EXCLUSIVE: Chase to Charge Customers Fees For Handing Cash Deposits

Beginning August 1st of this year, JP Morgan & Chase Co. will charge their customers for depositing nochasebankcash into their accounts. According to an internal document sent to account holders, in less than a month from now “the fee for all types of Cash Deposit Processing (CDP) will be $0.25 per $100 [deposited]. The CDP fee will only apply after you exceed your account’s cash deposit limit.”  One reason for Chase to charge their customers a fee on cash deposits may reside in the fact that the major banks are “charging customers who deposit lots of cash.” Wherein Chase is charging customers for every $100 in cash deposited, other banks are charging on every cash deposit of $10,000; or $0.20 on every $100 deposited...more

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