Consumer complaint received 2023-11-08
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
My name is XXXX XXXX, XXXX of XXXX XXXX Kindly see attached the response from Chase Bank dated XX/XX/2023, I would like to explain what transpired here, so that you understand my complaint and why I am objecting to the response from Chase. 

On XX/XX/2023, I opened a business checking account for my non for profit organization " XXXX XXXX '' at JP Morgan Chase Bank hereinafter referred to as " Chase ''. On XX/XX/XXXX, I deposited a check in the amount of {$10000.00} from a non for profit organization, by the name of XXXX XXXX hereinafter referred to as " XXXX ''. As is common in the process of Chase with new accounts, Chase fraud department flagged this deposit, and put it under investigation, to verify the validity of this check. They eventually CLOSED my account in the beginning of XX/XX/2023, with a claim that it's based on a lack of proof to verify this check from XXXX XXXX, The account had a total of {$13000.00} on deposit at that time, and ultimately all the fuds were locked up, which includes funds that were not of question at all, and same remain locked until they close this investigation. 

However, Chase has repeatedly denied to accept any kind of validity or proof that was provided to them, including a letter from the XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX attached hereto, verifying this check, and as well as personal appearances from the Grantor 's institution Board members, to a Chase branch, verifying and confirming the check.

From my conversations with Chase, it turned out, that their only way of accepting verification for this check, would be by verifying the PHONE NUMBER on record for the Grantor 's Institution, specifically registered by their Risk Management Company 'XXXX  XXXX '' and ABSOLUTELY no other form of confirmation or validity, from any party, including the grantor 's banking institution, will be acceptable as confirmation.

Unfortunately, the Grantor 's institution is not registered by XXXX XXXX, and can therefore not be verified through this system, which leaves us with the circumstances that we are currently in, with all of my funds LOCKED. I have pleaded with them to at least return the funds to the Grantor 's Institution, but they have denied to do so. THIS IS HIGHWAY ROBERY, AND THEFT AT IT'S BEST. 

I want to directly respond to the attached respond by XXXX to this matter, whereas XXXX claims that in our Agreement at opening the account we are subject to those actions, THAT THIS IS COMPLETELY FALSE. Nowhere in any agreement between the consumer and the Bank, is their any mention of being subject to a specific third party to verify a XXXX XXXX. 

I AM PLEADING TO YOU, TO PLEASE STOP THIS MONEY GRAB FROM CHASE, AND FORCE THEM TO EITHER RELEASE THE FUNDS TO ME, OR AT THE VERY LEAST, HAVE THEM RETURN THE FUNDS FROM XXXX CHESED TO THEIR ACCOUNT AT XXXX XXXX, AND THE REMAINING FUNDS TO ME. THIS HAS BEEN GOING ON FOR MONTHS, WITH ABSOLUTELY NO MOVEMENT BY CHASE!!! 

Kindy and truly yours XXXX XXXX

Company response to consumer: Closed with explanation