I had a really bad experience with Chase Support last week, where essentially an agent really made a meal out of a pretty basic transaction enquiry, and kept me ‘chatting’ for the best part of an hour, asking question after question, and making me jump through 25 hoops, and then not resolving the issue anyway.
Surely an adequately trained and resourced support function should be even more of a first priority in fintech, more than in a ‘normal’ company, and certainly not an afterthought, or an area to save money by cutting costs.
A lot of support centres still seem to be based overseas, or even in the UK, manned by staff whose first language is not English. Although most times the problem is not the language itself, but more one of comprehension. I hate asking a question, and then either getting no answer, or the answer to a completely different question.
Also when the agent does not want to take ownership of an issue. ‘Give it 2 weeks, and if it’s not all come out in the wash, get back to us’ really does not cut it for me, especially if, say, £10k is missing and floating about in cyberspace. Or ‘call back tomorrow’ which is code for ‘I’m on holiday tomorrow’.
Just about a payment that I had inadvertently made from a non-nominated account - due to some institutions only accepting deposits from one strictly defined bank account. Instead of just saying ‘speak to the other party’ (which I had tried), or ‘sorry mate can’t help you’, I had to provide a mountain of detail, including security, and only THEN to be told ‘sorry mate can’t help you’.
The ‘hour’ referred to included periods of 10 minutes where the agent just disappeared, or dealt with something else.
Surely and simply resolved by you, checking the source payment service and being like “oh yeah”, unless the payment came from another non designated account then I’d be confused.
I am aware from previous posts that you do, or used to, work in the banking profession. Most of us do not, so do not have your inside knowledge or familiarity with jargon. What is the ‘source checking service’?
Do you mean did I speak to the receiving party? Yes I tried on the telephone and was on permanent hold. I sent a secure message, and was informed that someone would get back to me in 3 working days. Which is why I contacted Chase in the first place, in the interim.
I know all about suspense accounts and dump accounts, which is precisely why I am keen for mis-directed transactions not to be overlooked, and sit there until the bank grabs it for itself.
I accept that the original mistake was mine, but that does not mean that I write it off, and put it down to experience. My original enquiry of Chase was purely to ask if the payment could be stopped, given that I realised my mistake, and it was only 10 minutes previous. As it was, I got the Spanish Inquisition and no assistance.
Happily, I did arrange a trace with the other party, and the funds have been returned to my Chase account. That does not affect the fact that the Chase response was appalling, and will not be forgotten.
I think, based on what Kissington said, part of the issue wasn’t that they were not able to help him - it was more than it took a long time and a lot of questions for them to then advise them that they couldn’t help.
I would’ve thought if Chase were not going to be able to help out, a very quick 30 sec chat would’ve covered it:
Customer: Hey Chase - I made a payment to an account but they’d only accept it from a designated account, so I paid it from the wrong one.
Chase: If the payment has already been made, it’ll already be with the receiving party - you’ll need to ask them to investigate and return the money if they wont accept it. We can’t get it back.
Customer: Thanks
No need for any identification to be honest - it’s just saying what the actual process is.
Just to clarify - are we all actual Chase customers here?
If you are, you will be aware that Chase ‘pots’ all have separate account numbers. The pots are savings accounts and pay interest, whereas the main current account does not.
Some types of payment can only be made from the current account (at the request of the payee), which can require a prior transfer of funds from savings to current. However, other types of payment do not have to be paid from current, and can be made directly from a savings account.
My point is that it is quite easy to make a payment from the ‘wrong’ account.
I’ve not come across any yet that have had to come specifically from a current account vs a savings account. Has anybody else, and what types of payments? I have a number of credit cards and various other direct debits all paid from a savings account.
Doug_hboy
(Always be alert because the World always needs lerts.)
9068
Being one of Chase’s account holders from its initiation I understood that the current accounts are just that and not savings accounts. The savings accounts do have separate SCNs and account numbers. I do agree there’s nothing worse than not having questions answered and a different question being answered which coincides with a cut & paste from their KB. My experience of all banks is it depends on the agent you get. Some are first class others are poor.
Doesn’t have to specifically come from a current account but because I used a savings account for the DD, Fidelity couldn’t pick it up as my account so I’d to send a bank statement.
Orinoco - I am probably mis-using the term ‘payment’. I am not paying bills - what I really mean is a transfer/deposit of funds from a Chase account in my name, to another (savings) account in my name, held or being opened at another financial institution. Usually for a better interest rate or more favourable terms, or a promotion.
There are definitely many institutions that will only accept deposits from, and withdrawals to, a single nominated bank account. I know that because I deal with them. They may not be mainstream institutions, but neither are they Mickey Mouse, and they are all FSCS covered. I am talking institutions such as OakNorth, Oxbury, RCI, Ford Money, and Secure Trust etc.
Doug_hboy
(Always be alert because the World always needs lerts.)
9074
You’re right & I use them too. It’s a good security feature IMO. If you pay from the wrong account (ie not the designated account) they will return your funds. I can understand being anxious and often anything relating to FPs means your money is in limbo until it goes to the beneficiary account namely you as it’s your savings account.
