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Cautionary tale on using Chase bank for indie business

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Re: Cautionary tale on using Chase bank for indie business

#32
post #14

When I first moved to the SF Bay it tickled me to find there was no retail Chase Bank presence at all. Then the financial collapse and bailouts happened, Chase scooped up WaMu, and now Chase is everywhere here. :sadpanda: I won't even take money from their ATMs if I can avoid it, my bank covers ATM fees, but f*ck giving that company another dime.

Is there a bank you recommend? Mostly I use online banks but every now and then you just need to go to a physical bank. I am a bit nomadic so one with branches all over the country would be good, although I know those are the most likely to be terrible

Re: Cautionary tale on using Chase bank for indie business

#33

Similar 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 p…

Infuriating. That kind of thing is what makes me wish I could not have to ever deal with a bank ever again.

Re: Cautionary tale on using Chase bank for indie business

#34

Similar 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 p…

I've had some weird experiences related to my address although none were really a serious problem. My street name changed (probably when an interstate spur was put in about 40 years ago) and I still have issues now and then with geolocation.

Re: Cautionary tale on using Chase bank for indie business

#35
post #10

Crypto 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.

My local credit union has gone from anti crypto to fully support; I was one of a dozen or so people who were able to provide legitimate datapoints to support bitcoin usages that weren't illegal.

So glad I was able to just walk in to the local HQ and have a sit-down with the person who ultimately authorized crypto exchange transactions. YMMV

Re: Cautionary tale on using Chase bank for indie business

#36

The 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…

I would've had a lawyer on retainer within the first week and had them in touch with the legal department until I got my check. We've had similar weird issues with our home address and the mortgage company that suddenly got cleared up when we put our lawyer in touch with their lawyer and there turned out to be a very simple form and process for changing the address of the property.

Re: Cautionary tale on using Chase bank for indie business

#38

Similar 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 p…

Congrats on the retiring!

Are you still doing the hats & bottles or did you retire from that too?

Re: Cautionary tale on using Chase bank for indie business

#40
I went to Chase Bank to withdraw cash for a Facebook deal, and they refused because I didn’t have their app. The teller couldn’t verify my driver's license or passport, insisting the only way was through their app's 2FA. This is exactly why I stick with credit unions—where I can work with real humans who actually help.
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