It’s probably more them not wanting to “fail” their security checks and their boss be down their neck. even though they most definitely would have understood what’s happened in error.
I see both sides, but doesn’t make it any less stupid for sure.
You could call Chase and adjust the address, then request the complaints handler to call back.
They really don’t showcase any reliability do they? Following your experience showing how much downhill their CS has become, the article below, and also having had transfers in between my own accounts held twice, I think it’s time my emergency fund is shifted away from them. The little extra interest just isn’t worth losing peace of mind over.
Thanks Carl. They were delayed but were processed in the end, but the fact it happened twice is worth warning those who are planning to leave significant amount with them.
I also thought banks got things like your salary a day earlier so that they can do all the screening stuff in advance anyway? That’s how Monzo and Revolut actually pay your salary a day early because they’re confident their screening process can complete it quicker adn so as soon as it’s cleared that, they give you your money.
What’s happening with Monzo get paid early is they get a list of all upcoming BACS Direct Credits into customer accounts. As soon as they get this info, they show it as an upcoming credit into your account.
However, this information can change up until around 4pm the day before. Once it’s 4pm, Monzo can say with high certainty that this money is going to arrive. So they effectively give you an advance on your money, using their own float.
It’s not to do with pre-screening the payment. At the point of doing get paid early, Monzo could still choose to flag the payment for further review.
And that’s only if they use 3 day BACS. I’m seeing more and more employers use faster payments to send salaries as it reduces their payroll cycle length and doesn’t cost that much more