Consumer complaint received 2017-11-30
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
On XXXX XXXX, XXXX a check that I deposited a XXXX CT based energy company that I was a former customer of in the amount of {$90.00} was returned. After much time and frustration with the company I was notified that the reason for the stop payment was because the check, while made out in my name, had a prior address on it and the company wanted to issue a new check with my updated address. Of course the company never notified me of their intention to stop payment on the check. Nonetheless, the check was returned and I had two insufficient funds fees applied to my account ( {$68.00} ) in addition to a return fee of {$12.00}. Whats most disturbing is that upon returning the check Chase debits my account in the amount of the check which automatically puts my account into a negative balance. In fairness, my account should only be debited by the return fee of {$12.00}. Due to the fact that the the check was returned for reasons beyond my control or knowledge, I felt comfortable approaching Chase and asking for an accommodation to have the fees waived. They were adamant that there was no discretion with how they enforce the insufficient fee rules once a customer has accumulated 5 of them in a 12 month span, regardless of circumstances. 

Most recently, on XXXX XXXX, XXXX I received an insufficient funds fee, even though I had received a wire transfer for {$300.00} three days prior, through Chases QuickPay with XXXX platform, specifically to provide sufficient funds. Prior to this episode had already registered my XXXX account with my email ( and received money through the service ) but Chase told me that I had to register my phone number with XXXX in addition to my email to accept this particular transfer. I called and spoke to Chase about the issue and was informed that because I did not have access to a computer I would not be able to register my phone number with XXXX at that time on the XXXX of XXXX. I was told that even if I had driven to the nearest Chase branch and asked for assistance in person I would not be assisted. I was also told that even though I had the Chase mobile app on my XXXX and XXXX that registering on either of those devices was not possible. I subsequently registered my phone number on XXXX on XXXX XXXX. The funds did not clear into my account until sometime between XXXX and XXXX on XXXX XXXX. Of course I was convinently assessed an insufficient funds fee just prior to the clearance of funds. Once again I called Chase asking for an accommodation based on the fact that my avenues to registration were limited to computer interface only. They declined. Matters are made worse when one considers how difficult and confusing it is to ascertain ones actual checking account value with so many transactions posting and pending against present and available balances. For example, as of the time of this writing, the Chase mobile app for my XXXX shows that I have a balance of {$240.00} ( that is both present and available whatever the difference is ). This reflects the {$300.00} transfer clearing into my account, yet the statement reads that that particular transfer is still pending. How can a transfer be pending if the money is already in your available AND present in your account balance. The only reason I can foresee is the create confusion which in turn provides an opportunity for Chase to profit from unsuspecting customers. 

It is for these reasons that I am lodging my complaint with the CFPB and respectfully request that you, as one of their many regulators, lobby Chase on my behalf.

Finally for what its worth, and as I see it, nine years ago when Chase was rushing to hand out NINJA loans to anyone with a pulse helping create an economic meltdown they held no reservations and wasted no time accepting a {>= $1,000,000} loan from the Fed backed by tax payer funds ( me theoretically ) to facilitate their acquisition of XXXX XXXX, in addition to {>= $1,000,000} in TARP funds, once again tax payer financed, to stabilize the system. But now they have reservations for returning the bailout favor. Thats rich. I would assume they just say Thank you and be on their way. Just return my fees when I offer legitimate reasons for asking to do so. By the way, during this entire dabacle, I was two days late paying the minimum on my Chase Freedom credit card and it was assessed a {$34.00} late fee ... that Chase also refused to waive.

Company response to consumer: Closed with monetary relief