Consumer complaint received 2018-03-11
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
Dear Sir or Madam : Due to a mistake of linking a checking vs. the savings account, for a bank ( Chase ) to bank ( XXXX XXXX ) transfer, I was unaware that it was pulling incorrectly since the transactions went through without an error multiple times. I was new to chase and unaware that they dont send paper notices ( nor emails ) for reoccurring fees. 
I open the account in XX/XX/XXXX with $ XXXX. Soon after, I had to address medical issues including XXXX and recovery complications from XXXX that rendered me temporarily XXXX. 

When I open the account, I dont even recall signing for online statements or overdraft protection. It was never explained and likely signed because the bank representative pointed to sign there when I open the account. Unlike other banks, Chase bank doesnt send physical letters or email notices of monthly reoccurring fees to a person account. Being new to chase, I wasnt aware chase process was very different from six other banks. 

Had an email stated a fee or a letter been sent by Chase on the first occurrence, I would have the opportunity to fix it with the 1st overdraft $ XXXX $ XXXX {$35.00} instead of {$580.00} of exuberant bank fees accruing without my knowledge. Overdraft protection allowed Chase bank to deplete my account with a monthly fee without my knowledge. 

My account would still continue to deplete had I not got a call from Chase marketer who accidentally informed ( XX/XX/XXXX ) me I was accruing fees. The next day I schedule an appointment to meet in person and brought doctors letter to prove that I was under medical care. Instead of closing the account, I was told to keep the account open so that it can be refunded and put in an additional $ XXXX to stop the fees. Yet, I still got hit with another {$25.00} that only allowed {$2.00} to be reversed even if I notify them in 10 days of finding it. 

Regardless of a persons circumstances including medical reason/accidental transfer mistakes, chase bank places unwritten arbitrary restrictions to limit reversal of fees. {$580.00} was charged but after talking to three different people at chase including an escalation person, the most chase bank refunded was {$200.00} ( 34 % ) out of {$580.00} ( 65 % ) in charges for $ XXXX original deposit that I barely touched. With the reversal chase still charged {$370.00} fees for an honest mistake. Had the ( bank to bank ) withdrawals ( linking ) mistake not occurred the withdrawals would be above the $ XXXX minimal. It was the fees/linking by over draft that drove it below the minimal. 

If banks are pushing online statements and overdraft protection, their process should include at minimal email notices of fees ( or paper notice ) hitting a persons account so the customer has a fair advantage to address it the first time. I believe just stating a statement is ready is INSUFFICIENT Notice. Its not like I dont have sufficient funds, Im getting charged because it hit the wrong account type. Most banks either sends a paper notice or an email and often reverse the fees without issue even if its found later. 

I feel I put a large amount into a bank that I barely touched and got robbed by Chase bank with these exuberant fees. I made an honest mistake, but chase fee structure and restrictive reversal process and lack of notification resulted in EXUBERANT fees to be accessed. Their system exploits vulnerability and fine prints to profit from honest mistakes.

Company response to consumer: Closed with monetary relief