Consumer complaint received 2022-09-11
Company: JPMORGAN CHASE & CO.
State: OH
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Fraud or scam

Complaint:
Companies involved : JP Morgan Chase and XXXX On Saturday, XX/XX/2022 at approx XXXX ( est ) I put a speaker set up for sale at {$350.00} on the XXXX XXXX XXXX XXXX At XXXX ( est ) a user by the name of XXXXXXXX XXXX XXXX XXXX XXXX XXXX contacted me by XXXX XXXX asking if the product was still available and wanted to pick up that day. XXXX asked if I used XXXX so she could transfer the {$350.00} to my account. XXXX was available through my Chase app and I set it up. XXXX asked me for my email address to find my XXXX account - ( I didnt think anything of it because this is normal with XXXX XXXX XXXX XXXX XXXX but this is how she was able to send me the scam emails I received later. ) XXXX stated she transferred the {$350.00} and sent me a screenshot of a XXXX XXXX XXXX confirmation ( I assume this was fake ). I never received the money, but then received an email that the money was put on hold because of a {$200.00} limit. That in order to release the {$350.00} I needed to refund the buyer {$200.00}, then I would be refunded {$550.00}. 
I first called XXXX, and asked why the money was on hold and why my account needed to be upgraded to a business account. Ive never heard of this practice. Why did I need to refund the buyer {$200.00} to get my money. XXXX told me it wasnt their problem and I had to call my financial institution. AT THIS POINT they could have told me they do not do this, and it was a scam. 
I called JP Morgan Chase, and explained what was happening. The representative thought it had something to do with how I set up my account. I had my phone number as my primary and not my email. So that would not allow the money to come through. At that time she told me she saw where a transaction had declined and did not go through. But my limit was {$2000.00} for my XXXX so she didnt understand why account needed to be upgraded. IF THE SCREEN SHOT WAS FAKE, did the rep even see a declined transaction? 
I talked XXXX and JP Morgan before I sent the {$200.00} to the scam/fraud individual. After I sent the money, I got a second email saying I needed to send another {$300.00}. At that point I knew it was a scam. XXXX left the chat, she knew they had been caught. 
I called XXXX back, told them what happened. I gave them the email address XXXX and they verified that it was not their email and I had been scammed. There is nothing they could do, they have nothing in their process/policies to reimburse customers and that I used XXXX at my own discretion knowing the risk. They recommended I call Chase to see if I could file a claim. 
I called JP Morgan, explained everything above. They transferred me to their claims department. They told me the same information that my report was not eligible for review because I used XXXX at my own discretion knowing the risk. I told them I was disappointed in the service because I trusted them with my money. I called not only XXXX but Chase asking for their support before I even sent the scammer the {$200.00} and I was led to believe there was no problem or concern. 

All of my calls should have been recorded and account noted. Its truly disheartening to know that I contacted both companies before the transaction took place because I questioned it, and no one said anything. XXXX especially had the opportunity to tell me that the business account and refund request was not apart of their practice. It would have stopped everything before it happened. I tried to do the right thing, ask the right questions. But neither company wants to help me recover my {$200.00}. If it had been money on a JP Morgan credit card you bet their fraud protection would kick in and recover whatever amount was taken. But XXXX the customer. Train your employees better on fraud protection, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and we take it seriously. After this incident Im strongly considering closing my Chase account and moving to XXXXXXXX XXXX.

Company response to consumer: Closed with explanation