Consumer complaint received 2024-07-29
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: JPMORGAN CHASE & CO. (AR)

I opened a XXXX CD in the amount of {$100000.00} with Chase Bank XXXX XX/XX/year>. On XX/XX/year>, I visited the local Chase branch and instructed them to extend it for another 60 days. I was informed it would automatically renew so I need do nothing further at that time. It matured on Sunday, XX/XX/XXXX. On Tuesday, XX/XX/year> I again visited the branch and made it known that I intended to withdraw the funds this time. I was provided with a phone number to move the funds : ( XXXX ) XXXX. I called and spoke with a Chase agent. He confirmed that he had initiated the transfer of funds from the CD to my Chase checking but that it could take up to 48 hours to process. 

In the meantime, I began setting up a means to transfer the money so that I XXXX use it for its intended purpose. XXXX XXXX  is already linked for internal transfers because that is the method with which I pay my Chase credit card bill. Additionally, I began the process to link my XXXX XXXX XXXX account ; it is interest-bearing. I received confirmation from both Chase and XXXX XXXX that those XXXX accounts were linked. 

On XX/XX/XXXX, I verified online that the money had not been moved so I again called the XXXX number. The agent who answered confirmed that there was no activity pending. I relayed to her the information from the prior call. She put me on hold and when she came back she acknowledged that a Chase agent had attempted to conduct the transaction but was not able to do it. She could give me no explanation as to why I wasn't notified that the transaction had been terminated. She told me that they would escalate the transaction in an effort to make amends for what had happened. She told me that I would have the money transferred into my checking within two ( 2 ) hours and she provided Reference Number XXXX. 

On XX/XX/XXXX, I contacted Chase only to find they had not even begun processing it. She further indicated that I would not be able to get the full amount because it had already been reinvested. What? I explained that was unacceptable because I had been trying for days to get access to the money and additionally, ten ( 10 ) days had not yet passed. She again assured me that it would be transferred within two hours. This time it was. 

Later XX/XX/XXXX, I made an attempt to electronically move the funds from Chase to XXXX XXXX but that was denied because it exceeded their 'amount ' limit. I then scheduled a transfer of {$100000.00} from Chase to XXXX XXXX. It was confirmed but because it was over $ XXXX, it would not be completed until the XXXX. I then tried to move {$1700.00} to XXXX  XXXX but was denied because I had already reached their 'daily ' limit of $ XXXX. 

On XX/XX/XXXX, I made what initially appeared to be a successful attempt to move the {$1700.00}. It showed that it went through but Chase later rejected it. 

I went online earlier today and see that Chase has now unlinked my XXXX XXXX account so I began the process to relink. They have placed roadblock after roadblock in my path preventing me from receiving my money. At this moment, they have eliminated every path for me to gain access to my funds. While they're making interest on my funds, I'm becoming delinquent on commitments and financial obligations.