Checking or savings account -- Problem caused by your funds being low -- Complaint #5280917
Complaint Overview
Complaint ID: 5280917
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: Texas
ZIP Code: 763XX
Date Received: 2022-03-02T12:00:00-05:00
Date Sent to Company: 2022-03-02T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Chase was already sued for re-ordering transactions. I've mentioned it before and when I have, they reverse the charges ( generally ). I also have alerts for low balance and overdrafts on the account. On the morning of XXXX, I received an alert that I had an overdraft. The night before, there were no pending transactions of any kind to let me know the account would be overdrawn. I did not get an alert that my balance was low or that a transaction would process the night before. I checked it that evening and after midnight. The next morning, I saw an overdraft that appeared to have been done ( as all other overdrafts, with the largest item coming out, then the smaller one coming out after that, to cause 2 overdrafts instead of one. For one person, it may not be a big deal but I am certain that they make billions doing this, and I know they have been sued and settled for doing the same thing in the past, and they still continue to do it. The amounts were {$170.00} and {$15.00}. They have a policy that an overdraft of less than {$50.00} I believe will not charge a fee, but I believe they took out the {$170.00} item first so that the {$15.00} item would result in an overdraft. They will of course deny this, and they don't let you take screenshots of pending transactions so you can't ever prove it unless you use another device to take a photo or do an online screenshot, which is what I have done in the past when I called them out for re-ordering. They claim that they do it because the larger items are probably more important, but that would only make sense if the smaller items didn't also get paid, too. They have pretty much always returned the funds, because this is a known practice and they apparently did not make any changes after the last settlement. More needs to be done to protect people from these practices. I had the money to cover it, thankfully, but they keep taking {$34.00} from all of their customers for doing this and end up making a lot of money as a result. They should be required to tell you if an item is processing. There's no way that they don't see that from their side before it shows up the following morning as processed. They also should have to process payments in the order that they come in.
Frequently Asked Questions
What is Complaint #5280917 about?
Complaint #5280917 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2022-03-02T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.