Consumer complaint received 2023-02-28
Company: JPMORGAN CHASE & CO.
State: AL
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XX/XX/XXXX, I opened a savings account with Chase Bank after an XXXXlong banking relationship with them and around {$25000.00} in other accounts with their bank. To fund the account, I mobile deposited a {$15000.00} cashier 's check, a gift from a family member to help me pay for my upcoming wedding that was less than six months away. 

Due to the amount of the check, I did not expect immediate fund availability. However, it was a cashier 's check from a family member, and Chase has previously cashed cashier 's checks from the same giver with no issue. I received notification via letter that my account was restricted, due to ongoing check verification. However, a couple days later, I checked my account to find my funds had cleared and were ready for use. Therefore, it was clear to me that review of the check had been completed, and I thought nothing further of the check. 

After about a month had passed, I needed to access my funds to pay a vendor for my wedding. I logged into my Chase account ( with my personal checking, business checking, business credit and savings account linked ). There was no trace of my savings account or the {$15000.00} that I had deposited into it. I was alarmed and confused, and immediately called their support line. After being re-directed multiple times, I spoke with one Chase representative that said she would be able to help. She initially could not find the savings account, but after a lengthy hold, was able to find that the savings account had been closed by Chase and the funds claimed by their legal team. She told me that she had issued an order to that team to disburse my funds into my checking account, and that it would take up to 10 days. She assured me that the issue was all but resolved. 

Even so, I asked to speak to a representative that had more authority, so that I could ensure that the issue was resolved, and also request a more expeditious reimbursement of my funds due to their wrongful XXXX and the immediate costs surrounding my impending wedding. I was told that the previous representative had misspoken, and that the {$15000.00} could not be disbursed into my checking account because it could only be disbursed into the account from which it came. Chase Bank had unilaterally canceled my savings account and therefore could not disburse my funds into that savings account. Though they had the authority to close it without notifying me, they claimed to not have the authority to reopen it. 

Nonetheless, I was assured that a check would be sent to me ( in 10 business days ) and that someone with more authority would call me within 2 business days. This call was on a Friday with a banking holiday on the upcoming Monday, so I was told that someone would essentially get back to me in a week or so. 

It has now been almost two weeks since that phone call, and Chase Bank has not communicated with me once. I sent a message this morning to request further communication that was met with an automated response to call another number. Chase is content to leave my wedding funds in limbo. They have made no effort to make things right, nor have they acknowledged responsibility. They received the funds from the other bank and then closed my savings account with no notification to me. And with my wedding now four months away, I have vendors to pay with my money that Chase unjustifiably seized.

Company response to consumer: Closed with non-monetary relief