Consumer complaint received 2019-05-07
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: JPMORGAN CHASE & CO. (NY)

On XX/XX/2019 I made a payment to my friend for {$140.00} via the XXXX ( XXXX ) payment service offered to all Chase customers within the Chase Online Banking app. I then texted my friend to make him aware of the incoming funds, to which he replied that he no longer has a bank account set up to receive the funds. This was a surprise to me as I've sent him funds in the past via XXXX ( XXXX ) but nonetheless, I called Chase to reverse this transfer, as the funds had already left my checking account. Chase told me that they would process this claim with XXXX, and that usually these cases take about 10 days, at which point I should see the funds credited back into my account. About 2 weeks later I called Chase to follow up, as I had still not received my funds back, and the Chase representative told me that there's nothing else they can do on their end, as the case has already been referred to XXXX and is now sitting with them. I wrote down the case number and called XXXX, and the XXXX representative told me that they only provide the framework and system to Chase for use by their customers and are not liable for any of the funds. Furthermore, they told me that they can not provide any information as to the cases status because its confidential ( even though it's my own case and my funds ). They told me to contact Chase for more information as they are my financial institution and would have the answers. I called Chase back again and they told me yet again that the case has not been decided on yet by XXXX and that Chase is doing me a " courtesy '' be filing a claim for reversal of these funds. I told Chase that as my fiduciary and financial institution it's their responsibility to ensure my funds are safe and are handled in a timely manner. The people at Chase felt they had done more than enough already and told me they could not do anything else at the moment. At this point, about 4 weeks have passed since my initial claim ( they originally told me it would be 10 days ). Now today, over 6 weeks since I initially called Chase, I contacted Chase yet again to ask where my funds were and they gave me the same response, that when the claim has been decided on they would credit the funds back to me. I explained to them that my funds are their responsibility and I asked that they credit my account temporarily for the {$140.00} until the decision has been made ( as they do with other claims regarding debit and credit card charges ). The lady told me they couldn't do that because the money is not their responsibility and is XXXX 's. I explained to them that XXXX is merely a service that Chase offers to its own customers, and that it's Chase 's obligation to ensure smooth operation for their customers. I explained that it is their duty to ensure customer funds are safe and secured and any money transfer services offered on their platform and app are their responsibility as well. The representative once again denied culpability and again told me that I'd have wait until this is sorted out on XXXX 's end. I advised her that if I'm not credited the {$140.00} within 24 hrs I will terminate my relationship with them and file a complaint to the CFPB, to which she did not respond at all. I then hung up.