Friday, October 12, 2012

Chase Overdraft Settlement: Eligibility, Claim and Payment Guide

Are you a Chase bank account holder? Do you know about the Chase Overdraft Fee Class Action Lawsuit Settlement? J.P. Morgan Chase charged debit cards overdraft fees to its deposit accounts by managing the posting order of the transactions. The bank charged the fees by allowing its customers for the purchase to go through in place of refusing the transactions when there were not sufficient funds to cover it. Chase also charged extra overdraft fees by processing the transactions in the order of the highest to the lowest instead in the order that they were conducted. So, the Chase Overdraft Fee Class Action Lawsuit Settlement has been taken in In re: Checking Account Overdraft Litigation and J.P. Morgan Chase have decided to pay a $100 million settlement to its credit card customers.

Lean how to check Eligibility, download & fill form to claim and do payment for Chase Overdraft Fee Class Action Lawsuit Settlement on ChaseOverdraftSettlement.com

Do you know about the overdraft fees? Overdraft fees are the fees, charged by bank when you use your debit card, and you do not have enough money to pay for whatever you are buying. You may be qualified to get some compensation from the Chase Overdraft Fee Class Action Lawsuit Settlement at www.ChaseOverdraftSettlement.com, if you are a Chase bank’s deposit account holder and you had a Chase debit card from January 1, 2003 to March 29, 2010 as well as you were charged overdraft fees plus if you have had charged over one overdraft fee in one day. If you were holders of certain consumer deposit accounts with Bank One (acquired by Chase in 2004), then you will be also eligible to get Settlement Fund payments.

Chase also got deposit accounts of Bank of New York in 2006, and Washington Mutual Bank in September 2008, so if any overdraft fees are charged to those accounts after they become Chase-owned accounts, then this Settlement applies to those accounts. If you had paid overdraft fees as a consequence of Chase posting debit card transactions in order from highest to lowest dollar amount between January 1, 2003 and March 29, 2010, then you will be also eligible to get payments by this Settlement.

You can get payment by two ways such as automatic payments, and by filing a claim form.

Automatic Payments:

If you had all Chase accounts from January 1, 2005 to March 29, 2010, or Chase accounts that were previously BoNY accounts from April 1, 2007 to March 29, 2010, then you can get automatic payments. For getting automatic payments, Chase account holders (from January 1, 2005 to March 29, 2010) need not to do anything; If you still have Chase accounts, then you will get automatic payments as account credits and if you no longer have Chase accounts, then you will get automatic payments as a check. Chase account holders who were previously BoNY account holders (from April 1, 2007 to March 29, 2010) have to ensure that their address is correct on the bank file. If you have changed your address, then you will need to contact the settlement administrator.

File a Claim Form:

Chase account holders in 2003 and 2004, whose precise period was covered from January 1, 2003 to December 31, 2004, should file a claim form. If you had Chase accounts that were BoNY accounts between October 2, 2006 and March 31, 2007, then you can also file a claim form. To file a claim form, download the form from the settlement site, www.ChaseOverdraftSettlement.com. Before downloading the claim form, you need to confirm that the claim form should be postmarked before February 8, 2013. You need to submit documents (account statements) supporting your claim when you are submitting the claim form. You need to upload the claim form on the date of submission if you have made a decision to submit it online.

As you submit the claim form, this form and documents will be analyzed. You will be informed if there are mistakes or if you need to make changes. If you do not correct the requested mistakes, then your claim will be rejected and you will not get anything so it is very important to make proper corrections. If you do not want to be a part of this settlement and do not desire to get any compensation, then you have to send a letter, including your name, address, phone number, account number, and the statement that you want to be excluded from the Chase Settlement in In re: Checking Account Overdraft Litigation, 1:09-MD-2036-JLK, as well as your signature by regular mail before November 5, 2012.

You can contact the Settlement Administrator or visit www.ChaseOverdraftSettlement.com site for getting the contact information, if you are not confident that you are included in the class. If you have any questions about the Settlement, then you can also call the toll free number, 1-877-552-1296. You can mail your question to the Settlement Administrator at info@chaseoverdraftsettlement.com or Chase Overdraft Settlement, P.O. Box 8041, Faribault, MN 55021-9441.

2 comments:

  1. Ok, it's may 16th, I still have not received a check or information from this settlement. I know I will not get back the money that was removed from my account, but tell a person something.

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  2. I recently have been looking into companies that will buy settlements. It's a super confusing topic, but a lot of the online blogs have been helpful, at least. I'm really interested in hearing what other people's experiences have been when it comes to annuity and settlements.

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