Consumer complaint received 2023-11-09
Company: JPMORGAN CHASE & CO.
State: FL
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
This claim is against Chase bank for the credit cards that i have with them : business ink, slate and prime. For all XXXX accounts i sent in the coupons detached from the statements which were indorsed as the agent for the principal. These information was taken from their indenture act filed with XXXX on XX/XX/XXXX saying that I am the holder in whose name the securities are registered. All coupons were accompanied by instruction letters as to set off the account and bring it down to XXXX. The payment for Business Ink card was received by Chase on XX/XX/XXXX with USPS # XXXX XXXX XXXX XXXX XXXX. The Prime payment along with the letter was received by Chase on XX/XX/XXXX with USPS # XXXX XXXX XXXX XXXX XXXX XXXX. Slate card payment with letter was received by Chase on XX/XX/XXXX with USPS # XXXX XXXX XXXX XXXX XXXX XXXX. On XX/XX/XXXX i called chase and spoke with XXXXcustomer service and she confirmed that XXXX  of the payments were received and that no negative comments were put on the account for these payments by her colleagues from their correspondence team or payment research team that would usually put comments in if the documents or the payments were not in order. She stated that the payments should be posted in a few business days. On Monday, XX/XX/XXXX i received XXXX letters, XXXX for the the Prime account and XXXX for the Business Ink stating that Chase does not accept this kind of payment. The written communication contradicts the phone communication! The same day, XX/XX/XXXX i called Chase and spoke first with XXXX, then XXXX, then XXXX, He stated that was some sort of supervisor. He said that Chase does not accept this payment. At this time i quoted from the indenture act of 2016 saying that coupons are to be detached. I also explained to XXXX that I am the creditor since i put my signature on the application which then is taken to the Federal Reserve as per section 16 of the Federal Reserve act, my application became a security. I also said that the bank can not loan me any money since they don't have it. This is supported by 12 USC section 1431 which states the power and duties of the bank is to borrow money from me the creditor by completing an application, putting my signature on and using my SSN. I also asked to be transferred to another person who can assist with my inquiry. I also mentioned 18 USC section 8 in which is says that coupons are obligations of the United States government. As per 31 USC section 3123, " the faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government. As per 31 USC section 321 " the secretary of the Treasury shall prepare plans for improving and managing receipts of the United States Government and managing the public debt. I asked XXXX to send me the securities back to me. He denied several times that the coupons are not a form of payment that they would accept. In fact he said that he can not waist anymore time solving this predicament. I also mentioned to him that copy of the indenture that i was reading from was taken from the Security Exchange Commission website. I asked to be informed if there was any mistakes on my part and that i would like to get the securities back. To this statement he answered " When items are sent to us, they are scanned and then destroyed '' to which i answered that it was illegal for them to do that. He asked again for me to send a check, cash or money order.I asked again to have the securities send back to me. I repeated that they are not financing anything for me, that is was be who gave them a loan. I also stated that according to the publication of the " XXXX XXXX XXXX  '' published by the Federal Reserve Bank XXXX XXXX, the money is produced out of thin air and if it wasn't for me giving them the application, we would not be having this conversation. He affirmed that he would put in the request for the reissuing of the securities and be sent to me. XXXX supplied me with a mailing address for the executive office. Finally, i would like to be solved in a satisfactory manner. I kindly ask that Chase provides me with a copy of my original application and the contract between us showing equal consideration. I can not remember anyone at Chase signing any of the documents i signed. In addition i would like to get a copy of their accounting ledger where it shows the credits and debits or assets and liabilities on the public side as well as the private.

Company response to consumer: Closed with explanation