Consumer complaint received 2023-08-25
Company: JPMORGAN CHASE & CO.
State: MI
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
On XX/XX/2023, the HR department of my new employer informed me that the direct deposit of my preferred banking institution would not go through and that I would get a paper check instead dated for the XXXX of XXXX. This was problematic as I was going to be traveling internationally and would not be able to do anything with it. 

To that end, I found out what bank the paper check would be drawn against ( JP Morgan Chase ) and called and spoke to a representative and inquired with them that if I opened a a bank account with them and then deposited the check via mobile deposit, if I would have any issues. They responded " Not at all, in fact since the funds are drawn against a JP Morgan Chase account, you will probably have access if not all immediately, but at least partially in a few days. At that point, you wont have your debit card but you will have the ability to link your external bank accounts or XXXX to your other accounts. '' This turned out to be a lie. I opened the account online, took receipt of the paper check and mobile deposited it on the XXXX of XXXX in the amount of {$3500.00}. Within a day, I accessed the app again and it stated that the entire check was being held for 10 days for reasons unspecified so I was unable to do anything with the account, despite my calling and speaking to another rep who blamed it on federal guidelines ; but that is NOT what the federal guidelines say at all about initial deposits which was already clearly in violation of the Expedited Funds Availability Act. Regardless, on XX/XX/2023, the funds finally became available. As I had still NOT received the Debit card which I had been told would arrive XXXX days prior ( Turns out they never sent it ), I attempted to XXXX myself like the rep said. I did XXXX test transactions of XXXX each which seemed to work fine. On the third XXXX transaction ( which was within the daily limit of {$500.00} a day according to the Chase XXXX ), the transaction was denied. Thinking maybe there was some kind of limit after all, I tried a few different amounts... all failed. Finally, I called into Chase bank at XXXX XXXX  and was informed that they considered that suspicious activity ( even though THEIR rep is the XXXX that told me that I could do that way before I even opened the account. I in fact XXXX money between my other bank accounts quite frequently as it is faster. ). I was told by the Chase rep that I just need to go into the bank to withdraw my funds. 

That afternoon I went into the bank to do exactly that and was THEN told that I couldn't and that I needed to call XXXX. I called this number and was not only told that my account had been closed but also that I would have NO access to my deposited funds... with no further explanation. Additionally, I was told that it would be up to XXXX business days BEFORE they would actually close the account and THEN they would mail me a certified check of the REMAINING funds minus any FEES that I owed THEM. For WHAT would I owe them?? THEY XXXX  ME. I have been between jobs for overt wo months and have a LOT of bills to pay. My FIRST check I still cant access for who KNOWS how long. If I hadn't gone into the branch yesterday afternoon and found out they had closed my account and appropriated my payroll check, they would have done the same thing with my Direct Deposit that goes into that account in a week and I would have had no access to that either. Luckily I was able to stop that and will have to contend with yet ANOTHER paper check as there wasn't enough time to switch it to XXXX of my other banks being less than a week out from payday. 

What Chase did and has apparently been doing to people for years is criminal and totally insensitive to its supposed customers. I did NOTHING wrong and they restricted my account and have denied me access to my legally and lawfully earned funds and basically told me that I will have to wait until they get AROUND to releasing my funds to me in some open ended response.

Company response to consumer: Closed with explanation