Consumer complaint received 2017-09-01
Company: JPMORGAN CHASE & CO.
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Around XX/XX/XXXXthis year, I called Chase Bank about an account in my daughter 's name that went dormant. The representative was not able to find the account in question. I called the bank another time and was told again that they could not find the account. In XX/XX/XXXX, I received a letter in the mail to my home address that the account was considered abandoned and all funds were transferred via state remittance. On or around XX/XX/XXXX, I called Chase bank to ask about the funds being transferred and the account having a XXXX balance. Again they could not find the account. It took me at least three times to find someone who could pull up the account using my personal information.
I am the guardian to the account.My daughter 's bank account is under a court hold via the probate court of the State of Connecticut in XXXX county. I explained that funds from her account are court order to not be released until she is XXXX years old or until the court says they may be released to her. Chase bank representatives at this point could not tell me which state had the funds. Whether it was Texas or Connecticut. After weeks of calling and talking to different representatives, I was finally told that the State of Texas has the funds. I asked if they could get the money back from the State of Texas and the representative said no. 

I eventually spoke to a Chase bank manager in regards to this named, XXXX. XXXX confirmed what the other representatives confirmed, that there are no records of Chase ever trying to contact me about this dormant account and that he has no idea why it was sent to the State of Texas given that there is a court ordered hold on the account. 

After speaking to XXXX a few times, I received contact information from the Compcontroller 's office for the State of Texas in XX/XX/XXXX or XX/XX/XXXX. The  Compcontroller 's office could not pull up information in regards to these funds. Yesterday, I called both XXXX and the Compcontroller 's office. The funds are now showing in the Compcontroller 's system, but there is a fee in order for me to have my daughter reclaim them. The fee is 1.5 % of all cash. I asked XXXX if Chase can do something about the fee and he said he would see what he can do about it, but he does n't think there is anything he can do. The Compcontroller 's office is not waiving this fee and said the onus is on Chase Bank for violating the court order and not notifying me of their intention to send the funds to the state. 

I do not feel that my daughter should have to pay for their bank error. Chase Bank failed to notify me and her of their intention to send these funds out. Chase Bank has my current address as I have multiple accounts with them currently and they sent the balance statement of {$0.00} to my address. Yesterday, I was notified by a XXXX at the Compcontroller 's office that Chase could have requested the funds be sent back. I have no idea why they have not done so or why they told me that was not possible. 

I am requesting to have the funds returned to my daughter so, she may reinvest them elsewhere and to have the fees either waived by the Compcontroller 's office or paid by Chase bank. In addition to receiving a sincere apology from  Chase Bank for having me waste so many hours of my time in dealing with RUDE representatives who could not assist me with this matter.

Company response to consumer: Closed with monetary relief