Consumer complaint received 2023-03-27
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
My name is XXXX XXXX and a letter was delivered to my household in XX/XX/2023 from JP Morgan Chase Bank. However, because the letter was misplaced my another member of my family, I did not see it until XX/XX/2023. When I read the letter, it informed me that both my checking and savings account would be closed on XX/XX/2023 due to " unexpected activity '' on the account ( s ). Upon seeing this, I thought the letter may have been sent out by mistake because I had been actively using both of those accounts normally ( bill pay, employer direct deposits, automated credit card payments ) throughout the month of XXXX, so I reached out to Chase customer service the next day and made an inquiry about this letter. 

On that call, I was told by the representative that it was not a mistake but that she did not know why the account was still open as it should have been in a " restricted '' state since XX/XX/XXXX and that was very " weird ''. Upon hearing that, I asked her why the accounts would be closed because I had been using it the same way as I had been for the 7 years that the accounts had been opened. She told me there was no reason provided and that I was at a dead end because the bank would be under no obligation to provide that information for me. I then asked her if it's possible that it could be a mistake since the letter stated that the account should have been closed on the XXXX but it was still open on the XXXX. She said it was possible but the bank would have sent a later stating that it was a mistake. I asked her if there was any recourse and she said most likely not and that I would be left in the dark in terms of why. That of course frustrated me because again, I had not changed the way I had been using the accounts for years and I stressed that it was a everyday normal things. 

The next day I decided to visit a branch in person, hoping to be able to get more answers. The banker that I spoke to there was kind and tried very much to be helpful. He said he would call the department that sent these letters to see if he could get any more information. While he was on hold, he himself went over my accounts and told me that he did not see anything alarming that jumped out at him and he wasn't sure why my accounts would have been suddenly closed like that. Unfortunately, after he spoke with the department, he said they did not have any information that they could provide me either, other than the Chase had decided that after a " Consumer Risk assessment '' that they would close my accounts. I was not given any information on what was inside that risk assessment but only that it had to do with my accounts. He told me that they account would be closed in 7-10 days and that I should withdraw all of my funds so that I could have that ready to deposit in whichever bank I decided to go to. 

All in all, this was a very distasteful experience because a regular customer, who has used his accounts for regular, every day things like bill pay and employer direct deposits for 7 years would suddenly have the account closed with no explanation, chance at a dispute or any recourse whatsoever. It's even more frustrating because this is my only checking account and all of my autopay bills are set to this account so now I have to go and change all of that. I think it is extremely unfair that customer in good standing is kept in the dark and unable to dispute what I am 100 % sure is a mistake.

Company response to consumer: Closed with non-monetary relief