Consumer complaint received 2020-07-21
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
On XX/XX/XXXX I noticed that my main debit card was not working and called Chase fraud prevention. After a short period of walking through charges I was told that my card was cleared and ready to go. However, around three hours later I got a notification that I had {$0.00} in my account and there was a withdrawal for a XXXX check ( value- {$5500.00} ). I called again and was told that my checking account had been terminated. When asked why, I was told that the representative didn't know and could try to transfer me to someone with answers. After forty minutes on hold, the line went dead. This was a Friday. I called again on Saturday and was told that the account had been terminated due to suspected fraud and that my money could be transferred to a new Chase checking account if I opened one. I did and then was told this was a lie on Monday by another representative, however a check was overnight shipped on the XXXX and would get to me on the latest by Tuesday the XXXX. Since I was notified of the bank termination late Friday night. I sent a note to my HR department on Monday the XXXX. This was necessary as my paycheck is deposited into Chase on the XXXX and XXXX of the month. After some time they let me know that the earliest I would get my paycheck is the XXXX as the transfer was already submitted. At this point, I have {$0.00} to my name and I am out ~ {$7500.00} total. Additionally, I am moving into a new apartment and needed to pay fees ( first and security ) which were rejected since my account was closed. Chase refused to transfer money to the new checking account, to immediately send me a check, or to even provide me with a 0 % interest loan so instead my friend had to take out a $ XXXX personal loan so that I wouldn't lose my apartment. I called every single day ( except for Sunday when the bank is closed ) and on the XXXX ( 7 days in ), I was told that " it's a Friday '' so there are no managers working. I walked into a branch and politely asked for a manager. After waiting I was told, " just because you come in and demand a manager, it doesn't mean I have to drop what I'm doing to assist you. '' After some time he gave me a check number and said the check was issued on the XXXX ( overnight shipped ) and would arrive soon. I decided to visit another Chase bank on the XXXX for more guidance since nothing had been received and the banker was much more polite but had no answers for me. Please note at this point my credit point has been lowered, I have daily overdraft fees from the bank which Chase funds, and late fees from other payment systems such as XXXX. I called again on XX/XX/21 and was told that actually on the XXXX I called and said I was moving out of state ( absolutely did not happen since this isn't true ) and so they terminated my check. I had not been told this at any point and now it is one week later. They did not call for a new address and did not submit a claim to enter into my new checking account made explicitly because Chase instructed me to do so. A new request was made and I am told it will take six business days to process. At this point, I have had XXXX money for 11 days and still don't know when I will receive my new paycheck. I was told to call back for an update on Friday and am facing interest charges on the loan that I so desperately needed. Additionally, Chase is saying that they can not pay my overdraft fees and that they can offer no solution. Again, I have {$0.00} to my name and Chase Bank almost caused me to be homeless.

Company response to consumer: Closed with explanation