The Finch Formerly Known As Gold

22 November 2006

Paper Chase

Sean Gleeson discovers, to his dismay, that the connection between JPMorgan Chase Bank in New York and JPMorgan Chase Bank, NA, Oklahoma is tenuous indeed:

The Check was drawn on Chase Bank, in New York. But "Chase Bank," in Oklahoma City, refused to honor it! The teller said, "No sir, we canít cash this, itís from the New York Chase Bank."

"But this is Chase Bank, isnít it?"

"Yes, but our system isnít connected with theirs."

Oh. Sure. Makes perfect sense, really. Why would I have thought that the "Chase Bank" system was in any way connected with Chase Bank?

Two observations:

  1. The ATMs do work systemwide; on the other hand, I'd be reluctant to stash a check big enough to be called "The Check" in an ATM, and rather a lot of Chase ATMs don't take deposits anyway.

  2. As their statewide market share suggests, everything's going to BOk.

Oh, there's a Paperless Chase, too.

Posted at 10:43 AM to Common Cents