Consumer complaint received 2020-08-12
Company: JPMORGAN CHASE & CO.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
My wife as Social Security Representative Payee had control two Chase Bank Guardian Accounts where my daughters social security checks were being deposited for the past eight years. The bank has placed a hold on these accounts as of early XX/XX/XXXX after my wife sustained a XXXX XXXX  and I requested to assume control. The bank says the accounts were not created legitimately. The bank has refused to release the funds to me as the current Social Security Representative Payee and legal conservator of my daughters Persons. 
The most recent Social Security deposits, ( including the last one with me as the Representative Payee ) were deposited in these accounts and are inaccessible due to the bank hold.

The bank presently holds and will not release the funds for their deposited SSI and SSA payments as follows : ( Routing # XXXX ) XXXX Account # XXXX XXXX Account # XXXX XX/XX/282020 Stimulus {$1200.00} XX/XX/282020 Stimulus {$1200.00} XX/XX/XXXX SSI {$540.00} XX/XX/XXXX SSI {$540.00} XX/XX/XXXX SSA {$670.00} XX/XX/XXXX SSA {$670.00} XX/XX/XXXX SSI {$540.00} XX/XX/XXXX SSI {$540.00} XX/XX/XXXX SSA {$670.00} XX/XX/XXXX SSA {$670.00} Sub Total SSA SSI - {$3600.00} Sub Total SSA SSI - {$3600.00} Misc. Deposits - {$490.00} Misc. Deposits - {$280.00} Total Account - {$4100.00} Total Account - {$3900.00} Since I am unable to access the funds, because the bank says I am not the Conservator of my daughters Estate, I have requested that the funds be released to my daughters directly who are the legitimate owners of the funds. 
The bank is requesting ( XX/XX/XXXX XXXX Action Needed : Please provide Letters of Conservatorship - Over Estate - these court certified documents will include who has the authority to open an account and what bank is to be used. 
Chase Banks position ( XX/XX/XXXX ) is as follows : Account as a Guardianship account. Upon review of the account we have found that per the Court Order Chase was not authorized to open the account. The Court Order states that the Conservator only has Conservatorship of the Person only. Please be advised that a hold has been placed on the account until an court order is received and reviewed. 

Court authority documents determine : o Guardianship type, which includes : Guardianship of the ward 's person only : Guardian is responsible for protecting ward 's physical person and well-being ( we don't open accounts for guardianship of ward 's person ) Guardianship of the ward 's estate only : Guardian is responsible for controlling and protecting ward 's monetary assets ( we can open accounts for these guardianships My response to the banks position ( XX/XX/XXXX ) : Your comments that we dont open accounts for guardianship of wards person is as full of holes as swiss cheese!

1. There are accounts which have been opened ( that should be clear to both of us ) 2. The Bank did open them because they exist 3. I have no other paperwork other than that offered to date 4. XXXX has been using the accounts for the past 8 years for the girls social security as representative payee. 
5. XXXX and now I have been designated as Representative Payee for Social Security provided to my daughters 6. The funds belong to my daughters Based upon the above, my daughters should be able to come down and withdraw the funds with the proper identification? 
I do not want to become the Conservator of my daughters Estates as the bank is directing. There is an onerous accounting requirement in taking on such a task. The Social Security Administration does not require such a designation to function as Representative Payee.

I have created two new accounts at another intuition using the Social Security Representative Payee Documentation and will act as the Representative Payee for future Social Security payments or until my wife recovers. I have notified Social Security about the XXXX payment going to the wrong account and they have taken action to request the return of funds and redirection to my new accounts. 
Summary Solution : I believe that the funds impounded at Chase Bank should be made available to my daughters who are the legitimate owners especially since the error in the creation of the accounts lies with the bank and not my wife or myself. This should be done without any new court documents required. Upon release of the funds to my daughters, the accounts at Chase should be closed. This is the only reasonable solution in light of the relevant facts.

Company response to consumer: Closed with explanation