Consumer complaint received 2021-11-17
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (MI)

On XX/XX/XXXX, I deposited a check for {$400.00} via my Chase App on my phone. I received a confirmation via email that the deposit was being processed. Thereafter, however, then the transaction seemed to disappear. Specifically : The deposit did NOT show in my account either as available or pending. I called Customer Service and was told that it was the fault of the other financial institution ( XXXX XXXX ). However, I did not understand what the other financial institution would have to do with how CHASE reports the deposit in my account with Chase. I received no response to this question and was put on hold. I was then told they were contacting the other financial institution ( XXXX XXXX ) to release the funds. I was on hold for more than 30 minutes and finally hung up and called back. Then I was told that it was " not possible '' to contact the other financial institution. They also stated that my funds would not be available until XX/XX/XXXX. I advised the representative that this hold was not acceptable as it was a local bank and that the representative prior to her has SPECIFICALLY REPRESENTED THAT HE WAS CALLING THE OTHER FINANCIAL INSTITUTION. HOW IN THE VERY NEXT CALL IS THIS " NOT POSSIBLE? '' I asked for a supervisor and was again placed on hold. I was on hold more than 40 minutes with no one every coming back to the phone. I have again contacted Chase who still can not provide a cohesive explanation of where my money went and why it is not showing on my account as either available or pending, why some representatives say they can contact XXXX and why others deny that this is possible Additionally, some representatives have claimed that I can not talk with the department that makes the call to the other financial institution, but others have stated that it is the Fraud prevention department and then transferred me. 

I then asked to transfer the transaction and just take the check to the local XXXX, but Chase has also refused to do that. Under the current scenario : Chase has these funds tied up until sometime after XX/XX/XXXX and can not provide me any reason why or how to resolve it. 

This is not the first time Chase has refused to provide funds claiming a " policy '' prevented them from doing so. On a prior occasion, I attempted to cash a check. I was told that I would have to deposit it, wait XX/XX/XXXX days and then I could access the funds. The person who wrote it to me, was a former Chase employee and it was written on his Chase account. He knew of no such policy. We went to a different branch and the check was cashed the same day. Thus, either I was given false information at the first branch, or their policy changed during the time it took to drive to a different branch. 

I want a clear and consistent list of policies of how and when I can access funds and how those funds will be reflected on my account while they are being processed. I would also like an explanation as to how I can reverse a transaction if Chase after the fact advises that they will not provide the funds for more than 10 days. I would also like an explanation as to why different representatives are contradicting themselves on whether or not the other financial institution can be contacted to clear the check. A more than 10 day hold seems unreasonable for a financial institution that is local and literally just down the street. 

I have had repeated instances of the Chase representatives contradicting themselves on policies and then putting me on hold for more than 40 minutes on multiple occasions. I called back again and again. Repeatedly no one would take the call or answer my questions. It seemed clear that they were hoping I would give up if they just kept putting me on hold.