$5 ATM fee at Chase

**Russ** · 03-29-2011, 09:48 AM

They are trying it out in Illinois.

New $5 ATM fee just the latest checking trap - The Red Tape Chronicles - msnbc.com

**Sophiasmama** · 03-29-2011, 10:14 AM

We don't have this bank in Canada(that I know of)...but sure have read alot about it...and not nice things. That seems high...I think the ABM highest here is 2 bucks. Thank goodness it's free w/d from ones own bank. That being said our fees are 31.95/mo.

**cmoy** · 03-29-2011, 10:31 AM

Good morning...

I'm in Canada (Ontario) and do my banking with Scotiabank.

My fees are $14.95/month.

I will not pay another ATM $3.00 for my money. I believe that in a lot of cases, this is pure laziness on the part of the consumer.

I have had over-draft protection for many years, although I never use it. It is free, unless used. The cost for an over-drawn cheque would be $5.00.

Although some banks and credit unions are still "free", I think that when they see Chase's numbers at the end of this $5.00 "trial" period, they will reconsider how easy it is to make $$$$$ from lazy consumers.

carol

**savvy_sniper** · 03-29-2011, 10:50 AM

I am almost done with Chase. I had three accounts there and I am down to one.

They instituted new account rules and I was going to have to pay a $15 a month service charge for EACH account unless I met certain criteria. I could only meet that criteria for one account.

Also there is always a line inside and at the drive thru. The things I overheard as I waited were terrible. Example - little old man asked them to make a copy of a check for him and they told him they could no longer do it without charging him an exorbitant fee.

MOST of us were customers they inherited when they took over WAMU. The day I was in there closing 2 of my 3 accounts so were about 10 other people.

As soon as I get my credit union savings account ($5) linked to my PayPal account, I am done with them. They are a bunch of lying, greedy @$%^&*(s! The guy at my credit union said the same thing when he asked who my old bank was.

A service rep was supposedly doing everything she possibly could do to "save" my accounts, but couldn't bother to call me back. When I walked in two weeks later (to close 2 accounts to avoid service charges) and called her on it; she said they were waiting for the finalization of the new rules before they got back with me. Of course, that was going to cost me $45 (3 service charges).

I will never step foot in a Chase bank again EXCEPT to close my last account in a week or so.

**imagine** · 03-29-2011, 10:58 AM

Sadly, I think there will be more of this to come not just from Chase but from other banks (credit unions too) They has to figure out a new way to cover their costs since they won't/don't have the income from merchant fees.

They are just like any other company or family for that matter, you have to rearrange your budget and possibly look for additional income when you lose some income.

**Russ** · 03-29-2011, 11:05 AM

Originally Posted by imagine

They has to figure out a new way to cover their costs since they won't/don't have the income from merchant fees.

.

Lets not forget the billions they are losing in overdraft fees.

**OOwl** · 03-29-2011, 11:08 AM

I divorced Chase in January, closed every account I had with them. I never courted a relationship with this bank; they bought my mortgage, LOC, and credit card from WAMU. From day one, I hated the way they conducted business, the raw impersonal way they represented themselves in written correspondence and on the telephone. It was my motivation for getting out of debt with them. I realize other megabanks are probably going to start charging for ATM fees and use of debit cards. That's fine. I'll go into the bank and get my weekly expenditures in cash and just live with the envelope system I learned to use on the DR program. I'm lucky that I have a simple life and few bills (now) so I can easily convert my life to cash only. I really feel badly for those that are forced to use credit and debit cards for travel and business expenditures. It will be interesting to see what creative methods people will be using in the future to avoid these charges.

**Dancing Lotus** · 03-29-2011, 11:26 AM

Did you all miss this part Chase bank is now test-piloting $5-per-withdrawal fees for non-customers in Illinois.

It's a fee for non customers. They are not charging their customers to withdraw cash from their own banks atm.
I am a chase customer and they way I see it, this doesn't affect me.

**savvy_sniper** · 03-29-2011, 11:28 AM

When ATMS first came out they were free for everyone to use! Once they got people hooked the fees started. I believe ATM fees for customers are coming.

**imagine** · 03-29-2011, 11:51 AM

Originally Posted by Russ

Lets not forget the billions they are losing in overdraft fees.

Yep, the are certainly looking at their budgets seeing what services they can provide. Figuring out how to still provide and still stay in business.

Sadly, I think banking as we knew it with free checking and almost no fees will be gone soon anywhere you want to bank.

I also see minimums becoming a requirement to have checking accounts.

Banking will go back to the way it use to be.

**dcompton** · 03-29-2011, 11:52 AM

I must be the only person on the planet who likes Chase - I have had excellent service from them. My accounts are all free, I have taken them up on enough "incentive offers" (open a money market for 6 months, get $75 sort orf thing) that I have made several hundred dollars from them.

At one point I was thinking of switching to my work credit union, and Chase waived direct deposit rules for three months so I could try it out without closing my Chase accounts. I found it was so inconvenient and some of the account rules so irksome and their bill pay so cumbersome that I closed those accounts and stayed with Chase.

Believe me, I am not a big high rolling depositer, but as small as my accounts are they have always made me feel like they value my business. Maybe I just have good bank karma!

**imagine** · 03-29-2011, 11:58 AM

Originally Posted by savvy_sniper

When ATMS first came out they were free for everyone to use! Once they got people hooked the fees started. I believe ATM fees for customers are coming.

When ATM first came out where I live about 22 to 25 years ago. There was a fee for every time you withdrew or checked your balance. Then ATM became more popular and it became free if you had a certain account that had a fee and you were allowed so many like five a month free . Then it moved to free unless you were at another kind of ATM.

It think we are thinking of fairly recent time with free this and free that.

Does anyone remember when there was a fee to use a live teller at the bank instead of the ATM? or limits on how many times you could visit a teller without a fee?
I remember these. Does anyone else?

**Nishu** · 03-29-2011, 12:10 PM

Originally Posted by AnnK

Did you all miss this part Chase bank is now test-piloting $5-per-withdrawal fees for non-customers in Illinois.

It's a fee for non customers. They are not charging their customers to withdraw cash from their own banks atm.
I am a chase customer and they way I see it, this doesn't affect me.

We're busy people, Ann. We can't be troubled with your so-called "facts."

**gmarie** · 03-29-2011, 12:17 PM

I happen to LOVE chase bank. I have been banking with them since Jan 10 when we moved and no longer had easy access to my CU, and have never had a problem!

I got a few hundred for signing up, and w/ direct deposit, have never had any fees. I absolutely LOVE their ATM's - I look forward to depositing money b/c their atms are so cool - and after a test period, I feel 100% comfortable depositing checks and cash into them. (i think BOA now has similar atms). The only time I need a teller is if I'm depositing loose change.

My branch prints me free checks when I need them.

I do pay a small annual fee for my rewards debit card, and I get cash back every few months, and since I no longer use credit, I enjoy knowing that someone is paying me back a small % of the fees they are collecting from merchants.

I LOVE their free person-to-person bill pay. I use it to transfer money to my CU for our loan payments, and no other banks I have used have this option. In fact, my CU uses this monthly transfer as my required direct deposit to qualify for their free checking. We only have one available direct deposit so this has solved what could have been a huge problem.

I have no idea why so many people have issues with Chase!

**imagine** · 03-29-2011, 12:19 PM

Originally Posted by AnnK

Did you all miss this part Chase bank is now test-piloting $5-per-withdrawal fees for non-customers in Illinois.

It's a fee for non customers. They are not charging their customers to withdraw cash from their own banks atm.
I am a chase customer and they way I see it, this doesn't affect me.

I saw that it was for no customers and it is up from $3 to $5. I also saw that it was an experiment in a limited area.

The article continues and gives other ideas on fees and such in general. I believe that is what some of us are discussing.