Consumer complaint received 2022-08-19
Company: JPMORGAN CHASE & CO.
State: VA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
On XX/XX/2022 a wire transfer of {$1400.00} was sent from my Chase Bank personal checking account to a third party at XXXX XXXX XXXX ( XXXX XXXX XXXX XXXX ). The wire transfer was successfully delivered on XX/XX/2022. However, the recipient bank XXXX XXXXis Bank XXXX XXXX XXXX XXXX XXXX ) would not deposit the transaction because the money was sent by a third party and required the recipients name to be on the sending accounts bank statement. As a result on XX/XX/2022 I called Chase Bank to request a recall of the wire. I was then directed to send all requests related to wires online through secure messaging to a separate department. Therefore on XX/XX/2022 at XXXX XXXX I submitted a secure message within my Chase Bank personal checking account to recall the wire. I received an automated reply from Chase Bank that I would receive a response in 1 business day. No response was received from Chase Bank. On XX/XX/2022 XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX ) returned {$1400.00} ( {$1400.00} - {$30.00} wire fee ) to my Chase personal checking account and provided a wire receipt with confirmation. On XX/XX/2022 at XXXX XXXX I received a canned message from the Chase Bank XXXX Retail Wire Servicing '' department acknowledging that my message was received and that I need to reply if I would like to move forward with my request. I quickly replied yes to the Retail Wire Servicing department to proceed with the Wire Recall. I then received another automated message acknowledging my secure message and letting me know that I should expect a response within 1 business day. On XX/XX/2022 at XXXXXXXX XXXX I received a response back from the Chase Retail Wire Servicing department with a case/reference number for the Wire Recall and to allow the financial institution 3-5 business days to respond to the request to recall the wire. On XX/XX/2022 I followed up as I did not receive a response from Chase Bank nor did I see the returned funds of {$1400.00} in my Chase personal checking account. I then received another automated message acknowledging my secure message and letting me know that I should expect a response within 1 business day. No response was received so I sent another new secure message on XX/XX/2022 with the case/reference number and wire receipt from XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX . On XX/XX/2022 I received a message from the Chase Retail Wire Servicing department stating that We have acknowledged your request to recall the wire, however, we have determined that the wire has been reversed. The reason for reversal is as you requested recall. Please make note the funds are not yet reversed to your account hence we sent an email to the relevant team to provide the status on the reversal. Please check back for a possible update in 24-48 hours. Thereafter on XX/XX/2022 I received another secure message from the Chase Retail Wire Servicing department in reply to my inquiry of the missing reversed funds on XXXX XXXX. The message was as follows We have acknowledged your request to ( recall/claim not receipt/amend ) the wire, however, we have determined that the wire has been reversed. The reason for reversal is ( RETURNING YOUR XXXX LESS FEE*WIRE SENT BY 3RD PARTY ) . When a wire is reversed/returned, it means the funds debited your account successfully which was returned to us by the receiving bank. Processing fees may have been applied by the receiving bank which may result in a lesser amount being returned. This is irreversible as this is a wire fee assessed by the other financial institution. The message provided no information or update on my missing funds of {$1400.00} that were returned by the receiving bank. On XX/XX/2022 I then went to my local Chase branch to talk with a representative and explain my situation. The Chase representative was nice, but informed me that there was nothing that they could do since they were unable to see the returned wire transfer on the backend. As a result they called the Chase Bank back office and explained the situation just as I have been doing for the past 2 weeks. I was provided the same information, that they are unable to do anything and advised me to reach out through the Chase Bank Wire department via secure message and wait for a response. On XX/XX/2022 I sent another secure message using the reference number previously providing and demanding an update as to why my funds are missing and why they cant be located. On XX/XX/2022 I finally received the returned wire funds of {$1400.00} from XX/XX/2022 that was sent to my Chase personal checking account from XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ). The lack of information and communication from Chase Bank during this incident has caused significant impact to my personal finances for this month.

Company response to consumer: Closed with monetary relief