Since they can’t extract money from our pockets with cascading overdrafts anymore, banks have to get creative. Bradley learned that these indignities add up when the bank deems you insufficiently profitable, and charges a fee on your no-longer-free checking account. Never mind that Bradley is a college student. He doesn’t have a lot of money on hand, and from Chase’s point of view, not nibbling away at his patience and his money now could lead to another 60 years of business from him. Theoretically.

Chase Bank continually reminds me they are a horrible bank for students. This week I was given another example.

I stopped into my Chase branch to deposit my roommate’s rent check. The bank was running a deposit matching gimmick so I signed up. While I chatted with my usual rep, she warned me I would be charged a fee if I didn’t use my debit card five times by the end of the month (in 10 days).

What? It’s a checking account, not a debiting account. I write checks. Checks I paid them dollars for. Also, one reason I am using my debit card less is because this same rep begged me to try their online bill pay service (seriously, she called me for two weeks), and I actually like it so I stopped using my card to pay bills online.

Adding to the insanity, she explained that my direct deposit total for the month wasn’t over $500 which is why the “5 debit” policy was going into effect. I didn’t use my card because I work at my university and didn’t have as much money coming in because we were closed a week for spring break. If I HAD worked, I would have had enough in deposits AND made enough debits. Ridiculous.

So now I either go on a spending spree over the next 10 days with money I don’t have, or pay a penalty to Chase for not earning enough money this month. Sweet deal, Chase.

Bradley

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