ECON JP Morgan Chase Withdrawal Procedures and Limitations

T

txtr8r

Inactive
JP Morgan Chase November Important Account Information.

We are making some changes that affect your Chase checking,
savings and Certificate of Deposit (CD) accounts. All other terms
and conditions of your Deposit Account Agreement still apply.
Please call us at 1-800-935-9935 or visit any Chase branch if you
have questions about these changes.

4. A new sentence is added to the end of the first paragraph of
the section entitled Withdrawal Procedures and Limitations;
as follows:
If you request to withdraw large amounts in cash, we may place
reasonable restrictions on the time and method of your
withdrawal and may require that you sign a document releasing
us from any liability in case you are robbed or assaulted.We may
refuse the withdrawal if you do not agree with these conditions.
 
P

Publius

On TB every waking moment
txtr8r said:
JP Morgan Chase November Important Account Information.

We are making some changes that affect your Chase checking,
savings and Certificate of Deposit (CD) accounts. All other terms
and conditions of your Deposit Account Agreement still apply.
Please call us at 1-800-935-9935 or visit any Chase branch if you
have questions about these changes.

4. A new sentence is added to the end of the first paragraph of
the section entitled Withdrawal Procedures and Limitations;
as follows:
If you request to withdraw large amounts in cash, we may place
reasonable restrictions on the time and method of your
withdrawal and may require that you sign a document releasing
us from any liability in case you are robbed or assaulted.We may
refuse the withdrawal if you do not agree with these conditions.
Click to expand...

Sounds like that have people waiting to rob you after you withdraw large amounts of cash and I have know of this happening! some how a would robber knew just who to go after on the street and made off with a lot of cash. Note I'm recalling events from the last two years.
 
F

fredkc

Retired Class Clown
goatlady2 said:
How can they REFUSE to return YOUR money upon your request???
Click to expand...

Um..... you voted for them, but they bought the people in government.

J P Morgan, including their derivatives portfolio is upside down about 700:1

JPM probably has so many strings tied to Paulson & Bernake, they could probably sell Rhode Island or California to the Saudis, and they'd both approve it. On a weekend, of course ;)
 
P

Possible Impact

Inactive
txtr8r said:
JP Morgan Chase November Important Account Information.

We are making some changes that affect your Chase checking,
savings and Certificate of Deposit (CD) accounts. All other terms
and conditions of your Deposit Account Agreement still apply.
Please call us at 1-800-935-9935 or visit any Chase branch if you
have questions about these changes.

4. A new sentence is added to the end of the first paragraph of
the section entitled Withdrawal Procedures and Limitations;
as follows:
If you request to withdraw large amounts in cash, we may place
reasonable restrictions on the time and method of your
withdrawal and may require that you sign a document releasing
us from any liability in case you are robbed or assaulted.We may
refuse the withdrawal if you do not agree with these conditions.
Click to expand...


Ummm, this will force you to "roll over" the CD. No more rate shopping, or
cashing out your money from the CD.

Time and Method is tricky also, they could just give you a cashiers check.
Good luck cashing it anywhere.


This is a good strategy for greatly limiting a bank run.
Argentina here we come...
 
I

ichoric

Senior Member
Where did you get that notice? (Snail mail, online when signing in, webpage..?)

I'm a "WaMu/Chase" member, and I haven't got anything like that...

Maybe everyone with significant sums of money already pulled it out of WaMu labeled accounts so they aren't going to bother sending it to shmucks with $100 in their checking. =)
 
Cascadians

Cascadians

Leska Emerald Adams
It's not gonna bother us. Home repairs are wiping out our bank account. Needing a new roof does that ...
 
Sky

Sky

Inactive
Cascadians said:
It's not gonna bother us. Home repairs are wiping out our bank account. Needing a new roof does that ...
Click to expand...

Same here... flat roof with multiple leaks. Stripping off now hope the weather holds.

I am a WaMu customer hadn't seen this notice yet. :shr:
 
Cascadians

Cascadians

Leska Emerald Adams
Sky ... oh dear ... been reading up on roofs ... the shallower the pitch, the more leaks ... this is not the right time of year to be scraping it all off and putting a new roof on! Good luck. We have to do the same thing.
 
S

SteverNV

Deceased
ichoric said:
Where did you get that notice? (Snail mail, online when signing in, webpage..?)

I'm a "WaMu/Chase" member, and I haven't got anything like that...

Maybe everyone with significant sums of money already pulled it out of WaMu labeled accounts so they aren't going to bother sending it to shmucks with $100 in their checking. =)
Click to expand...

I got a letter from WaMu yesterday telling me that if I opened a free checking account they'd give me $100!! It must be nice to be able to give away free money right after you've gone bust.
 
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