Product: Checking or savings account

This complaint is a continuum of complaint ID : XXXX. 

On XX/XX/year>, I conducted a transfer from an external account ( credit union ) to Chase, via my Chase checking account, in the amount of {$600.00}. I received a notice that the transfer would be remitted and available on XX/XX/year>. However, when viewing my balance on XX/XX/year>, I noticed that there was no hold pending or funds in my account from the transfer. 

I waited until XX/XX/year> and contacted Chase and was routed to their fraud department. The fraud department informed me that they were unable to verify the name on the external account. In addition, Chase Bank decided to delete the account from my list of external accounts, again. Lastly, Chase failed to inform me, in any manner, that the transaction of {$600.00} was in question by the bank. I asked for a reason why Chase did not contact me to at least verify any information or send me a letter, in addition to deleting the account from my list of external accounts. The representative informed me that the algorithm automatically deletes the account if it is unable to verify the account holder on the remittal side. I informed the representative that Chase 's failure to notify me of the transfer in question resulted in monetary consumer harm, as a credit card bill that I was anticipating paying was to be paid by all the funds from the transfer. As a result, I incurred a delinquent payment and interest fees due to the negligence of Chase. 

While informing the bank of their practice and how it monetarily affected me, I was told that the bank is allowed to do this per the disclosed terms and conditions. I informed the representative that while the bank may be abiding by the terms and conditions, it does not mean the bank 's practice is legal. I stated that the act of the bank is unfair, deceptive, and abusive, and has resulted, at least in my case, monetary harm.

However, since the bank referred me to the account disclosures and digital services agreement, I took a look at both documents. In reviewing the account disclosures, the bank states the following : " You acknowledge and agree that we may decline or prevent any or all transactions to or from your account, including refusing, freezing, reversing, delaying or returning any specific withdrawal, payment or transfer of funds to or from your account, or removing funds from your account to hold them pending investigation, including in one or more of the following circumstances : Your account is involved in any legal or administrative proceeding ; We receive conflicting information or instructions regarding account ownership, control, funds or activity ; We suspect that you may be the victim of a fraud, scam or nancial exploitation, even though you have authorized the transaction ( s ) ; We suspect that any transaction may involve illegal activity or may be fraudulent ; We are complying in our sole discretion with any federal, state or local law, rule or regulation, including federal asset control and sanction rules and anti-moneylaundering rules, or with our policies adopted to ensure that we comply with those laws, rules or regulations ; or We reasonably believe that doing so is necessary to avoid a loss or reduce risk to us. '' While the bank does state that it may decline any transaction, account disclosures fail to inform a reasonable consumer that if the bank is unable to verify a transaction, or must decline it, that the bank will completely delete the account from the consumer 's records, forcing them to go through the trial deposit and verification process again. The practice of Chase bank in continuously deleting my external account, at least twice, without notice of doing so or reason as to why, has resulted in an unfair, deceptive, and abuse practice to consumers, and presents unjust enrichment to the bank.

As a result, I have requested the bank contact me within two business days or face litigation, due to weakness in disclosures and the abusive, deceptive, and unfair practice done upon me. However, I will give the bank until close of business XXXX, XX/XX/year>, to properly rectify this issue by responding with a reason for the denial, a course of action to prevent this going forward, and the reimbursement of the fees I incurred from the negligence of Chase.