Complaint / review text:
We wanted to move a large sum of money from a savings account (not Chase) to our Chase checking account to then move it to our stock account. After depositing the check Chase put a 10 day hold on the check because they wanted to make sure the other bank clears the check. I fully understand that they don't want to take the risk of a bounced check for that amount, but after the amount was already debited from the savings account the hold was still in place on Chase's end. I had to call several times to release the money which finally succeeded after Chase contacted the other bank and received confirmation from them.
Then the next day I set up a wire transfer to wire the money out to the stock account and about 15 minutes later I received a phone call from Chase that they were going to put a hold on the transfer for another 10 days. After being forwarded between different departments and wasting another hour or so on the phone they wouldn't budge, because of some weird policy stating that the amount has to remain in the account for at least 10 days. So the amount shows up on our available balance but I can't decide to do whatever the hell I want to with our own money? Apparently not as Chase insists on hijacking our money. So basically I have to pay $25 for a wire transfer while Chase is accumulating interest on our money for an additional 10 days. This is just wrong and I wonder if it's even legal.