Consumer complaint received 2021-04-06
Company: JPMORGAN CHASE & CO.
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I have been a Chase Bank customer for 35+ years, started when it was part of a small branch bank in a XXXX suburb. That branch bank was then merged into XXXX, XXXX, XXXX XXXX, Chase and JP Morgan. I have had 2 mortgages with them and several business accounts over the years. All paid on time and never late and never an NSF charge in the 35+ years. I check my account everyday several times checking to make sure each transaction is accounted for and is actually mine. So XX/XX/XXXX, I check my account, and it was accurate. I then went to my local branch and tried to make a deposit, and the deposit was not accepted at the ATM with a printed slip saying " transaction denied ''. I thought it was the machine and went inside and the teller said my account is terminated. WHAT????? I went to speak to an associate and my account showed call Fraud and Loss department. The associate called them and they indicated " Chase Bank has decided to terminate their relationship with me ''. WHAT???? I said I am not a criminal and have no criminal or fraud record. I have been employed with the same company for 25+ years, and my deposits are from the same company for 25+ years. All my deposits are checks ( maybe a few were cash, after receiving a gift and not wanting to keep large bills in my wallet ). My income and expenses are pretty much the same for 10+ years, there is no sudden {$60000.00} car purchase. There are no international incoming or outgoing wires. I was told by the representative, the decision is final and you are no longer a customer and they do not have to provide a reason why they terminated me. I could have fallen to the ground. I have several personal bank accounts around town, have real estate loans with other banks, and have never been treated like a criminal. 

I then received a notice in my online account on XX/XX/XXXX, the day after, that my account has been terminated, even though it was actually terminated on XX/XX/XXXX. There was a number to call to get it possibly reinstated, which I called, and they said the account is terminated. I would never had known, unless I went to the bank on XX/XX/XXXX. On the letter received XX/XX/XXXX, it mentions i did not provide the requested information? What requested information? I have a screenshot of my account and the only notice in the past 30 days was the letter from XX/XX/XXXX. 

A friend of mine 's wife is head of XXXX XXXX XXXX and reached out to the head of XXXX XXXX, but no response. A Chase branch manager did reach out to me and said there is nothing that can be done and Chase does terminate accounts with no notice and will not provide the reason. That was so alarming to me, how does the average consumer trust their bank, if they can terminate your account in the middle of the night and your financial lifeline is closed. 

In one of my many conversations with XXXX - anybody at Chase, I said to them, the checks outstanding were written to help soe individuals get back on their feet and get groceries. I said I dont care about me, but please for humanity reasons, please honor those small checks still out on my account, that were written prior to the termination. These individuals are innocent, did nothing and will not only not get the money I am giving them, their bank will charge them fees for a check coming out of a terminated account. I got the canned corporate response, " Chase does not honor checks from a terminated account ''. I pleaded with them, please, many individuals have gone threw incredible pain the past 12 months with the pandemic, don't make their lives more miserable and let those checks clear from the funds in my account. 

My wife found out from a social group on XXXX within our neighborhood, over 10 people have had their accounts terminated by Chase. This was from a small sampling of probably a few hundred people. 

I have searched online and find that Chase does in fact do this action. I have made a complaint to the XXXX, and will follow up with the SEC and Consumer Financial Protection Bureau. I will also reach out to the 3 tv stations in XXXX and producers at XXXX, XXXX XXXX and XXXX. I will also reach out to every member of the Finance Committees in the House and Senate with my story.

This is a story of someone who works 16 hours a day to provide a better life for their family, than I had. There is no illegal activity or fraud. I am sharing this story, as this could happen to any other Chase customer, this only happens in XXXX XXXX, where they purge your bank account in the middle of the night with no notice. 

The US consumer has to have faith and confidence in their banking industry, their life savings are housed with the bank for their security. Cutting someone's financial lifeline is like taking away their ability to care for their family. Chase has done this before and this should not be allowed. I will be okay, and forget the 35+ year relationship I had with Chase , but it is those that have 1 bank account and their life savings are in a bank like Chase.

I will not stop until executives from Chase are brought forward in front of the finance committees and answer how they have the consumer 's trust, if they terminate accounts with no notice and do not provide the reason.

I hope you will give my story serious thought, as I want Chase to provide confidence to the consumer, that they will not purge people 's accounts with no explanation or no advance notice. The customer is a customer, until they are a proven criminal. I am a 35+ year customer. 


Thanks, XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation