Consumer complaint received 2022-05-28
Company: JPMORGAN CHASE & CO.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
This claim is for Chase JPMorgan Banking Institution regarding a business account open since XXXX. In XX/XX/XXXX we received about XXXX fraudulent checks for an amount of around XXXX XXXX in total. The bank went through and paid those checks from the account without having our signature or even the name of the corporation. We asked for a refund to the bank and then after some calls they returned the value of those XXXX checks, and for that reason, the account was frozen to avoid more fraudulent transactions and the account was closed. I attached below the letters from the bank announcing the closure of the account and the final amount of the account that had a little more than {$5400.00}, which the bank would return to me in a transfer to my savings account. I only received {$4300.00} and there was an outstanding amount that I never received of {$1100.00}. I attached the last statement that specifies the amounts. I never received an explanation of why I did not receive the last amount mentioned. 

I called the bank to receive an explanation, and they told me that they withheld that money for about XXXX ACH credits that appeared in the unrecognized account. They explained that this is because the transaction said " XXXX '' and the corporation is called XXXX XXXX XXXX. They asked me for proof of those specific amounts to verify the legitimacy of the amounts, which I had to request an appointment at the bank, take those documents, validate those documents with a banker, and send them. When they receive the documents, they explained that they would investigate and that I would receive a response in 10 days where they would send a check, which I never receive. I called again and now the reason is that I must have a document that proves the DBA name as XXXX to make sure that XXXX works with that name. I had to enclose proof of the DBA name as XXXX, and the contract with the XXXX  XXXX, which is the entity that made the credits. I do not understand why they couldnt have checked the website, XXXX, where you can search up the corporation DBA names for proof, but I enclosed the documents anyways. It seems to me that they have no will to return that money and are looking for different excuses to not repay me that amount. 

I find it very strange that since XXXX we have been receiving both debit and credit ACH transactions every week with the Florida lottery with same the name, and the bank has a problem with it now. The bank sees the credited transactions to the account as doubtful, but not those that are debited. Furthermore, we have been working like this since XXXX without any problem of any suspicious transactions, but suddenly now it is suspicious. They told me that it was the bank 's mistake not having noticed before. Their argument stating that our corporation is not under the DBA name XXXX is completely invalid as I have proof that our corporation has had the DBA name XXXX since XX/XX/XXXX. I will attach this proof also. This is also easily checkable on the website XXXX, as I stated above. I am resorting to the CFPB so that Chase gives back our money and I am hoping to get compensation for them retaining our money for so long without any solid reasons. I have attached all the evidence in this regard to avoid any doubt.

Company response to consumer: Closed with explanation