Comments on: Chase Bank Doesn’t Honor It’s Own Customers Checks… http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/ Anarchy Happens... Fri, 30 Oct 2009 22:23:54 +0000 http://wordpress.com/ hourly 1 By: Tom H http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7297 Tom H Fri, 30 Oct 2009 22:23:54 +0000 http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7297 I am retired in Mexico and my Social Security is auto-deposited into a checking account in the US. I have used a WAMU debit card to get pesos from my WAMU checking account for years. Wamu charged a 1% foreign transaction fee, and the foreign owner of the ATM charged another 1%. Chase took over WAMU recently, and in addition to raising their portion of those 2 fees to 3% they have added a currency exchange adjustment which in my case amounts to a combined total of more than 10%. This is not due to currency price fluctuations, the ratio hasn't moved by more than 2% or so either way from 13.25 to the dollar in some time and is overall pretty stable. This week Chase adjusted my exchange rate to 11.58 for no reason that I can see but pure theft. I called them today and was told, politely, to suck it up and move on. Shame on Chase. I am retired in Mexico and my Social Security is auto-deposited into a checking account in the US. I have used a WAMU debit card to get pesos from my WAMU checking account for years. Wamu charged a 1% foreign transaction fee, and the foreign owner of the ATM charged another 1%. Chase took over WAMU recently, and in addition to raising their portion of those 2 fees to 3% they have added a currency exchange adjustment which in my case amounts to a combined total of more than 10%. This is not due to currency price fluctuations, the ratio hasn’t moved by more than 2% or so either way from 13.25 to the dollar in some time and is overall pretty stable. This week Chase adjusted my exchange rate to 11.58 for no reason that I can see but pure theft. I called them today and was told, politely, to suck it up and move on. Shame on Chase.

]]> By: yohan cho/anna lee http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7292 yohan cho/anna lee Fri, 20 Feb 2009 02:28:08 +0000 http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7292 Dear Chase Bank customer service: Re: disappeared my money in checking in Bank One. I am Yohan Cho's aunt, Anna Lee who live in Northridge, California. I was guardian for him who has been studied in Ohio University. He don't know which bank I should complain because Bank one was merged to Chase Bank. When he was a student in Ohio University, he deposited to Bank One. When he left for Korea to serve army (Korean obligation) 3 years ago, he left money(about $1200.00-$1300.00)in his account(#656837218) because he was planning to study in Ohio University again after he discharge from army. But he decided to study in Korea. So he wanted to withdraw money from his account, but he could't get it. He has called me how America bank did't return his money. Please dissolve in this special problem. This is serious trouble for your bank. If you have any question, please call me back at 213-276-1983. If you can not find Dear Chase Bank customer service:

Re: disappeared my money in checking in Bank One.

I am Yohan Cho’s aunt, Anna Lee who live in Northridge, California.
I was guardian for him who has been studied in Ohio University.
He don’t know which bank I should complain because Bank one was merged to Chase Bank. When he was a student in Ohio University, he deposited to Bank One. When he left for Korea to serve army (Korean obligation) 3 years ago, he left money(about $1200.00-$1300.00)in his account(#656837218) because he was planning to study in Ohio
University again after he discharge from army. But he decided to study in Korea. So he wanted to withdraw money from his account, but he could’t get it.
He has called me how America bank did’t return his money.
Please dissolve in this special problem. This is serious trouble for your bank.
If you have any question, please call me back at 213-276-1983.

If you can not find

]]> By: It’s not paranoia if they really are conspiring to seize YOUR bank « The SheaMan’s Weblog http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7263 It’s not paranoia if they really are conspiring to seize YOUR bank « The SheaMan’s Weblog Sat, 27 Sep 2008 20:12:45 +0000 http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7263 [...] Reserve Bank of New York, which it has controlled for decades.  The Bushies have literally given JP Morgan Chase a license to print money.)  By using Lehman Brothers, and Bear Stearns before it,  as sacrificial [...] [...] Reserve Bank of New York, which it has controlled for decades.  The Bushies have literally given JP Morgan Chase a license to print money.)  By using Lehman Brothers, and Bear Stearns before it,  as sacrificial [...]

]]> By: David http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7233 David Sun, 02 Mar 2008 01:32:53 +0000 http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7233 Yes. This is exactly correct, which is why I am filing a complaint with the account holder. By accepting the deducted payment, however I may have no final recourse. We will see where it goes. My main intent was to make people aware of this scam and that it is a basic contract violation for payment of a debt. Thanks for your input and the references. And, thanks for stopping by. David Yes. This is exactly correct, which is why I am filing a complaint with the account holder. By accepting the deducted payment, however I may have no final recourse. We will see where it goes. My main intent was to make people aware of this scam and that it is a basic contract violation for payment of a debt.

Thanks for your input and the references.

And, thanks for stopping by.

David

]]> By: Agkyra http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7232 Agkyra Sun, 02 Mar 2008 01:21:04 +0000 http://jeffersoniantoo.wordpress.com/2008/03/01/chase-bank-doesnt-honor-its-own-customers-checks/#comment-7232 Someone knowledgeable left the following comment on my post about Chase Bank on my blog. If I understand it, since Chase didn't honor the check from their customer, the person/company that wrote you the check is liable. Chase is liable, in turn, to that person, their customer, but not to you. So if you sue whoever gave you the check, they can sue Chase Bank. That might be the only way to end this dishonest practice. Here was the comment left on my blog: Chase should honor the presentment of the check, however, they are not liable to you for dishonoring it. A body of law called the Uniform Commercial Code controls here. Section 3-409 of the UCC states that “the drawee is not liable on the instrument until he accepts it” The drawee is the bank and you are the recipient of the instrument, in this case a check. The bank did not accept the check for payment, so you have no recourse against the bank. According to Section 3-122(e), “[a] cause of action against a drawer of a draft or an indorser of any instrument accrues upon demand following dishonor of the instrument.” The “drawer” is the person who wrote you the check. Therefore, the drawer is liable to you. Further, Section 4-402 states “[a] payor bank is liable to its customer for damages proximately caused by the wongful dishonor of an item.” Therefore, the bank is liable to the person who wrote you the check in the event that you enforce your rights against that person for payment. Someone knowledgeable left the following comment on my post about Chase Bank on my blog. If I understand it, since Chase didn’t honor the check from their customer, the person/company that wrote you the check is liable. Chase is liable, in turn, to that person, their customer, but not to you. So if you sue whoever gave you the check, they can sue Chase Bank. That might be the only way to end this dishonest practice.

Here was the comment left on my blog:

Chase should honor the presentment of the check, however, they are not liable to you for dishonoring it. A body of law called the Uniform Commercial Code controls here. Section 3-409 of the UCC states that “the drawee is not liable on the instrument until he accepts it” The drawee is the bank and you are the recipient of the instrument, in this case a check. The bank did not accept the check for payment, so you have no recourse against the bank. According to Section 3-122(e), “[a] cause of action against a drawer of a draft or an indorser of any instrument accrues upon demand following dishonor of the instrument.” The “drawer” is the person who wrote you the check. Therefore, the drawer is liable to you. Further, Section 4-402 states “[a] payor bank is liable to its customer for damages proximately caused by the wongful dishonor of an item.” Therefore, the bank is liable to the person who wrote you the check in the event that you enforce your rights against that person for payment.

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