Consumer complaint received 2021-04-27
Company: JPMORGAN CHASE & CO.
State: MD
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
This is a follow up to a previous complaint for which feedback was already provided and the case was closed. Previous complaint ID is XXXX submitted XX/XX/XXXX. 

My father died on XX/XX/XXXX. I attempted to close his account with JP Morgan Chase on XX/XX/XXXX, but understood some funds needed to be withheld for possibly reclamation by Social Security. However, the potentially reclaimed amount was {$1400.00} and the balance in the checking account was {$15000.00}. Chase said I needed to provide the SSA # XXXX or provide a letter from Social Security indicating that the funds could be released. However, after 4 different calls to SSA, SSA says they do not provide such documentation to banks. Finally, after filing a complaint with CFPB, I was able to have the funds in excess of the potential reclamation released. I was told by the branch officer in Florida that I should withdraw the funds quickly because they may freeze the account again soon. I tried to withdraw some of the funds using XXXX and was able to transfer {$5000.00} before a fraud alert was issued and froze the account. Chase then required me to go to a branch to withdraw the remaining funds. On XX/XX/XXXX, I went to the branch ( XXXX, MD XXXX to withdraw the funds and have them transferred to my new CHASE checking account. Unable to do a simple transfer of the funds, the branch manager had a counter check printed on my father 's account which I ( as beneficiary ) was instructed to make out for the amount that was not being held ( {$9900.00} XXXX. The check, deposited on XX/XX/XXXX, cleared by the end of the business day on XX/XX/XXXX. A few days later, I received an email from CFPB asking if the matter was resolved to my satisfaction, and I provided relevant feedback at the time. However, on Friday, XX/XX/XXXX, I received a letter from CHASE informing me that the check I deposited was not paid by the bank (! ) and therefore the funds were withdrawn from my account, which is now overdrawn due to a {$12.00} bounced check fee. I am not longer satisfied with the resolution of this case. 

It is now 6 weeks since I attempted to close this account and withdraw the funds IN EXCESS of the amount that must be withheld for potential reclamation by SSA. I am in the midst of grieving for the untimely loss of my father during a global pandemic. I am burdened with paying his funeral and burial expenses, and I find the emotional stress of dealing with Chase and it's opaque policies throughout this ordeal to be unbearable and beyond frustrating. 

I was making a good faith effort to establish a banking relationship with Chase by opening a new checking account and leaving the transferred funds in there. I now regret that I did not simply ask for a cashier 's check so I could take my business elsewhere. 

This is unacceptable treatment of a consumer and inappropriate withholding of funds that Chase has no right to hold. As a result of my inability to access these funds, I am paying interest and late fees on the bills I intended to payoff using this money.

Company response to consumer: Closed with monetary relief