Yeah I agree shut them down first!!! I remember a while back when I was looking to buy a home the rep from chase said I had to pay off the credit card that was included in my bankruptcy, should’ve got his name so I could sue them , too late now oh well
The sad thing is that most young people think that this is perfectly normal....banks used to stay completely out of your personal life, unless you had an overdrawn account...period
Organized crime, trade violations, and associated money laundering unfortunately made it necessary to ask more questions about where the money they're made responsible for through customer deposits was sourced from.
The problem isn't that Chase simply closes someone's account. People can deal with THAT. The problem is they close it then HOLD THEIR MONEY FOR MONTHS. Refer to the couple from Mesa AZ Chase held $40k they had to sue to get it back.
So they😮 Made some interest 😱 And Panic the Ppl. Looks like it is bad if you have lot's of money 🤑 And sad 🥺 if you have Like penny. That is how It' Looks like to me I'm confused
I had an account (not chase) suspended years ago, and they explained a bunch of these "triggers". I was guilty of purchasing "premium bird feed" with a credit card. Premium bird seed contains sunflower seeds they said, and was edible for humans, a sure sign that I was starving and penniless. (or I was FEEDING BIRDS ! fool) This is no joke.
About 20 years agoI had the strangest experience ever with BB&T, and it was so underhanded I won't even go into it here. I did get in touch with the Attorney General it was so bad and so strange. It went on for a year, and I quickly got away from any association with that bank, and I tell anybody who will listen in my small town about how bad that was. I had a letter addressed to the president of the bank that I never had to mail because it finally was resolved. Somehow I felt it was crooked on the local level and the powers that be were not aware.
How to avoid a chase shutdown? Don't be a customer in the first place. There are other banks that are better and treat their customer's money as if it's not not theirs
Chase is very sensitive and will close all your accounts without telling you a specific reason. I believe the factor in my case just over 2 years ago, was filing a fraud dispute on a few charges that someone made on a bicycle website in Southern California. Shortly after, the case was closed in my favor, I went to use my new Chase Debit Card and it declined. They closed all my accounts and about 2 weeks later, I was mailed a check for my deposits. I opened a new account a few months later, however within six months, it also was closed suddenly.
1st shutdown seems unfair, especially given the case being closed in your favor. 2nd shutdown was likely a annual audit and closure based off a blacklist (my guess anyways).
Chase is still great in terms of Credit cards. They gave me the highest limits after I built my credit up. Discover was second place in terms of credit line. Anyhow, great videos! It’s priceless education for people. 👍🏼
Yoooo the same thing happened to me!! My card was stolen, I filed a claim, they refunded me and sent me a new card then I didn’t even get to use my new card and they closed my account ! They didn’t send me an email to let me know they were closing and haven’t gotten a letter in the mail.
Once again Sebby is dropping knowledge from the fine print INSIDE the banking industry. With friends in Banking and CC Merchant Services, any activity that is defined by them as "high risk" is just avoided by these industries. Your suggestion to use your less preferred banking accounts are obvious to me but others may be reasonably oblivious to them. Great new nuggets of information.
Absolutely they should be free to do business with who they want - - and not do business with people they don't want (unless of course they are a baker then they should be forced to do business with everybody). Just as they should be free to choose, I will choose to avoid them. They aren't the only game in town.
@@benchoflemons398 What's your point? I fail to see where I contradicted what you said in your original reply and completely fail to see where your reply to me has anything to do with the discussion at hand.
Are you kidding? they are a business, and if you are not making them money, they have no obligation to let you keep using their product. I don't think you actually understand what freedom is.
"Freedom" inevitably gets them involved in money laundering for organized crime and trade violations, especially if they offer cards and services that crosses borders with no additional fees. That's why they're increasingly cautious about who banks with them.
Chase bank closed my savings account ( I ask why, they said "we don't have to tell you anything" . It seems like Chase doesn't want to give my money back..I never had problems with a bank until I opened savings account with Chase bank. I cannot figure out why .. Doesn't a person have right to know why Chase would close thier savings account, and suddenly decide they do not want to do business with them.
Lol. If Chase shut down your accounts, why on earth would you ever do business with them again? What you need to do is cancel all your Chase accounts and let them know it's due to the "reputational risk" you face doing business with them.
Ethereum will win in the long run. Bitcoin has huge transaction costs and slow processing times. Bitcoin is not usable as a currency. You would be a fool to send money with bitcoin when you'd be earning miles with Visa.
When did it become ok for a bank to dictate what you do with your money. Also, I have a question for anyone. So, are bank customers listed as depositors or share holders?
About the same time the employers stopped caring about you turning up on time and doing a good job and started worrying about what you did on your weekend 2 months ago when they weren't paying you and before you even started working the job i reckon.
Hold on. Suing someone else in power can get your bank account canceled?!? I will never use them seriously, outside of credit cards, if that is the case. Who a person sues has nothing to do with the bank, unless the person they are suing works for the bank.
Wish I would the seen this video previously! Chase closed THREE of my accounts w/no warning! I was devastated. How AWFUL. They drafted my ENTIRE BALANCE instead of the minimum payment which I signed up for automatically , so the payment was returned for my biz card. This resulted in a late payment- ALL my other accounts were drafting the minimum as agreed, zero lates- but they still closed ALL of my accounts. Ugh. Nightmare. :(
Chase is a Chinese run and operated bank. Different culture results in misinterpretation of rules. CHASE HAS RIGHT TO CLOSE AN ACCT BUT NO RIGHT TO KEEP PEOPLE'S MONEY. They do NOT quickly mail them a check, a person has to sue in a lot of cases. Refer to the couple in Mesa Arizona, Chase kept $40k of their money, as soon as they sued that's when Chase gave them back their money.
So you can't go to a gentleman's club and have girls giving you lap dances anymore. If you are buying firearms and ammunition Chase will shut you down fast, quick and in a hurry.
@@SarahDigsHockeyit doesn’t happen consistently. One customer is fine and another gets hit. A gun store owner told me that a lot of the big name banks decline transactions. Not always; randomly approve or decline. Some of this is driven by government regulations, or by government overreach. (I used to work in a bank.)
I've seen several posts where chase and wells Fargo are closing accts when people get back unemployment benefits or large social secutiry back pay that are electronically deposited saying it looks like a questionable deposit. What, it's electronic from the state?
So I understand that Chase can close your accounts due to the reason mentioned in the video, but do they every perform a financial review like American Express?
Data point for people paying two chase cards on same day. I was auto approved on two cards for 20k+, I asked them to lower to mid teens. Today I found out they lowered them to half that even due to an automatic review that occurs when people apply for multiple cards. So, if you don't want chase eyes on you spread out your apps.
funny in most cases it is illegal to retaliate against litigation but the banks apparently get a free pass. Chase needs to go the way of the dinosaur - if their position is all their customers are guilty until proven innocent which seems to be the case.
The best way to avoid chase from closing your accounts is not to do business or have any accounts with chase because they are a shady business and not worth wasting money and time on, which I don’t
There is a video of a woman whose Chase account was closed and she was banned for life. She did none of the “questionable” activities. They simply said it was because she had collected some unemployment. They said in order for her to get her $…about $3K, she has to prove it is rightfully hers. Forget she already did that with the state she lives in. Oh, btw, they told her she had to come into the bank. She said she lives in Hawaii and there isn’t a branch in Hawaii, to which she was asked when she was going to move back to he US!
Hi Sebby, there are recently DPs that people have been shutdown for "too many accounts." It all starts when eyes are put on the account. Is there any risk for product change chase cards? or applying to new chase cards?
Product changes are fine. New accounts are the main issue. If you have more than 4 new accounts (or even inquiries) in the last 6 months, I would hold off on your Chase apps just to play it safe. The reason I haven't done a video on this is because it's statistically insignificant and people have been getting reinstated by contacting the executive office. On a subreddit with 120,000 subs (and probably 100,000 to 500,000 lurkers), we have about 10 data points.
I've used them too. So far they haven't closed my accounts. However, it wasn't a large amount that was purchased. I used my Chase account to purchase it over three years ago.
Yup. Chase does whatever the hell they want. The gambling one is sooooo true. They shut down my account because I was making big deposits in cash and with check, closed my account, because I was a "risk". Opened a credit card and a car loan with them last year, and was able to reopen a checking account. Will never use them anymore, for big cash deposits. Makes it easier to pay all my bills with that account, that's pretty much the benefit to having all accounts with chase.
I own an online business and get paid by paypal. I transfer up to 2000 to 4000 weekly into my chase account. I withdraw that cash-money to buy more inventory every week. You got me a little worried here.
King Bladwin IV If it's something you've already been doing for awhile, I wouldn't worry about it. They're more concerned with big increases out of nowhere. Same thing applied for credit card spend ($10k month consistently vs. $100 a month and then $10k randomly).
Yeah, in that case PayPal uses ACH transfers which means PayPals bank submits the money to the federal reserve and then chase checks the federal reserve and sees a deposit from PayPal and PayPals bank and credits it into your account. I haven't been able to find any reports of shutdowns due to ACH deposits from services like PayPal as they usually see this and determine it as valid, plus the bank info is submitted as well, my credit union indicates PayPal deposits sometimes come from Wells Fargo, which means if they do suspect something they can follow the trail back up and track the money, if they ever have a reason to start an investigation. Yeah overall you should be completely fine
YEAH I HAD CHASE SHUT DOWN MY WAWA AND AMAZON CARD FOR NO APPARENT REASON. I WASN'T BEHIND, I PAID WHAT I NEEDED TO PAY, SO I'M LOST ON THAT ONE.... THAT WAS OVER 15 YEARS AGO. SO I'M THINKING OF APPLYING FOR CHASE FREEDOM... IS THAT A GOOD IDEA?
For better or for worst, Chase is a private company and they can decide to do business or not do business with anyone they choose. Sole exception are the classes of people protected by law(old age, gender, race etc.). While it may seem a bit of an overkill, most national banks refuse to do business with "sin" or "grey" businesses such as adult film, strip places or marijuana dispensaries. They are not doing this out "reputation"(well partially) but certain mutual funds/ETFs and religious institutions etc. refuse to do business or invest with companies involved with "sin" industry. The attorney general thing makes no sense...unless it involved a law suit due to marijuana etc.
Uh? Publicly traded does not negate the fact that it is a private company. I didn't say it was privately held/owned. Only difference is that the CEO/Board technically answers to the shareholders. It is only limited by laws but they can decide to do business with anyone as long as the law allows it. Don't like big banks? Give your business to a Credit Union, at least they answer to their customers.
My accounts got shutdown due to high number of inquiries chase said 12 total within 12 months . I did apply for business credit not personal credit. Not sure what to do
Pay off any balance with them and forget them, you can not rely on a moody and touchy bank for business ! I would avoid Wells Fargo as well those are crooks and will make your money disappear with shady fees and delayed transactions....
Alexis M what do you think is the best bank out there that isn’t moody? Chase shut down all 3 of my cards. I was only trying to build my CL. I guess I applied too soon one after the other
How about I shut down my relationship with them. I am so disgusted how they can push through charges at their "discretion" yet when I am traveling they block my charges.
I have a question for you so I got caught up in a scam of somebody online depositing to much money into my account .Then Chase shut down my bank. My question is would I be able to get another bank with no problem now
Off topic but what is your opinion on opening lots of cash back cards to get that 100 to 150 bonus? I understand travel cards can offer more value but that is reliant on redemptions for biz or first class and that requires spending more than an entire sign up bonus on one round trip ticket.
If you factor in Chase 5/24 (which you really should) CSP, CSR, and Ink Preferred give 50k, 50k, and 80k respectively, or 180k points in total. This can be redeemed for $1,800 in cash, which probably beats most other options. Even if you wanted to redeem it for economy travel, you still get 1.5 CPP with the CSR, meaning you're getting $2,700 in flights, hotels, cruises, etc.
Chase is not the only bank. Other banks offer equivalent accounts without all of the hassle. Close your accounts and move to where you will be appreciated as a customer.
these are rubbish reasons since you cannot do almost anything in the modern world without a bank account and since banks get government bailouts. randomly shut down account should not be
Hey Sebby, I'm a former Chase teller. I just want to make something clear. They don't close your account if you make a lot large cash deposits over 10k. They only do that if what you report as your income & job doesn't match up what you're depositing. So for instance if you put down that you work at McDonald's in the drive thru but you're constantly depositing large amounts of cash. Then that's when they close your account. Or if you own a small flower shop, depositing 10k as cash on a regular then that looks suspicious because that type of business doesn't generate that type of income. But if you a high luxury clothing store you might be making those type of deposits. Or if you a contractor you might be making those type of business. Also making international wires often don't necessarily mean that you're account will be shut down. For the most part it's no problem. But there is a list of countries that it will trigger a shut down. It's countries that are high risk activities with fraud or terrorism. Just thought your subscribers should know this information
Thats cool. When chase begs for another bailout lets tell them that we would love to bail them out but unfortunately we have our hands tied and remind them how they ended our relationship.
Hi Sebby, I found Chase cards to be most lucrative in terms of offers vs like Amex or Citi and it fits my travel goals. Is there financial risk Chase shutdown my cards if I apply a new card every 2 or 3 months? I have 1 card with chase for 10+ years.
Not that' 🤔 I know 😏 off Most of the time the bank offers you Add cards,.. Well you know what' They Make 💰💵 of it The More cards u. May have As a fee.is. Usually charge ás u know. Well that'. Was in my time. Now it' is worst 😢 But I no longer have any
I would like to see them to shut me down. My mortgage is with them and no late payments for 12 years. If they want to give me a hard time and start shutting down my credit cards I would just refinance my mortgage with a competitor.
@@Leemajors40 I got a letter with 3 reasons and none of them made sense smh I think its cause I always made my payments on time and they wanted that interest $$$$$
Bottom line. DO NOT USE CHASE BANK! Ever! For any reason! Walk away and don't give Chase a second thought, they are toxic to Conservatives! If you have a Chase account, CANCEL it NOW, and avoid the hassle later.
I keep ZERO in the bank and don't own a credit card. I put in just enough cash to cover my debit card. You are safer hiding your cash in a mason jar buried in the yard.
As a former teller at Chase, we are trained to recognize when someone is structuring a cash deposit to be under 10k. The teller won't say anything to you but once you leave they will file a report & then an investigation will start. Not only can they close your account if you're structuring. It's also illegal to do so & you'll have a lot more problems than just a closed account. So my recommendation is to not do it. Just deposit the money in full
@@DanielGuerra92 thanks for the response. Just to double check, no pun intended, is there ever suspicion for depositing a large amount of money orders daily?
jeremy t for the most part no, if it's consistent with your occupation/business & there's history of you doing it. You have nothing to worry about. Even if there's no history & you just started doing this, I wouldn't worry. It's only when you report having a job like working at McDonald's & you keep depositing money orders frequently & for a substantial amount is when it will become a problem
Sold a equipment for $22000 and deposited that check in to my business account with Chase, they put hold for 3 days, than it cleared and almost immediately froze my account, they said they need to call the owner of the check, but phone number have to be on there name, except 1 problem, buyers are Amish and they dont have nor use a phone numbers. Now im stuck, they wont release the funds nor that check, my account frozen with $22000 in it.
Only 1:02 into the video, and it is clear that you're BSing. In a correctly operating country, stable practices are required. A company closing down accounts for no reason is not stable. Second, your assertion about Chase sending the ex-account holder doesn't square with other accounts. No check is mailed, but Chase requires that the ex-account holder prove their ownership of the funds. One ex-Chase account holder lives in Hawaii (where there are no Chase branches), and Chase is not releasing any funds to her -- it's called theft.
Can you recommend a good credit union to be a client of in the state of California. I'm residing on Los Angeles and I don't need a shutdown from Chase.
Hi Sebby, what are your thoughts on purchasing gift cards to pay off student loans? This is not Visa, or "cash" gift cards, but through Gift of College. IMO, it would be ridiculous for them to clawback bonuses or cancel accounts over this because it's actual money being paid to a merchant. Just curious to what you've heard about this since it is technically a gift card.
Hey, nice vid! Listen, you mentioned in your vid that one reason for chase to close accounts is if you make too many international wires? So, i need to know if someone lives outside the usa and needs to do monthly wires to feed his account. What would you suggest in that case? i live overseas and plan to open an account. The only way for me to put money is via an international wire. Thanks.
Make sure you have a high credit card balance with them. Then let them shut your bank account with them. Say you will pay them when you can use your checking account!
@@maskedranchu4448 lmao same told me they couldn’t disclose why and they would send a check with the remaining balance. My balance was .76 cents. I didn’t even have a lot of money in my account 😂
I have 780 credit score with 170k income and they close all my account because I was putting everything on the cards like 20k every month never missed a payment or anything but they just want to do it I have Amex Platinum I charge more but never have this problem them
walid harizi hey hows your story end up? Are you still with other Banks and nothing ? I just got the same thing with chase. They closed my personal and business account, all credit and debit cards . I do International wires (paying to Russia) may be this is the reason ... Can't sleep 2nd night thinking about I do something illegal and don't know it ..
After Chase shuts you down why would you want to open an account in the future? There are lots of other banks and credit unions, many of them with a much better fee structure.
Chase closed my daughter’s account with no explanation they said they don’t want my daughter as a customer the kept her money the girl in customer service phone hang up the phone very rude she said is the right of chase they can do whatever they want and feel
Hey I just got account closed I called them they said you will not be able to open any account with us I didn’t do anything weird so is their a chance to open a new one in future?
I just opened a Chase account, and I fell like I can't trust them..I Think there going to shut down My account even tho I am paying everything i owe..it just feels uneasy with Chase.
Best way to avoid a shutdown is, don't do business with Chase. Period!
Yeah I agree shut them down first!!!
I remember a while back when I was looking to buy a home the rep from chase said I had to pay off the credit card that was included in my bankruptcy, should’ve got his name so I could sue them , too late now oh well
Don’t trust banks. Protect your $$$ the best way you know how. DON’T TRUST BANKS !!!!
I agree why must anyone be careful with their own money not to offend a bank
👍
Bingo!
The sad thing is that most young people think that this is perfectly normal....banks used to stay completely out of your personal life, unless you had an overdrawn account...period
Organized crime, trade violations, and associated money laundering unfortunately made it necessary to ask more questions about where the money they're made responsible for through customer deposits was sourced from.
@@doujinflipit’s just because of onerous regulations. There’s less crime than ever before.
Less _violent_ crime. Financial ones are getting worse.
Chase is the banking industry's equivalent of a Karen. Highly emotional and ready to go scorched earth over imagined slights.
Sounds pretty racist to me. Especially certain parts of Texas.
What the heck 😱
@@sipvypkbj103 Also transphobic
Thanks Josh. This is the no Karen zone. lol
Better idea DONT DO ANY BUSINESS WITH CHASE
Hit them where it counts, boycott them period
Exactly ‼️
Logical solution. Don't bank with Chase period.
Ohh 😯 Oh
Just now gonna be All of Them 😳 ás they all have issues
Chase is the most emotional bank ever lol
richyridiculoustv I got all 3 of my cards closed on at the same time
They are now canceling acounts for acts of wrong think
Lyn Charles wow
They closed my accounts and two credit cards. I was depositing too much money I guess. 👎🏾👎🏾👎🏾. It’s my account and my money but hey whateva.
Everyone also has a Indian voice and I can’t understand anyone !
The problem isn't that Chase simply closes someone's account. People can deal with THAT. The problem is they close it then HOLD THEIR MONEY FOR MONTHS. Refer to the couple from Mesa AZ Chase held $40k they had to sue to get it back.
So they😮 Made some interest
😱 And Panic the Ppl.
Looks like it is bad if you have lot's of money 🤑
And sad 🥺 if you have Like penny.
That is how It' Looks like to me
I'm confused
I had an account (not chase) suspended years ago, and they explained a bunch of these "triggers". I was guilty of purchasing "premium bird feed" with a credit card. Premium bird seed contains sunflower seeds they said, and was edible for humans, a sure sign that I was starving and penniless. (or I was FEEDING BIRDS ! fool) This is no joke.
You purchased premium bird seed. OMG!!! What were you thinking.
lol
wow!
I expected you to say it contains hemp seed
About 20 years agoI had the strangest experience ever with BB&T, and it was so underhanded I won't even go into it here. I did get in touch with the Attorney General it was so bad and so strange. It went on for a year, and I quickly got away from any association with that bank, and I tell anybody who will listen in my small town about how bad that was. I had a letter addressed to the president of the bank that I never had to mail because it finally was resolved. Somehow I felt it was crooked on the local level and the powers that be were not aware.
What nonsense 😱
But what The Heck
Try banking with credit unions if you can.
How to avoid a chase shutdown? Don't be a customer in the first place. There are other banks that are better and treat their customer's money as if it's not not theirs
Chase is very sensitive and will close all your accounts without telling you a specific reason. I believe the factor in my case just over 2 years ago, was filing a fraud dispute on a few charges that someone made on a bicycle website in Southern California. Shortly after, the case was closed in my favor, I went to use my new Chase Debit Card and it declined. They closed all my accounts and about 2 weeks later, I was mailed a check for my deposits. I opened a new account a few months later, however within six months, it also was closed suddenly.
1st shutdown seems unfair, especially given the case being closed in your favor.
2nd shutdown was likely a annual audit and closure based off a blacklist (my guess anyways).
Chase is still great in terms of Credit cards. They gave me the highest limits after I built my credit up. Discover was second place in terms of credit line. Anyhow, great videos! It’s priceless education for people. 👍🏼
Yoooo the same thing happened to me!! My card was stolen, I filed a claim, they refunded me and sent me a new card then I didn’t even get to use my new card and they closed my account ! They didn’t send me an email to let me know they were closing and haven’t gotten a letter in the mail.
OMG 😳 that' sad And scary
Feel for you
Once again Sebby is dropping knowledge from the fine print INSIDE the banking industry. With friends in Banking and CC Merchant Services, any activity that is defined by them as "high risk" is just avoided by these industries. Your suggestion to use your less preferred banking accounts are obvious to me but others may be reasonably oblivious to them. Great new nuggets of information.
We need banking institutions that appreciate freedom.
Absolutely they should be free to do business with who they want - - and not do business with people they don't want (unless of course they are a baker then they should be forced to do business with everybody).
Just as they should be free to choose, I will choose to avoid them. They aren't the only game in town.
@@benchoflemons398 What's your point? I fail to see where I contradicted what you said in your original reply and completely fail to see where your reply to me has anything to do with the discussion at hand.
Are you kidding? they are a business, and if you are not making them money, they have no obligation to let you keep using their product. I don't think you actually understand what freedom is.
There already ARE financial institutions that appreciate freedom. They're called credit unions.
"Freedom" inevitably gets them involved in money laundering for organized crime and trade violations, especially if they offer cards and services that crosses borders with no additional fees. That's why they're increasingly cautious about who banks with them.
Chase bank closed my savings account ( I ask why, they said "we don't have to tell you anything" . It seems like Chase doesn't want to give my money back..I never had problems with a bank until I opened savings account with Chase bank. I cannot figure out why .. Doesn't a person have right to know why Chase would close thier savings account, and suddenly decide they do not want to do business with them.
Get a lawyer they cant keep ypur money
There’re some other videos on TH-cam on people’s accounts being suddenly closed and “banned for life” and what happened next
This could be just a corporate $ scoop! Getting rid of small accounts? Knowing 20% of Chase Acct.'s won't fight it? That's profit $$$$ for them!
@@playmusicnet7347 That is not profit. That is stealing.
That's what lawsuits are for, my friend. That's what lawsuits are for.
Lol. If Chase shut down your accounts, why on earth would you ever do business with them again? What you need to do is cancel all your Chase accounts and let them know it's due to the "reputational risk" you face doing business with them.
Who investigates JPChase Morgan?
Explicitly said he doesn't own Bitcoin but nothing about being in porn...
Will S LoL Nice catch!
Hahahahahahaha
Ethereum will win in the long run. Bitcoin has huge transaction costs and slow processing times. Bitcoin is not usable as a currency. You would be a fool to send money with bitcoin when you'd be earning miles with Visa.
Snowflakes are White stellar
@@JayChizza and...he was right
When did it become ok for a bank to dictate what you do with your money. Also, I have a question for anyone. So, are bank customers listed as depositors or share holders?
About the same time the employers stopped caring about you turning up on time and doing a good job and started worrying about what you did on your weekend 2 months ago when they weren't paying you and before you even started working the job i reckon.
Funny that they worry about money laundering.
Exactly....grrrr
It’s better to have different cards with different banks. Your safe that way.
Hold on. Suing someone else in power can get your bank account canceled?!? I will never use them seriously, outside of credit cards, if that is the case. Who a person sues has nothing to do with the bank, unless the person they are suing works for the bank.
Agent_WestCoast A In most states, the Attorney General is clearly an employee of the banks.
Wish I would the seen this video previously! Chase closed THREE of my accounts w/no warning! I was devastated. How AWFUL. They drafted my ENTIRE BALANCE instead of the minimum payment which I signed up for automatically , so the payment was returned for my biz card. This resulted in a late payment- ALL my other accounts were drafting the minimum as agreed, zero lates- but they still closed ALL of my accounts. Ugh. Nightmare. :(
Did you end up solving your problem? I'm curious to know.
Chase is a Chinese run and operated bank. Different culture results in misinterpretation of rules. CHASE HAS RIGHT TO CLOSE AN ACCT BUT NO RIGHT TO KEEP PEOPLE'S MONEY. They do NOT quickly mail them a check, a person has to sue in a lot of cases. Refer to the couple in Mesa Arizona, Chase kept $40k of their money, as soon as they sued that's when Chase gave them back their money.
So you can't go to a gentleman's club and have girls giving you lap dances anymore. If you are buying firearms and ammunition Chase will shut you down fast, quick and in a hurry.
that is why I withdraw funds when I am going to the adult club or buying firearms and ammo.
Also the reason I closed my Bank America accounts after using them for decades....
Not so sure about that one. I bought a firearm using a Chase debit card. All five of my Chase accounts are still up and running.
@@SarahDigsHockeyit doesn’t happen consistently. One customer is fine and another gets hit.
A gun store owner told me that a lot of the big name banks decline transactions. Not always; randomly approve or decline.
Some of this is driven by government regulations, or by government overreach. (I used to work in a bank.)
Stop banking with these large banks. Go to a community credit union..
I've seen several posts where chase and wells Fargo are closing accts when people get back unemployment benefits or large social secutiry back pay that are electronically deposited saying it looks like a questionable deposit. What, it's electronic from the state?
This came on my recommended… wow how Ask Sebby has developed and changed over these seven years
So I understand that Chase can close your accounts due to the reason mentioned in the video, but do they every perform a financial review like American Express?
Data point for people paying two chase cards on same day. I was auto approved on two cards for 20k+, I asked them to lower to mid teens. Today I found out they lowered them to half that even due to an automatic review that occurs when people apply for multiple cards. So, if you don't want chase eyes on you spread out your apps.
Thanks for the DP :)
Same just happened
funny in most cases it is illegal to retaliate against litigation but the banks apparently get a free pass. Chase needs to go the way of the dinosaur - if their position is all their customers are guilty until proven innocent which seems to be the case.
The best way to avoid chase from closing your accounts is not to do business or have any accounts with chase because they are a shady business and not worth wasting money and time on, which I don’t
How many billion did Chase Manhattan launder for the Cartels?
Duck in hypocrites
Save yourself close your chase accounts now... Hurry... Save yourself..
There is a video of a woman whose Chase account was closed and she was banned for life. She did none of the “questionable” activities. They simply said it was because she had collected some unemployment. They said in order for her to get her $…about $3K, she has to prove it is rightfully hers. Forget she already did that with the state she lives in. Oh, btw, they told her she had to come into the bank. She said she lives in Hawaii and there isn’t a branch in Hawaii, to which she was asked when she was going to move back to he US!
Close it out before they do.
Hi Sebby, there are recently DPs that people have been shutdown for "too many accounts." It all starts when eyes are put on the account. Is there any risk for product change chase cards? or applying to new chase cards?
Product changes are fine. New accounts are the main issue. If you have more than 4 new accounts (or even inquiries) in the last 6 months, I would hold off on your Chase apps just to play it safe.
The reason I haven't done a video on this is because it's statistically insignificant and people have been getting reinstated by contacting the executive office. On a subreddit with 120,000 subs (and probably 100,000 to 500,000 lurkers), we have about 10 data points.
Why I didn’t see this. Waiting on the mail but I used Coinbase with chase. Closed all 3 credit cards. Trying to figure out my next step
I've used them too. So far they haven't closed my accounts. However, it wasn't a large amount that was purchased. I used my Chase account to purchase it over three years ago.
Yup. Chase does whatever the hell they want. The gambling one is sooooo true. They shut down my account because I was making big deposits in cash and with check, closed my account, because I was a "risk".
Opened a credit card and a car loan with them last year, and was able to reopen a checking account. Will never use them anymore, for big cash deposits. Makes it easier to pay all my bills with that account, that's pretty much the benefit to having all accounts with chase.
ImmunityMuzik I recommend do all ur banking with Alliant credit union. They are the best. Lots of reviews online
So what's the point of banking with them of you have walk on egg shells?
Thanks!
Thank you! :)
I was shut down today by chase!
All 3 of my accounts. So is it possible to do a dispute?
Tyler Johnson any feed back cause I just got mine suspended and they didn’t state why
@@etinjohn same..
Did you get all of your money back ?
I own an online business and get paid by paypal. I transfer up to 2000 to 4000 weekly into my chase account. I withdraw that cash-money to buy more inventory every week. You got me a little worried here.
King Bladwin IV If it's something you've already been doing for awhile, I wouldn't worry about it. They're more concerned with big increases out of nowhere. Same thing applied for credit card spend ($10k month consistently vs. $100 a month and then $10k randomly).
Yeah, in that case PayPal uses ACH transfers which means PayPals bank submits the money to the federal reserve and then chase checks the federal reserve and sees a deposit from PayPal and PayPals bank and credits it into your account. I haven't been able to find any reports of shutdowns due to ACH deposits from services like PayPal as they usually see this and determine it as valid, plus the bank info is submitted as well, my credit union indicates PayPal deposits sometimes come from Wells Fargo, which means if they do suspect something they can follow the trail back up and track the money, if they ever have a reason to start an investigation.
Yeah overall you should be completely fine
YEAH I HAD CHASE SHUT DOWN MY WAWA AND AMAZON CARD FOR NO APPARENT REASON. I WASN'T BEHIND, I PAID WHAT I NEEDED TO PAY, SO I'M LOST ON THAT ONE.... THAT WAS OVER 15 YEARS AGO. SO I'M THINKING OF APPLYING FOR CHASE FREEDOM... IS THAT A GOOD IDEA?
For better or for worst, Chase is a private company and they can decide to do business or not do business with anyone they choose. Sole exception are the classes of people protected by law(old age, gender, race etc.). While it may seem a bit of an overkill, most national banks refuse to do business with "sin" or "grey" businesses such as adult film, strip places or marijuana dispensaries. They are not doing this out "reputation"(well partially) but certain mutual funds/ETFs and religious institutions etc. refuse to do business or invest with companies involved with "sin" industry. The attorney general thing makes no sense...unless it involved a law suit due to marijuana etc.
Chase is not a private company, its publicly traded.
He means private in the sense of private sector, i.e. not state-owned or nationalised.
Uh? Publicly traded does not negate the fact that it is a private company. I didn't say it was privately held/owned. Only difference is that the CEO/Board technically answers to the shareholders. It is only limited by laws but they can decide to do business with anyone as long as the law allows it. Don't like big banks? Give your business to a Credit Union, at least they answer to their customers.
They don't business with marijuana dispensaries bc the Feds say if they do they would shut them down!
My accounts got shutdown due to high number of inquiries chase said 12 total within 12 months . I did apply for business credit not personal credit. Not sure what to do
Business credit usually still pulls personal. Did you decrease your CL with Chase? I would call and see what can be done.
Thanks will call and find out
Pay off any balance with them and forget them, you can not rely on a moody and touchy bank for business ! I would avoid Wells Fargo as well those are crooks and will make your money disappear with shady fees and delayed transactions....
Alexis M what do you think is the best bank out there that isn’t moody? Chase shut down all 3 of my cards. I was only trying to build my CL. I guess I applied too soon one after the other
Chase closed my account because I don’t have enough credit history on my credit report ... I’m upset and never been late and great payment history
Try another bank, preferably a small community bank or TD bank.
How about I shut down my relationship with them. I am so disgusted how they can push through charges at their "discretion" yet when I am traveling they block my charges.
I have a question for you so I got caught up in a scam of somebody online depositing to much money into my account .Then Chase shut down my bank. My question is would I be able to get another bank with no problem now
Off topic but what is your opinion on opening lots of cash back cards to get that 100 to 150 bonus? I understand travel cards can offer more value but that is reliant on redemptions for biz or first class and that requires spending more than an entire sign up bonus on one round trip ticket.
If you factor in Chase 5/24 (which you really should) CSP, CSR, and Ink Preferred give 50k, 50k, and 80k respectively, or 180k points in total. This can be redeemed for $1,800 in cash, which probably beats most other options. Even if you wanted to redeem it for economy travel, you still get 1.5 CPP with the CSR, meaning you're getting $2,700 in flights, hotels, cruises, etc.
The lesson. Don't use Chase!
Why the heck would anybody go back and reapply for accounts with Chase? There are so many other options!
Exactly! I do not understand.
It sounds like Chase is a good bank to stay away from. Unfortunately their popping up all over the place in my part of the country.
Chase is not the only bank. Other banks offer equivalent accounts without all of the hassle. Close your accounts and move to where you will be appreciated as a customer.
these are rubbish reasons since you cannot do almost anything in the modern world without a bank account and since banks get government bailouts. randomly shut down account should not be
Wow. So unexpected but info rich. Sebby you're golden!
screw chase bank one of the last banks I would deal with. WOW what a Free country we live in.. Everyone is watching you.
Well as of now any check deposited over the amount of $500 will be scrutinized and if theres is somehting they dont like, account will be closed
What? Explain...
Hey Sebby, I'm a former Chase teller. I just want to make something clear. They don't close your account if you make a lot large cash deposits over 10k. They only do that if what you report as your income & job doesn't match up what you're depositing. So for instance if you put down that you work at McDonald's in the drive thru but you're constantly depositing large amounts of cash. Then that's when they close your account. Or if you own a small flower shop, depositing 10k as cash on a regular then that looks suspicious because that type of business doesn't generate that type of income. But if you a high luxury clothing store you might be making those type of deposits. Or if you a contractor you might be making those type of business. Also making international wires often don't necessarily mean that you're account will be shut down. For the most part it's no problem. But there is a list of countries that it will trigger a shut down. It's countries that are high risk activities with fraud or terrorism. Just thought your subscribers should know this information
Sorry but they closed my daughter’s account for no reason and kept her money
Thats cool. When chase begs for another bailout lets tell them that we would love to bail them out but unfortunately we have our hands tied and remind them how they ended our relationship.
Hi Sebby, I found Chase cards to be most lucrative in terms of offers vs like Amex or Citi and it fits my travel goals. Is there financial risk Chase shutdown my cards if I apply a new card every 2 or 3 months? I have 1 card with chase for 10+ years.
You should be fine. You want Chase cards "first" anyways to optimize 5/24. Watch our video on that for more details.
Not that' 🤔 I know 😏 off
Most of the time the bank offers you
Add cards,..
Well you know what'
They Make 💰💵 of it
The More cards u. May have
As a fee.is. Usually charge ás u know.
Well that'. Was in my time.
Now it' is worst 😢
But I no longer have any
Great video that not many people talk about it. Why don't you make a video of how people can become a Chase Private Client? Thanks Sebby!
th-cam.com/video/Bc_u1WAbJeM/w-d-xo.html
What if you have a negative balance go into collections? If I remove the collections can I start another relationship with chase ?
I would like to see them to shut me down. My mortgage is with them and no late payments for 12 years. If they want to give me a hard time and start shutting down my credit cards I would just refinance my mortgage with a competitor.
Yes. Get out while it is convenient to you.
they also can lower your credit limit because of high balance with other lenders!
That’s pretty standard for all lenders. The golden rule is bankers only lend to people that don’t need it.
had my card since june and they just closed it smh i have no idea why.. on time with payments and used regularly
did they ever give you a reason why they canceled it
@@Leemajors40 I got a letter with 3 reasons and none of them made sense smh I think its cause I always made my payments on time and they wanted that interest $$$$$
@@AlteredState76 yeah they shut me down , didnt give me a reason
And don’t buy double breasted suits and fedoras through Chase; that looks like Mafia-wear and they will cancel you.
I got my 1st AE as a supplemental on a friend's. We agreed to 6 months, but since I was also working for AE, I applied solo in 3 most & got it.
love your content and info Sebby! thanks bro...here in SF also.
Bottom line. DO NOT USE CHASE BANK! Ever! For any reason! Walk away and don't give Chase a second thought, they are toxic to Conservatives! If you have a Chase account, CANCEL it NOW, and avoid the hassle later.
I plan to walk away as soon as my automobile is paid for….!
I keep ZERO in the bank and don't own a credit card. I put in just enough cash to cover my debit card. You are safer hiding your cash in a mason jar buried in the yard.
You put your money in a Chase bank account? On purpose?
I just got banned by chase and did not hit any of the points mentioned, what to do? Is chase the bank that does this more often than other?
what do you think will happen if I deposit $9,500 in cash into my chase checking account ???
As a former teller at Chase, we are trained to recognize when someone is structuring a cash deposit to be under 10k. The teller won't say anything to you but once you leave they will file a report & then an investigation will start. Not only can they close your account if you're structuring. It's also illegal to do so & you'll have a lot more problems than just a closed account. So my recommendation is to not do it. Just deposit the money in full
@@DanielGuerra92 are money orders treated as cash or as checks? In other words, do money orders get viewed as what you just said?
jeremy t they're treated as checks
@@DanielGuerra92 thanks for the response. Just to double check, no pun intended, is there ever suspicion for depositing a large amount of money orders daily?
jeremy t for the most part no, if it's consistent with your occupation/business & there's history of you doing it. You have nothing to worry about. Even if there's no history & you just started doing this, I wouldn't worry. It's only when you report having a job like working at McDonald's & you keep depositing money orders frequently & for a substantial amount is when it will become a problem
Sold a equipment for $22000 and deposited that check in to my business account with Chase, they put hold for 3 days, than it cleared and almost immediately froze my account, they said they need to call the owner of the check, but phone number have to be on there name, except 1 problem, buyers are Amish and they dont have nor use a phone numbers. Now im stuck, they wont release the funds nor that check, my account frozen with $22000 in it.
I want to get a chase sapphire preferred! I have no credit card debt but I do have 4 other cards? Should I try and transfer a balance?
Read above and below your post. Why the HELL would you want them in your life handling your money.
Will they close your account if you cancel cards before being charged for the second year?
They'll send you to collections.
Only 1:02 into the video, and it is clear that you're BSing. In a correctly operating country, stable practices are required. A company closing down accounts for no reason is not stable. Second, your assertion about Chase sending the ex-account holder doesn't square with other accounts. No check is mailed, but Chase requires that the ex-account holder prove their ownership of the funds. One ex-Chase account holder lives in Hawaii (where there are no Chase branches), and Chase is not releasing any funds to her -- it's called theft.
Can you recommend a good credit union to be a client of in the state of California. I'm residing on Los Angeles and I don't need a shutdown from Chase.
Hi Sebby, what are your thoughts on purchasing gift cards to pay off student loans? This is not Visa, or "cash" gift cards, but through Gift of College. IMO, it would be ridiculous for them to clawback bonuses or cancel accounts over this because it's actual money being paid to a merchant. Just curious to what you've heard about this since it is technically a gift card.
I just got two chase credit cards using the truck he said about doing it at the same time
Don't do business with them, Banks once liked customers.
Hey, nice vid! Listen, you mentioned in your vid that one reason for chase to close accounts is if you make too many international wires? So, i need to know if someone lives outside the usa and needs to do monthly wires to feed his account. What would you suggest in that case? i live overseas and plan to open an account. The only way for me to put money is via an international wire. Thanks.
Wise money transfers, good, but not perfect.
Make sure you have a high credit card balance with them. Then let them shut your bank account with them. Say you will pay them when you can use your checking account!
Avoid Chase ... poor customer service.
Hell on Wheels I was shut down on 3 cards on the same day
I second that, they are terrible customer service.
They are freakin horrible! I wish karma would get them, closing my acc for suspicious activity when there’s none!
@@maskedranchu4448 lmao same told me they couldn’t disclose why and they would send a check with the remaining balance. My balance was .76 cents. I didn’t even have a lot of money in my account 😂
Excellent information thank you very much!
I have 780 credit score with 170k income and they close all my account because I was putting everything on the cards like 20k every month never missed a payment or anything but they just want to do it I have Amex Platinum I charge more but never have this problem them
Chase is unreliable, and doesn’t like big guys maybe it’s a bank for high school and college students, they just buy books and lattes.
walid harizi hey hows your story end up? Are you still with other Banks and nothing ? I just got the same thing with chase. They closed my personal and business account, all credit and debit cards . I do International wires (paying to Russia) may be this is the reason ... Can't sleep 2nd night thinking about I do something illegal and don't know it ..
Wow! 🤯
I mean, first ask yourself why you would do business with Chase.
You can avoid it by not banking with Chase .
After Chase shuts you down why would you want to open an account in the future? There are lots of other banks and credit unions, many of them with a much better fee structure.
What if you have a checking acct with chase and they close your credit card accounts.
Will they close your checking account too?
Why isn't chase explaining this?
Get rid of your Chase account first!!
What I do with my money is
Is nobody's business
if I have the funds cash the checks
And stfu
My wife's Chase account was shut down last week, no reason, and she wasn't in violation of any of these reasons.
what if i use debit card to buy crypto currency around 50-100 bucks? no credit just debit of chase visa, will they close my account down?
You should be fine given the small value. Why not just open a spare account with a bank you don't care about? Or a credit union?
cuz i dont know anything bout banks lol but mayb in the future xD
Yes
Chase closed my daughter’s account with no explanation they said they don’t want my daughter as a customer the kept her money the girl in customer service phone hang up the phone very rude she said is the right of chase they can do whatever they want and feel
Chase closed my account and they ended the relationship and won’t tell me why I did notice a fake check on my end that was not done by me
I love your channel. But does this mean Chase may close down my Sapphire accounts if I buy adult toys or subscriptions? *ASKING FOR A FRIEND*
Hey I just got account closed I called them they said you will not be able to open any account with us I didn’t do anything weird so is their a chance to open a new one in future?
WTF? Why?
I just opened a Chase account, and I fell like I can't trust them..I Think there going to shut down My account even tho I am paying everything i owe..it just feels uneasy with Chase.