Originally Posted by
UA Fan
Is having a Chase checking or saving still risky?
Originally Posted by
mhdena
Having with normal use, not risky.
Having with MO deposits and Bill Pay, risky.
Chase is very sensitive in Cash deposits. You cannot deposit Cash into any accounts other than you own, and must produce ID at the time of deposit. This is put in place after it has been fined multiple times on non-compliance that even Dimon could not wiggle out of those fines. So now it chooses the overly cautious side. That has also brought about a better outcome that is,
Chase no longer confiscates the points in your accounts should it decides to shut you down. It is the ONLY bank that gives accountholders 30 days to redeem their existing balances should Chase choose to terminate the relationship with the accountholders.
Originally Posted by
junks2010
Can you please explain why "bill pays" are risky? Most of the activities from my Chase checking account are payments for credit card bills and other bills.
He most likely means Bill Pay Chase cards from a NON-financial institution service.