Consumer complaint received 2020-06-18
Company: JPMORGAN CHASE & CO.
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have two issues viz., Chase Bank enjoying float on my funds fraudulently and blocking online access to my spouse 's account without notice under the guise of suspicious activity with seemingly no way of reactivating the same ( details towards the latter part of the message below ... 

I deposited a check in my Checking account with Chase Bank at XXXX XXXX NJ branch on XX/XX/2020. This was for an amount of {$70000.00}. The check was drawn on my own account with XXXX  XXXX XXXX and was intended to payoff a part of my mortgage with Chase Bank. 

The same evening, XX/XX/2020, I got a text from XXXX  XXXX XXXX ascertaining I did issue the check and upon my confirmation, they debited my account. Upon finding the check was not credited in my Chase Bank account even as of XX/XX/2020, I visited the branch and met Service Associate XXXX and explained the situation. I also highlighted Chase Bank appears to be holding my credit and enjoying the float even as they continued to charge me on the Mortgage too - I was unable to make the payment as the funds were showing up on 'hold ' since XX/XX/2020. He referred the matter to the Branch Manager, Ms XXXX. Apart from repeating " This is a Limited Service Branch '' about 5-6 times in 3 minutes, she didn't appear to even understand the issue. She also mentioned I should go to the XXXX XXXX Branch if I needed full-service and that would require an appointment. When I stressed XXXX  XXXX XXXX has confirmed as far back as XX/XX/XXXX they've debited my account, she mentioned the money was " in transit ''. She further mentioned Chase does a lot of checks and they're allowed to " hold '' funds ( my funds ) if they found a deposit was not in keeping with the pattern of prior transactions. In fact, I  pointed to her I didn't make a cash deposit but presented a check from another large bank in the US. 

I started my career in XXXX before getting into XXXX XXXX. To me, this sounds a classic case of the bank enjoying customer 's float in the guise of complying with regulations and cheating the customer. 

I had to even go the route of depositing a physical check because, without any notice, they blocked my wife 's online access ( she's a joint-holder with me on the aforesaid Checking account ). That again hasn't been released since XX/XX/XXXX or XXXX when it was originally blocked. Now, how's this connected. My wife and I prefer online banking as the in-branch service has never been satisfactory. The XXXX  XXXX XXXX account from where I sought to transfer funds is listed as an external bank only through her online access ( Indeed, it's my account, but Chase doesn't allow me to link it to my online access - even though my wife and I are joint holders of the Checking account at Chase ). Earlier this evening, my wife spent more than one hour with the phone-banking executives at Chase who weren't able to unblock her account towards online access. 

I appreciate the Ombudsman 's office looking into this and helping us out. Thank you. 

Regards, ...

Company response to consumer: Closed with explanation