Consumer complaint received 2023-01-21
Company: JPMORGAN CHASE & CO.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Check cashing service
Issue: Fraud or scam

Complaint:
To Whom It May Concern : Fact : I am and have been a XXXX XXXX XXXX  for over XXXX  years. 
My license is with XXXXXXXX XXXX XXXX XXXX XXXX  XXXX. 

Issue : On Wednesday, XX/XX/2023 I received a commission check in the amount of {$12000.00} from XXXX XXXX  XXXX XXXX, XXXX the title company that did the closing on a house sale from their business account with XXXX  XXXX in XXXX XXXX, Florida. 

On Thursday, XX/XX/2023 I went to the Chase Bank, XXXX XXXX XXXX XXXX in XXXX XXXX, Florida and deposited this commission check into my personal checking account. 
At the bank I was told by the Chase representative that she would be to able to release {$220.00} into my account and then the balance would be available and cleared into my account by Tuesday, XX/XX/XXXX as this was bank policy. I accepted the terms. 

On Wednesday evening, XX/XX/XXXX I checked my account only to find a statement in my bank ledger that the funds would now not be available until Tuesday, XX/XX/XXXX. 

I immediately called Chase and was told there was a problem with the bank check from the title company and the funds would not be released and to call back in the morning to the Check Hold Dept.at the XXXX number. 

Then on the next morning, Thursday XX/XX/XXXX, before calling Chase, I received a letter from them stating they now placed a hold on my deposit as " The information we have indicates the deposited check may not be paid. " I immediately called the Branch Manager with XXXX XXXX  XXXX XXXX to ask why Chase would not accept their check. 
She told me she would check with their bank, XXXX  XXXX, and get back to me. Later that day she sent me an email starting that the check had already been cleared and Chase was paid in full. She also sent me a copy of the front and back of the paid out check to Chase. 

On Friday, XX/XX/2023 I went into the Chase XXXX XXXX XXXX where I made the deposit and showed the banker that the check had already cleared and Chase had the funds so why would they not be releasing my funds into my account? Her response was " Sorry I can not help you as we no longer can assist you with your problem as they ( the local bank ) no longer have control and I must work with the XXXX XXXX XXXX by telephone as they are the final decision maker about releasing any funds. 

This is " FRAUD '' as Chase is holding my funds stating I must wait 12 days now to find out if the check clears while threatening to then charge me a bank return fee when they have already been paid! They were paid by areutable local bank, XXXX  XXXX from a business account with a reputable local title company so how can they get away with this? They are holding my funds for an additional week while stating I might not even get the funds in my account! They have been paid already and I will send documents of proof if needed. 

I am filing this complaint accusing Chase Bank of stealing my funds which they have no right to do since they have already been paid! 
I demand they deposit these funds of {$11000.00} into my account immediately as this is a Fraudulent practice that I am not accepting! 

Thank you,

Company response to consumer: Closed with explanation