Chase is closing my account

[crhstreetwalker]

Went to withdraw money a couple days ago from a Chase that I never use to buy some silver off craigslist. With an attitude, the teller says there is a restriction on my account and it is froze. I have to wait 30 minutes in an unpleasant Chase bank lobby, one that I never go to, to speak to a snobby banker, as I can't withdraw any of my money. He proceeds to "call" to see what is going on. All he can tell me is that my account is scheduled to close in 10 business days, the bank is "terminating" their "relationship" with me, and that something "suspicious" has happened flagging my account to be closed. He then makes me withdraw all of my money from the account ($500 and change at the time,) gives me a phone number to call for further explanation, but insures me they won't tell me anything, and sends me packing. What The .I've had no time to call to see what is going on as I've been extremely busy. I call the number, and the wait time to speak to someone is, get this, 45 minutes! I hang up and figure I'll call tomorrow (today.) I call today, and they say the suspicious deposits and withdrawals are the reason for my account being closed. Here's the problem, there AREN'T any suspicous deposits or withdrawals, I simply use my account like anyone would use their checking account! Chase bank accounts for 90% of my half pickups, and only about half of them are "referenced" to my checking account, as I exchange coins for cash. I then ask to speak to their manager as they are of no help. The next person on the phone says the same thing, so I again ask to speak to their manager as well. FINALLY the 3rd person up the ladder tells me that I need to have any Chase bank manager, and only a manager, send an email requesting "compliance" to see why exactly my account is being closed, and to ask to keep my account open. I will be going in tomorrow to do this. This person also explains that I could be a possible "threat" to the bank, and that is part of the reason too. That's all she can tell me, she proudly says. Funny, right? Me a threat to Chase Bank? Thank god I have a Chase credit card that they referenced my halves to, or they would not have given them to me. I simply couldn't see how this would be related to me ordering boxes from Chase. I have no idea why this is happening at all. Welcome to mega banking with the elitist banksters.

 

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[canaboy123]

*scrambles for phone*

https://www.federalreserveconsumerhelp.gov/complaint/formComplaint.cfm?

 

[Swade2K]

I had a Chase teller recently inform me that my account activity was excessiveand made me wait 10 mins to verify my account when picking up halves. I wonder if I'll be next?

 

[Senor]

*scrambles for phone*

https://www.federalreserveconsumerhelp.gov/complaint/formComplaint.cfm?

Don't forget the OCC as well.

 

[SilverForBrains]

consider yourself in a war, CRHSW vs. CHASE. I hope you win dude, don't let the fascists win. Keep on keepin' on, it'll be worth it despite your busy schedule to win this one, and we will all consider it a victory for us CRHs. You represent us all in this one. We all back you

 

[ArkieBassMan]

Sorry that you may lose your account and most of your pickup banks. That has to suck.

But as far as complaining to any government ageny as others have suggested, I'm not sure you have anything to complain about. I don't see how any laws could have been broken. They gave you the money in your account. I would think that a bank has the right to decide to no longer do business with you at any time and for any reason they wish. Just like you always have the right to close your account and go elsewhere for your banking needs for whatever reason.

At any rate, I would definitely have to have an in-person talk with a manager about it, as you are going to do. Good luck!

 

[Easy]

That sucks man. Keep us updated. Honestly though I can't think of a reasons bank couldn't close your account without reason. Most business is at will. I'm sure the fine print on your account doesn't give you many rights. That's how it is at my work. Every contract states that it may be terminated at any time without reason.

 

[SilverForBrains]

That sucks man. Keep us updated. Honestly though I can't think of a reasons bank couldn't close your account without reason. Most business is at will. I'm sure the fine print on your account doesn't give you many rights. That's how it is at my work. Every contract states that it may be terminated at any time without reason.

post 666

 

[thripp]

That's awful, without the checking account you don't get the 10 points + 10% bonus on your Chase credit card either. I would send them a letter or email requesting your account to be reinstated, or just try opening a new account online maybe.

 

[namster]

The noose tightens...

How many boxes/week were you getting from chase?

 

[namster]

I have noticed some cracks in the facade in my area as well. I wonder if the recent uptick in silver price has increased CRHing activity.

 

[crhstreetwalker]

The noose tightens...

How many boxes/week were you getting from chase?

Two weeks ago and prior, anywhere from 60 to 80, sometimes 90. These last two weeks, half of that, as I've found absolutely nothing in silver finds. Like I mentioned in a post not too long ago, it's been WW3 for my CRHing career lately. I'm at the point where I'm planning on getting skunked with my 22 boxes tomorrow, that's how bad it is. And I'm paying the dump fee and paying for my own bags. It might be time to call it quits here pretty soon, we'll see. Edit: And on top of all the expense for no silver, all of the hassle my banks are giving me, gas is now over $5 a gallon, and is expected to go to $6 a gallon in the next week. At least in my neck of the woods anyway. Thanks Ben!

 

[canaboy123]

Thanks Ben!

No.

 

[AnnieF]

I think it's the number of transactions. Above a certain number they suspect drug activity. I'm pretty sure it's because all the drug dealers know that any transaction above $10,000 automatically is referred to the Feds, therefore, when there are a number of smaller transactions that add up to that amount in a month, they get suspicious...

I've also noticed this with transfers between accounts (not related to the $10k limit). We have "teenager" bank accounts for our three daughters where we can see everyone's activity but they can only check their own (it's cool!) and we set up weekly allowance deposits to each kid and got flagged for too many transfers so I had to just double the amount and do it every other week. It's STUPID, but that's the world we live in, I guess... Hopefully we can get the Nanny state to back off of us soon

 

[Silver89]

Sorry to hear about your account, my advice would be if you ever get your account open again I would keep most of my funds for CRH in a seperate bank and only pay for halves with cash and never as a withdrawal. You see when we at chase do a currency change order we put the amounts in the system through your account. If you pay and cash and just show that your an account holder their isn't really any trail for them to see. Just thought I would quickly chime in.

 

[SeaninNH]

60, 80 and 90 boxes of halves a week and you wonder why they are closing your account??

Don't take this as an attack because it's not, but people like you are ruining CRHing for the rest of us....

That's just an unrealistic amount to expect a bank to supply for you.

 

[projJakarta]

Long Ag is JMP enemy. You're in conflict of their interest. Don't waste your energy to fight on this. Move your account to different banks that accomodate the hobby.

 

[bigscores]

60, 80 and 90 boxes of halves a week and you wonder why they are closing your account??

Don't take this as an attack because it's not, but people like you are ruining CRHing for the rest of us....

That's just an unrealistic amount to expect a bank to supply for you.

Someone knows what's up... spread it out, I use 5 different banks to supply my boxes.

 

[db23]

I knew this sounded familiar...

http://www.treasurenet.com/forums/c...y-warning-do-not-order-more-than-2-boxes.html

 

[CC-Hunter]

I agree with Sean - streetwalkers box numbers from one branch (even one bank) are huge, too huge. Even if the tons of cash transactions alone were not suspicious to the bank (but it appears they were), it's got to be a pain for banks to order that many coins, especially if they were halves, which I doubt any actual merchants are requesting these days. On top of that, I assume the bank was not making any money off the coin orders (and potentially losing money paying its courier companies to deliver boxes). Since streetwalker paid for 90% of the coins by exchanging cash on hand for them, the bank wasn't even getting the benefit of having that money run through its accounts. In sum, the bank is a business and streetwalker's business wasn't worth the compliance risk and/or the hassle of dealing with a lot of orders. Banks aren't public untilities that have to serve us.

I really think people need to keep orders and dumps under the radar better unless they have a clear understanding with their bank about what they're doing. I dumped a small amount of halves ($100) the other day at a new dump bank, just to check out their machine and the overall process. The people at the bank were very nice but also chatty and wanted to help me with the machine, etc. I went back this morning to dump a larger amount (a little over $300) and they were nice again but two asked me how long it took to collect those coins, etc. A manager who was there on my first visit but did not see me dump the coins this morning came out of her office, saw me in the teller line and said "you're the guy with the coins". I would love to dump a lot at this bank because I have had trouble finding other places to dump. However, I will keep my volume low and my visits spread out. The last thing any of us needs is to lose sources for rolls or places for dumps.