Consumer complaint received 2023-09-01
Company: JPMORGAN CHASE & CO.
State: KY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I went into the " full service '' traditional branch to make a deposit of a cashier 's check ( Payable from a credit union/drawn on the credit union . ) I went into the branch and was directed to an ATM. The " full service '' branch didn't have a teller line. I asked an individual at the bank ( XXXX ) if it mattered that I was depositing a Cashier 's check ( {$80000.00} ) and she said " no, all checks are processed the same. '' I said, " are you sure, I don't want a hold placed on the full amount of the check. '' She confirmed. So I continued to make the deposit at the machine - again - there was no teller, no teller line at this " full service '' branch. 

At the ATM followed the instructions. At no point was there a disclosure of the funds availability policy at the machine. I after inserting my card, and then following the steps, I deposited the check. The machine gave me a warning about delayed processing and I turned around to ask XXXX about the message. She again confirmed that Cashier 's checks aren't processed any differently. She was very unaware of any Funds Availability training and couldn't even explain the funds availability process. By the time I turned around, back to the machine ( which I was forced to use because the " full service '' branch doesn't have a teller line ), the machine had already accepted my deposit. The receipt showed a 14 day hold for the full {$80000.00} - again, " on a cashier 's check ''. The explanation on the receipt said the hold was because of information about the check. This makes me believe they were using the " reasonable doubt of collectability '' however, there is no information that they had that would would have led them to this conclusion. 

A few things bother me about this : XXXX ) The branch associate had no knowledge of the funds availability policy or regulation. 
XXXX ) The bank 's disclosures do not accurately describe an " in person '' deposit when forced to use a machine - there should be a difference. I don't care to use an ATM but I made the deposit in their lobby. 
XXXX ) There was no FDIC sign at the ATM where I made the depsoit. 
XXXX ) The branch is considered " full service '' - if they closed the full service part they did not provide notice to the community. 
XXXX ) The automated decisioning at the ATM to decide to place a hold or not should have reasonable information for the consumer to back out of the transaction. I could have wired funds to the bank if needed- but wasn't given enough time to understand the ramifications of making a deposit. 
XXXX ) The ATM receipt did not provide any information to indicate the first {$5000.00} would be released- it only gave me an exception hold of 14 days. 
XXXX ) I have knowledge beyond a reasonable consumer, a reasonable customer. 

From a customer service perspective, 1 ) The branch associate misrepresented the funds availability policy 2 ) The 4 other people in the branch couldn't help her. 
XXXX ) The receipt from the ATM should at minimum describe how to resolve any conflicts.

Company response to consumer: Closed with explanation