Chase Bank
Important Information awful banking institution

Well captnsteve, both the bank and the recipient of the check wouldn't charge you. If the bank charges you it's because they paid the casher of the check, and if the person who cashes the check charges you, it's because the bank didn't pay them. It doesn't work both ways on one transaction.

Chase is an awful banking institution. JP Morgan would be rolling over in his grave if he knew that his infamous and well-respected brokerage and investment bank merged with such a terrible customer-ignorant bureaucracy. Chase has the worst interest rates for deposits, highest interest rates on debt, a completely uncompetitive fee structure, and still many people bank with Chase and continue to pay burdensome fees either out of ignorance or unwillingness to switch.

Ever notice how accounts are free with direct deposit, and also that they are always pushing billpay... Because those features marry you to your chase account and make it less desirable to switch, allowing the bank to get away with exorbitant fees relative to the competition.

Chase bank's competitive advantage is its willingness to charge high rates and spend that money on advertising.in Chase bank spent $1,900, 000,000 just on marketing. That's 1.9 Billion dollars... How can you say they aren't wasting customers' money? Here's the source for that figure, Chase's audited 2005 10-K form submitted to the securities and exchange commission:://www.sec. Gov/Archives/edgar/data/19617/000095012306009854/y23756e10vkza.htm

Curious about "compensation expense"? Try $18,255, 000,000, yes 18 billion dollars. That is for 174,360 full-time employees (reference: http://finance. Yahoo.com/q/pr? S=JPM). Considering that ninety percent of them make an average of $50,000 per year (my estimate) that's only $7.8 billion, meaning roughly the top 10 percent of the company is averaging $600,000 per year in compensation. Chief executive Jamie Dimon pocketed $9.4 million in salary last year (none of it performance-based, all guaranteed salary) (reference: http://finance. Yahoo.com/q/pr? S=JPM).in fact, just the top four executives took home over $36 million of our money just last year!

There is no way I can support an extravagant non-performance based compensation package for company officers and lavish $2 billion marketing campaigns. That fact alone should serve to demonstrate that the company is more interested in advertising and extortion than respecting the competition in the banking industry following the Gramm-Leach-Bliley Act of 1999 which deregulated the banking industry.

Try for a smaller bank instead who won't rip you off so they can convince other people to do the same via catchy commercials with Rolling Stones songs. Sovereign bank, Compass bank, and PayPal are all competitive banks, some pay up to 5% interest IN YOUR CHECKING ACCOUNT! That's unheard of! I also know that Compass bank will refund other banks' ATM fees to you, so you'll never pay for using an ATM no matter who owns it. Chase charges $1.50 in addition to the ATM fee for using a non-Chase ATM.

On a final note, have you noticed how in all of Chase's $2 billion worth of commercials, they never seem to advertise anything like competitive rates, low fees, nothing of the sort.instead their advertisements focus on letting you choose cash-back or rewards points on your credit card... Should that really be the reason that you choose a bank? They simply advertise inconsequential details so that they don't have to price compete with Bank of America and Washington Mutual (also rotten banks by the way) and can keep rates sky high.

The bank is earning money just by holding the money in your checking and savings accounts (that pathetic 0.5% interest rate they give you on savings accounts is an insult). The bank is earning a spread on holding your money essentially for free and loaning it out at prime 5% or whatever the rate on revolving debt may be. Don't let them make you pay $5-$30 for every little thing.

Company: Chase Bank
Country: USA
State: New York
City: New York
Address: 270 Park Avenue
Phone: 2122706000

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