Consumer complaint received 2021-03-02
Company: JPMORGAN CHASE & CO.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XX/XX/XXXX I was told by Chase credit card rep that there was a problem with my bank account. On XX/XX/XXXX I went to the branch to find out that someone was added onto my account, and that person withdrew {$30000.00} from my savings account. This took place in Florida on XX/XX/XXXX. Both my checking & savings had been frozen. XXXX helped me begin my claim at the branch. I initiated a fraud claim over the phone with XXXX on XX/XX/XXXX. I was told the investigation would take up to 30 days. On XX/XX/XXXX I found out my accounts were closed. XXXX told me that an affidavit will be mailed to me in 7-10 days. XXXX told me that the remaining funds in my account would me mailed in 5-7 business days. XXXX explained the details of the actual fraud. ( Total of 3 withdrawals made. ) On XX/XX/XXXX I received and submitted the affidavit. On XX/XX/XXXX XXXX told me my funds were suspended because I received an SBA loan which was deposited into a personal account. As an XXXX XXXX XXXX I qualified for a {$1700.00} SBA loan in XX/XX/XXXX. Since a personal checking account was used, I had to provide proof of business, and that I was the intended recipient of the loan. I contacted the SBA and was told to send them the signed loan agreement. On XX/XX/XXXX I submitted XXXX Schedule C form, SBA loan agreement and approval documents. I also submitted the full police report for my initial claim. On XX/XX/XXXX XXXX told me the theft claim was still open, no updates. On XX/XX/XXXX XXXX told me I needed an EIN to receive any funds. XXXX XXXX XXXX XXXX  is not required to have an EIN by the IRS or the SBA. ) She said, " those agencies are External Operators. This is Chase policy. '' And that they can hold the money for 2 years before sending it back to the Treasury. I was told " this was not my money! '' I filed for an EIN online and submitted proof on XX/XX/XXXX. On XX/XX/XXXX XXXX told me the initial claim was still open. Call back next week. XXXX told me my documents were being reviewed. Call back next week. On XX/XX/XXXX XXXX told me the initial claim was still open, no updates. XXXX was then reviewing my submitted documents, but we were disconnected. Called back and spoke with XXXX. After reviewing my documents she checked with a manager for approval to release my funds. I was told that now the problem was that I was receiving Unemployment benefits. She asked, " Are you receiving UI for someone else? Why are there 2 payments each week? What's this {$300.00}? '' I don't believe that Chase bank does not know that Congress has passed stimulus bills that issued these PUA funds. The entire country knows this. I was asked to validate all of my UI payments. I submitted DOL documents on XX/XX/XXXX. XXXX with XXXX on XX/XX/XXXX regarding initial theft claim. I was told they never received the police report. ( faxed XX/XX/XXXX ) Spoke with XXXX about the suspended funds. I was told they never received the Unemployment documents. ( faxed XX/XX/XXXX ) Re-faxed and emailed all documents on XX/XX/XXXX. I was told to call back later that day. Later I spoke with XXXX regarding the suspended funds. I was told that all my documents were insufficient. The funds will remain suspended until I can provide proof of EIN prior to the date of the SBA loan. I told her that was impossible, the EIN did not exist at that time. ( I was and am not required to have one by the IRS or the SBA ). " Well, that's what we require. '' I have 2 years to provide that document before the money is returned to the State. I spoke with supervisor XXXX who repeated the same thing. I asked about releasing the rest of my money, minus the loan amount. ( {$13000.00} plus {$30000.00} stolen ) All funds will remain suspended until I provide a " backdated '' EIN. He will submit my request, but expect it to be rejected. He said they may release my Unemployment payments. ( May give me my Unemployment? ) These are Government funds! The SBA loans are Government funds! Pandemic Assistance provided by the Federal Government, and New York State. 
As an independent XXXX I file my income taxes as a XXXX XXXX. And EIN is not required as a XXXX XXXX. I teach XXXX XXXX to senior citizens. Much like many Americans, I have been out of work, or underworked, during this pandemic. I qualified for PUA benefits, which are Government funds. I qualified for a small SBA loan, which are Government funds. I, along with many independent XXXX, have had the help our Government has provided taken away. Chase has held ALL of my money now for 2 months. I would like my money returned, and Chase to be held accountable. The Federal and State Governments are helping so many people during this pandemic. Chase is taking away that help. They are " Holding '' ( Stealing ) not only these Government funds, but all of the money that has been deposited into our own bank accounts. Our money is supposed to be protected by bank regulations. I find it hard to believe that Chase Bank has more authority than the U.S. Government.

Company response to consumer: Closed with monetary relief