Consumer complaint received 2023-06-15
Company: JPMORGAN CHASE & CO.
State: IL
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Prior to XX/XX/23, as my partner and I were planning our wedding, our families had transferred money to our individual accounts ( not with Chase ) to help us pay for wedding expenses. 

On Saturday XX/XX/23, I got married to my partner in XXXX ( pending legal marriage once we returned home to XXXX ) and received XXXX in cash and XXXX in checks from friends and family. 

On Monday XX/XX/23, after coming back to XXXX we went to our local Chase bank to open a joint checking and savings account. We brought a voucher for a XXXX  bonus for setting up direct deposit. A Chase representative at the branch opened both accounts for us and applied the voucher. He then demonstrated how to do mobile deposits by having me deposit a check from my step-father for XXXX into the newly opened account. He showed us some more features with the mobile checking app. We then deposited the XXXX in cash and the remaining XXXX in checks ( 3 separate checks for XXXX, XXXX, and XXXX} ) Upon returning home after opening the account, we settled the rest of our wedding expenses and found we had an extra {$970.00} from the wedding budget in my personal checking account at XXXX XXXX XXXXXXXX. I wrote myself a check from my personal account and deposited it into the new joint account with Chase. My partner and I set up our direct deposits from our jobs into the joint account and switched over our monthly utilities to the new joint account. We began the process of verifying our external accounts with the joint account ( where small amounts are deposited and withdrawn and the specific amounts are used as verification ). We finally set up monthly automated transfers of XXXX into the joint savings account, and transfers out of the joint account into our personal accounts. The combined transfers and payments out of the account would have been less than our combined direct deposits in, so we would have built funds together in the checking account together every month. 

On Tuesday XX/XX/23, our individual banking institutions completed the verification deposits/withdrawals for very small amounts ( < {$1.00} ) and we completed the verification processes. I setup our monthly mortgage payment to XXXX XXXX  XXXX from the joint account with Chase. 

On Wednesday XX/XX/23, I received 2 notices from Chase that the mobile deposited checks ( from my step-father for XXXX and from myself for XXXX  ) had been placed on hold and that the funds would be available on XX/XX/23. In my own personal account, I see the check had been cleared on XX/XX/23. 

On Friday XX/XX/23, I received a notice that the new account had been restricted " to protect against potential fraud '' and that it may be closed soon. Additionally, my online profile had been locked, preventing me from accessing my credit card and car loan accounts with Chase as well. I called Chase as soon as I got out of bed and the representative told me the account had already been slated for closure ( both the joint checking and savings ) and that they could not provide a reason over the phone. The representative said that a letter explaining the account closure and a cashier check containing the remaining funds in the account would be sent to me by mail. After getting off the phone, I went to the local Chase branch where we had opened the account. The representative at the branch called on our behalf but also did not receive a reason for the account closure. However, the representative did learn that I was barred from opening any future banking accounts with Chase ( checking/savings ), however my partner could reopen an account with Chase. I was not barred from maintaining my car loan or credit cards with Chase. Later that day, I called Chase customer service again and had my online profile unlocked, allowing me to access all my accounts while the checking and savings account remained restricted. This last representative told me that " Chase had decided to end my banking relationship '', which is why I could no longer open any future banking accounts with them. 

On Thursday XX/XX/23, I called Chase again and learned that the final account closure date would be no later than XX/XX/23 and that a cashiers check for the remaining funds would be issued no later than XX/XX/23. Again, no reason could be provided for the account closure.

Company response to consumer: Closed with non-monetary relief