Understanding Hidden Fees in Your Chase Bill

If Chase Bank is hiding fees in your bill, you may have legal options.

If Chase customer service won’t fix a problem with your bill, you might be looking for other ideas.  

Did you recently check on your Chase bill only to find hidden fees? Maybe you have looked over your recent checking account or savings account bill end scene unexpected fees for the last few months. Now you want to know why you have these higher fees and what you can do if Chase is charging you more than they should. We explain.

What is Included in Your Chase Bill

Firstly, it’s important to your Chase bill whether you have a checking account, savings account, business account, credit card, or all of the above. Looking over your monthly statement will help you identify what your base monthly charges are such as your checking account fees or transaction fees, and then what hidden fees in your Chase bill should or should not be there.

Hidden Chase Fees

Hidden fees in your Chase bill can take many forms

Monthly service charges

The first fee that you should see is your monthly service fee. This is something that varies in terms of cost depending on the type of account you have. For example, a monthly checking account will typically have a $12 monthly fee if you do not make automatic deposits from your job totaling $500 or more, or maintain a balance of $1,500 at the beginning of every day. People who used their Chase checking account for direct deposit from their place of employment might not have realized that there was a monthly service fee until such time as they stop submitting direct deposits or lose their job. Then these fees can look like hidden fees in your Chase bill that appear out of nowhere.

Overdraft fees

Another hidden fee is associated with overdraft. If you do not have overdraft protection as part of your Chase account, then in situations where you have insufficient funds or your account is overdrawn they charge you a flat fee of $35 on basic checking accounts for every transaction that tries to go through and fails. This gets charged every day that you do not maintain a neutral or positive balance.

For example: Your account gets overdrawn Wednesday night. You don’t realize this so Thursday morning you make a debit card purchase for coffee and you get gas. Both of those get processed later in the day and then get declined. You get charged $35 for the declined coffee and $35 for the declined gas. If you don’t have notifications and you don’t check your account, you are charged $70 for every day that you have a negative balance. This might look like a hidden fee in your Chase bill if you aren’t expecting it.

Chase offers protection for these things, giving you overdraft protection at a monthly fee but, even that simply means you don’t get charged as much. You still get charged around $12 depending on the type of account you have to move money from an associated savings account into your checking account to cover the purchase. So, using the example above, Chase Bank would move money from your savings account into your checking account to cover the cost of the coffee purchase and the gas purchase which means you would be charged $24 for the two separate transactions.

ATM fees

ATM fees are other fees that look like hidden fees in your Chase bill. Chase does not charge for ATM transactions using a Chase bank but if you use a non Chase ATM you get charged $2.50 for every balance inquiry, transfer, or withdrawal you make within the United States. If you are overseas you get charged $5 for every time you use an ATM. What’s more, if you are overseas and you take out cash in a foreign currency, you get charged 3% of the total amount you can withdraw to convert that figure into US dollars. 

What other details do I need to consider when looking for hidden fees in my Chase bill?

You need to consider your billing cycle when looking for hidden fees in your Chase bill. The reason for this is that sometimes you might, for example, use a non Chase ATM on a Friday evening. If your billing cycle ends on Saturday of that same week, the non Chase ATM fee might not get processed until the following Monday morning in which case it will show up on your next bill or statement. Knowing when your statements are generated can help you determine when these items will show up and how to recognize these hidden fees for what they are. 

What can I do if I was incorrectly charged a fee?

If you were incorrectly charged a fee, the first step is to try and contact Chase customer service to get it resolved. But if you have already done that and they still won’t fix your dispute, there are two other legal options:

  1. You can try to sue Chase in small claims court. There is a monetary limit to how much you can sue Chase for in small claims court and not every case qualifies.
  2. You can also use a faster and easier option: consumer arbitration. When you use consumer arbitration there are many more situations that qualify and we can help you get a faster resolution for your dispute. 

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