Consumer complaint received 2023-08-02
Company: JPMORGAN CHASE & CO.
State: NC
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
Dear Consumer FInancial Protection Bureau, I hope this letter finds you well. I am writing to lodge a formal complaint regarding an unresolved payment issue I am experiencing with Chase Bank. 

XX/XX/2023, I decided to switch banking institutions, from XXXX to Chase. Before the transfer, I made a final payment of {$2000.00} to my Chase Credit Card account. XXXX informed me that they were unable to close my account until the {$2000.00} payment was posted to Chase. 

XX/XX/2023, I initiated a transfer of {$2000.00} from my XXXX checking account to my Chase credit card account. Chase received and posted the transfer on the same day, as confirmed via my Chase Online account. XXXX, received the alert that my {$2000.00} was posted to my Chase account, proceeded to close my account. 

Later that same day, after my XXXX account was closed and the payment posted by Chase, Chase attempted to verify the funds. However, they were unable to do so and declined the {$2000.00} payment, citing insufficient funds. Chase made a second attempt to process the payment on XX/XX/2023, but it was again returned, this time due to the closure of my XXXX account. The payment was sent back to XXXX, but since my account there was already closed, XXXX was unable to reimburse me the {$2000.00} to Chase. 

I received a letter from Chase on XX/XX/2023, stating that they declined the {$2000.00} payment from XXXX and had blocked my XXXX account from sending any further payments to my Chase account. 

Chase claimed they do not have any information or records pertaining to the {$2000.00} transfer and do not have the returned funds. XXXX has confirmed the receipt of the returned funds from Chase, but XXXX could apply the credit the {$2000.00} due to my account closure nor issue a check, which leaves the {$2000.00} in limbo. 

In my attempt to rectify this issue, I have made numerous calls and spoken to several Chase account supervisors. XXXX provided a Transaction ID ( XXXX ), which I forwarded to Chase. However, Chase account mangers claimed they could not track or act upon this ID and requested further information such as bank statements. 

XX/XX/2023, XXXX XXXX, I coordinated a conference call involving both XXXX and Chase account managers, XXXX, XXXX account manager and XXXX, Chase account supervisor. During this call, we reached a resolution. XXXX agreed that Chase has processes in place, that are not recognized to other financial institutions. XXXX confirmed that he would credit the {$2000.00} back to my Chase credit card account and waive interest charges. He asked to send proof of payment a checking account statement showing that the {$2000.00} payment was made. Chase would conduct a missing payment investigation and reclaim the money. The documentation was provided via Chase secure messages, and they would contact me if Chase needed anything else. Chase applied my {$2000.00} payment to my credit card account. 

I thought he issue was resolved ; however, I received a letter from on XX/XX/2023, stating that the {$2000.00} payment was credited to my account in error on XX/XX/2023, and that the credit had been reversed. No further updates or calls were given to me regarding the payment investigation. 

XX/XX/2023, XXXXXXXX XXXX, I contacted Chase. While the account supervisor was initially helpful, their demeanor changed, becoming rather curt when I asked about the next steps. I was left in the dark, without any information about how to proceed to recover my {$2000.00}. 

Thank you, XXXX XXXX

Company response to consumer: Closed with explanation