Online Transfer - Service Fee - $3ea

[edro]

Chase (checking) charges $3 to transfer money to an external account? (ING Savings)

WTF is that? I never noticed this before!

So they would rather me write a paper check and send it to my other bank? (ING)

Dumb...

 

[xanis]

Seems like the same thing as taking money out of another bank's ATM. They are a business out to make money.

Still pretty stupid though.

 

[nace186]

Could you do the other way around? Use ING to take money from Chase account instead?

 

[Miramonti]

If you thought banks scraped before, they are going to be coming from all directions now to scrape as much money from people's accounts as possible. Who better to pay for their ineptitudes than the account holders.

 

[edro]

Originally posted by: nace186
Could you do the other way around? Use ING to take money from Chase account instead?

Ohhh... good idea.
I can try.

They have free bill pay, but to do the Exact same thing, but to a savings account, they charge $3.

 

[erub]

Originally posted by: edro

Originally posted by: nace186
Could you do the other way around? Use ING to take money from Chase account instead?

Ohhh... good idea.
I can try.

They have free bill pay, but to do the Exact same thing, but to a savings account, they charge $3.

Thats how I do it. No fee on either side.

 

[acheron]

If I want to make an extra mortgage payment to Washington Mutual (which is now also Chase), I can do it online but they charge $12. I can mail them a check for, well, however much a stamp costs now. Stupid.

 

[Elganja]

Originally posted by: edro
Chase (checking) charges $3 to transfer money to an external account? (ING Savings)

WTF is that? I never noticed this before!

So they would rather me write a paper check and send it to my other bank? (ING)

Dumb...

Bank of America does the same thing... annoying as hell.

I do what others have mentioned, use bill pay to pay myself

 

[aolj]

I just use ING to get it out of Chase. It's kind of silly with the $3 charge.

 

[xochi]

I have a Chase checking account and make at least 3 deposits to ING per month and have not seen these fees.

 

[LordMorpheus]

(recent college grad disclaimer)

I have been meaning to get a credit card for a while to build some credit - I've just been using my debit card everywhere, but it's much safer to use a credit card.

I looked at the offer from Chase (for a southwest airlines visa) and it was awful.

I wound up just doing a capital one build-your-own.

All I really cared about was the no yearly fee, as I don't plan on keeping a balance on it, and no bogus charges (transaction rates were much less than with Chase).

Chase also has a 3% charge on any international uses.

 

[CPA]

Are you doing the transfer from Chase's website or from ING's? I've never had Chase charge me when I initiate a transfer from ING's website.

 

[ric1287]

Originally posted by: CPA
Are you doing the transfer from Chase's website or from ING's? I've never had Chase charge me when I initiate a transfer from ING's website.

are those "ACH" charges or whatever? I put a halt on setting up my ING savings because I could not find any information on what/if Chase charges. If there is no fee to pull from Chase via ING, I may have to redo it.

 

[rh71]

Just did it from Wamu online savings to HSBC online savings... no fees. What it did cost was 5 business days though. :thumbsdown:

 

[edro]

Originally posted by: CPA
Are you doing the transfer from Chase's website or from ING's? I've never had Chase charge me when I initiate a transfer from ING's website.

I did it from Chase's site, which costs $3.
It is free from ING's site.

It makes zero sense.

I emailed Chase and bitched at them for their scam.
I'll post the reply from them when I get it.

 

[rh71]

Are you sure it wasn't stated somewhere just before you hit submit? Even on HSBC's site where it's free they state $0 for the transaction.

 

[dainthomas]

Originally posted by: edro

Originally posted by: CPA
Are you doing the transfer from Chase's website or from ING's? I've never had Chase charge me when I initiate a transfer from ING's website.

I did it from Chase's site, which costs $3.
It is free from ING's site.

It makes zero sense.

I emailed Chase and bitched at them for their scam.
I'll post the reply from them when I get it.

Are you really going to post their reply when they tell you to stuff it?

 

[Capt Caveman]

I have ING, Chase and BoA accounts and I don't get charged anything to transfer money to one another.

 

[edro]

Originally posted by: Capt Caveman
I have ING, Chase and BoA accounts and I don't get charged anything to transfer money to one another.

I suggest you try to send money to your ING account, from your Chase account website.

Originally posted by: dainthomas

Originally posted by: edro

Originally posted by: CPA
Are you doing the transfer from Chase's website or from ING's? I've never had Chase charge me when I initiate a transfer from ING's website.

I did it from Chase's site, which costs $3.
It is free from ING's site.

It makes zero sense.

I emailed Chase and bitched at them for their scam.
I'll post the reply from them when I get it.

Are you really going to post their reply when they tell you to stuff it?

To serve as a warning to others, yes.

 

[LS8]

Originally posted by: edro
Chase (checking) charges $3 to transfer money to an external account? (ING Savings)

WTF is that? I never noticed this before!

So they would rather me write a paper check and send it to my other bank? (ING)

Dumb...

So your bank should eat the cost of the transaction?

The bank is providing a service for you and services cost money.

 

[Capt Caveman]

Originally posted by: edro

Originally posted by: Capt Caveman
I have ING, Chase and BoA accounts and I don't get charged anything to transfer money to one another.

I suggest you try to send money to your ING account, from your Chase account website.

I did last week and no fee.

From Chase's Account Transfer Services Agreement:

External Transfer Service Fees

We do not charge any fees for making External Transfers to your accounts held by us. A fee of $3.00 will be charged to the From Account for each transfer you make from us to your External Account on the Business Day following the Send On date. This fee will be waived for Chase Plus Checking, Premier Platinum, Private Wealth Management, Private Banking, and Home Equity Line of Credit customers.

 

[child of wonder]

Chase is going down.

I had a CC with them and did a balance xfer at 3.99% for the life of the loan and used it to pay off a 9% car loan I got in college and to finish our basement. This month they raised the minimum payment from 2% to 5% (not a big deal as we were paying 5% or more anyway) and began assessing a $10 per month finance charge applied to the purchase APR. We had never missed a single payment and our credit is awesome.

Our only options were to close the account and pay the balance in full, take a new 7.99% APR and have the minimum payment reduced to 2%, or leave things as is.

We paid it off and closed the account. There is a class action lawsuit against them for changing the terms of the loan like this and I'm sure they'll lose their asses in a settlement.

 

[dullard]

Originally posted by: LS8
So your bank should eat the cost of the transaction?

The bank is providing a service for you and services cost money.

Exactly. You are asking a person at a bank to write a check for you and to mail it to another entity for you. These two tasks cost money in supplies and in labor. Why should Chase do it for free?

Either (A) do it for yourself, (B) sign up for one of their packages where your fees are waived, or (C) go to the bank RECEIVING the money to do it. The bank that receives the money does it for free since they want your money.

Same goes for all bills. Banks charge to pay your bills for you unless you sign up for one of their packages. But if you go to the recipient of your money, they will virtually always do it for free. For example, go to your electric company (or gas, or cable, or whatever) and have them do a withdrawl.

 

[SagaLore]

Just wait until they start charging you just for logging in.

 

[edro]

Originally posted by: dullard

Originally posted by: LS8
So your bank should eat the cost of the transaction?

The bank is providing a service for you and services cost money.

Exactly. You are asking a person at a bank to write a check for you and to mail it to another entity for you. These two tasks cost money in supplies and in labor. Why should Chase do it for free?

Either (A) do it for yourself, (B) sign up for one of their packages where your fees are waived, or (C) go to the bank RECEIVING the money to do it. The bank that receives the money does it for free since they want your money.

Same goes for all bills. Banks charge to pay your bills for you unless you sign up for one of their packages. But if you go to the recipient of your money, they will virtually always do it for free. For example, go to your electric company (or gas, or cable, or whatever) and have them do a withdrawl.

You both fail.

Bill Pay is FREE.
A transfer to another bank account is the exact same thing as Bill Pay (transfer to another "account").

They have this fee to force you to have your savings account under the Chase umbrella.

It's fine... I will delete my newly added accounts (from the Chase site, so I don't make the same mistake again) and pull the money from Chase via the ING website from now on.