Consumer complaint received 2020-04-20
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Can't stop withdrawals from your account
Company: JPMORGAN CHASE & CO. (MI)

Due to the COVID-19 crisis our firm was forced to stop its business activity. 
many months prior to this in XXXX our company was solicited by a XXXX  XXXX XXXX XXXX which offered to provide business capital in exchange for a percentage of our accounts receivable. We agreed and accepted funding and began to repay on a scheduled weekly basis without ever missing a payment. This continued for from mid XXXX until XXXX of XXXX. Due to our good payment history XXXX XXXX continued to offer additional funding. The arrangement was very specific in that they were advancing capital based on having access to a portion of our receivables. 

Once Covid-19 struck we emailed XXXX XXXX advising that we would have to stop the weekly ACH payments due the shuttering our firm and that we would not be able to resume payments until the crisis was averted and the Governor allowed our company to go back to work. On XX/XX/XXXX, we arranged with our bank " CHASE '' to place a Stop payment ( see attached ) on the weekly ACH withdrawals, the aforementioned letter to the XXXX  XXXX XXXX company was emailed on XX/XX/XXXX ( see attached ). On XX/XX/XXXX despite the letter and the Stop Payment placed by CHASE, XXXX XXXX successfully debited {$910.00} from my business checking account. A call was immediately made to CHASE and I was promised that the money would be re-credited to my account due to the error and was provided a claim # for my dispute which is XXXX. 

At this point the lobby of the bank branches were closed and managers were no longer available to discuss account issues. I had to rely on the CHASE telephone banking center for help. I was told that due to COVID-19 the telephone banking center itself was working in a limited capacity and that management was not available by phone. I was reassured that my account was safe and future debits by ACH would not happen again, however once again on XX/XX/XXXX XXXX XXXX debited the account causing the account to sink over {$1800.00} negative. CHASE was also charging overdraft fees for other transactions that were unsuccessful on my account due to the XXXX  withdrawals and fees. Once again I spoke with a CHASE agent and was provided the same promise and an additional claim # which was XXXX. I was also told to fill out a Dispute transaction form ( see attached ) which was required to expedite my claim and reimbursement. I also found an actual branch which was open based on appointments and after visiting was able to complete a second stop payment for XXXX XXXX which finally seemed to stop additional withdrawals. ( After doing some research I have found that XXXX   XXXX   was recently investigated by the Federal Government for violating consumer protection laws ). 

In XXXX Chase re-credited the full amount and all associated fees pending a review however on XX/XX/XXXX they reversed the charges again and reapplied the debits to my account resulting in my account being overdrawn and also resulting in the loss of a {$740.00} deposit made. CHASE promised to contact me prior to ending their review and investigation however I received no correspondence at all. Further, in my view, CHASE is partially responsible for allowing XXXX  XXXX  to evade the Stop Payment on the two occasions. I do not think enough was done to protect my account.