Consumer complaint received 2018-03-05
Company: JPMORGAN CHASE & CO.
State: IL
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Transfer from an external account I believe that bank to bank transfers are being used a vehicle to target uneducated consumers and entrap them in a scenario that creates fees for banking entities. 

I would like to list both banks in my complaint Chase Bank XXXX XXXX XXXX XXXX XXXX , XXXX XXXX IL XXXX ( XXXX XXXX ) : XXXX XXXX XXXX XXXX , XXXX , IL XXXX Stating that funds were NSF when that was not accurate information when requesting documentation to support the claim of NSF I was told by the self proclaimed " Acting Branch Manager '' XXXX XXXX XXXX " she can not provide such documentation '' when asking for someone with the authority to provide information pertaining to my account she stated quote " I'm Done '' asked me to leave the property and threatened the police be called to escort me from the premise. I left willingly, went to an alternate branch and they did provide the documentation supporting transaction remark " NSF ''. 

The reason for the request for documentation is because this is the 2nd time this has happened to me in less than 60 days. Both situations causing fees to be applied to my accounts XXXX XXXX XXXX : XXXX XXXX XXXX XXXX # XXXX, XXXX, IL XXXX ( XXXX XXXX XXXX XXXX XXXX La XXXX XXXX, XXXX, IL XXXX Stating, " funds were available and they never received notification to know that this Transfer attempt was made ''. However, I disagree on a technical level, when initializing the transaction from my chase banking app, it verifies that the funds are available prior to the transfer attempt. A record for a pre-authorization has to exist in one of the system but my experience has lead me to believe that both sides are not forthcoming with information. 

This experience has been troublesome and I would imagine that I am not alone. The actions taking place in backoffice communication between the 2 banks is not transparent to the consumer and thus the consumer should not be held responsible for such fees. 

The ability for Chase to post money as available, hit the account, stay for a couple of days and then the funds be refunded back to the original bank, is predatory, as it creates a condition for unsuspecting consumers to be penalized for something outside of their control. I do not know why XXXX did not pay Chase or post NSF as a reason this XXXX account being debited had a {$3000.00} revolving balance for more than 120 days including the date of transaction {$3000.00} + Money was transferred and then days later purchases made, then funds refunded back to the original bank with a descriptor " NSF '' which is false. Also to add that the most expensive items posted first so small XXXX and XXXX dollar transactions each incur a {$34.00} fee. 

Due to this, reverse transfer, I bounced a check to my employer which now creates credibility issues as I am a XXXX with direct access to financial information ( currently ). When I seek the ability to purchase a home, NSF or insufficient fund activity can serve as a placeholder for credit worthiness. If I dispute the charges placing me in the negative my credit is impacted when this goes to collection. If my credit is impacted ; this ties to my Car insurance, Health Insurance, Home owners insurance and overall credit worthiness. 

As a person who is becoming educated and actively undergoing credit restoration and repair I have learned that Studies show an impact of 30 points can take 3 years to get removed costing hundreds of thousands of dollars over the course of a lifetime. This game that is being played, at my expense, could cost me alone hundreds of thousands of dollars in a lifetime if I do not comply and pay Chase, the predator and pay them. 

This seems quite relevant. 
XXXX XXXX XXXX XXXX XXXX  XXXX XXXX, XXXX, Case No. XXXX

Company response to consumer: Closed with explanation