Chase clearly trying to confuse with overdraft opt-in
Here is a recent analysis of Chase’s efforts to confuse customers into opting-in to overdraft protection, which provides no real benefit but makes them billions each year. The bottom line is that Chase is purposefully using confusing language, alternating positive/negative language, and scare tactics to get consumers to either opt-in explicitly or by accident. These tactics are a new low for a bank like Chase.
DON’T DO IT. Debit overdraft protection provides you no benefit. If you are out of money in your checking account every purchase will cost you an overdraft fee of $33 or more. Use your credit card instead. For comparison, if you made a $5 charge (a latte) on your credit card and carried it for 5 years at a 30% interest rate, it would still be less than 20 bucks, which is WAY less than a single overdraft fee.
Bad bad Chase, Fees & charges | admin April 14, 2010
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By coakl, January 11, 2011 @ 9:40 am
It’s not evil, just typical bank incompetence. The web page merges two YES/NO questions together when you should be in two clearly divided sections, or better yet, two pages.
This is what happens when you outsource your website design to India. Like portions of Chase’s internal systems, the public website packs in too much stuff on a page. It confuses the hell out of people, both customers and employees. Many, many teller and banker mistakes can be traced to poor page design.