Consumer complaint received 2019-11-28
Company: JPMORGAN CHASE & CO.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
This is to file a formal complaint with the Consumer Financial Protection Bureau regarding JPMorgan Chase Bank, N.A, which acted negligently and caused me serious financial and personal damages that need to be repaired immediately. Failure to do so will create even more severe and detrimental problems for me. I am asking for full reimbursement of {$5000.00} forfeited due to Chases negligence. 

I had issued a blank check ( check # XXXX ) to my soon to be ex-wife, XXXX XXXX. For personal reasons that I rather not discuss at this point, I decided to place a stop payment on this check. 

On XX/XX/2019 I requested a stop payment on check # XXXX. I requested the stop payment in person at the branch located on XXXX XXXX XXXX, XXXX, FL, XXXX, I spoke to Officer Relationship Banker MrXXXX XXXX XXXX, who was very helpful and even suggested placing the stop payment on the entire check book. Unfortunately, Mr. XXXX did not process the stop payment correctly. Ms. XXXX somehow learned that I had deposited {$5000.00} in the checking account, and proceeded to write the {$5000.00} on the blank check that I had given her and presented the check for payment. The check was paid to her in contravention of my instructions to the bank pursuant to the stop payment I had requested and paid for. On XX/XX/2019 Mr. XXXX acknowledged the error and processed a Branch Compliant Escalation Form ( attached ) and escalated the matter to a regional escalation department. 

On XX/XX/2019, a representative from the regional escalation department, by the name of " XXXX '', ( Senior Client Plan Representative ), contacted me and told me that while I had requested and paid for the stop payment, there was nothing JP Morgan Chase Bank, N.A. can do to make me whole for the  {$5000.00}. She indicated that this was a litigation matter between me and my wife. Additionally, this representative promised that a manager would again contact me to follow up on this matter within 48 hours. I have yet not been contacted by anyone from this department again. 

I am extremely disappointed that regarding JPMorgan Chase Bank, N.A, has acted in such a negligent way and now is simply  dismissing this matter as a legal issue between my wife and I, which is a contradiction with report in the Branch Escalation Form, where the bank employee clearly acknowledged and accepted responsibility for the error. 

I have been a client of JPMorgan Chase Bank, N.A for over 10 years and have trusted them with my personal finances. This error may be insignificant for JPMorgan Chase Bank, N.A, which is probably one of the largest banks in the U.S., but it is a true catastrophe for me. 

JP Morgan Chase Bank, NA acted in bad faith. Not only did they not apply the stop payment as I requested and paid for, but also they failed to inform of situations in which a stop payment would not be honored, and now they are simply dismissing the matter as if they had not caused the problem. In my humble opinion as a consumer trusting a large corporation, the way this bank handled this situation is a clear example of unfair and deceptive practices. 

I am very concerned with the issue. It is of upmost importance that I get the funds reimbursed as soon as possible. I need these funds to pay my attorney who is defending me in litigation. Not paying these funds will not allow me to formally engage his services. I am currently experiencing a very serious personal and financial crisis. This could result in severe legal and financial consequences to me. I am currently unemployed and I do not have access to any other funds to pay my attorney. Therefore, it is extremely urgent for me to get reimbursed as soon as possible. 

I would like to see what recourse do I have to get full reimbursement of the {$5000.00} as soon as possible. I trust that the Consumer Financial Protection Bureau is able to assist me in this matter. Please kindly contact me as soon as possible with an update.

Company response to consumer: Closed with explanation