Consumer complaint received 2019-05-25
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
In mid XXXX my personal and business Chase credit cards stopped working while trying to get gas. After receiving no calls, texts or emails asking if " I was trying to use my card at a gas station '', I gave chase a call on the XXXX number provided on the back of the cards. I informed the customer service representative that I was trying to buy gas and my cards were being denied. The lady informed me that my accounts were closed, after a few minutes of arguing and insisting that my accounts were not closed, I realized that it was Chase that closed my accounts. When I asked the customer service representative why Chase would do such a thing since I had never been late on even one payment, she informed me she was unable to tell me. As a Chase Sapphire Reserve card holder and a Chase " Private Client '' ( heck even as a regular client ) that answer seemed highly unsatisfactory. I asked to speak with management or someone who could provide the answer. When I spoke to management they told me they WOULDN'T provide information as to why my accounts were being closed. They also informed me that it was not only my credit cards but my personal, savings, and business checking accounts were also being closed. This infuriated me as there seemed to be no reason for the closures, and if there was an explanation it was not going to be given to me. 

Again to be clear I have never bounced a check, been late on a payment, or had my account over draft ... not once. 

After many phone calls to customer service attempting to get an answer and receiving roughly the same information. Some stated that it was only my credit cards that were shut down, others stated it was all my accounts with Chase. It was even more confusing because my debit cards were still working. 

After visiting a branch yesterday to make a deposit I spoke with a manager at the location who confirmed I had until XX/XX/XXXX to withdraw funds and find a new bank or the remainder of the funds would be sent to me via check and the accounts closed by Chase permanently. ( Why was I never given notice when this decision was made weeks before? Why was I not given this information when contacting customer service via the XXXX  number? Why am I not being provided with the reason as to why my accounts are being closed? ) After speaking with my accountant, family and friends as to why this is happening, many asked if I made large cash deposits ( large is a relative term ). I make roughly {$10000.00} a month cash deposits currently to my business checking account from transactions made at my business. $ XXXX+ is made monthly by my credit card processing company " XXXX ''. That means my cash deposits equal roughly 5 % of my businesses volume. 

Two large deposits were made over the past 5 years, {$60000.00} and {$100000.00} both by XXXX XXXX XXXX ... the lending division of the well known multi XXXX dollar credit card processing company.

Company response to consumer: Closed with explanation