Consumer complaint received 2022-03-04
Company: JPMORGAN CHASE & CO.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem making or receiving payments

Complaint:
Hello, I have a business account with Chase bank that was established in XXXX. I work with an international company who has consistently sent me monthly payments as part of a retainer for my services. I have been working with this company for the last 2 years and have never had any issues arise from any incoming wire transfers made to my account. On XX/XX/XXXX my monthly retainer ( {$8300.00} ) was wired to my business account which normally clears the same day. I did give it a day before reaching out to the sender to check the status of payment. We spent 3 days digging in to the status where I found out on XX/XX/XXXX that it had already been processed and completed on XX/XX/XXXX. I then decided to reach out to Chase to figure out what was going on with the funds and if for some reason they were being held. I spent the entire day trying to get a clear answer as to what the status of this wire is and have been passed along to a number of different departments whom each have given me a different reason. The first rep I spoke to advised that the wire was scheduled to be credited to my account on XX/XX/XXXX but that she would transfer me to the wire transfer department to see about getting it credited immediately. The call was disconnected so I called back and spoke to another rep who advised that the wire was still processing and the funds had not yet been received. I began to find this suspicious as the rep prior to her gave me a very different answer so I called back to speak to someone else who advised that the wire was being reviewed and that I would need to send a secure message to the wire department requesting for this review to be expedited. I then reached out to a banker who works at a branch located at XXXX XXXX XXXX XXXX, XXXX, FL XXXX named XXXX who promised to look in to this for me. He called me back and advised that the wire research team needed more information regarding this wire and to call XXXX. I called this number and spoke to a rep who began to ask for the necessary information and then the line was then again disconnected. I called back and spoke to another rep who said I needed to send a secure message to the wire team with the company name, address, website and nature of the business as part of the wire research being made on this wire. Due to the fact that I have had a number of different reasons as to why the money is being held I have now grown not only frustrated but very suspicious as to why these funds are being held as I can not seem to get a straight answer. If further information was needed why would Chase not contact me or the sender to receive this? Why after many successful wires from this company do they now need this information? Why after 5 years of being a client am I not being provided better service than this, and now even more suspicious why was a wire in the amount of {$89.00} from the company they apparently need more information from credited to my account this morning XX/XX/XXXX with no problem but my XX/XX/XXXX wire seems to need more information even though it is from the same exact company? I have spoken to countless reps and even a banker whom none seem to want to help or give me a straight answer so am turning here with hopes of getting some assistance as all I have been looking for is some clarity on the held funds and a timeline as to when I can expect for them to be released.

Company response to consumer: Closed with explanation