Consumer complaint received 2018-01-05
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
I have accrued XXXX charges relating to insufficient funds and extended overdraft fees on my Chase Bank XXXX XXXX Account between XXXX/XXXX/XXXX and XXXX/XXXX/XXXX. 

All of the charges that resulted in my account being overdrawn were automatic debit transactions - recurring charges by subscription-based companies ( in this case, XXXX, XXXX, and XXXX ) who do not provide an alternative payment method ( such as manually pre-paying or post-paying a bill each month ). They only offer automatic payment in order to use the services - services which are required for my employment. 

I have called Chase about this in the past, and again today. I have requested that my account not approve any transactions that will overdraw my account - I would prefer to lose access to my subscription services due to non-payment, rather than have my subscription services continue uninterrupted at the cost of a {$34.00} insufficient funds fee for each overdrawn transaction. 

They told me today this is not an option. They informed me that I was told in their " disclosure agreement '' when I signed up for the account ( in XXXX ) that opting out of overdraft protection does not opt-out of protection for automatic debit transactions and recurring charges. The Chase agent informed me there is no option to opt out of protection for these transactions. 

The agent told me that this is to protect the customer, and to honor the arrangements the customer has made with the various merchants with whom they have recurring payment commitments. I suggested it should be within my authority to make that decision, and that denying me that right was a misuse of my funds, regardless of a " disclosure agreement ''. 

The agent suggested that the bank " may '' authorize these transactions in the best interest of the customer, but in my case they have made these authorizations when it is clearly in their best interest, and against my explicit wishes. 

- XXXX XXXX, XXXX : My account balance is {$15.00}. Chase first approves one transaction for {$54.00} ( XXXX ), overdrawing my account to - {$39.00}. Then approves a second transaction for {$9.00} ( XXXX ), and a third transaction for {$3.00} ( XXXX ). I am then charged one " insufficient funds fee '' for {$34.00} for the XXXX transaction and the XXXX transaction, taking my account to - {$120.00}. I restore the account to a positive balance within 24 hours, but am not refunded the fee charges. 

- XXXX XXXX, XXXX : My account balance is {$37.00}. Chase approves a transaction for {$54.00} ( XXXX ),  overdrawing my account to - {$17.00}, then charges a {$34.00} " insufficient funds fee '', overdrawing to - {$51.00} - XXXX XXXX, XXXX : Chase charges an " extended overdraft fee '' of {$15.00}, dropping balance to - {$66.00} - XXXX XXXX, XXXX : I restore account to positive balance. 

- XXXX XXXX, XXXX : My account balance is {$34.00}. Chase approves a transaction for {$54.00} ( XXXX ),  overdrawing my account to - {$19.00}, then charges a {$34.00} " insufficient funds fee '', overdrawing to - {$53.00}. 

- XXXX XXXX, XXXX : I restore account to positive balance. 

- XXXX XXXX, XXXX : My account balance is {$2.00}. Chase approves a transaction for {$9.00} ( XXXX ), overdrawing my account to - {$19.00}, then charges a {$34.00} " insufficient funds fee '', overdrawing to - {$53.00}. 

- XXXX XXXX, XXXX : My account balance remains at - {$53.00}. Chase approves a transaction for {$54.00} ( XXXX ), overdrawing my account to - {$95.00}, then charges a {$34.00} " insufficient funds fee '', overdrawing to - {$120.00}. 

- XXXX XXXX, XXXX : Chase charges an " extended overdraft fee '' of {$15.00}, dropping balance to - {$140.00}. 

- XXXX XXXX, XXXX : I restore account to positive balance. 

In this period, total fees related to account overdrafting : {$230.00}. 

In this period, total charges for which funds were not available but were nevertheless approved against my will : {$150.00} In this period, total unavailable funds used against my will : {$380.00}

Company response to consumer: Closed with monetary relief