Consumer complaint received 2024-03-07
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (AZ)

Dear Consumer Financial Protection Bureau, I am writing to formally lodge a complaint against Chase Bank regarding their erroneous practices, which has led to unwarranted restrictions on my account and an inability to access my funds. My name is XXXX XXXX, and I have been a loyal customer of Chase Bank for XXXX years. Throughout my tenure, I have maintained a checking account with the bank without encountering significant issues, and I have previously deposited 3rd party checks with no complications.

The incident that has prompted this complaint occurred when my fiance, XXXX XXXX, received a check amounting to {$17000.00}. We visited the Chase Bank branch in XXXX XXXX, California, and interacted with a teller named XXXX. With the intention of depositing the check, we sought guidance from XXXX regarding the best course of action. Specifically, we inquired whether it would be more prudent to open a joint account for the deposit, to which XXXX advised that endorsing the check with XXXX 's driver 's license verified and written on it would be a simpler and viable option. Relying on this information provided by the bank 's own employee, we followed the instructions and endorsed the check as advised. 

However, Chase Bank imposed restrictions on my checking account and flagged it for fraud later the same day the check was deposited. Upon contacting the fraud department, I was informed that XXXX 's phone number needed verification by an unidentified agency to confirm her identity and the endorsement of the check. Despite the fact that XXXX 's phone number is registered under her legal name, Chase Bank claimed that they were unable to verify it, citing discrepancies in their undisclosed " risk system tools. '' This puzzling stance was further compounded by the lack of transparency surrounding the verification process and the foreign agency involved. 

Upon seeking resolution, a representative from Chase 's fraud department advised me to visit the branch again and have the teller who accepted the check contact the fraud department while present. As the scheduled clearance date of XX/XX/XXXX approached, and the check cleared, the restrictions on my account persisted. XXXX and I made a diligent effort to provide comprehensive identification, including birth certificates, social security cards, and a letter from the check issuer validating the government check. Nevertheless, Chase Bank maintained its position, disregarding the abundance of acceptable forms of identification and insisting solely on the elusive phone number verification from the obscure agency, rendering us helpless and stranded without access to our rightfully cleared funds. 

I questioned Chase Bank about the possibility of circumventing this ordeal by opening a joint account, an option that we had initially contemplated. To my disbelief, I was informed that opening a joint account would have indeed averted the fraudulent complications. This revelation raises a fundamental query- if I can establish a joint account using the various legitimate forms of identification in my possession, why are these same forms of identification insufficient for verifying a check deposit and confirming my identity? 

As a result of these unjustifiable actions by Chase Bank, I find myself in the exasperating predicament of having a fully cleared check and yet being denied access to my account and funds. I have persistently sought logical explanations for the unreasonable restrictions placed on my account, only to be met with opaque procedures and a distressing lack of viable solutions. This conduct by Chase Bank not only constitutes unfair and oppressive practice but also represents an egregious abuse of power, leaving me in a state of financial duress and disempowerment. 
In conclusion, I implore the Consumer Financial Protection Bureau to intervene in this matter and hold Chase Bank accountable for its erroneous practices, lack of transparency, and unjust treatment of its customers. I seek a swift and impartial resolution that restores my rightful access to the cleared funds and addresses the glaring inconsistencies in Chase Bank 's policies. I trust that the CFPB will conduct a thorough investigation into this matter and take appropriate actions to rectify the situation, prevent future recurrences, and uphold the integrity of banking practices. 

Thank you for your attention to this urgent matter, and I look forward to a prompt and just resolution. 

Sincerely, XXXX XXXX