I am a small business owner/operator, "apache trail survey co.', exceedingly damaged by the real estate turndown the last 2.5 years. I have had a business account with chase bank about 2 years, in which time they have certainly taken advantage of my inability to maintain a buffer balance due to my receivables coming in late (or not at all).
I tried maintaining a credit overdraft protection, but soon found that maxing out also. Then, they had me where they wanted me! I am often hit with o.D. And i.F. Fees of 2-3 hundred dollars! I have talked with several officers in the bank, and they say, well put your home equity loan in for credit protection. Yes, sure—then they can take that too.
I find that what they are doing is not illegal, but it is very unfair (i thought they were supposed to try to help small business under the bank bailout plan!) when i have several checks or atm charges in about the same time period, they take the bigger ones first, so that all the little 2 & 3 dollar charges rack up hundreds of dollars in fees (at $35 a pop)!
Is that helping the little business guy? It's more like killing him! I am closing out my account, hoping to find a bank with more benevolent practices (do they really exist?).
I am paying the bank more of a salary than myself! I have gone in and complained and asked for help several times, and get the polite, "we'll see what we can do" routine. One time, they even forgave $125 (out of about 600 in fees).
If there are other "down and outers" out there feeling this almost criminal "ouch, " i would like to know what we, as a group can do to make things better.
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