Charlie Schlafke Review of JPMorgan Chase
I was told Chase was best for small business accou...
I was told Chase was best for small business accounts. They do some stuff well and what they don't do well is unbelievably bad. Here are my two attempts at fixing problems.
1- Me - "Hi. Can you raise my mobile banking limit from $2,000? I'm a contractor and most checks I get are for much more."
Rep - "No. The system sets those limits and we can't change it."
Me - "My credit union with two branches allows me to mobile deposit up to $25,000. Chase is a trillion dollar behemoth and my "business account" limits me to $2,000?
Rep - "Different institutions have different amounts"
Me - "You are my business account."
Rep - "Sorry, the system controls us. We are powerless against the system."
Me - "Who wrote the system? How do we talk with whoever runs the system?"
Rep - "I don't know."
2 - Me - "Hi. Your merchant services has been holding the money I charged a client for 5 days now. What's up?"
Rep - "The system flagged this as suspicious."
Me - "I have one client that makes me use a credit card and as my history shows, I regularly have large charges from them."
Rep - "The system says this is suspicious."
Me - "Can I talk to somebody about flagging my account to not flag these charges as suspicious since I do this all the time. Just a month ago you did the same thing and I jumped through all you hoops so you could see the charges are legitimate."
Rep - "No. The system controls us all and we can't change it."
Me - "Is there any way to talk to the person responsible for the system?"
Rep - "No."
Me - "So some system controls Chase bank and nobody at Chase bank has any control over how the system works?"
Rep - "I don't know. My script says I'm supposed to ask you if there is anything else I can help you with. Is there any thing else I can help you with?"
Me - "Yes, you can tell me who to talk to about your system."
Rep - "There is no-one."
Me - "Will Chase be paying me interest on the money of mine they are holding for 5-7 days?"
Rep - "We don't do that."
Me - "Why not?"
Rep - "Have a nice day."
So it seems that Chase bank has been taken over by a system that nobody at Chase bank knows how to control or even where it came from. Interesting and terrifying.
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