Consumer complaint received 2021-11-24
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XX/XX/2021, we received from XXXX XXXX XXXX of XXXX a check for {$710000.00} representing a loan. I deposited the check immediately to our Chase checking account since we needed the funds to be available for our ongoing real estate transactions. 

On XXXX XX/XX/XXXX, I needed {$200000.00} to close a transaction. The Chase representative, told me that the funds were not available until XXXX. I was very disappointed. I had no choice but to wait until XXXX. 
On XXXX XX/XX/XXXX, which is XXXX days after deposit, I went to the XXXX in XXXX XXXX and I asked for a wire transfer to XXXX XXXX company. Chase representative told me that the funds were not available. I was shocked. It was unbelievable. I was under enormous pressure because we were not able to close our transaction. I asked the representative what was the reason we could not dispose of our money. ( Unfortunately, this bank is a large open space with dividers. There is no privacy. Everybody can hear everything ). Suddenly, the manager of the branch showed up and said : you can not send a wire transfer today. It is too late. It is going to go out tomorrow. I was extremely frustrated and upset. I said : Lets not talk about the wire transfer. Lets talk about " the hold ''. Why is there a hold? Why are we still not able to access our money? She said : it takes time I said how much time do you need? She said We have to verify where the money is coming from. I said : this is a check from a title company. This a loan and we are paying money on it every day. She said it takes more time when there is a week-end. Out of frustration, I repeated my question again : I need to know why there is a hold on our money? She replied : Because this is a large amount of money I was stunned with this response. My reaction was : It doesnt make sense. The larger the amount, the longer the hold? She said : You have to leave now I said No I need to clarify this now I was hoping that she would take the phone and call the headquarter and solve this problem. But no! Instead, she said : If you dont leave, I will call XXXX. Not only I was ordered to leave without wire transfer, but, in addition, I had to be humiliated because I was asking questions to clarify the situation. 

I want to file this complaint because I feel the manager of the branch was unprofessional ; she did not solve the problem. She was not helpful. She humiliated me. 
Months ago, I did deposit large sums of cash in this branch. The counter top is high, up to my nose. The representative in an open space- had to manipulate behind the counter, out of my sight, multiple bundles of XXXX of dollars I handed to her. Then she placed a machine in front of me and let the machine count the money. {$100.00} just disappeared. What happened? I have no idea. But for sure something happened. A representative filed a complaint for me. What happened to that complaint? As of today, I did not hear anything from Chase or branch manager. The least a manageXXXX could do is not being careless. Clients expect a manager to be professional, making transactions safe and customers happy? 
Our money being on hold by Chase for such a long time is unfair and abusive. 
Here is another example of Chase failing to do what it takes : I needed cash and I went to the branch at XXXX XXXX in XXXX. The representative did put the money in the machine the machine counted the money very fast and the money was handed to me. I re-counted next to his window. It was short of {$200.00}. I told him that it was short. He argued with me. I said : listen, I dont have any {$100.00} bills on my purse. The only bills I have is what you gave me and it is missing {$200.00}. He went around and came back with {$200.00} and he said : this was stuck inside the machine.

I am very unhappy with Chase practices. I would appreciate a detailed explanation from Chase to this letter. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation