Consumer complaint received 2021-01-07
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
Chase Bank mysteriously closed my business checking account without advance notification and without proper justification withholding my money {$2000.00}. I only found out when I logged in to check for the status of my deposits to see a message displayed on screen that I don't have any accounts to show. The funds for these deposits have already been cashed out of the Payor 's account whose belongs to my mom issuing the checks payable to me, but only Chase bank had access to see the account on their system and I captured the screen shot to see that the deposits I made that were cleared. These deposits were not available in the balance aka balances were not updated. I asked how can they closed the account when my funds remained and Chase representative forwarded the message from Corporate Chase that they could not locate my funds. I've contacted via phone calls, messages and in person and this matter still has not resolved since XX/XX/2020. Chase gave me a run around, made false excuses and statements with no back up evidence, provided me inconsistent and mismatched information. 

On XX/XX/2020, I opened business checking account at Chase Bank on XXXX XXXX XXXX in XXXX XXXX, CA. This was opened with a promotion bonus of {$300.00} once completed 5 mobile deposits with a combined sum of {$2000.00} On XX/XX/2020, I satisfied the promotion requirements by making 5 mobile deposits to this account with different checks totaling {$2000.00}. After all deposits, the bank showed that those checks were holding. 

On XX/XX/2020, I logged into Chase account to check for the status of the deposits only to find out that a message displayed on screen that I don't have any accounts to show. Basically, my account was inaccessible. The funds for these checks have already been cashed and withdrawn from my mom 's account who is the Payor to issue me those checks. 

On that same day, I tried to resolve this matter with the Chase branch representative and he was able to access my account so I can see that all those deposits I made to my account were not updated and available in my balance. He got a message from Corporate Chase to inform me that the checks were fraud ; however, I did not receive any communication previously that the checks were fraud and at same time those checks were already drawn from the payor 's account. I've tried to contact Chase also via phone calls and emails, but the matter is still not resolved. They still withhold my {$2000.00} in the account they closed and later claimed that they can not return the money because the checking account was closed. This is outright wrongful on Chase Bank. How can you close an account on your behalf and withholding customer 's money? Are they avoiding paying me the {$300.00} bonus promotion by closing my account with no justification, and no notification and at same time withholding my funds? 

I entrusted the bank with my money. When I performed my bank transactions in good faith and exercised them due diligence, I expected that Chase keeps their end of bargain to pay the promotion bonus. On the other hand, their action was an unethical misconduct - closing customer 's account, falsely claimed that deposits were fraud but cashed their money and withhold their funds and closed their account. Isn't this stealing? Every day they withhold my money, I could make money else where. Every day they withhold my money, they put on financial stress and burden to my every day to meet my ends meet. I am the victim of Chase Bank stealing my money for their daily financial gain and put me in financial stress/burden. I NEED YOUR HELP. When they cashed the total of {$2000.00} electronically they should put back the {$2000.00} electronically.

Company response to consumer: Closed with explanation