Consumer complaint received 2024-02-28
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (NY)

I am an XXXX for XXXX  ( XXXX ) years in the State of XXXX ( living in XXXX, XXXX XXXX ) who has banked with CHASE for over a decade, both personal and business. CHASE has restricted an account containing +/- {$95000.00} for over 26 days and will not allow me access to my money to operate my law practice/consulting company. Despite DAILY efforts by no only me, but also CHASE Branch Representatives on XXXX XXXX, we can not get these funds released. 

Specifically I have my XXXX XXXX XXXX XXXX account ( XXXX  XXXX XXXX, XXXX ( Acct ending XXXX ) ), as well as my XXXX company ( XXXX, XXXX ( XXXX ) ), at CHASE for years, and recently opened an additional account at the beginning of XXXX for a subsidiary business ( XXXX XXXX XXXX  ( XXXX ) ) that we are launching.I made deposits in the same form and fashion into XXXX XXXXXXXX XXXX ( XXXX ) that I have for a decade in my other accounts. 

On or around XX/XX/XXXX, CHASE " Fraud Detection '' ( CFD ) flagged and restricted this account, as well as the +/- {$95000.00} in same. The only notification I received from CFD was an electric notification in the CHASE Online account, which required some research to find. I immediately contacted my local Business Banker, XXXX XXXX ( XXXX - ( XXXX ) XXXX ) ) to assist. From XX/XX/XXXX - XX/XX/XXXX, XXXX XXXX attempted to get cooperation from the CFD to reopen the account, with very little success. 

On XX/XX/XXXX, XXXX XXXX finally learned ( from his own bank ) that checks deposited on XX/XX/XXXX needed validation. He personally undertook the task to work with CFD to accomplish same.On XX/XX/XXXX, despite XXXX XXXXXXXX XXXX efforts, the account was inappropriately closed. 

On XX/XX/XXXX, the local Chase Branch Manager, XXXX XXXX ( a CHASE employee of XXXX years ), contacted CFD, while XXXX XXXX continued validating deposited checks, to have the account re-opened. On XX/XX/XXXX, XXXX XXXX successfully reopened the account, and was advised that the {$95000.00} in restricted funds would be returned in 3-5 business days. It was not. 

From XXXX, XXXX XXXX and XXXX XXXX continued to monitor the account for the return of funds and maintain contact with CFD, but no funds were returned. On XX/XX/XXXX, I personally contacted CFD for instructions on how to proceed. They were uncooperative, unhelpful, unprofessional, and, at times, downright incompetent and inept. They could not give any direction whatsoever on how to resolve the situation without regurgitating corporate-speak about " verifying phone numbers with XXXX '' on their end as some be all, end all. Elevation to the supervisory levels was equally as futile. 

On XX/XX/XXXX, XXXX XXXX continued his efforts to " validate '' checks that CFD either did not or " could not '' validate, despite all the maker 's of the checks in question -- and their banks -- ready to assist us. Interestingly, {$4900.00} was arbitrarily released by CHASE after XXXX XXXXXXXX XXXX  efforts into an XXXX XXXX XXXX XXXX  companion Savings account, but no additional funds were released. 

On XX/XX/XXXX, I sat personally for 8 straight hours in the CHASE Branch near me with XXXX XXXX, who communicated by phone with CFD. She was the consummate professional, and sought to resolve the issue immediately. She was nonetheless met with resistance from the CFD, most notably at the supervisory level, who were ineffective and even downright rude to their own CHASE colleague, XXXX XXXX. Despite XXXX XXXXXXXX XXXX contemporaneous efforts with CFD, the CFD notes were inadequate and required re-verification of checks previously verified. 

After 8 hours, and systematically contacting the make of each and every deposited check needing " validation '' by CHASE, between XXXX XXXX and 3 CFD supervisors, it wasn't until the 4th -- and most competent, non-supervisory CFD representative -- that the validations were complete on all deposits in question. An internal email string including XXXX XXXX on this date will validate this. The 3 earlier supervisors were not only ill-equipped to handle their job ( one actually cut XXXX XXXX off and went to lunch, and another refused to call someone awaiting a call to validate a check because " he already tried once and wasn't doing it again '' ) but downright inappropriate in how they communicated with another CHASE employee, let alone speaking with a bank customer or member of the public. 

On XX/XX/XXXX, I returned to the local branch to withdraw my funds and close all accounts. I was advised that the matter had been elevated to XXXX XXXX, Director of Operations at CHASE for approval. The funds have not been returned.