General Discussion

meaculpa2011

(918 posts)

61. Many years ago I deposited my paycheck...

Sun Nov 22, 2015, 12:19 PM

Nov 2015

which was drawn on a Chase payroll account, into my Chase checking account and then wrote a check to pay my Chase credit card.

You guessed it. They bounced the check for "uncollected funds" because I hadn't waited the requisite five business days.

That was in 1972, so the "Tricks & Traps" business model has been in force for decades and none of the accomplices in government will ever do a thing about it except bluster.

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Highlight:

Should Ally Bank Penalize Me for 6 Months over a $1.63 Mistake? [View all] bondwooley Nov 2015 OP

Sounds like you need a new bank. -none Nov 2015 #1

Not a bad idea. bondwooley Nov 2015 #3

When you pick another bank or credit union even better, yeoman6987 Nov 2015 #17

Good to know. TY. nt bondwooley Nov 2015 #27

Or find a bank/credit union with overdraft protection. I don't know if that would Nay Nov 2015 #50

Credit union is my vote, if possible. Erich Bloodaxe BSN Nov 2015 #53

I'll start. No doubt that most here agree with you, edgineered Nov 2015 #2

Based on your comment and bondwooley Nov 2015 #5

When you can finally close the account edgineered Nov 2015 #7

Haha! That's the first I've heard that expression! spooky3 Nov 2015 #10

'Tis the season! edgineered Nov 2015 #13

Well put. nt fayhunter Nov 2015 #45

Ha! bondwooley Nov 2015 #12

In banking and with prescriptions, I find it's better to deal with a human face. No Vested Interest Nov 2015 #34

Technology is fantastic fayhunter Nov 2015 #46

First, the penalty is by algorithm. Igel Nov 2015 #59

Incredibly wrong. SusanCalvin Nov 2015 #4

Credit union bondwooley Nov 2015 #9

Yes, eligibility depends on the credit union but nilram Nov 2015 #30

Good point. scrubthedata Nov 2015 #51

They should change their name to Frienemy Bank. Hassin Bin Sober Nov 2015 #6

If they did, bondwooley Nov 2015 #14

All most all of them should. nt fayhunter Nov 2015 #47

It's a heavily regulated industry for a reason. spooky3 Nov 2015 #8

Oh, wow, that's... bondwooley Nov 2015 #11

Yeah, I don't want to take that risk--but it's a large spooky3 Nov 2015 #32

What a scam. JonLeibowitz Nov 2015 #24

That's exactly what I thought. spooky3 Nov 2015 #31

We moved our checking account because Snobblevitch Nov 2015 #15

I guess computers bondwooley Nov 2015 #18

Banking laws were passed making these kinds of overdraft charges illegal. Snobblevitch Nov 2015 #74

I have a credit union, and my funds are available immediately. Fuddnik Nov 2015 #16

It's not that I'm happy to hear that bondwooley Nov 2015 #21

Dear Bondwooley, PatrickforO Nov 2015 #19

Any recommendations? bondwooley Nov 2015 #22

Well, I did a quick Google search and found these three: PatrickforO Nov 2015 #25

I really appreciate bondwooley Nov 2015 #26

TD bank rjsquirrel Nov 2015 #35

Credit unions are not banks, although they provide similar services. Gormy Cuss Nov 2015 #38

They serve the same functions rjsquirrel Nov 2015 #62

On a cost/benefit basis credit unions are almost always better for small depositors. Gormy Cuss Nov 2015 #66

I agree. I have been with them for about 15 years and have NEVER had a problem smirkymonkey Nov 2015 #64

Resistance is futile. You have been assimilated. n/t Binkie The Clown Nov 2015 #20

As much as I know you are right bondwooley Nov 2015 #23

No. JonathanRackham Nov 2015 #28

With these calls, push 0 everytime you hear a non-human. edgineered Nov 2015 #37

In my office that's called phone mail jail. JonathanRackham Nov 2015 #39

I had an Ally account and it sucked scrubthedata Nov 2015 #29

Ally is an evil company owned by GMAC CountAllVotes Nov 2015 #56

Point taken bondwooley Nov 2015 #69

My credit union zalinda Nov 2015 #33

What is the motivation for a bank to do that? forsaken mortal Nov 2015 #36

The longer scrubthedata Nov 2015 #52

Credit union. hobbit709 Nov 2015 #40

You're getting screwed, but... Orrex Nov 2015 #41

it is time to leave dembotoz Nov 2015 #42

Takes guts fayhunter Nov 2015 #48

This is one of many very good reasons to bank locally. Vinca Nov 2015 #43

I'm sorry to hear that. panader0 Nov 2015 #44

I was sorry too bondwooley Nov 2015 #49

Barclay's Bank has an online savings account CountAllVotes Nov 2015 #55

GMAC Bank has become Ally Bank CountAllVotes Nov 2015 #54

GM? scrubthedata Nov 2015 #60

Sorry for any confusion CountAllVotes Nov 2015 #73

Isn't ryan_cats Nov 2015 #57

Ally bank is one of the worst, in my experience Holly_Hobby Nov 2015 #58

Did you also have scrubthedata Nov 2015 #63

Just auto - Holly_Hobby Nov 2015 #65

Sounds like a horror story. scrubthedata Nov 2015 #70

Many years ago I deposited my paycheck... meaculpa2011 Nov 2015 #61

same thing happened to my kid dembotoz Nov 2015 #67

Yeah, good old Chase fayhunter Nov 2015 #68

If you're a high income customer Facility Inspector Nov 2015 #71

Hoping that fayhunter Nov 2015 #72