Readers Respond: Read and Share Bad Online Bank Experiences

Responses: 53

By Justin Pritchard, About.com Guide

The bill collector called on Saturday and was hostile. On top of that, she didn't seem to understand how the bank system worked, which was ironic. She claimed I was making charges when my account was in the red. She didn't seem to understand there's a difference between when a charge is made (which Chase keeps no record of) and when it posts. On top of that, when I explained that the mobile banking info, as well at the ATM info, was incorrect, she informed me that the correct balance is actually printed on the receipt after making a purchase (which would indicate she's an idiot). Well, time for my lunch break. I'm going across the street to hand over a check my mom wrote to bail me out and to close my accounts. My dad is an accountant and can confirm my case is NOT the only case like this with Chase. Word of advice: avoid Chase like the plague.
—Guest Cris

I transferred funds from my other account to compensate, and a bit extra so I could buy food and whatnot for the day. My account at the end of the day was 10 dollars. The next day I awoke to find my account was under 130 dollars, due to a 140 insufficient funds fee from their random posting the night before. On top of that, the purchases I made the day that I (supposedly) had money had not posted yet. When they did, I got two more fees of 70 dollars each. I was charged a total of 280 dollars, leaving me 270 in debt, which simple math indicates I did indeed have money in my account. I tried disputing it at the chase across the street from my job, but they refused to take away the fine saying that it was impossible (which isn't true, they've done it twice in the past month at other locations). The manager told me to write down my own funds and do the math myself. So I figured if their service doesn't work, it's time for me to switch banks rather than constantly wrestle with it.
—Guest Cris

I checked everyday, and that's when I realized something was wrong. Every purchase would appear as a pending memo. The money would be set aside, and it would be taken from my available balance, supposedly as a means of preventing me from spending money I didn't have. It's important to note that ALL of my purchases appeared immediately, with the exception of iTunes, which seemed to sum up all my charges once a week. What I soon began noticing is my account would occasionally have money on it. The memo that was there before was removed, and Chase would tell me I had money when I actually didn't. Then the memo returns when it posts, which means my account is officially charged. So what happened the other day was I went to sleep with an account balance of 20 dollars. I know this because I was up until 1 am, and yes, I checked that late into the night. The next morning, one of my mysteriously removed memos posted, resulting in my account being under 40 dollars.
—Guest Cris

So the fun thing about Chase is that the balance they say you have is not actually your balance. They like not telling you this. Before I caught on, I thought I was just horrible with managing money. Admittedly, I spend quite a bit, and I keep my account near zero pretty often, but I guess that's the life of a reckless college student. Occasionally, my account would fall into the red. And I'd wonder why, because I would be certain that I was keeping track. So I got a new phone and I began using online banking using my cell phone. I thought this was pretty convenient, considering that I could check my balance at any time. So I began making sure that I had money prior to every purchase. Unfortunately for Chase, I'm obsessive compulsive, so I notice far better than others when something is awry, because I checked my account multiple times a day.
—Guest Cris

I have had EXCELLENT customer service with capitalone - they address my emails in personal and respectable ways. I have exchanged multiple emails with Chase, and only receive scripts back. They do not care about their long term clients (I opened my first card with them at 18), and do not respond in a personal way to issues. Do not bank or have credit cards with Chase. They only want to charge additional fees, raise interest rates, etc and make it impossible for customers to even been to discuss where these issues originate.
—mjod23

I recently paid a bunch of bills online, and so was on a bit of a roll. I carelessly clicked 'ok/submit' and only as I read the reciept number did I realise that the recipient was a bank account and not the biller I was trying to pay. I'd entered the wrong number in the 'biller code' and not noticed. I phoned the building society (bank) the next day and had to go in and fill in a form. A week later the money was returned to my account - the receiving bank had already spotted the error. So far, that's the only problem I've had, so not a horror story! It's taught me to take my time and double-check ALL the things I type in.
—Guest Helen

Bank requires SMS verification process of new payees makingit a useless account when you're overseas out off cell reception. As for bad service, that's one of the reasons for using an online account; no bored staff to face.
—Guest Ned

I love online banking. I'd be lost without it. Even before banking online I rarely ever went into my bank for anything. It was all ATM or drive-up windows for me. But there are a few little issues I have. #1: I got dependent on my online bill pay & my bank used to automatically deduct from my acct when I did a transaction. Then it changed it so it worked more like when you write paper checks - they didn't deduct until the payee got the money. That messed me up for months. I'd think I had more $ than I did. I'd beocme reliant on the old way. #2: It is so easy to transfer money between accounts. Too easy sometimes. I get in trouble at times because I try to do too many online transfers out of my savings acct in a month. That's a no-no (banking laws or something) plus of course I deplete my savings. Just the ease of seeing all my acct balances makes it too easy to spend it at times. Still LOVE online banking but I have to watch myself extra careful.
—Guest Taylor

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Justin Pritchard
Banking / Loans Guide