Consumer complaint received 2018-12-06
Company: JPMORGAN CHASE & CO.
State: MI
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Confusing or missing disclosures

Complaint:
On XX/XX/18 I, myself and my Business partner opened a Business Account with XXXX Private Client Banker at Chase Bank and I, myself applied for a Business credit card as well. On XX/XX/18 we returned to the same Chase Bank so that I, myself could deposit my Retirement Refund check into that Business Account. Upon arrival the bank teller informed my Partner and I that our Business account had been restricted. We were then told we would need to speak with one of the personal bankers. We spoke with XXXX  Personal Banker which informed us that our Business Account was now closed and the system isn't telling her exactly why and to call XXXX option 1. I, myself called the toll-free number that was given to me from the Branches Personal Banker XXXX later that evening and I was informed that the Business Account was closed from the gentleman at that toll-free number. ( The conversation is in a recorded link  attached to e-mail ) To make a long story short, he didn't offer any insight as to why the Business Account was closed. No one can tell us why our Account was opened then closed. Also, the toll-free rep informed I, myself that I could go to any Chase Bank and get the money that was deposited into the Business Account back. On XX/XX/2018 my Business partner and I returned back to the same Chase branch where we opened our Business Account to collect the {$25.00} dollars that were deposited into the Business Account. Upon returning back to the same Chase Bank Branch the Bank teller informed us that we would have to see a Personal Banker to retrieve our funds. To our surprise we spoke with the same banker which was XXXX  the Personal Banker again. I, myself then informed her on what the toll-free rep told me about the Business Account and that I would like to have the money back from the closed Business Account. XXXX  Personal Banker asked me if the toll-free Rep was able to give me a reason as to why the Business Account was closed. I then informed her that the Toll-free Rep couldn't and wouldn't provide me with any information. I asked XXXX the Personal Banker that had been with the company Chase Bank for over 20 years ( 23years I think to be exact ) does Chase bank use XXXX. XXXX Chase Personal Banker told me " no '' Chase does not use XXXX. That prompted me to ask My next question which was, what system does Chase use? She couldn't answer my questions so then I asked her how is Chase determining an individuals/Partner or Businesses relationships, she had no answers to my questions. I, myself highly appalled at this highly experienced personal banker ( that has been with the company for over 20years ) not being able to answer these important questions. After asking her those questions and not getting any answers. I expressed my concern about applying for the Business Account Credit Card and how the inquiry brought my personal credit score down and the negative impact that it has on my personal score. Which further concludes my concern to what systems are Chase Banks using. I informed her that the decision Chase Bank has determined is fine and that I would like to retrieve the monies that are in that Business Account. After 30 minutes of her making calls we only wanted the {$25.00} dollars from the Business Account because we decided to open our Business Account elsewhere. Moving forward XXXX  Personal Banker was skeptical about returning the {$25.00} back to us saying she didn't want there to be any repercussions to returning the funds from the Business Account. I, myself along with my Partner told her that we didn't want her to get in any trouble just mail us the {$25.00} dollars to the address that was provided along with her taking my cell phone number. We left without our {$25.00} dollars nor an explanation.

Company response to consumer: Closed with explanation