Here’s the latest update in my fiasco with my Taylor, Bean, & Whitaker bounced escrow check. I’m not happy with Chase right now. In fact, as soon as this mess gets straightened out, I will be transferring my money to a local bank with a great reputation. A bank where people are people…not a product of rules and regulations.
Yesterday I told you I called Chase about my overdrawn account. I spoke to the regular phone rep first, who told me that each item that was overdrafted would be charged a $25 fee. I had 8 transactions.
Then I talked to the supervisor, who told me that Chase only charges for the first 6 overdrafts, each at $25, so I would be charged a total of $150, of which she would credit back $70.
I wasn’t thrilled about having to pay $80, but I also realized it wasn’t Chase’s fault. So I said thank you politely and hung up the phone.
This morning I checked my account first thing to make sure my husband’s paycheck had been deposited and we were back in the black. I knew we’d have pretty much nothing on top of his paycheck, but at least we wouldn’t owe.
Except that we did. The overdraft fee charged to my account was $204. Fortunately the $70 was credited to my account soon after, but I was still not happy about being charged $50 more than I was told.
I called Chase back this morning and asked to speak to a manager. Yes, she told me, I was correct. Chase will only charge for the first 6 overdrafts…per day (a fact that was left out yesterday). Fortunately I didn’t have any other transactions come through overnight. Unless they count the overdraft fee.
However, she said, I was told wrong about the actual fees yesterday. The fee is $25 for the first transaction and $34 for every transaction after that…up to 6. And no, they couldn’t honor what I was told yesterday. The rules are the rules. Exceptional circumstances don’t matter. But she was very sorry. And she understood. But her hands were tied.
The thing that bugs me most is that I have always been in good standing with the bank. I have bounced one check in my life. I was 20 years old, and it was a math error on my part. I paid the check and the fees and took responsibility.
In the past 18 years, I have not overdrafted my accounts once, until this week. Not even when my husband and I were living on $19,000 a year. I have a credit score of 800+. I did everything right. My problem is that I deposited an escrow check, money that I had paid legitimately to Taylor, Bean, & Whitaker. And Taylor, Bean, & Whitaker didn’t play by the rules. And Chase can see from their records that that is the case. It’s not like I’m feeding them some story to pull one over on them.
I realize that the Taylor, Bean, & Whitaker bounced check is not Chase’s problem. But as an upstanding customer, I am their problem. I don’t understand a society where rules are rules, and can never be broken, even in exceptional circumstances. We live in exceptional times. Banks are folding right and left, it seems. And innocent people, people who have played by the rules, are left holding the bag.
Counties are working with Taylor, Bean, & Whitaker customers to help them avoid property tax fees for taxes not paid by TBW.
Bank of America is working with former TBW customers to make sure their homeowners premiums are paid and no fees are incurred by innocent consumers.
But Chase will not work with a customer in good standing who did everything by the book? And they won’t even honor what a supervisor told that consumer in good standing? It’s not like I blew up on the phone and verbally abused the customer service supervisor I talked to the first time. I was polite. I asked if they could help. And I accepted their terms, even when they couldn’t waive all the fees. But then they didn’t honor the terms they gave me.
And it’s not like I was angry and yelled at the customer service manager I talked to today. I cried some out of pure frustration, but I think I managed to keep things polite, even though I’m understandably angry about this whole mess.
And yet, they can’t help me.
I’m sorry, but I’m choosing to take my business that treats people like people…and not like a customer number. Is there a bank out there that wants my business? I’m low maintenance, don’t yell at customer service reps on the phone, and my account is always in good standing, except when my mortgage company sends me a bad check for my escrow refund.
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I'm just an average mom, trying to live a frugal life and get out of debt. I write about things that have (and haven't) worked to improve my family's financial situation. What works for me may or may not work for you, and you should always consult a financial advisor before making important financial decisions.
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