Consumer complaint received 2023-04-18
Company: JPMORGAN CHASE & CO.
State: TX
Product: Checking or savings account
Sub-product: Savings account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
XX/XX/2023 at XXXX from me - submitted the following question to CHASE : " I recently drew down my account. Is there a monthly fee now that I have a balance of less than {$15000.00}? If so, I would like to close this account. '' XX/XX/2023 at XXXX XXXX  from CHASE- Thank you for contacting us. We're sorry you decided to close your account and hope you consider us for your future banking needs. 

At your request, we'll close your account and return the remaining funds to you by check if any. 

Here 's what you need to know : - The account will close when there are no pending transactions and there is a XXXX balance. 
- Please cancel any recurring transactions as soon as you can and set them up on another account. 
- Make sure your account has enough money to cover any electronic ( ACH ) debit transactions that may appear on your account for the current business day ( 1 ), as well as any previously approved debit card transactions. This could delay when your account closes.

- If your account has a positive balance, we'll mail you a check for the remaining funds seven business days after the account is closed. If you recently updated your address, we'll mail it 30 days from the account closure.

To receive your money sooner, please visit any of our branches. 
- If you transfer the funds to another Chase account, they will be available immediately. 

Here 's what will change starting today : - You won't be able to make purchases with your debit card. 
- You won't be able to deposit money to your account at the ATM, online, by phone, or at any of our branches. 
- You won't be able to withdraw or transfer money from your account at ATMs, online or by phone ; you must visit a Chase branch. 
- We won't make Overdraft Protection transfers, to or from this account, if you are enrolled.

- We won't charge monthly service fees or Overdraft Fees to this account.

- We won't pay checks written from your account.

When the account is closed, you won't be able to : - Access your account activity or statements through chase.com, the Chase Mobile ( R ) app ( 2 ), or Chase by Phone.
- Make recurring electronic deposits ( such as Direct Deposit ) and electronic withdrawals ( ACH debits ).

- Receive interest on interest-bearing accounts. 

Thank you for being a Chase customer. We hope you consider us for any future banking needs. 

We appreciate you being a Chase customer. 

Thank you, XXXX Chase Email Servicing ( 1 ) '' Business day '' is a weekday that isn't a holiday. If a request to close an account is received on a non-business day, it will be considered received the following business day.

( 2 ) Chase Mobile app is available for select mobile devices. Message and data rates may apply. 

XX/XX/2023 at XXXX from me - " My question was Is there a monthly maintenance fee now that there is less than {$15000.00} in the account? 

THEN, If so, please close the account. 

You didn't answer the first question. So I'm assuming that there's a fee when the balance is less than {$15000.00}. 
Is that assumption correct? 

If there is no monthly maintenance fee, I'll keep the savings account open and build it back up. '' XX/XX/2023 at XXXX from CHASE We thank you for writing to us about the XXXX XXXX XXXX on the savings account. I'll be glad to review your inquiry. 

We regret for any inconvenience caused based on the previous email response. Please know that we do not offer any no-fee account. Every account that we offer has a Monthly Service Fee. Depending on the account you have, we offer different requirements to help waive the fee. 

You have our Chase Premier Savings account. The {$15000.00} balance requirement is a daily beginning day balance requirement. If for any one day your beginning day balance falls below the daily minimum balance, the Monthly Service Fee will be charged on the last day of your statement cycle. However, if it is linked to your XXXX XXXX Checking account, a fee won't be assessed on the savings account. 

The Chase Premier Savings ( SM ) account has a {$25.00} Monthly Service Fee. We'll waive this fee for any statement period when : - This account is linked to a Chase Premier Plus Checking ( SM ) or Chase Sapphire ( SM ) Checking account, or - There is a balance at the beginning of each day of {$15000.00} or more in your account.

We are unable to re-open the account via this email. To discuss re-opening your savings account, please visit us at any branch. You may need to make a same-day cash deposit. You can save time at a branch by calling ahead to schedule an appointment with a banker. Find the phone number by searching under ATM & branch at chase.com. 

We appreciate you being a Chase customer. 

Thank you, XXXX Chase Email Servicing Important Information : The terms of the accounts, including any fees or features, may change. See the Deposit Account Agreement and Additional Banking Services and Fees for the terms and conditions associated with these products. Accounts are subject to approval. 

XX/XX/2023 at XXXX from me : Thank you for responding. You all have access to ALL of my accounts, yet, I still don't have a definitive answer so now, I need to check to see if the checking account you're referencing is the type of checking account I have when you could have easily said " you have an x checking account and it is ( or isn't ) eligible for a savings account with waived fees ''. If you all have closed my account based on your misreading of my initial email ( and despite the fact that it didn't have a XXXX balance ), I'm not inconveniencing myself to physically visit a branch to reopen it and I'll never open another savings account with Chase. 

This makes 3 contacts with an attempt to have a question answered and/or resolve an issue. This can't be considered customer care. 

I'm with you until my mortgage is paid off. 

XX/XX/2023 at XXXX from CHASE XXXX Thank you for contacting us. 

We're so sorry to hear about your unpleasant customer service experience. We strive to provide outstanding customer support, and it's disappointing when we fall short. This is never the type of experience we want you to have. 

Your feedback is important to us. We will share it with the appropriate team. 

We reviewed your now closed savings account. This account was linked to your Chase Premier Plus Checking ( SM ) which is another way to waive the Monthly Service Fee.

We're so sorry you decided to close your savings account.

As for your checking account, the Monthly Service Fee is being waived because it is linked to your Chase Mortgage with automatic payment.

We appreciate you being a Chase customer. 

Thank you, XX/XX/2023 at XXXXXXXX XXXX from me : " I DID NOT DECIDE TO CLOSE MY ACCOUNT!!!! ''

Company response to consumer: Closed with explanation