Errors in Bank’s Favor

This is the first post in this blog. Let’s begin with something that’s universal, obvious and disturbing.

Have you ever noticed how mistakes always work to benefit the bank and not the customer? And have you noticed just how many mistakes occur? 

Chase Bank has been chasing me for a payment. Given the magnitude of their threat, I immediately called them and gave them payment by phone. I read the number directly off of the check, and repeated it. I was careful because I couldn’t afford a mistake. A week later, they claimed the account number given was wrong. Banks, of course, make more money from mistakes like this. So, there is zero incentive to prevent or acknowledge mistakes. Not their problem, they simply say. This is one of the “beauties” of the banking system. Banks can make unlimited quantities of mistakes, and the client must pay for the bank’s mistake. 

Have you had any experience with bank errors that hurt you, and that they refused to correct? Share your banking horror story. 

Category: Chase Bank, banking errors, predatory banking