Consumer complaint received 2023-07-09
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:
On XX/XX/XXXX I went into Chase bank to open up a Business Checking ( Checking Account # XXXX ) and Savings Account. The same day I made a check deposit for {>= $1,000,000}, the check that I deposited was a tax refund check made payable to my company from the United States Treasury Department. Then on XX/XX/XXXX I checked my online banking to check the status of my deposit, my account was restricted. 

I called the Chase customer support line and requested to know why was my account restricted I was informed that '' I needed to go inside the bank and provide a copy of my EIN conformation letter proving that my business was issued an EIN number before the issuance of the check ''. 

On XX/XX/XXXX I went to Chase bank and spoke with a relationship banker XXXX XXXX at XXXX and informed her of the situation, and provided her my EIN Conformation letter from the IRS. XXXX XXXX informed me that she submitted the document and I have to give a call to the fraud hotline ( XXXX ) to check and verify that the Fraud Department have received the documents she sent over to them. 

On XXXX XXXX through XX/XX/XXXX I continued to call Chase Bank Fraud Department and customer support, requesting the update on my account and did Chase receive the EIN Conformation letter. On XX/XX/XXXX I was informed that Chase received my EIN Conformation letter and my account was unrestricted. 

On XX/XX/XXXX I went to chase bank and made to transactions totaling {$230000.00}. Then on XX/XX/XXXX my account was back restricted. I contacted Chase bank the same day and requested to know why my account was back restricted. I was informed that " Chase bank have to contact the United States Treasury Department to verify the check that was issued to me from the U.S. Treasury Department inorder for Chase to un restrict my account and that this process can take between 5 to 7 business days ''. I then called back on XXXX XXXX and was told that " I needed to go inside the Chase bank with all the parties listed on the check and fill out a Hold Harmless letter and have it notarized by a banker, and once the Hold Harmless letter is received my account will be unrestricted ". 

On XX/XX/XXXX I along with three other parties went to Chase bank and provided valid state issued Drivers Licenses to Chase relationship banker XXXX XXXX. Again I explained to The banker XXXX XXXX that my account was again restricted and Chase wanted me to step inside it's branch with the parties listed on the check and provide valid Identification and fill out an Hold Harmless letter and have it notarized by a banker and have the banker send it to Chase back office. 

The relationship banker then provided me with the Hold Harmless issued from chase I filled it out. XXXX XXXX then asked for me and the parties that were present Identification and documented and she proceeded to notarize the Hold harmless letter. After notarizing the letter XXXX XXXX sent the document to Chase Back office, and informed me to contact Chase fraud Hotline at XXXX, to verify that the Fraud Department have received the Hold Harmless Letter. 

I have been calling the Chase Fraud department for the pass 6 months ( XX/XX/XXXX - XX/XX/XXXX ) and I am continue to be told that Chase bank have to get intouch with the U.S. Treasury Department to verify the check. 

I called Chase bank on XX/XX/XXXX to file another compliant ( Compliant # XXXX ). 

After taking numerous steps, making numerous calls to Chase bank officials and traveling back and forth to Chase banks with the requested documentations and identification, to resolve this matter and obtain my funds. Chase continue to refuse to provide me my remaining funds totaling {>= $1,000,000}.

Company response to consumer: Closed with explanation