Consumer complaint received 2018-01-14
Company: JPMORGAN CHASE & CO.
State: TX
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Direct deposit payroll from my company : XXXX XXXX XXXX XXXX XXXX of XXXX Texas was put on a 48 hour, RESTRICTION. 
I WAS TOLD, the restriction was due to the fact that the IT department did n't know how to allow ANY, deposit or transaction to occur ... .. after a Settlement check had been deposited the day before into my checking account, before the direct deposit was to take affect. 
Thursday XX/XX/XXXX I drove to my institution which is : JPMorgan Chase Bank ..i deposited a settlement check that I have received from a settlement ... the entire check was in the amount of {$4100.00} and some change ... after I deposited that Settlement check I also took out an additional {$30.00} out of my checking account ... they allowed {$30.00} to be withdrawn at that time .... out of my checking account however I was XXXX dollars overdrawn from the checking account ... .I assumed I had requested such a small amount from the settlement check of only {$30.00} dollars out of the {$4100.00} that they went ahead and allowed me the {$30.00} dollars cash, and that 's why they allowed it to go through the settlement check or clear from the settlement check not the overdrawn checking account .... the problem that I have is the fact that my direct deposit from my company ... which I have directly deposited my payroll checks from the company for the last three years, did not clear JPMorgan Chase bank until Saturday XX/XX/XXXX the direct deposit payroll check should have cleared on Friday XX/XX/XXXX not Saturday XX/XX/XXXX. 
I always get paid at midnight the night before so my checks clear directly on the night before I get, paid. 
so the check should have gone in actually at midnight on Thursday XX/XX/XXXX at midnight which would have technically been XX/XX/XXXX at XXXX XXXX midnight ... Which would have been the XX/XX/XXXX however because Thursday night I had deposited the settlement check the IT department put a restriction on my account or somebody else put a restriction on my account just because I had made a deposit the day before in such a large amount the entire account had restriction and the entire account would not allow for any deposit any transaction of any kind to go through ... a deposit or not, so I called and asked what the problem was and I called and spoke with the manager of the accounts department and I was told that the account was on restriction and I asked what for, ... .and i wanted to speak with a supervisor ... A supervisor got on the phone and said there was nothing they could do about it because the account was on restriction .... what I do n't understand is why my payroll check, that I was waiting on to clear the bank that I worked for, that has been directly deposited into that account have anything to do with that settlement check that got deposited??? 
I was not asking to take the money out ... I was n't asking for the {$4000.00} I was n't asking to take away or withdraw any funds other than the {$30.00} dollars I got Thursday night .... I was wanting to know why it was my payroll check had not been reflected on to my account and it was a direct deposit and has been for the last three years and they stated I was on restriction because of a deposit the night before. 
I need someone to understand that this is completely ludicrous unethical banking practices why are you going to restrict someone 's payroll direct deposit just because the day before they deposited money???? 
it makes absolutely no sense whatsoever to punish the consumer and not allow them to have their money and put them in a financial crisis ... they have no idea what they did to me, for that 48 hours. 
I am Not asking for anything to be done other than I need someone to be aware of these unethical practices you can not allow a bank to get away with that ... I have been a customer with JPMorgan Chase Bank since XX/XX/XXXX and like I told them on the phone when I spoke with them on Friday XX/XX/XXXX I will no longer be a customer of theirs as soon as I have all my ducks in a row I most likely will change Banks and go to some other financial institution because of this situation ... .. 
I find it absolutely ludicrous and unethical that a financial institution has that much power to hold people 's direct deposit, and see fit to it when too release the individuals funds, when it was directly deposited to begin with ... ... The saddest part about all of this was my payroll check was only {$930.00} dollars and I was asking access to my money that I worked for my {$930.00} was all I was asking access to .... I was not asking for access to the XXXX dollars ... 
I was asking for access to the {$930.00} dollars, that I worked for ... ...

Company response to consumer: Closed with explanation