Consumer complaint received 2023-12-21
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (TN)

****not a duplicate complaint**** On XX/XX/XXXX, I deposited a check from XXXX XXXX into my Chase savings account. The following day, on XX/XX/XXXX, I discovered that my account was frozen when attempting to transfer funds from savings to checking. After contacting Chase on XX/XX/XXXX, I was informed that the entire account was frozen due to check holds, and I was advised to call back on XX/XX/XXXX to resolve the matter. 

Despite my efforts, on XX/XX/XXXX, I was told that the account remained frozen, and they needed to verify the check from XXXX XXXX I was instructed to call back the next day. On XX/XX/XXXX, during my call, I learned that my account would be closed if not resolved by XX/XX/XXXX. 

During the attempt to verify the check, I was informed that there was no associated phone number for XXXX XXXX in the Chase system, rendering verification impossible. I discovered that the funds would be held for 2 to 3 years and, if not verified, sent to the state. Despite my pleas, the representative provided no steps for verification and claimed there was nothing they could do. 

Having deposited all my money and transferred my direct deposit, I now face months without access to my funds, causing significant stress, inconvenience, and financial hardship. The lack of transparency in this process is deeply concerning. I was not informed about the need for verification until XX/XX/XXXX, with no guidance on completing this process or registering XXXX XXXX XXXX phone number. Additionally, Chase waited until after the check cleared to notify me that it was being held, which feels extremely predatory. Had I known sooner, I would have asked XXXX XXXX  to put a stop on the check with his bank. 

Chase 's verification process is flawed, and their phone number verification system is inaccurate. To verify the check, Chase must match XXXX XXXX XXXX name to a phone number in their system. Despite having his actual phone number, they refuse to use it, citing that " it's not verified. '' His actual phone number does not verify to him in their system, which contains wrong and outdated numbers for him. When I ask how to get a number verified or where they get their phone numbers from, they say they cant share that. 

I have made upward of XXXX calls, visited the branch, and filed a complaint with the CFPB in an attempt to find a path to verify the check. Every response I receive is that there is nothing they can do, and until they have a verified number for XXXX XXXX, they will continue to hold the funds. ( Though they cant tell me how to get his number verified ) I have proposed several alternatives, all of which have been declined : 1. Provide instructions on how to get his number verified. 
2. Both of us walk into a Chase branch together.

3. Provide a notarized letter.

4. Chase can contact his bank for verification.

5. Return the funds to him ( an obvious solution if they suspect fraud and won't release the funds to me ). 

Looking for any advice on how to resolve this. At this point it feels like Chase has taken the money and have no intention to release it.