Glad you got your money back Jason! Not often you get to read a post from the future, either ;) "posted on 2024/09/21"
fuck lol, i messed up the date but if i fix it it breaks the url
Cautionary tale on using Chase bank for indie business
21–30 of 282 posts
Re: Cautionary tale on using Chase bank for indie business
#22Re: Cautionary tale on using Chase bank for indie business
#23The most important lesson learned here is not to ever deal with retail banking at the branch. Not only do they not care they aren’t given the authority or autonomy to help you. By trying to do this at multiple branches across the country OP likely made the problem worse as those actions raise suspicions even more. With that much money after the first day of inaction by support he should have CC’d every department fro…
yeah it was hard to fit in my travel schedule, i totally agree it was a terrible experience losing contact and starting over with many people
Re: Cautionary tale on using Chase bank for indie business
#24Re: Cautionary tale on using Chase bank for indie business
#25Title is different?
Should be: Chasing Chase: Why I'll Never Trust Chase Bank Again, A Yuppie Nightmare
Re: Cautionary tale on using Chase bank for indie business
#26Similar experience: Citibank Retirement.
I had about $80,000 in IRA/CD's. I'd created & contributed to them over a period of 35 years.
Last year, it's time to retire, and Citibank won't give me half the money. It seems that some CD's are for "Cliff Stoll" and some for "Clifford Stoll".
Citibank Retirement demanded a "Marriage Certificate, Divorce Decree, or Court Order" to demonstrate that "Cliff Stoll" is the same person as "Clifford Stoll".
Took more than 8 months, dozens of emails, five visits to Citibank offices, and a letter to the Citibank president, to shake loose money that I'd deposited across three decades.
Re: Cautionary tale on using Chase bank for indie business
#27Strong recommend on using meow.com. You can get interest on your primary checking account, and easy access to high yield treasury management services.
I’ve been following the Evolve Bank fallout on the FinTech Weekly newsletter, and the whole situation scares me about Mercury. I used to bank with them, but the sanctions by the Federal Reserve and the continued disclosures about lacking KYC and money laundering controls has me worried there are other problems.
Re: Cautionary tale on using Chase bank for indie business
#28Diversifying in many cases won't help you. If a bank suspects fraud, they can tell other banks about their suspicion, which will cause all banks to freeze your accounts and none will be able to tell you why.
Especially if/when a person or business goes into the ChexSystems "blacklist" [1] where that individual or business can't have a bank account in the US, Canada, and EU for five to seven years.
[1] https://www.nerdwallet.com/article/banking/blocked-by-chexsy...
Re: Cautionary tale on using Chase bank for indie business
#29Re: Cautionary tale on using Chase bank for indie business
#30Crypto solves this. Well, eventually, after initially making it worse, because all your crypto-adjacent transactions in the meantime make legacy banks extra-hair-trigger suspicious.
This seems somewhat contentious, but having some assets outside of the banks is a pretty reasonable derisking mechanism. Bitcoin, and some stablecoins seem like a wise choice.