Consumer complaint received 2016-12-29
Company: JPMORGAN CHASE & CO.
State: ND
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
XX/XX/XXXX : I deposited a {$2500.00} check that was endorsed over to me to cash for a friend and pay him after the funds had cleared. Meanwhile my " available balance '' and " present balance '' were off by {$2500.00}. 
XX/XX/XXXX : Four days after depositing the check I received an email ( all written correspondence through bank is done via email and I never received anything through mail ) stating the check is under investigation and the funds would n't be available until XX/XX/XXXX. I was instructed to call the toll free number XXXX for any questions to this matter. *copy of this email is attached* Available balance and present balance still differed by {$2500.00}. 
XX/XX/XXXX : Thirteen days after depositing the check, it has cleared and my available balance and present finally match. However, before transferring the funds I wanted to check with the bank to ensure these funds were good as I did not want to be out of pocket. 
XX/XX/XXXX : Sixteen days after depositing the check, at XXXX CT I called the toll free number provided in the email to inquire about the check. I was told that everything looks good, I insisted that he double check before I transfer the money as I was leery of the XX/XX/XXXX email. He said everything looked good from his end but to be cautious wait till " tomorrow. '' *Note phone bill evidence* XX/XX/XXXX : Eighteen days after depositing the check, at XXXX CT I called the toll free number provided to again inquire about the check. This call was much shorter and I was told since its been over fourteen day the bank can not do anything and it is confirmed good. I now transfer all funds as I have been informed this will not put me out of pocket. *Note evidence of this* XX/XX/XXXX : Twenty-Seven days after depositing the check, Chase bank returns the check and debits my account for {$2500.00}. I would like to reiterate : I was told the date the funds would be available ; the funds were available on that date confirming the check ; was told in first phone call that the funds were available ; then told in second phone call that the funds were good ; all in all, I was told 3 times by Chase bank that these funds were good and finally after TWENTY SEVEN DAYS the check is returned!! *Note evidence of this debit* XX/XX/XXXX : I realize the check has been returned and call the toll free number provided. I am told that the check has bounced and that I am out of pocket, which I went through great lengths to avoid. I speak to XXXX people on this phone call, one of which was a supervisor and was effectively told that this is my loss. *Attached phone dialogue* In regards to this toll free toll line and on Chase bank, I feel like the ball was dropped on several occasions which is now costing me a tremendous amount of money. Firstly, in every attempt to call, nothing was noted on my account. I was told directly by the supervisor on XXXX XXXX that EVERY call is noted, however there is n't any notations on my account despite my phone records showing that I called multiple times on this matter ( note audio evidence time XXXX-XXXX ). Secondly, after the email on XX/XX/XXXX there was ZERO attempt by Chase bank to try and contact or protect me, their supposed valued customer. 
The Expedited Funds Availability Act ( EFAA ) was instituted to regulate deposit holds which Chase bank is in clear violation of, inevitably costing me a tremendous amount of money. Should the holds have been released and communicated to me in a timely manner I would not be without this money as I have made several attempts to prevent this from happening. Chase bank is insured by the FDIC for instances like this, however after this instance I do not feel covered or protected by the people I entrust my hard earned money with, Chase bank.

Company response to consumer: Closed with explanation