My New Chase Account

[Maury]

Hello!!

 

So I've banked with TD for the last three years and everything is ok except for the lack of ATMs in NY.. About 6 years ago I was reported to chex systems by WAMU and was never able to get a account at one of the big named banks like chase or BofA.. I recently filed for Bankruptcy and was able to get removed from Chexsystems.... I also went to Chase a couple days ago and apply for account and was able to get a regular account (years past I was offered the Access Checking).......... A couple weeks ago a requested a EWS report and I'm on there by JP Morgan Chase who took over WAMU... I explained this to the Banker when I was opening the account and explained my fear of the account being closed with all my money in there and she assured me that any issues would have came up at the application and not down the road... She didn't seem very smart....

 

Should I trust this account?

[mca]

Hello!!

 

So I've banked with TD for the last three years and everything is ok except for the lack of ATMs in NY.. About 6 years ago I was reported to chex systems by WAMU and was never able to get a account at one of the big named banks like chase or BofA.. I recently filed for Bankruptcy and was able to get removed from Chexsystems.... I also went to Chase a couple days ago and apply for account and was able to get a regular account (years past I was offered the Access Checking).......... A couple weeks ago a requested a EWS report and I'm on there by JP Morgan Chase who took over WAMU... I explained this to the Banker when I was opening the account and explained my fear of the account being closed with all my money in there and she assured me that any issues would have came up at the application and not down the road... She didn't seem very smart....

 

Should I trust this account?

I would trust it yes but maybe have a back up account and not have all of your money in one place to be safe. I know that EWS will not remove you like chexsystems has with the bankruptcy but they should still have the report showing that NO money is owed. How old is your report with EWS?

[Maury]

Contribution date was 4/11/06 By Jp morgan chase... what I'm wondering is at that time the Bank had not been taken over by chase yet.. It was still WAMU (Washington Mutual). Could it be that when chase took over they back dated the contribution date or that WAMU also used EWS and contributed and the name was just changed after the merger.

 

PS I haven't done sent any BK related yet to EWS.

[wingy03]

I will say this about chase, they aren't as evil as some other banks (I've seen of others, and have heard but luckily never personally have known)

 

I do know someone that recently opened a chase account, left about twenty grand in there just sitting and collecting interest; never withdrew. and one day he asks me if this letter he received is fraud. it is from a collection agency collecting on behalf of chase?!

 

well, that was for a checking account he had at wamu it turns out, that closed negative, and now they're willing to settle for half that if mailed within 45days, but never took that amount (less then 1 grand easily) directly from his account

 

so you don't have to worry about that I would say, based on what I've seen with chase practice but,

 

this is a new practice (they also do not close accounts in negative due to fees..overdrawn is different but if you had twenty seven dollars and they kept charging you ten dollar monthly maintance fee they will only charge seven dollars on the third month--leave it at zero and close out after 90 days of inactivity I believe, or 60?)

 

and that wamu still being on your record..I think you should find out why if you don't already know and find a way to get it off.

[yolmar12]

Ive been in Chexsystems for some time and applied to Chase and was given the limited account at first, but after 6 months I was given the opportunity to choose a regular account. Its a good feeling and now Im 2 years with Chase.

Edited October 19, 2012 by yolmar12

[goifns99]

this is how it works at Chase. They approved you for the account but legally they can still collect on a balance owed from Wamu. It is in your account disclosures statement. Just be forwarned that the right of offset can be used at anytime. Watch your account, with in the next few weeks you will probably see an internal withdrawl that is collecting on the money owed to wamu.

[Gronnie]

OP filed BKR, they can't do an offset.

[wandjust]

I recently applied for a Chase account online, I funded it with my other checking account. They withdrew the money from my other account, sent me a debit card, then right after sent me a letter they were closing my account because of Early Warning Systems? It took over a month to get my money back from them that was my initial deposit. I guess I have to get a report from EWS, I can't imagine why there would be anything on there.

[mca]

I recently applied for a Chase account online, I funded it with my other checking account. They withdrew the money from my other account, sent me a debit card, then right after sent me a letter they were closing my account because of Early Warning Systems? It took over a month to get my money back from them that was my initial deposit. I guess I have to get a report from EWS, I can't imagine why there would be anything on there.

Many people reported to chexsystems are also reported to EWS. It is common