mandeeuk

J.P. Morgan Chase and Co.

270 Park Ave.
New York, NY 10017-2014
United States

* * * * * * * * * * COMMUNICATIONS * * * * * * * * * *
TELEPHONE: (212) 270-6000
FAX: (212)270-2613
URL: www.jpmorganchase.com

* * * * * * * * * * COMPANY IDENTIFIERS * * * * * * * * * *
TICKER: JPM
GALE COMPANY NO: 0000788618

* * * * * * * * * * COMPANY INFORMATION * * * * * * * * * *
INCORPORATION DATE: January, 2000
LEGAL STATUS: Public Company, Headquarters Location
EMPLOYEES: 168,847 (Company Press Release)

* * * * * * * * * * EXECUTIVES * * * * * * * * * *OFFICERS

NAME TITLE POSITION
James Dimon Chief Executive Officer Chief Executive Officer
Dina Dublon Chief Financial Officer Chief Financial Officer


OTHER EXECUTIVES

NAME TITLE POSITION
Frederick W. Hill Chief Marketing Officer Head of Marketing, Sales
Austin A. Adams Chief Technical Officer Head of MIS, Systems
John F. Bradley Director of Human Resources Personnel Director
Joselph L. Scalfani Controller -
Mariano Bengoechea Vice President -
Jamie Dimon President and Chief Operating Officer -
Jim Boshart Vice President -
Jimmy Lee Vice Chairman of the Board -
Rick Lazio Executive Vice President -
Michael Cavanagh Vice President -
Michael Sereno Vice President -
Anthony J. Horan Secretary -
David B. Edelson Treasurer -
Donald H. Layton Vice Chairman of the Board -
William H. McDavid Head of Legal Department

Vicky88

Were your instructions in writing or verbal?

If they were in writing, their actions have effectively breached the terms of the contract between you and the bank and they would be liable to rectify the situation.

I had a similar problem, except for once it went in my favour. I went to Wells Fargo to do an international funds transfer. They sold me Aussie$'s at the buy rate, which meant of course I made out like a bandit. 2 days later they called me to tell me about the mistake and that they would be taking the additional funds from my account. I told them they would not be as we had a contract and they were legally obliged to stick by it. She said she had to check with the legal department and would call me back. 5 minutes later the stupid bint called my husband to try and get him to agree to it. Luckily he knows better and told her she would have to call me and get approval. Needless to say they did not get their money.

Once a contract is written and signed, both parties are obliged to abide by the terms.

Big D

subject to applicable laws of course!

Jerseygirl

I faxed a written transfer form, signed by myself to the bank for $4K to be transferred. Clearly stating 'US Dollars $4,000.00' and they sent 4K pounds almost $8K.

What is REALLY annoying is the manager said that although the bank sent the money to the UK in error it was still in my possesion ie from my US account to my UK account. Words fail me they really do.

snowbunny

Start using the words "deceptive trade practice."

lee_in_nj

as much as i'd like to see you win, you wont. i've been jipped out of money by so many big companies..and never got a penny back. to be honest if you did pursue it the legal fees would end up costing more than what you're owed..so unless you want to do it purely out of principle.. i wouldnt bother. things like the BBB etc are all good in theory but ive never had them succesfully come through for me in 2 or 3 tries. you'll find most of the bigger companies have enough small text disclaimers in all their policies and agreements and a big enough legal backing to make sure they dont have to pay in most of these cases. good luck all the same.

Big D

I would keep trying - if you escalate it to the right people then you should get success as a gesture of good will despite any small print they might have!

I have had success from the BBB but i accept that its not the best medium in the world and that other have not had success. Don't give in!!!

Vicky88

First thing you have to do is put your complaint in writing to the branch manager plus send a copy of it to the Chairman of the company. Detail what you requested, what they did and the financial impact of their actions. Set out exactly how you expect them to compensate you. Send the letter by some form where it has to be signed for so they can not deny knowing about your situation. Note all conversations in your diary, date, time who it was with and what was discussed. These types of notes always help when it comes to legal action.

What they count on in these types of situation is that you will get tired of dealing with the issue and give up, allowing them to win even though they are 100% at fault.

You may not win, but remember sometimes it is the squeaky wheel that gets the outcome desired.

Last resort could be take them to small claims court which I believe can be done without lawyers and at little cost. Then again, there is always Judge Judy.

mandeeuk

Draft a letter to your bank manager and cc corporate headquarters and the U.S. Department of Treasury Office of Thrift Supervision. I'm not certain, but I believe the Electronic Funds Transfer Act (EFTA) covers this sort of transaction. Tell them that they breached EFTA and were negligent in the performance of their duties despite your express written instructions. Also, mention that despite your attempts to resolve this informally and retrieve the consequential damages you are owed in the amount of $263, customer service has failed you and you have been forced to file a complaint with the OTS. Then file a complaint following this guideline http://www.ots.treas.gov/docs/4/48780.html

Jerseygirl

I will not give in, its not in my nature to do so. It is entirely their fault and there is no way I am going to be out of pocket because of the incompetency.

RoadWarriorFromLP

As a preface, you should know that no lawyer will take your case, so contacting one won't help. A complaint to the BBB might be fun, but on the whole, it's pretty useless, and might help only if you feel better for having done it.

What I'm about to tell you will work like a charm with any customer service problem that can't be resolved through normal channels:

Firstly, I would try just once more to resolve it with the regular customer service. No, it won't probably work, but it gives you leverage when you can tell the next person you call (I'll get to that in a moment) that you spoke to so-and-so and couldn't get any resolution. Important: Be sure that you get the name of the customer service person (preferably before it becomes a pissing contest) so that you can reference this person during your next step.

Next, contact one of the executive officers of the company. (#16 above posted a list; otherwise, for any public company, you should be able to get this from Yahoo Finance, the company website or other sources.)

I would suggest that you NOT contact the CEO -- it's too difficult to get through to his/her office, and your real objective at this stage isn't to actually speak to them. Instead, choose anyone else on the list, it really doesn't matter who it is. Phone them up, and try to work your way through the phone system to locate that person's secretary.

Once you've found this person's admin, begin by getting his/her name. Then in a calm but determined voice, tell the assistant something like this: "Hi, I'm hoping that you can help me. I've had a horrendous experience with your customer service department, and I've about given up working with them. So before I start resort to phoning _____ (name of officer), _____ (name of another officer) and every other executive and member of the Board of Directors to complain about this, I would appreciate it if you could direct me to someone outside of Customer Service who can help me." (If you reach the actual executive -- unlikely -- then modify this speech accordingly.)

At this point, you will likely be asked for your contact details. Be prepared thereafter to get a call from someone in a special complaints department that won't be labelled as such. (My guess is that it will be called "The President's Office" or "The Office of the President.") Explain to this person your problem,and have a reasonable resolution in mind to match.

My guess is that if you address them politely but firmly, and your problem is reasonably legitimate that you will quite promptly get a full refund, plus something extra for your trouble.

By the way, this method is highly effective, but don't resort to it for every run-of-the-mill problem. Save it for situations like this, where the service has been extremely rude, you have lost a fair bit of money or promises haven't been kept. But for this sort of situation, it is ideal.

Good luck.

Jerseygirl

Just wanted to thank everyone for taking the time and trouble to read and reply to my thread.

I have e-mailed the consumer investigations dept of the New York TV network news companies. My husband suggested I write to the Head of JPMorgan Chase Legal Dept. as they are required to open a file, keeping detailed notes and to act on all complaints. My letter, plus a copy of the original wire transfer form will be mailed tomorrow, I will of course obtain proof of receipt of the letter.

Any further suggestions will be gratefully received. Thanks again.

RoadWarriorFromLP

I would suggest that you not do this, unless you find that the method I've suggested doesn't work.

Here's why: In situations like this, the last person with whom you want to negotiate is an attorney. Attorneys are generally quite quick to resort to quoting legalese and chapter-and-verse, rather than viewing your problem as as a customer service/ damage control issue that can be easily resolved by making the customer happy (i.e. making the customer go away with a cash payment and an apology.)

Unlike the uber-complaints department, whose job it is to shield the execs from getting your annoying phone calls, an attorney couldn't care less if you are happy or not, unless you have the power to litigate or bring state power to bear, which you likely do not. Accordingly, your case will likely get very little of the legal department's attention.

At this stage of the game, the issue at hand isn't whether your agreement or the law was violated, but whether someone with genuine customer service skills (not the grunts in the call center who make a few pennies above minimum wage) can make you happy enough to leave the bigwigs alone and turn you back into a satisfied customer.

The beauty of the go-to-the-top method is that you are one of a very small number of people who ever think to do this, while most people with serious issues get stuck in the customer service quagmire and whinge about it without ever escalating things to a level where they can actually get results. (Think of Customer "Service" as a distraction ploy, meant to keep you from bothering the people who really count.)

The "President's Office" is designed to cope with the very few who figure out the system, and to make them go away as quickly as possible. You will get good results if (a) you aren't rude, (b) you are more-or-less in the right (even if not in a strict contractual sense), and (c) you are amenable to a reasonable solution, i.e. one that includes reimbursing you and perhaps giving you a bit more. Going legal is going to put things into a realm that you're better off avoiding if you can.

Jerseygirl

Thank you. Advice taken I shall give it a try tomorrow. Karma sent.

RoadWarriorFromLP

Best of luck, I've PM'd you with a bit more.