Consumer complaint received 2022-02-02
Company: JPMORGAN CHASE & CO.
State: CO
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:
Very simply put, Chase staff members inexperienced with wire transfers out of XXXX of the local branches have cost me {$3400.00}. I went into the Chase branch at XXXX XXXX XXXX XXXX in XXXX on XX/XX/XXXX to complete a wire transfer in USD to a XXXX account in XXXX ( {$76000.00} USD ). When the teller was completing the transfer, I sent a screenshot of the provided documentation to my lawyer in XXXX to where she replied and told me that it appeared that the bank was processing the transfer in XXXX currency, which would cause a problem. I immediately went back into the bank and informed the teller of the issue. She very quickly went from pleasant to annoyed and told me that there was nothing they could do out of the branch since the transfer was now pending and gave me an XXXX number to call while dismissing me so she could assist the next person in line. I told her that I would be calling from the branch and that I would like to speak with the manager for further assistance. She told me the manager was out sick and that the person filling in was about to leave for lunch. I then noticed a gentleman getting up from XXXX of the desks and putting his coat on to leave so I quickly went over to him while dialing the number that the teller gave me on my cell phone. I explained to this person what was going on and apologized for interrupting his lunch break but that I needed to ensure this transfer was processed properly. He was polite and agreed to stay there with me while I called the number, and also witnessed the person on the phone telling me that they could confirm that the amount was being transferred in XXXX so there was nothing wrong and no reason to cancel the transaction. 

After learning from my attorney that following XXXX XX/XX/XXXX, that the transfer DID go through in Jamaican dollars and as a result of the error by the Chase teller, I was charged several additional fees for multiple currency exchanges taking place to get the money deposited into her XXXX account there on the island, I went into the bank branch at XXXX XXXX XXXX XXXX for assistance in getting things corrected. I told them that the amount that ended up being deposited as a result of the error made by your teller was {$72000.00} and provided them with a screenshot sent from my attorney. A difference of {$3400.00} which caused me to withdraw another {$4000.00} from my savings account and go to my husband 's bank to transfer the remaining balance as I had XXXX confidence in Chase completing things properly at this point. 

After working with the XXXX branches locally, and also working with someone through the Branch Complaint and Escalations department ( reference # for the claim noted in a previous email exchange below ) they are telling me that it is the branch manager 's discretion on whether or not they will refund the monies to me and so far, I am being told by the XXXX branch that they are getting pushback from the XXXX XXXX location on this being approved. 

I have been extremely patient with your people and your process. I have been understanding around the fact that no one on the staff at the local branch on XXXX XXXX was familiar with the process for immediately correcting an issue with a pending wire transfer, and also with the fact that the Wire Transfer department that your staff and I called that day together from the branch provided false information around the amount " definitely being transferred in XXXX currency '' and also that the " acting XXXX '' that was there filling in the day I initiated the transfer had only been employed by Chase for XXXX days and admitted that he wasn't sure what to do to correct things, but told me worst case scenario " we will kick the entire transfer amount back to you within XXXX hours. '' Clearly that was incorrect information however, I never thought that your bank would allow this error on your end to cost me over $ XXXX. 

I have been a customer of Chase for many years. In fact, you can see that my mother 's name is still on the backend of my account as she had to co-sign when it was originally created because I was a minor. I have both a checking and savings account, as well as a credit card account and also my mortgage with you currently. I have been a fan, and have sent a lot of business your way because of that. The customer experience that I have been a part of over the last month is quickly starting to reverse any positive interactions I have had with your company and is also having me look into other options for banking and my home mortgage. 

The above correspondence was sent to the Executive Escalations team at Chase in an attempt to get some assistance. I was called today, XX/XX/XXXX and told by their XXXX XXXX XXXX that research on case # XXXX has been completed and that I will need to wait to see if the intermediary bank that completed the second part of the transfer will refund the money because they are not going to accept that this was an error made by Chase since XXXX signed the form to complete the wire transfer. I explained to XXXX that I only signed after asking why the amount showed in both XXXX and XXXX dollars and the teller assured me that it always shows that way just so the customer can see what the currency exchange would be. Obviously this was incorrect information, but I entrusted the bank to know the process as this was my first time completing a wire. I also reminded her that everyone in both of the branches that I worked with after this happened told me that the teller had to have processed the wire incorrectly by manually selecting that the funds go through in Jamaican currency, thus admitting fault. She told me that she had to go with what the XXXX XXXX showed to complete her research. She clearly isn't considering the email chains I have with the branch where they also admit fault and own the fact that the error was obvious. 

Please help me with getting the funds back that the incompetence of employees at Chase have cost me.

Company response to consumer: Closed with explanation