Product: Money transfer, virtual currency, or money service

TRANSFER OF FUNDS FROM XXXX TO JP MORGAN CHASE, XXXX. 

XX/XX/XXXX - I decided to close my account with XXXX in the XXXX and transfer the funds to my JP Morgan Chase account in the XXXX. The balance in my account was XXXX I called XXXX and asked what exchange rate they would give me and they said {$1.00} = XXXX. The spot rate at the time was {$1.00} = XXXX. I then called Chase Bank customer service and spoke to agent XXXX at XXXX. I asked her the same question and she told me {$1.00} = XXXX. I confirmed that I would get the spot rate and she said yes. 

XX/XX/XXXX - I initiated the transfer in UK for conversion in the US. 

XX/XX/XXXX - the funds were credited to my account in the sum of {$41000.00}, which represented an exchange rate of {$1.00} = XXXX. The monetary difference between the rate that I was quoted by XXXX and the actual rate used was {$980.00}. 

XX/XX/XXXX - I made several phone calls to customer service to try and resolve the issue but got nowhere. XXXX of the agents even transferred me to XXXX  XXXX XXXX! I then went to my local branch in XXXX XXXX, CA and met with XXXX XXXX. XXXX told me that the funds were converted into US dollars in the UK which was incorrect. I think he was trying to shift the blame onto XXXX. XXXX then contacted the Branch Complaint Escalation XXXX and I was told that I would get a call within XXXX hours. 

XX/XX/XXXX thru XX/XX/XXXX - I had not heard from the Complaints Group so I called XXXX XXXX times. He did not pick up the phone and there is no ability to leave a voicemail. 

XX/XX/XXXX Finally, I got a call from XXXX XXXX in the Complaints Group and I explained everything, including the exact time and day that I had spoken to XXXX, the agent who told me that I would get the spot rate. She told me that she needed some time to investigate. I spoke to her again a few days later and I asked her if she had found the recording of the phone call with XXXX. She confirmed that she had found the recording and had listened to it. I heard nothing further from XXXX before I left on a XXXX trip to XXXX at XXXX end of XXXX. 

XX/XX/XXXX - A secure message was sent by XXXX XXXX XXXX Chase app saying they had been unable to contact me and that if I still wanted to speak to her that I should call her phone number and quote the case number that was assigned. 

XX/XX/XXXX thru XX/XX/XXXX - I left XXXX voicemail messages for XXXX but none of my calls were returned. 

XX/XX/XXXX Fortunately, I found a general number for the Branch Complaint Escalation Group and left a message for someone to call me back. 

XX/XX/XXXX I did not get a call back, so I left another voicemail message on the general line and later that day XXXX called me back. I again explained everything that had happened and gave her the case number. I asked if XXXX had left the Bank and, after checking, XXXX told me that she still worked at Chase. I asked why she had not returned any of my calls, but she did not know why. XXXX said she would investigate my case and get back to me in XXXX to 7 days. 

XX/XX/XXXX - XXXX left me a voicemail and I returned her call later that day. She told me that nothing could be done. She said that the bank always charges a " spread '' on foreign transactions. I pointed out, again, that a Chase agent had told me I would get the spot rate. She apologized and repeated that nothing could be done. I then asked if there was an arbitration process and she said yes but I would need to hire a lawyer to contact their legal department. I said that I wasn't prepared to spend money on a lawyer and that I would go through Small Claims Court. She said I would need a lawyer for that so why not go through arbitration. I explained that lawyers are not permitted in Small Claims Court. 

XX/XX/XXXX - In a last-ditch effort to avoid litigation I went into my same local branch, explained the situation and asked if there was anything that could be done. The banker told me that the manager was out of the office but would be back on Monday and that he would have the manager call me on Monday or Tuesday. I never received a call. 

XX/XX/XXXX- I investigated the small claims process and discovered that I needed to put my claim in writing which I did on XX/XX/XXXX, letting them know that I would file a Small Claims Action on XX/XX/XXXX. I received a response saying that my message would be shared with the appropriate department. I left on a XXXX trip to XXXX on XX/XX/XXXX and, assuming there was no settlement, I planned to file a Small Claims action. 

I have spent a considerable amount of time trying to resolve this issue. I have been passed around from department to department, my calls have not been returned and, I feel, Chase has not acted in good faith. If I end up going to court, I plan to seek punitive damages.