Consumer complaint received 2024-05-20
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (MA)

On XX/XX/XXXX I conducted an account transfer between two Chase Bank accounts that I own and visible in the same app ; this was not a wire transfer. The accounts were my Shared Savings account and my Shared Checking account. I " share '' these with my wife, but I am the primary account owner. 

The transaction was to prepare to pay an XXXX credit card for a large purchase as the payment date is coming up and I want to avoid finance charges. The transaction was for less than the amounts I've moved in the past. I conducted the transfer from a device logged into my account through multiple factors of authentication and while over a VPN as I was on a public guest Wifi. My behavior has not changed ; I regularly pay my cards near the middle of the month and transfer money out of savings when necessary to pay for larger purchases. 

The transaction was rejected on XX/XX/XXXX and my account restricted for reasons that have not been fully identified to me, just vaguely as " the system is sensitive '' and " we are trying to prevent fraud ''. I called in same day to restore the account and get it unrestricted. I was promised on the XXXX that it was fixed and I would be able to try the transfer again within 30 minutes. When I tried, it was still restricted, showing an error that my accounts were ineligible. 

I called the next day XX/XX/XXXX and spent hours on hold during my workday as an executive, having to skip important meetings. I was promised again that it would be fixed by the end of the day. It was not fixed by the end of the day. Each time, I am validating my identity. 

I presented myself at a Branch on Friday XXXX and again validated my identity personally and physically. I was told that they had to perform some sort of manual change to fix my account, but it would be worked urgently and by Monday I would be able to move my money between my accounts. It is not the case today, XX/XX/XXXX. 

I was also told XX/XX/XXXX in person that I am not permitted to withdraw my money or have a banking representative move my money because I am restricted. 

I have repeatedly tried to give feedback and conduct support online through secure messaging throughout, only to be treated to robots who respond with the same boilerplate that I must call. I have no reference number or anything for any of my engagements and no way to escalate my case to anyone at the Bank. 

As to damages and impact- this is going to mean that I can not pay my credit card on time and it will therefore result in fees with the other institution due to late payment- XXXX will make 20 % on the charge. I pay my cards off every month and just using the cards for convenience as a result of Chase not giving me access to the money I have to be able to pay for it. 

Repeated online messages and the interactions above have produced no accountability and no customer service. Chase Bank does not take seriously my problem that they caused. It is quite clear to me that the bank believes they own my money that I entrusted to them and for some automated, flawed-AI reason, I have lost privileges to that money and I can't even choose to move my money elsewhere to another institution. 

This is intolerable and I need help to cause Chase Bank / JPMC to take this seriously and to take accountability for the impact to my credit score and the finance charges they are causing by restricting my account and refusing to fix it. I don't know why they don't take the 20-year banking relationship we've had seriously, or the fact that I'm ready to move as a result of their treatment and incapacity to fulfill basic banking functions. I don't know why they think that someone with an XXXX XXXX XXXX is such a risk that a 4-figure online transfer between that individual 's accounts causes a restriction. But it is unfair and there is damage to me financially.