Chase Penalizes Customers For Saving Money Too Long

Savings accounts, they’re where you save money. You put money in and leave it there. That’s the whole point, right? Well, at Chase, if don’t deposit or withdraw money into it for 3 months, it becomes “inactive,” blogs Tom Drapeau. That means you can’t make a wire transfer out of it. Annoying, but you can change to “active” by depositing or withdrawing money, and if you want to avoid “inactive” status, you could set up an automated transfer to put in $1 and take out $1 of it.

It could be worth the trouble, because if you let it “over ferment,” the account could get classified as “dormant,” and then the money magically disappears and goes to the state. We’ve heard some pretty asinine bank policies, but labeling an account as inactive after only 3 months definitely takes the ass cake.

Say what, Chase? [] (Thanks to Eliot!)
(Photo: GearBits)