account, which draw my account negative instead of Charging the actual bills that need to be paid and double dipping on their fraudulent and sketchy overdraft policy. Ive noticed that when I try to make a payment and I have a few dollars left over after I pay a car note the car note goes through, but then a few minutes later a XXXX subscription comes in to play. It makes my account negative instead of them taking my negative account and blocking that XXXX to subscription they put that on my account and bounce my car note. I am not able to process bills as I wish because of this XXXX double dipping on fees. Theyve done this numerous times and every time I call and ask about what is up with all these overdraft fees they say Im sorry and give it right back, but I shouldnt have to keep calling them every time and having them reversed my overdraft fees then not only that when I do call they said that they already gave me an overdraft reimbursement for the month and I dont have another one available for another month or two so Im trying to figure out how I owe money that I dont have an account to them when they are the ones that are double dipping and taking money out of my account, knowing theres no money in the account, not only this Im having another issue with my car loan and which my car I made payments and I havent been late on payments until recently when the market really went downhill and Ive noticed that when I checked how much I still owe after 6 to 7 months I still owe the bank, the same amount of money even though I made payments so Im figuring out that XXXX XXXX XXXX in XXXX XXXX Missouri is doing some shady and scamming stuff as well. I say this because every time I look at my monthly balance it has not dropped under {$31000.00}. Ive been paying majority of interest for the last 6 to 8 months and they never told me or inform me about what I want to put my payments for. I wanted to make sure I paid off the principal first so I could still sell my car and have value to it now my car has no value and Ive lost almost {$20000.00} in value on my car. My car is a XXXX XXXX XXXX XXXX XXXX. I bought the car for {$40000.00} now its also, a victim of the shady practices of the financial manager of XXXX XXXX XXXX XXXX XXXX XXXX dealership. I was taken advantage of again by the finance manager, by adding a whole bunch of stuff onto the car when I looked at the note before I shook hands with the salesman on a payment of {$36000.00} I went to the finance office and I hiked the price up to for almost {$41000.00}. I bought this car exactly 2 years ago XX/XX/XXXX. I did the math on my phone and my payments for {$590.00} a month which was very cheap on a 5.24 % interest rate. How am I still so far away and paying so much interest. I did the math. My term is 70+ months and my yearly annually payments for that car is just north of {$7300.00}. I am seeking remedy for the past year of nothing but overdraft fees that they continue to take out when I have overdraft protection, and they still charge my card. I also want to seek remedy for them, baiting me and taking advantage of me at the dealership and taking advantage of my monthly payments, putting it all towards their interest instead of the principle of my car payment where Im doubling and tripling the amount of the vehicle. You may be saying well youre paying over 70 months so its going to be majority of interest they never told me I was paying extra on top of the {$40000.00} that they put me on the loan for the loan was supposed to be the sum of all charges That means I wasnt supposed to pay more than I signed up for so my question is, where is my money going when their interest be calculated into the price of the vehicle?, it is not fair and I demand answers.

Company response to consumer: Closed with explanation