Consumer complaint received 2024-09-05
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Funds not received from closed account
Company: JPMORGAN CHASE & CO. ()

From XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXX I spent 3 full days at one CHASE XXXX in the XXXX trying to get the interests paid in full according to the CDs negotiation receipts as printed that the bank provided to me. The XXXX is clear on each one of the receipts. The bank did not pay in full. Then I decided to close the account and I requested an international wire transfer for moving the money to my bank account in other country. On the second days o banking several attempts were made and each one of them was cancelled by the Fraud Verification team for unknown and not disclosed reasons. It was until the third day of banking that the international wire transfer was authorized and sent. I lost days of work because I had travelled from my country just for this banking issue. I ended paying for extra days at hotel and forced to paid extra for changing the dates on my returning flight from XXXX to my home country. 
The following is all what it has happened since the moment that the international wire transfer was finally sent to my bank in my country the afternoon of XX/XX/year>. 
At about XXXX XXXX XXXX XXXXXX/XX/XXXX, I received a call from CHASE telephone number XXXX XXXX. This was a lady representing CHASE research, whom indicated she had received my case after it had been escalated for detailed investigation. The let me know the call was recorded and I was just minutes for boarding an international flight. 
The same lady called me on Thursday XX/XX/year>. The call was also recorded. During the call she allowed me to explain with higher detail about my complaint in regards to the following issues : XXXX ) According to the printed Certificates of Deposit Renegotiation Receipts that were mailed to me for the XXXX accounts that in total reached a total sum of {>= $1,000,000} XXXX Dollars, the term as negotiated was for 269 days, having all the XXXX CDs their maturity date on Sunday XX/XX/year>. In previous CDs agreements, if the CDs reach maturity on a Saturday, Sunday or during a Holiday, the bank usually extends the term automatically by 1 or 2 days until the maturity date falls on a weekday assuring that the bank is open and banking activivities are achievable. Apparently, in this case CHASE automatically extended by 1 day for assuring maturity on Monday XX/XX/year>, which it is fine to me, however, CHASE did not comply its obligation of paying the 5.00 % and 4.00 % Annual Percentage Yield respectively as agreed per the renegotiation according to the six amounts invested in CDs. According to the respective balances records, CHASE only paid 4.88 % interest rate instead 5 % during the agreed term for the CDs worth {$500000.00} US dollars, {$200000.00} US dollars, and {$100000.00} US dollars ( 2 of them ). While CHASE only paid 3.91 % instead 4 % for the two CDs worth {$50000.00} US each. On Page 24 of 25 of the Disclosures for New Account Inquiries that accompanied each of the XXXX Certificates of Deposit Renegotiation Receipts, there is this text referring to Interests : The Annual Percentage Yield ( APY ) disclosed on your deposit receipt assumes interest will remain on deposit until maturity. Considering I did not have any kind of early withdrawals during the term that I left the money in the account. 
XXXX ) In addition to the above, when the principal amounts of investments were finally available and their respective " incomplete '' interests were paid, both principal and interest were available in the checking account until Tuesday XX/XX/year> and I requested full amounts to be wire transferred to my own account in my bank at home country. On that date, XX/XX/XXXX, XXXX attempts were made. The first at XXXXXXXX XXXX, the second at XXXX pm, the third at XXXX pm. Each one of them were cancelled by unknown reasons not openly disclossed to me or my private bankers at the CHASE branch. The team in charge for Fraud Verification made me calls just minutes after each attempt. Actually, after the first attempt they called to my mobile phone but I did not even answered that call and they never called again. At the time of the first attempt that was cancelled, I did note even know that CHASE fraud verification team was following that specific procedure. I just discovered CHASE was following that standard procedure of calling for asking security questions after each attempt. For the second and third attempt I answered their call providing response to all their security questions. At the end of each call ( recorded ) they even told me I had successfully passed the respective security verification and the wire transfer would be shortly send on the way. However, after each one of the described attempts, the international wire transfer was not properly sent and CHASE did not even disclossed a reasonable justification. CHASE Fraud Verification became an obstacle that basically made me lost one extra time at the Branch just hopping the wire transfer would be on the way. All day on XX/XX/XXXX more than XXXX XXXX XXXX Dollars were held settled in the checking account earning 0 % interest just because who knows whom with CHASE Fraud Verification did not want to send the wire transfer. According to private banking executives at the branch, when they escalated the issue by internal email communications, they got a reply email indicating that the wire transfer was not sent because mky bank at home country did not even provided any kind of answer. CHASE basically put he blame on the team in charge of receiving wire transfers, indicating that the reason why the transfer was not successfully sent was because my bank at home country did not even reply to the security questions launched by the Chase team. I immediately established contact with my private bank executives at home country. They escalated the issue to the team responsable for receiving the wire transfers, and that team denied having even received any kind of questions by any digital way or telephone call. Therefore, it is to me totally unaccepable that Chase team had put the blame on the receiving team and Chase team had lied. CHASE fraud verification team conducted totally dishonest and unfair. I lost days of work, two days of earning interest on more that XXXX XXXX XXXXXXXX  investment, and made me stay additional nights at the hotel. In addition I was forced to change the date of my returning international flight paying penalties to the airline. 
On XX/XX/XXXX, the same lady that had called me on XX/XX/XXXX indicated that it would take few days to run the investigation. Then she scheduled a phone call for letting me know how things were developing. We agreed to have that conference call on XX/XX/XXXX. She complied calling the afternoon of XX/XX/XXXX indicating she needed XXXX extra days until receiving a reply from XXXX of the departments in charge. 
It was until XX/XX/year> that the same lady representing Chase Research team called me again. The call was recorded. She basically call for letting me know that after further investigation, the teams in charge for paying the interests on CDs and the team in charge for fraud verification denied any fault or error, and she indicated there was nothing to refund or compensate to me. 
I am totally unsatisfied about the way CHASE managed the escalated issues. This is the reason why I am submitting to Consumer Financial Protection Bureau my complaint.