Consumer complaint received 2018-05-02
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I was selling some chairs. I got a text from phone number XXXX. The agreement was that they would send me a check in the amount of {$3400.00}. I would keep {$1900.00} and give the moving company {$1500.00}. I received and deposited the check at my local Chase bank via ATM on Thursday, XX/XX/XXXX. The check cleared the next day Friday XX/XX/XXXX. The buyer than asked me to deposit the {$1500.00} instead of give the movers in cash so they can have a receipt of the deposit. The {$1500.00} was to be deposited to a chase bank account XXXX XXXX account number XXXX on Saturday XX/XX/XXXX. I looked up the company and it was valid and since it was a Chase account I didnt think much of it. A few hours after this transaction was done the buyer contacted me saying that I need to send the amount {$1700.00}, $ XXXX- {$250.00} because I lost another buyer, to his nephew and that he cant go through with the transaction. He asked me to deposit the amount to XXXX XXXX at XXXX XXXX XXXX XXXX XXXX bank ACC # XXXX routing number XXXX. I told them that they are going to have to wait as I didnt trust this was a legit transaction. They started threatening me and calling from phone number XXXX. In the meantime, I called Chase Fraud department and explained that I thought I was in receipt of a counterfeit check and that I was being scammed. Chase fraud assured me that the check cleared and the funds where available and nothing seemed to be wrong. I still wanted to wait another 24 hours before I returned any more to them. On Monday XX/XX/XXXX, I saw that everything was still ok so I told the buyer I would send them the money. They asked that I send via XXXX XXXX to another nephew XXXX XXXX XXXX address XXXX XXXX XXXX , XXXX, In XXXX. The XXXX XXXX tracking number is XXXX XXXX. They picked up the money Tuesday XX/XX/XXXX. The buyer than told me to send the remaining {$250.00} plus the {$25.00} the XXXX XXXX charged as a fee. I told them to stop contacting me and they kept threatening me. Then he said that I should send the {$250.00} and the deal is back on and that they would send me a new check for the chairs. I stopped responding and checked my bank account. The amount of {$3400.00} was deducted. I called Chase and spoke to the customer service manager. I ask her what happened and she said the check wasnt endorsed properly and the funds where returned to the issuing bank. I explained that I had called on Saturday and they told me all was well they then said there was nothing they can do about it, even when I asked that they freeze my account as I think I might be at risk of identity theft. NOTHING they can. They also said that there was no way they can know this would happen. I was shocked. I then asked what does invalid endorsement mean as I've been depositing checks for years and I am very sure that I followed the proper procedure. They could not respond. Im available to provide any further information you may need.

Company response to consumer: Closed with monetary relief