Consumer complaint received 2023-10-04
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: JPMORGAN CHASE & CO. (CA)

Dear CFPB, My wife and I received an email on XX/XX/2023 from Chase Bank with an offer to open a " First Banking Account '' for kids. It contained the following offer language : " Enjoy {$25.00} when you open a new Chase First Banking account by XX/XX/2023. Limited to XXXX Chase First Banking bonus offers every XXXX  months.

Chase First Banking is exclusively for parents/guardians who are existing Chase checking customers. It includes the following : XXXX XXXX XXXX   Monthly Service Fee Check-Mark Debit card in your child 's name Check-Mark Banking account owned and managed by you Check-Mark Designed with kids ages XXXX in mind and available for kids XXXX years old '' This email offer contained the following disclosure regarding the opening of accounts : " Bonus/Account Information : You can receive a total of XXXX  Chase First Checking opening related bonuses every XXXX  months from the last coupon enrollment date. To receive the bonus : Open a new Chase First Checking account, which is subject to approval. We'll deposit the bonus into your new Chase First Checking account within XXXX  days of account opening. Limit XXXX Chase First Checking related bonuses per customer. To receive this bonus, the account must not be closed or restricted at the time of payout. Bonus is considered interest and will be reported on IRS Form 1099-INT ( or Form 1042-S, if applicable ) '' We have been Chase customers for over XXXX  years, our children are XXXX and XXXX  year 's old and we opened these accounts on XX/XX/2023. This email offer/advertisement clearly states that we could open XXXX of these First Banking account for our XXXX children. I even went to the nearby Chase branch with my children to introduce them to the staff, who were very welcoming and our kids were excited to open these account with a {$25.00} bonus that was promised by the Chase branch employees who read over the offer email carefully. However, Chase Bank only deposited the {$25.00} bonus into one of our children 's account saying that the other child did not qualify. 

Once I spoke to the Chase branch employee that opened the account, he even disagreed with this apparent " Back Office '' decision and escalated our complaint to the Chase Branch Complaint Group. Today, XX/XX/2023, I heard back from the Chase Branch Complaint Group stating that their final decision is to not honor their advertisement and stated that only 1 child qualifies for this offer, which is totally contradictory to the written offer we received.

If the goal of Chase bank was to teach a XXXX XXXX XXXX XXXX  that a regulated U.S. bank is deceitful, dishonest and will break promises on a whim, despite what is clearly stated in a written offer, they have succeeded. I understand that it is only {$25.00}, but the memory of this broken promise despite everything we read and heard from the Chase branch employees will last a lifetime.

Please let me know if you have any questions. Thanks for hearing us out. 

Best regards, XXXX & XXXX