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Thread: CUT OFF BY CHASE IN NY, WARNING DO NOT ORDER MORE THAN 2 BOXES

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  1. #1

    Jul 2011
    51
    3 times
    All Types Of Treasure Hunting

    CUT OFF BY CHASE IN NY, WARNING DO NOT ORDER MORE THAN 2 BOXES

    CUT OFF BY CHASE IN NY, WARNING DO NOT ORDER MORE THAN 2 BOXES
    Chase was my best producing bank, had a great relationship with the bankers and tellers. I was on
    a first name basis with everyone. The branch that I dealt with primarily went out of their way to
    accomondate me and my "hobbie" They ordered for me twice a week until the "loss prevention department" got
    involved. I was told by the teller that the branch manager got a call from the lost prevention department at Corporate and
    was told to cease ordering coins for me and my account was going to be closed. I called the department and asked for an explaination
    and they told me that they told me it is due to the activity on my account, coin orders. I explained to them that I
    was a customer for over 20 years and currently have two mortages with them and had paid off one a couple of years ago. Their
    response was that it didn't matter and the closing of my account will not effect my loans with them. Attached is a copy of the letter.

    The Loss prevention department told me that they are cracking down on all orders, for coins, from personal account holders

    Warning: Chase is tracking all of the orders and will close your account when they see fit. Chase charges business customers $0.15 cents a roll, $7.50 a box for coins. Chase is losing money everytime a customer with a personal account orders boxes.
    Attached Files Attached Files
    Last edited by onelife; May 11, 2012 at 08:26 AM. Reason: additional

  2. #2
    us
    Mar 2012
    44
    1 times
    All Types Of Treasure Hunting
    JPM is well known for suppressing silver price. Allowing people to go long silver at their loss is a conflict of their interest. It's no point to discuss with them. Move all your loans to a bank that is willing to favor the hobby. They deserve your business.
    SilverForBrains likes this.

  3. #3
    ca
    Dec 2011
    503
    20 times
    Coin Roll Hunting
    So are they charging personal account for ordering boxes or not?
    2012 Goals
    2000/2000 nickels
    0/5 Mercury dimes
    0/10 Tombac nickels
    0/10 War Nickels
    0/1 Silver dollar
    3/2 Silver half-dollar
    14/100 silver dime
    1/10 George V nickel
    150/100 Wheat cents
    2/5 Indian Head Penny
    1/1 2006 no P magnetic
    4/4 Clipped planchet
    1/1 Blank planchet

  4. #4

    Jul 2011
    51
    3 times
    All Types Of Treasure Hunting
    I made that arugment with them about moving my loans and their response was "thats up to you"

  5. #5
    us
    Nov 2011
    Sulphur, NV
    1,497
    419 times
    All Types Of Treasure Hunting
    How many boxes/week and from how many branches? I find it hard to believe Chase can attract business customers and charge that much for coin orders when so many other banks do not charge anything at all. I suspect what put you on their radar was the 2x/week pick up.

  6. #6
    us
    Nov 2011
    Sulphur, NV
    1,497
    419 times
    All Types Of Treasure Hunting
    Additionally, closing the account is another level of stupid on their part. Why not just start charging fees on the boxes? Then at least they retain the principal balance to make money off of until you choose to close the account. I also like Chase banks around here, the staff is always super friendly. I plan to add one pickup today.

  7. #7

    Jul 2011
    51
    3 times
    All Types Of Treasure Hunting
    I was ordering from two different chase banks, only 1 ordered for me twice a week

  8. #8
    us
    Feb 2012
    395
    155 times
    Coin roll hunting
    Thats crazy. Why terminate your account? Especially that it was a "real" account and not a dummy with 20 bucks so you can order boxes. Simply charge for boxes or just say no...that is idiotic. If you find a suitable option, move everything and ideally eliminate any further opportunity for them to make a dime of you, and if they do make another dime make sure its post-1964.
    TRanegar36, CurlysGold and Senor like this.

  9. #9

    Jul 2011
    51
    3 times
    All Types Of Treasure Hunting
    I am so aggreviated about this letter. I went to the local branch and they advised me that there is nothing they can do for me

  10. #10
    us
    OCD Coin Hunter

    May 2011
    184
    15 times
    I'm curious how Chase was able to track the orders to your account. I have ordered from Chase pretty regularly (although I am seeing so few silvers now I may stop and go back to CWRs) and they have never taken down my account information when I order. Did the branch manager say that loss prevention noticed increased orders from the branch as a whole and only determined you as the source after inquiry of the branch manager, or did their systems identify you as the source?

    I usually just exchange cash for my orders instead of withdrawing from my account in part of try to prevent tracking of the orders to my account. I'm not sure if it would have helped in this case, depending on how Chase found it.

  11. #11
    us
    Feb 2012
    2,435
    703 times
    All Types Of Treasure Hunting
    As I've said before, you would think the big banks would cater to the last few of us that are willing to stick up for them. They've screwed everyone else, when they start screwing us they can go jump off a cliff

  12. #12
    us
    Jun 2009
    1,512
    6 times
    i have had 4 chases in ny order for me... didnt last longer than a month before cut off

  13. #13
    us
    Apr 2011
    South Dakota
    garrett ads7
    9
    Suspicious activity alert! I bet the homeland security was involved.

  14. #14

    Jul 2011
    51
    3 times
    All Types Of Treasure Hunting
    The bank manage said it was a combination, they noticed the ordered and researched which account required them

  15. #15
    us
    Mr. FreedomUIC to you!

    Jan 2010
    NUNYA
    1,892
    384 times
    All Types Of Treasure Hunting
    JP Morgan just had their first loss since the Obama rescue. Could be a reason why....
    [R.I.P. Rich Hartford - Champion CRH of All Time]

 

 
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