Consumer complaint received 2024-08-28
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (OR)

I am filing this complaint today because Chase Bank did not honor the promotional offer promised when signing up for my new checking account, even after I satisfied all eligibility requirements. I believe that Chase purposefully uses vague language to entice consumers to open new checking accounts with the promise of promotional credits that they never intend to deposit, relying on technicalities not outlined in their terms to deny consumers these rightfully gained promotional credits. Please see below for an account of my experience. 

I opened a new checking account with Chase on XX/XX/XXXX specifically because they were offering a {$300.00} promotional credit to new accounts with direct deposits totaling {$500.00} within 90 days. The offer indicated that these deposits COULD NOT be XXXX transfers or micro deposits, but they never indicated these deposits HAD to be ACH deposits. I am XXXX and get weekly direct deposits from my online retail shops into my checking account. After opening a new checking account with Chase and reading through the terms of the promotional offer carefully, I immediately routed these direct deposits from my XXXXt into my new Chase checking account. These direct deposits were made into this account as normal and before XX/XX/XXXX, I had satisfied all eligibility requirements to receive the {$300.00} promotional credit. 

I waited for the promotional credit to apply within 15 business days, as the terms indicated. When the credit was not applied after this time- I contacted Chase and was advised that I had satisfied deposit requirements and the promotional credit should be in my account by the of the week. When the credit was not applied, I contacted Chase a second time and they advised, again, that I had satisfied deposit requirements and the credit would be in the account by the end of the day. When the credit was not there two days later, I contacted Chase and opened a case. I also went into my local Chase branch and spoke with the branch manager, who advised Chase is aware of this issue as other customers have encountered similar problems when attempting to receive their promotional bonuses. He stated that employers don't always use the same codes when depositing paychecks and this has caused confusion among new customers awaiting promotional credits. He also looked at my direct deposits and verified that I had satisfied the deposit requirements to receive the promotional credit- but because there was an active open case, he was unable to apply the credit himself. He advised to await the results of the case and go from there. 

After this time, I waited for the case to play out. When I did not hear back from Chase for over a month ( even after responding to messages in the secure message center ), I contacted Chase again and was told that they would have to open another case to inquire about the promotional credit. They forwarded the case to the coupon department, who subsequently advised that since my deposits were not ACH deposits, I would be ineligible to receive the promotional credit. 

I contacted Chase again on XX/XX/XXXX and opened a third case indicating that the terms never specified the deposits had to be ACH deposits, only what the deposits could not be and that Chase purposefully uses vague language so consumers will open new checking accounts under the assumption they will receive a promotional credit, then relying on technicalities not described in their terms to deny these rightfully gained promotional credits. I also advised when opening a third case, that I would be filing a formal complaint with CFPB about my experience so others are aware