Okay, so my roommate just got a bank account. He's retarded and has had bad credit and finally fixed things financially. So this is what happened.

He opened an account online with Chase Bank a few days ago. Put a bunch of money in savings, and some in checking. He got his card and it wouldn't work. Today he went to the bank and they (he spoke to like 5 ppl) told him that Chase closed his account "b/c they can if they want to" and that he'll get his money mailed to him in 5-7 business days.

WTF is that shit? Not to mention he put most of his money from his last paycheck to the bank, and doesn't get paid again till the 31st. So he's got like $30 to last him till then, in nyc.

What in the hell?!?!

[Edited on May 24, 2007 at 1:40 PM. Reason : dammit, REALLY, not Reall]

5/24/2007 1:40:23 PM

that's beat up. unfair. unethical. but they can probably do it by technicalities.

5/24/2007 1:42:28 PM

sounds fishy......

5/24/2007 1:45:05 PM

tell him to burn the bank to the ground and write a note that says you can have your jobs back in 1-2 years

5/24/2007 1:47:29 PM

how did he get his money into the Chase acct? Wire transfer from old bank?

5/24/2007 1:54:53 PM

Yes

5/24/2007 1:55:24 PM

your boy is fucked, and I bet they lose the check in the mail

5/24/2007 1:57:30 PM

i bet he closed his old bank acct. too so they can't wire the money back. that sucksssssss....

5/24/2007 1:58:10 PM

thats what happens when you give your money to jews.

5/24/2007 2:08:19 PM

the big banks i.e. chase, citibank, bank of america is a lot of what is wrong with this country.

5/24/2007 2:12:58 PM

Wow, that sounds horrible. I'm not sure how, but I bet it's legal for them to do. Only reaffirms the fact that everythng I've ever heard about Chase screams STAY AWAY!!

5/24/2007 2:13:37 PM

What probably happened is that they ran a credit check, flagged his account as high risk, and decided it wasn't a good business decision to hold his account, so they closed his account and they will mail him a certified check with his money. When you know you have bad credit, you need to talk to the people you're opening an account with and make sure all parties know what's going on so things like this won't happen. This is a case where small local banks can be much better than your multi-national banks.

[Edited on May 24, 2007 at 2:15 PM. Reason : can't type]

5/24/2007 2:14:56 PM

looks like you shouldnt base what bank you use on a commercial about a debit card saving people from angry vikings

5/24/2007 2:17:07 PM

^^Seems like they could have done the check before they opened the account, but hey.

5/24/2007 2:19:27 PM

I don't understand why someone with bad credit would be a risk for a deposit account? Why not simply decline overdraft protection?

5/24/2007 2:23:37 PM

Chase did that to us because they checked our credit AFTER WE HAD THE ACCOUNT FOR OVER A YEAR and decided our Debt:income was too high, that we had too much other debt (house, two cars, one of which is financed with them oddly enough) and closed our account. Nevermind the fact that we've never made a late payment EVER to anyone, and our credit is perfect.

Yeah, your boy's fucked.

Make sure he doesn't use Capital One - I've heard that whether your credit line with them is in good or bad standing, it always comes back bad on the credit report.

5/24/2007 2:24:31 PM

why did he open it online? I would have went in and physically talked to someone first before opening one. That way I would know who to beat the fuck up if all this shit like this happened.

5/24/2007 2:27:47 PM

wheres salisburyboy...i'm sure he'd have something to say about this. its part of some huge conspiracy with the jews and iran.

5/24/2007 2:39:12 PM

^^^ Damnit, I use Capital One!

[Edited on May 24, 2007 at 2:42 PM. Reason : ^]

5/24/2007 2:42:21 PM

Thats pretty horrible.

5/24/2007 3:02:16 PM

Quote :

"Make sure he doesn't use Capital One - I've heard that whether your credit line with them is in good or bad standing, it always comes back bad on the credit report."

they don't report your credit limit, they just use your current balance as your limit so you are always maxed out, which is very gay

5/24/2007 3:15:12 PM

Chase can fucking suck it. worthless sacks of shit.

5/24/2007 3:17:02 PM

this is why i pay my bills on time

5/24/2007 3:26:24 PM

^^^ no, they use the highest balance you've ever had on the account as the credit limit. So if your balance gets larger every month, then yes it shows you maxing it out every month.

5/24/2007 3:36:48 PM

well it's still gay

5/24/2007 3:39:31 PM

Quote :

"Chase did that to us because they checked our credit AFTER WE HAD THE ACCOUNT FOR OVER A YEAR"

What a crappy company. Nevermind that any checks you have written will be declined. I'd be pissed.

How hard is it for them to pick up the phone and call someone to discuss closing their account? At least that way you could prepare for it.

5/24/2007 3:48:52 PM

God I love having access to a credit union.

5/24/2007 4:50:08 PM

Quote :

"Chase can fucking suck it. worthless sacks of shit."

5/24/2007 8:31:01 PM

Hey, its his fault for having bad credit. Dude should have paid his shit on time. Who cares if he doesn't get his money right now, I am sure the people he paid late or didn't pay at all, and in turn got bad credit, could care less that your boy is going to have to wait to get his money mailed to him, atleast he is getting it.

5/24/2007 8:34:31 PM

new creditors aren't allowed to "punish" you for bad stuff in the past once you open an account, although they are allowed to deny credit at the outset

the point is that Chase really does suck - they pulled some shit on my husband and me, and we have perfect credit.

5/24/2007 8:53:32 PM

why does credit matter for a savings account. you deposit money, get interest, and withdrawl. It is not like the bank is giving him a loan.

Chase are fucking ass pirates. They opened two credit cards under my name that I never actually applied or even activated. Did not even know they existed till i did a credit check. Sure enough I actually read one of those shit SPAM mails i get in my mailbox and it was for not my 1st chase card but ANOTHER chase card.

5/24/2007 9:16:21 PM

That's awful.

Makes me glad to have a local BB&T agent that I can call, email, or visit anytime -- and they actually thank me for my meager business.

5/25/2007 12:19:12 AM

an article i found on MSN money..thought it mite be interesting..and relate to the situation much better...

http://articles.moneycentral.msn.com/Banking/BetterBanking/WhenBanksTurnEvil.aspx?page=2


btw..usually a bank does not check ur so called "credit scores" matter of fact..i've worked for 4 yrs @ a bank..and we've never done that...(the account i'm talking about is a checking/savings/MoneyMarket/CD/IRA deposit account NOT a loan; loans require credit check and other debt-to-income ratio)

its usually an error...

Let's say you overdrew accounts elsewhere @ some other bank (mite have been years ago; but it still was on record and you completely forgot abt it)....a bank will go thru "checksystems" which checks/verifies to see what kinda banking record you've had in the past WHILE INITIALLY OPENING THE ACCOUNT....IF the "checksystems doesn't approve"...to be honest..all we're supposed to do is hand you a paper which has a contact info for checksystems and you personally have to figure out what and where ur credit history NOT CREDIT SCORE went wrong...a banker is will just inform you that at the moment we cannot open your account. PERIOD.

a banker cannot open the account (unless an override is given by a manager); once you've opened the account..I'm pretty sure they should not close your account.

P.S. Its just some error...something which culd be solved w/out yelling @ the customer service rep.

hope this helps..

5/25/2007 12:48:18 AM

also an advice..PLEASE..whenever you open a bank account or get a credit card..read the FINE PRINT..esp the FEE SCHEDULE that banks SHOULD ALWAYS give you when you open an account...

thanks..

5/25/2007 12:52:31 AM

Quote :

"why did he open it online? I would have went in and physically talked to someone first before opening one. That way I would know who to beat the fuck up if all this shit like this happened."

[Edited on May 25, 2007 at 12:53 AM. Reason : m]

5/25/2007 12:53:30 AM

^^^ an ERROR is something to yell at someone about. Especially since he doesn't have any of his money and is just hanging out in NYC for 10 days before his next paycheck.

[Edited on May 25, 2007 at 12:55 AM. Reason : .]

5/25/2007 12:54:27 AM

Well since he has no money to go out and spend for two weeks he should call the bank repeatedly to remind them how much assholes they are.

5/25/2007 12:55:13 AM

agreed it would be one thing if they were like sorry we can't open this account for you, but to open it then close it on him and keep his money for 7 business days is fucking terrible.

If i were him a ton of people would be getting fucking yelled at on the phone, and at one of there branches.

5/25/2007 12:58:24 AM

Well try this for once..if something really pisses you off..a bank or credit card personel - dont yell just say look i'm stuck at this place..i'm having the worst day of my life..i know i appreciate your work and blah blah..but i'm stuck..and you've gotta help me ....honest to god..the other person will work something out for you...

but on the other hand...if you make someone else's day bad...(even though its not his/her fault..i mean come on..why is the person who is answering your phone responsible for this mishap... ) i bet that other person, even though they have the power to help you..wont help you...cuz you've just ruined their perfect day...

try being nice for once..it works out a whole lot much better and faster....

5/25/2007 1:05:05 AM

Something tells me him being nice isnt going to get him his grand or two any quicker, especially at CHASE they could give two shits about him.

[Edited on May 25, 2007 at 1:25 AM. Reason : .]

5/25/2007 1:24:39 AM

orrrrrrr develop rapport with someone that works in a bank (pref. someone with some pull), and don't just go to them when you need stuff done

I don't want to leave my bank because the guy who handles all my whatnots is such an awesome person

5/25/2007 1:25:30 AM

Quote :

"I don't want to leave my bank because the guy who handles all my whatnots is such an awesome person "

That sounds kind of dirty.

5/25/2007 2:53:38 AM

i can't understand how some people are saying this is unfair, unethical, maybe illegal, etc.

how the heck can one think like that?

it is a private entity, and then can choose who opens an account, and who doesn't. what's illegal about that? they don't need technicalities to justify their actions -- their actions are fully legal.

sure, it sucks, but it is amazing that people are calling it illegal.

he should try going to the bank to ask for his money, instead of waiting for it for a week. he can simply tell the bank he has no money, and he needs it. if they don't give it to him, then they are asses.

and also, what i CAN fault the bank for, is not checking the credit of potential customers before allowing them to open an account, and then closing it within days. why can't they check before?

5/25/2007 6:30:42 AM

read the article from MSN MONEY.....it says what to do....


how abt emailing / calling BBB ????

5/25/2007 8:40:33 AM

Quote :

"it is a private entity, and then can choose who opens an account, and who doesn't. what's illegal about that? they don't need technicalities to justify their actions -- their actions are fully legal."

i guess since they are a private entity then it would be ok if they closed the bank account and just kept your money for themselves. After all they are private and you did give them money so it is legal if they decide to not give it back .

5/25/2007 11:29:50 AM

you need to learn to read:

Quote :

"he'll get his money mailed to him in 5-7 business days"

and also, because that's what i said, right, that they can keep the money?

Quote :

"it is a private entity, and they can choose who opens an account, and who doesn't."

[Edited on May 25, 2007 at 11:50 AM. Reason : HOW THE FUCK DID YOU LEAVE ELEMENTARY SCHOOL??? ]

5/25/2007 11:47:34 AM

mn,n

[Edited on May 25, 2007 at 12:04 PM. Reason : ]

5/25/2007 12:04:42 PM

Quote :

""it is a private entity, and they can choose who opens an account, and who doesn't.""

They sure can. But allowing someone to open an account and transfer money in is irresponsible and bad business.

Now, imagine if this was not a person, but a small company. They are just starting up. They create an account with a bank in the area, then transfer all of their money in for quicker access. Then, the bank closes the account and says they have to wait a week to get a check. The small company would be in deep trouble, just like this guy is in deep trouble.

Regardless of legality, the bank is clearly wrong.

5/25/2007 12:19:28 PM

Regardless of legality, the bank is clearly wrong.

5/25/2007 12:24:59 PM

same thing happened to me with chase. i actually got them to reopen my account, but it took a lot of phone calls to people pretty high up. it does suck.

5/25/2007 12:33:15 PM