Consumer complaint received 2024-06-20
Product: Money transfer, virtual currency, or money service — Money order, traveler's check or cashier's check
Issue: Problem with customer service — 
Company: JPMORGAN CHASE & CO. (PA)

Check Deposit : XX/XX/year> I deposited a certified cashier 's check for {$20000.00} at the Chase office in XXXX, handled by Branch Manager XXXX. 

Funds Released : XX/XX/year> According to my receipt, the funds were scheduled to be available on this date. When I checked my account in the morning, the money was there. However, I encountered issues when trying to pay my business package fee later that day. I promptly contacted my business account manager, XXXX, to address the matter. I was told to email my letter of organization and my IRS EIN number so that my account can be unlocked. I then stated why these documents weren't scanned when I opened the account and was told that they weren't needed. 

XX/XX/year> After speaking with XXXX again, he managed to transfer {$18000.00} from my savings to my checking account and I was able to use {$500.00} of it to pay off my Chase business credit card. 

XX/XX/year> On this date, my account was restricted again. I was given conflicting reasons, including inability to verify the funds with the issuing bank and uncertainty about the check being made out to me as the XXXX XXXX XXXX XXXX ). Despite providing official state documentation confirming my ownership of the XXXX, I was informed that such documents could not be accepted for verification purposes. I was advised that verification could only be done through the issuing bank or by confirming my status as owner through the Secretary of State website. 
Additionally, on the XXXX, I completed paperwork with the state to update corporate office names in an attempt to meet Chase 's verification requirements.

From here on I checked in daily with the Secretary of State website to see if my name had been attached to the business. After waiting a week and still seein
g no change I called the Secretary of State and was put through another process to try and get my name attached. Another week went by before calling again only this time i called and was told that they do not list any owner/officers for LLCs XX/XX/year> I receive a phone call from Chase stating my accounts have been closed with no explanation. I had {$17000.00} in my checking account and {$4000.00} in my savings when this happened. I then proceed into the XXXX branch where I am told by the banking rep XXXX that my accounts are closed and that they will be sending a cashier 's check through the mail of my remaining balances in my accounts. 

XX/XX/year> I called Chase to see where my cashier 's check is at and am told that no funds will be sent until the verification process is completed. I then explain that I can't get my name on the Secretary of State website. I was then told that they need to contact the purchaser of the check. I am able to get this process done and my case is sent to the suspension team. 

XX/XX/year> I called Chase to check the stats of my suspension case and am told it has passed the first step and needs to pass one more before becoming available. 

XX/XX/year> I called Chase to check the stats of my suspension case and am told it has been denied due to Chase not being able to contact XXXXXXXX XXXX When dialing the XXXX XXXX contact number ( XXXX ) XXXX that is verified through a software that Chase uses they get a different answering machine than I do as a general customer. I am able to speak to a representative just by staying on the line while theirs asks for a passcode. They then try different numbers ( XXXX ) XXXX and ( XXXX ) XXXX but are unable to verify the check due to sensitive information that XXXXXXXX XXXX can not release over the phone. I then call XXXX XXXX and have them try to reach out using the number I've been calling for Chase ( XXXX ) XXXX. The number has an automated answering service that directs you to the right department and one of the options says press 4 if calling from a banking institution. It then asks for a verification code, which XXXXXXXX XXXX doesn't have and then says if you do not have a verification code to send an email to XXXX. XXXX emails were sent by two different branch representatives, and both received emails saying that that email address was not valid. 

XX/XX/year> XXXXXXXX XXXX provides a letter stating that they are unable to stop payment on the funds because they have been negotiated with. Please see attached letter. At this point the only option is to restructure my business from an LLC to a Corporation in order to have my name listed on the Secretary of State website.