Consumer complaint received 2020-10-26
Company: JPMORGAN CHASE & CO.
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On Friday morning ( XX/XX/2020 ), I attempted to access my Chase personal checking accounts ( two of them ) and was denied access and told to call them. After calling, being on the phone for about an hour and talking to a supervisor, I was informed that Chase decided to freeze both of my personal checking accounts and is terminating them. They also informed me that I can no longer bank with them. I have asked about my funds ( an estimate of {$1300.00} and {$980.00} ) since they are two accounts. I was told checks might be mailed out but it might take 10 or more business days. I completely understand that Chase reserves the right to close any account and for no reason, but I needed access to my funds. These funds are from family members and the NY unemployment office to help me support myself and pay my bills ( cable, cell phone, food, mortgage, electricity, XXXX, heating oil etc.. ) Now, all these bills are behind, further damage to my credit card score will be done, I will run into penalties and late fees and might lose some of these services. I am simply not in the position to be able to pay any of that without these funds. The NY unemployment office has been paying me for unemployment for the past 9 months ( since XX/XX/2020 ) and that was my main source of income during this Covid pandemic. After going to a Chase bank and spending 2 hours with a representative from there, Chase requested some documents from me to prove I was approved for unemployment. I was shocked, since the NY unemployment office has approved me and been paying me every week for 9 months and I maintain that eligibility. The NY unemployment office has not reached out to me for any errors, nor they stopped making my weekly benefits payments. Regardless, I provided Chase with the documents they claimed they have the right to ask for. Yet after that, I was told the accounts will be closed and my funds are frozen until further notice. I have no idea how a bank does this to its customers. They expect the customers to have additional money or other ways to survive while they freeze and hold their money? This has caused me a lot of emotional and mental stress, financial struggle more than being unemployed already and severe anxiety. I am unemployed, have no cash, have bills to pay and was collecting unemployment to survive this pandemic, but Chase decided to take my unemployment money. They also froze the funds and closed the account for my other personal checking account which had nothing to do with the account that was getting the unemployment payments being deposited into. Which I also do not understand why close both accounts even if Chase was trying to audit the account with the unemployment deposits? And they already assumed that I am committing some sort of fraud and closed the accounts? I have not committed any fraud, I contacted the unemployment office and they said everything is fine on my end. So I am not sure what this is all about but I need my funds so I can survive and pay my bills like all the other struggling Americans. 

Please help me resolve this issue as soon as possible. 

Thank you

Company response to consumer: Closed with explanation