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JPMorgan Chase Bank, Dearborn

Based on 6 reviews
JPMorgan Chase Bank, Dearborn
Reviews (6)

Poor Customer Security

I had a joint checking account with my wife for 33 years at what was Chase Manhattan Bank of NY, now J.P. Morgan Chase. On a Sunday, St. Patrick's day Mar. 17, 2013, an unknown person (Alexis Delaney) opened a joint account via phone/internet using my wife as secondary on that account (opened 3/17/13). How? We don't know. They then, unknown to us, transferred $2000 by phone from our 33 year old joint checking account into this newly formed account using my wife's name in common on both accounts. The newly formed account was then closed. All on Sunday, St. Patrick's day. It did not post until Monday. Chase saw nothing wrong. We never got a text, phone call, email, nor any notification of anything! We discovered the transfer a few days later, and signed documents at our branch to prosecute this person if ever found. A week later, we were credited with the stolen funds. But we had to change checking accounts and everything was a mess. We feel that Chase ignored common sense in allowing this to happen, and later sent us letters from their executive offices blaming us for this! They said it was malware on our computer that hijacked our info and that's how it was stolen. But it's a photo computer (83,000 jpegs) and does not have quicken nor turbotax, nor anything with our personal info on it. Our local police precinct told us it was an insider job as they had 9-12 of the same complaints during a 3 week period. Needless to say, we have lost all confidence in Chase, and closed our 6 figure accounts and transferred everything to a different bank. MB, Brooklyn, NY.  

LACK OF CUSTOMER UNDERSTANDING

My husband is 92 and  Parkinson's patient.  I am 74 currently with a broken ankle, foot.  We live on my husband's government pension and our joint Social Security.  My SS does come in until month's end.  Despite insurance, we still have to pay something for perscription medicines.  They were under 5.  I have overdraft protection. Chase charged me me $34 for items such as $0.64, $1.00. We have direct deposit and always paid the fees. Now they tell me they no longer want my business because of the many problems.

QUALITY OF SERVICE

I had an account in which I deposited cash from rental properties.  Chase chose to close my account and also closed my retirement account and credit card.  They refused to honor the rewards I had earned on the credit card.  I would not recomment Chase to anyone and if you do open an account I would do it with caution.

Unetical Bank

Chase bank is the most unethical bank in USA, even Suzie Ureman rates Chase and Bank America the most unethical banks in USA for 2010 and 2011, they raised my creidit card interest 8 months ago from 8% to 18 %, had cards for 8 years, no late payments, often paid balance off. They said it was the banking climate, that is how the appreciate excellent customers. the bad expereinces go on and on.

Best Credit Card

Not as good as it was when 5% cash back was offered but I still get 3% (gas and supermarkets). This is the best credit card I could find for straight cash back. The statements are decipherable and the checks are mailed out quickly. When I missed a payment by a few days they waived a $39 late fee when I called customer service. No problems with identity theft.

Fraud Protection Could Not Be Worse

My wife's purse was stolen with checkbook. I called the bank immediately and let them know. The next day I went in and closed the account. Later that day, the thief cashed a check from another bank at Chase, endorsing it with the closed account number. Chase cheerfully gave them the money. Then they took the funds from my new account to cover the check and charged me a fee for my closed account not having funds in it.



Health

Data for Q1 2014

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. JPMorgan Chase Bank, Dearborn has a relatively low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 JPMorgan Chase Bank, Dearborn had $0 in non-current loans and owned real-estate with $53.35 million in equity and loan loss allowances on hand to cover it. This gives JPMorgan Chase Bank, Dearborn a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
A+

In the past year, JPMorgan Chase Bank, Dearborn has increased its total deposits by $68,000, resulting in 13.6% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth JPMorgan Chase Bank, Dearborn has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. JPMorgan Chase Bank, Dearborn has $60 million in assets with $53.35 million in equity, resulting in a capitalization level of 88.92%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #21761
Year Established1974
Employees0
Primary RegulatorFED
Assets and Liabilities
Assets$60.00 million
Loans$500,000
Deposits$568,000
Equity Capital$53.35 million
Loan Loss Allowance$0
Real Estate Owned$0
Historic Data - March 2013
Assets$66.59 million
Equity Capital$52.67 million
Loan Loss Allowance$0
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.07%
Return on Assets0.03%
Return on Equity0.04%
Interest Income$10,000
Rates

Sorry, we do not have rate data for JPMorgan Chase Bank, Dearborn

Locations


JPMorgan Chase Bank, Dearborn Locations
Jpmorgan Chase Bank, Dearborn18800 Hubbard DriveDearborn, MI 48126