Saturday, June 19, 2010

Boycott JPMorgan Chase!

Normally I would not contaminate my trip blog with a post like this, but since May 28 JPMorgan Chase has charged me $24 in bogus fees related to my ATM activities in Central America.  Some of these charges I was aware of ahead of time, some of them I admit I should have known about but didn't, but a couple of them are so pernicious it makes my blood boil.

Basically what they did was nickel and dime me with fees until one of my accounts went below a minimum balance requirement.  Most of this "feeing" happened under my radar screen because I wasn't checking these accounts online everyday.  Since one of the accounts was briefly below the minimum, it seems now they have charged me a total of $10 more for that sin!

I wrote to them twice to complain, but all I get are form replies.  Does anyone else have any banking horror stories like these?  It's easy to forget that 20 or 30 years ago banks wouldn't have dreamed of charging all these bogus fees for the "privilege" of having access to our own money.  I consider this fee-based banking to be a form of legalized theft.  We should always complain when we are getting ripped off even if we don't get the results we deserve.

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