Consumer complaint received 2019-12-04
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:
On XX/XX/2019, my Social Security XXXX deposit was withheld by JPMorgan Chase. Upon calling the branch to determine why, I was told that Chase had decided, on XX/XX/2019 to " end the relationship '' with me. I was told, at that time, that Chase did " not have to provide a reason '' and that there " was nothing ( I ) could do ... '' I had no " right to appeal ... It was a final decision. '' After numerous conversations, I was told by Chase, I had to wait an additional two days before receiving my deposit and even then, it was up to the bank whether or not I would receive cash, or if the bank would send a cashier 's checks to my home or if the bank would return my payment to Social Security. This, of course, would mean I would then have to wait an additional 15 or so days without any money. I stated that this unreasonable decision put me in an untenable situation, as my bills were due, my house payment was due, I had no other income besides Social Security. The representative from the Loss Prevention Department I spoke with at approximately XXXX said, " You don't have to like the decision but that is the decision, '' completely and thoroughly disregarding the havoc and potential loss of residence and numerous late fees this represented to me. 

Today, XX/XX/2019, at approximately XXXX XXXX., I contacted Chase again to find out if there was any decision made about how I was to receive my money, I was again transferred to the Loss Prevention Department. The magnitude of that finally pierced through. I asked the representative if the fact that my account was with the Loss Prevention Department was a indictment of me and/or an implication of a potential fraudulent transaction. I was, once again told, the bank didn't have to provide me with " any answers, '' in quite a rude and snarky manner. 

I can't imagine what would have been considered a fraudulent transaction. The last interaction I had with Chase, prior to this, was to dispute a transaction for a purchase made through XXXX in which XXXX, overrode my preferred credit card and changed to a credit card associated with the Chase account. This decision then caused my Chase account to be overdrawn. After disputing the transaction with XXXX, I was told XXXX 's " security protocol '' had chosen to change the cards. I then disputed the transaction with Chase, explained the entirety of the situation including XXXX 's explanation of " security protocol, '' and offered to submit documentation of this to Chase, in writing, from XXXX. Chase informed me that I would need to close the credit card used in the disputed transaction ; that I would be given a temporary credit of the disputed amount ; and that Chase would investigate. The next interaction was my calling to determine what happened to my Social Security deposit. I don't understand how a bank can simply close a banking account, accept and then withhold government authorized XXXX funds, with absolutely no oversight. 

As a XXXX customer, whose only source of income is Social Security XXXX, a fact the bank was very well aware of when they chose to accept my deposit, per the Social Security administration on XX/XX/XXXX, I should have at the very least been given a warning, an opportunity to explain and submit documentation in response to any additional concerns the bank may have had regarding the disputed transaction. And, certainly, as the bank has already confirmed, my funds are simply on hold. I should not have to wait any additional days in limbo. I definitely should not have to pay all the associated late fees from the withholding of my money. Chase certainly should not be allowed to profit from accepting a deposit into an account that they had already chosen to close, one full day prior to the deposit being submitted.

Company response to consumer: Closed with explanation