Consumer complaint received 2023-10-04
Company: JPMORGAN CHASE & CO.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I'm grateful that I found the Consumer Financial Protection Bureau ( CFPB ) so I can finally have my voice heard. Not too long ago, I won a {$500.00} scholarship from XXXX XXXX, but they took an unusually long time to send the money. On their website, it stated that the funds were intended for student expenses, among other things. 

When the scholarship check finally arrived, I tried to deposit it into my XXXX XXXX XXXXXXXX account. Unfortunately, they refused to accept it, claiming there was something wrong with the check. Given my previous minor issues with XXXX XXXXXXXX XXXX and my desire to change banks, I decided to open a new account with Chase, which accepted the check without any problems. I felt relieved and thought I had made a wise choice by selecting Chase as my new bank. 

However, my elation was short-lived when I discovered that I couldn't access the funds. I immediately called Chase because I depended on that money to pay my credit card bills. As a student, my income typically ranged from {$100.00} to {$200.00} per week ( depending on working hours ), so this scholarship was significant to me. 

During my conversation with a customer service representative, I was informed that the check hadn't been correctly endorsed, and that's why they had placed a hold on my account. I tried to cancel the check, but they told me it wasn't possible because they needed to verify it with the scholarship provider. 

To cut a long story short, the scholarship provider blamed my college ( XXXX ), XXXX pointed fingers at the bank, and the bank, in turn, blamed the scholarship provider. An entire month went by, and no one seemed capable of resolving my issue. I spoke with more than ten individuals, and every time I asked to speak with a manager, no one was willing to assist me. I repeatedly explained that I didn't care about the {$500.00} ; I needed access to my work earnings since that's where all my money was going. Unfortunately, my workplace didn't allow me to change my bank account, and it would take two weeks even if they did. 

No one at the bank was willing to help except for my fiance, and the two of us are currently struggling to make ends meet. This situation has made the past month incredibly difficult. I wanted to share my story to highlight how unhelpful and unprofessional everyone involved acted. 

In the end, they claimed to have " fixed '' the issue by closing my account and sending me my workplace checks. However, it has been a week, and the checks still haven't arrived. Consequently, I can't pay my credit card bills, which is a major concern for me. 

Chase doesn't provide an email contact to reach managers, and their staff is uncooperative when it comes to connecting customers with managers, regardless of the situation. They don't notify customers when their accounts are restricted or closed, nor do they provide updates on what they plan to do. If I hadn't called them, I wonder what they would have done with the money, considering they sent the checks in the afternoon after my call. 

I am thoroughly exhausted by this ordeal, and it's disheartening to think about how many people are being affected. If I were solely dependent on a weekly paycheck, I would be facing homelessness right now, all because of this frustrating experience with Chase.

Company response to consumer: Closed with explanation