51–60 of 170 posts
Funny to see this pop up again (I'm the author). The year is now 2025 and I still use Chase as a personal bank and I'm now discovering new funny banking behaviors. I'll use this as a chance to share. :) My company had an exit, I did well financially. This is not a secret. I'm extremely privileged and thankful for it. But as a result of this, I've used a private bank (or mix) for a number of years to store the vast ma…
https://sneak.berlin/20191119/your-money-isnt-yours/
I finally just closed all my accounts there. It feels great. Fuck Chase.
Earlier quoted context omitted.
The fraud story is interesting, but something I had hoped would be addressed by the end of the post, wasn't. You wrote: >Someone out there is probably mentally screaming at me "you fool!" at this point. With hindsight, I agree... I was hoping the piece would end with what you would do now (or what should you have done) when Alex called you. Did I fail to understand something in the piece, and simply staying on the ph…
I would imagine this phone call's primary goal is trying to sell you higher margin financial products/services.
Earlier quoted context omitted.
I read the whole story and I'm still struggling to understand what you did wrong here. You indicated many times "I know, that was a mistake" (or similar phrases), but each time I was baffled because I saw no mistakes. It was your business, and you had every right to move around the funds within your account. What gives anyone at Chase the right to say diddly squat about how you manage your business' finances?
I don't think he was trying to imply that he did anything wrong. He was admitting the ignorance regarding how banks and banking work... plus acknowledging that a lot of readers will have had experiences that would make them think "Oh you young fool." In 2022 I lost my business banking and had to shut down a business that I owned for 20 years because it was related to the adult entertainment industry and, despite bein…
The industry is rife with this kind of fraud, and chargebacks represent tangible risk of financial loss, so banks just blanket ban working with certain industries.
People who sell precious metal jewelry for credit card payments are another.
Funny to see this pop up again (I'm the author). The year is now 2025 and I still use Chase as a personal bank and I'm now discovering new funny banking behaviors. I'll use this as a chance to share. :) My company had an exit, I did well financially. This is not a secret. I'm extremely privileged and thankful for it. But as a result of this, I've used a private bank (or mix) for a number of years to store the vast ma…
At what point does it make sense to sign up for private banking? I've been happy with our credit union for day to day stuff but we don't keep a ton of cash around (most of our money is in a brokerage account (ETFs)). Is private banking just for folks that want to have a lot of cash around but not have it in an easy to use account?
I think Chase starts “Private Client” at $250 or $300k. (Don’t use Chase, however.)
It might in some cases be more trouble than it is worth, if you are right around the threshold. A “normal” retail checking account and a brokerage account at another institution with the ability to transfer between them is probably sufficient for most. If you need loans or mortgages or other stuff, it might be worth the hassle (and phone calls).
During COVID, I took a major haircut in my day job, and ended up doing a lot of side work to stay solvent. All my banking was with Chase; I setup a new checking account for my side work. One day they just took about $900. No matter who I spoke to, they bounced me around and never gave me an answer why. I can only guess there was a fraud trigger or something, but to this day, I've never gotten the money back or even g…
I closed my account and have never directly used PayPal since.
> Ultimately, there was no long term negative impact of the events that transpired (except maybe for Alex, but I truly don't know) and I can now look back on it with amusement. So a software guy who didn't understand people or banking opens an account at Chase. And a guy from Chase who didn't understand people or software calls him-- repeatedly over years-- and fails to ever connect on any human level whatsoever. Now…
I’m curious why this company raised money, only to park it in a bank account? What was the raise for?
So let's say a startup was funded through a Chase bank account and now everyone on this thread is saying "yeah don't do that"... Let's say that a friend of mine has a startup funded account at Chase, and where should they go?