Consumer complaint received 2024-02-03
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (ME)

I mobile deposited a payroll check from my job of {$820.00} on XX/XX/XXXX. This is money that pays my bills, keeps my life going, pretty normal for payroll checks right? The next day I check my bank account and see there is a hold on MY money until XX/XX/XXXX. With the utmost respect, my bills dont go on hold because Chase bank decides to hold MY money. So I call about this hold to get it released. When I call, I am told that XXXX XXXX ( who the check is from ) can not confirm the funds therefore thats why I have a hold on my deposit. Okay, totally understandable right? Except for the fact that ALL of my coworkers who mobile deposited had access to their funds by Tuesday XX/XX/XXXX or Wednesday XX/XX/XXXX. So I contacted my employer, the people that operate the bank account that Im receiving the check from. They decide to give me cash because when they contact XXXX XXXX, XXXX  says the funds are available and they dont know why my funds are being held ( ironic isnt it???? ). Then, my jobs payroll team contacts the bank to cancel the deposit of the check, only to be told that they can not cancel the deposit. Again, HOW IRONIC! So I contact chase to ask to cancel the deposit, and they tell me that they cant and that I need to contact some speciality team about it. At this point Ive contacted this bank FOUR OR FIVE SEPARATE TIMES, and have been told the same nonsense in a different way each time. Why is there a hold on my check???? Oh well we have to verify the funds Okay call XXXX XXXX  then! Well XXXX XXXX wont verify the funds through a third party so the person that operates the bank account has to talk to them. Okay cool, I contacted my manager and they said that XXXX said the funds are available and they have no clue why yall are holding my funds for that long. Well according to blah blah blah we have to hold funds while we wait to verify that the account we are receiving the funds from, actually has the funds OKAY Ive already verified with my employer that they verified that with my bank, and additional verification is the fact that ALL of my coworkers have received their money, besides me. Ive banked with several different banks as well as credit unions in the past ten years. Ive never ever EVER!!!!! seen a hold like this on a check, ESPECIALLY A CHECK as small as {$800.00} and some change. I find this embarrassing, I find this shady, and I frankly would love to NEVER bank with XXXX again. Their excuses as to why they are holding my money are absolute XXXX, and Ive contacted all parties I need to contact to confirm that the funds are there to be deposited into my account. Ive never seen a hold for this period of time, its always two business days max in my experience. Im appalled with the hold on MY personal finances, and disgusted with how one of the largest banks in America can not clear a check within a couple business days from one of the largest banks in America. All the excuses I was given were ridiculous, and also looked into by myself as well as my job ( who I received the check from ). In addition to this, the woman on the phone tried to tell me that the hold could happen whether I mobile deposit or deposit in person. Im calling her bluff on that XXXX. Because when I looked up why Chase Bank was holding my check for so long, I found MANY reviews having the same complaints and same issues, and more recently in the past couple of years. It sounds to me like Chase bank needs to be THOROUGHLY investigated, as well as reported, and hopefully flagged if thats something that happens with banks. Im disgusted banking with them, I plan on closing my bank account as soon as possible after I receive my money, and I would love a REAL answer to all of this and not some generic customer service response because Im beyond frustrated and annoyed with this bank. I work in customer service, Im not stupid, and I know exactly how to tell when businesses say certain things to get the customer off their back. Im not stupid, report this bank, theres absolutely Z E R O L O G I C A L R E A S O N for them to be holding such little money for 7 business days.