Consumer complaint received 2020-09-28
Company: JPMORGAN CHASE & CO.
State: CO
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
About 10 years ago I received a car loan from Chase and opened a checking and savings account with them. In XXXX, I opened a business account and credit card processing. At the end of XXXX, I opened a different business account with no credit card processing. Both business accounts had other signers. 

In XX/XX/XXXX, I received a letter from Chase in the mail that they were ending their banking relationship with me for my personal accounts. I called and spent about an hour on the phone and they refused to give me any information as to why they were closing my accounts or if a person or algorithm made the decision. I went to my local branch where I was well known by the staff and they reviewed my checking and savings account and said they could not see any transactions that would cause alarm. 

The manager at the local branch said they would not tell her why they were closing my accounts. She suggested it might be because we pull a lot of cash out of one of the business accounts ( the one without credit card processing ). We receive international wire transfers in, take the money out to XXXX   XXXX, and then XXXX XXXX XXXX. Chase reviews our account about once a year and we explain where the money is coming from and where it is going and everything is fine. Our business accounts were not closed. I closed the first account with credit card processing because I was not going to continue to have products from Chase when they were treating me poorly. 

I looked online and there were a lot of reasons that people 's accounts were closed, I have had none of these instances. My credit score is XXXX, my account was not in the negative and I had about $ XXXX in my savings account. The transactions were my paycheck going in, bills and shopping going out, and small amounts of cash from the ATM every other month. I was not selling my credit card points, I had not attempted to buy cryptocurrency, I work in the XXXX XXXX, did not deposit money orders, no credit piggybacking, I did not open accounts, no large cash deposits, and all my accounts were in good standing. 

The maddening part is no one at Chase will tell you why they are ending the banking relationship. I asked how long I was banned from Chase and I was told for life. I read online some people were able to successfully open accounts after a year. There is no possible way I can correct any issues Chase might have had a problem with because I do not know what they are and there is no clear indication of what they might be. It is illogical to close my personal accounts for transactions on a business account that was allowed to remain open. 

XX/XX/XXXX, I was approved for the Chase United Explorer card with a $ XXXX opening balance. The account was closed a few months later because their partner had chosen to end their banking relationship with me. This prevents me from obtaining extra airline rewards on a carrier I have frequent flyer status with.

Company response to consumer: Closed with explanation