Consumer complaint received 2019-08-03
Company: JPMORGAN CHASE & CO.
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
Hello, This is XXXX. This is a follow up complaint of XXXX, which I submitted to CFPB couple weeks ago. It is regarding the wire transfer of XXXX $ from XX/XX/2019. I am following this platform to submit my complaint, as the response is faster this way and my problem did not solve from prior complaint. This complaint is not to blame anyone involved, as I would take the blame myself to involve in the fraud or scam. Thank you Chase for the monetary gain of XXXX $ and fro your prompt response. I really appreciate it! 
I have few questions to discuss. This issue might seem very smaller to minimal for you, but it is a difficult situation to go through for me. 

1. The response I got from earlier complaint was that when they asked the other company for the refund, it was informed that the funds are not available. However when I called the bank 2 days ago, they informed me that they are awaiting the response from the other bank. Could you please confirm that the bank responded saying that the funds are not available. 

2. The wire transfer ( receiving message that it was successful ) and the check bouncing happened within 30 minutes. Ideally in this situation, you did the great job of freezing my account locked and one more ideal thing would have done is cancelling all the transactions including the wire transfers that happened less than 30 minutes ago or giving a call informing the fraud alert and whether to cancel the wire transfer.

3. I placed no overdraft protection ( for a reason to avoid overdraft fee from my past experience ). If I would have been a bank employee, I would be at consumer protection side, and at this circumstance, I would not make the customer go to a negative balance and instead would subtract XXXX $ from the wire that recently sent to avoid the negative balance for the customer. Atleast at such instance, the customer can take action immediately, as I only had 7,200+ $ in my account at that time. I would have saved at the least those XXXX $ and also the bank as well. 
I am not a rich person ( I am an XXXX who started working only last year ) to have more cash to immediately make it to positive balance and act on it. It took me a while to get the cash and make it active to act on the fraud. You would not have guessed how difficult it was for me to get that cash and make it to positive balance. And it is a huge amount to lose ( at least for me ), it was very traumatic and I was in denial to go through such phase. 

4. The funds becoming available immediately after check deposit made me think that the check got processed successfully. I waited 2 days for the same reason to make sure if there is any error in the check would affect me. 

Again, I want to emphasize that it is not to blame anyone. I should have been more cautious in the process. Having said that, people like me, trust banks so much that they warn or help in such regards. I did both depositing the check and also wire transferring from the bank ( not from ATM or through electronic devices ), atleast if someone would have warned me that check verification process takes so and so days or the wire transfer process, I would have been more cautious. 

This whole incident has been very traumatic and as you may see my bank balance has been at alltime low since this happened. I opened an account in Chase after  recommendations from many of my friends who mentioned it being very secure, less fraud or scam involvement with helpful people. Money can be earned again, but the faith and trust we have in our banks to get help when such incidents happen can not be earned again. 

I did complain to internet crime and FBI about this. Well, I don't think it will be much helpful as I had my immense trust only on the bank to get my funds back. Hence Kindly if the bank can help in this regard in any way that would be beneficial.

Company response to consumer: Closed with explanation