Consumer complaint received 2023-09-12
Product: Checking or savings account — Savings account
Issue: Opening an account — Didn't receive terms that were advertised
Company: JPMORGAN CHASE & CO. (MO)

On XX/XX/XXXX I opened a checking and savings account with Chase bank. I received an email offer stating that if you open a checking account and set up direct deposit, as well as a savings account and deposit {$15000.00} in *new money, you can receive up to a {$600.00} bonus. After reading the terms of the bonus, I opened both a checking and savings account online. On XX/XX/XXXX I used mobile check deposit to deposit a cashiers check in the amount of {$7500.00} into my Chase bank savings account. Due to my account being new and the check being large there was a hold placed on the check. I received an email notice stating that the funds would be held until XX/XX/XXXX and made available to me on the XXXX. I then received a letter in the mail dated XX/XX/XXXX, saying that my accounts were restricted and would possibly be closed due to possible suspicious activity. I called the customer service on XX/XX/XXXX to speak to a representative regarding the issue. I was told my account was restricted and they would submit a request to have the account unrestricted. While on the phone, the representative also called the bank the cashiers check was written on to verify the funds. The bank verified that the funds were released on XX/XX/XXXX. I was told that my account would be unrestricted and would have access to my funds. On XX/XX/XXXX, I had a direct deposit from my employer of {$100.00} deposited into the checking account and {$100.00} direct deposited into my savings account. I called back on the XXXX of XXXX to speak to a representative who told me that my accounts were still restricted and that even though the funds were verified on the XXXX they would not release my funds and were in a restricted Chase bank account and that I would not have access to them. I spoke to a manger and was told on the XXXX that she was going to unrestrict my account and I would have access to my funds on the XXXX of XXXX. When logging into my account online on the XXXX, I noticed my checking account had been closed, and my savings account was overdrawn {$100.00} due to bank error. I called and spoke to a representative on XX/XX/XXXX who would not help me and then spoke to a manager who told me that he would have to request my account be reopened and then request for the {$7600.00} back from my savings account. I was told this would take up to XXXX business days and he would give me a call back Monday to update me on the status of this. I did not receive a call Monday and my accounts were not opened Monday. On Tuesday, the XXXX my accounts were reopened, however my savings account was at a XXXX balance. I called a representative and they said the original request for the {$7600.00} was never placed and that he would submit the request and that it would take XXXX minutes and I would see my funds. I called back XXXX hours and spoke to another representative and a manager would then told me that was incorrect and that it could take up to XXXX business days. Chase bank has had countless bank errors and representatives who have not followed regulations and withheld my funds with no solution in sight.