Consumer complaint received 2021-01-09
Company: JPMORGAN CHASE & CO.
State: MA
Product: Checking or savings account
Sub-product: Savings account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
On XX/XX/XXXX I received an email solicitation from Chase regarding a promotion it was offering through XX/XX/XXXX. I have been a Chase credit card holder for more than a decade, and previously had a Chase bank account in XXXX, but no longer bank with Chase. The promotion offered customers the opportunity to earn a {$500.00} account bonus by completing certain simple activities : opening a new Chase savings account with a deposit of {$15000.00} for {$200.00} bonus ; opening a new Chase checking account with monthly direct deposits of {$500.00} or more for a {$200.00} bonus ; do both, get an extra {$100.00}. On XX/XX/XXXX, I clicked the link and followed the steps to create both accounts, which was done successfully. I had 30 days to find the account. On XX/XX/XXXX I initiated a fund transfer of {$15000.00} from my XXXX savings account. Chase informed me that this transaction would be processed on XX/XX/XXXX. Again, this is funding the accountmoving money from XXXX to Chase. I noticed on XX/XX/XXXX that the transaction did not occur. 

On XX/XX/XXXX, I phoned Chase to inquire why the transaction had not occurred and I learned that the transaction had been cancelled because Chase tried to phone XXXX and could not reach anyone at the bank to verify my ownership of the originating account. This seems odd. I never received any email alerting me of any difficulty with the transaction. I never received any email alerting me that my transaction was cancelled. I have the Chase app, and I never received any alerts. I went through an electronic verification process with Chase fraud prevention. I was told that unless Chase could, on its own, speak with XXXX, there was no way for them to verify the account. The agent suggested I visit a branch with a XXXX statement. I told her that I am immunocompromised and cant do that due to the COVID pandemic. I offered to send her a PDF of my statement, but she told me Chase has no way to accept it. I then spoke with a Fraud Prevention Supervisor, who had no ability to do anything more. He told me he took my complaint, but that it is Chase policy that Chase does not, under any circumstances, follow up with customers who file a complaint ; it is merely treated as feedback that a team looks at in the aggregatenever on an individual basis. I provided him with the XXXX phone number that I have used as a customer, and which I was able to access during our call, but he said when he attempted he got disconnected. I asked why the customer isnt provided any opportunity to verify the account, and he said its new policya policy, I imagine, that went into place just as the offers were being made to customers. I believe the offer was on its face fraudulent and Chase put into effect roadblocks under the guise of fraud prevention to inhibit customers from meeting the eligibility qualifications ; Chase lacks the support services to enable customers to achieve a resolution or to properly register complaints ; Chase has likely designed this scheme to enable to charge unnecessary fees. I feel stupid for having fallen for this offer.

Company response to consumer: Closed with explanation