Consumer complaint received 2024-03-19
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO. (NY)

Chase XXXX XXXX XXXX : Opened Business account with Chase in XXXX of XXXX, deposited $ XXXX, have been unable to access funds despite several branch visits and emails/phone calls for 8+ months. Request Chase Bank release originally deposited funds, initially promised promotional bonus, as well as due and accrued interest on this amount. 

Detailed Summary : XX/XX/XXXX : Received promotional email to earn up to {$750.00} when you open a Chase XXXX XXXX XXXX account with qualifying activities. 
Criteria : Minimum {$30.00}, XXXX deposit, maintain for 60 days. 

XX/XX/XXXX : Walked into Chase branch in XXXX XXXX, Illinois ( was traveling at the time ) in order to open the account. Completed all paperwork to open account ( and apply for business credit ) with XXXX XXXX. Began making XXXX deposits from Chase XXXX XXXX XXXX XXXX Account to fund {$30.00}, XXXX. 

XX/XX/XXXX : Received Action needed email, requesting additional information in order to keep the account open. Email warned of account restriction. 

XX/XX/XXXX - XX/XX/XXXX : Was called into the branch several times for several issues. Met with XXXX XXXX & XXXX XXXX XXXX. 
- Scanner did not scan signature properly, needs new ink signature. 
- Banker forgot to get specific document signed, needs ink signature. 
- ID needs to be re-scanned. Identity needs to be verified. 
- EIN verification required. 

XX/XX/XXXX : Emailed EIN verification document in. Followed up with both XXXX XXXX & XXXX XXXX XXXX via emailand the Chase Support line via phone. 

XX/XX/XXXX : Received 2nd Action needed email, requesting additional information in order to keep the account open. Email warned of account restriction. 

XX/XX/XXXX : Walked into Chase branch in XXXX, NY in order to provide any additional information, not knowing what the issue was. The same issues as above were listed, and so new paperwork needed to be signed and my ID needed to be re-scanned. Was advised that I would be contacted if any additional information were required, and that if I didnt hear back, everything with the account should be good. 

XXXX - XX/XX/XXXX : No debit or credit card ( s ) were received for this business account, and eventually, online banking was restricted/unavailable. Continued to follow up via phone, and either could not reach a point of contact ( no response from bankers ) or was simply told that the account is still under review and that the team does not yet have an update. At one point, spoke to XXXX XXXX who advised the bank may close down and reopen my account, but that I would be contacted to do so. 

XX/XX/XXXX : Walked into Chase XXXX branch in XXXX. Met with banker ( XXXX XXXX ) and branch manager ( XXXX? ). Upon review of the account, revealed that the original account had been restricted. Banker was profusely apologetic ; the reason for the account closure was that the XXXX XXXX account was erroneously processed as an LLC by the original banker. Confirmed this was an error on Chases part, and reopened my account the same day correctly as a XXXX XXXX. SSC, ID, EIN verification and all account documents were recreated, resubmitted, reverified/scanned in. Was told that the $ XXXX funds from the original account closure would be overnighted/mailed to my mailing address, at which point I would be able to re-deposit. Banker also confirmed that the promotional bonus ( {$750.00} ) for which I originally opened the account would also be applied. 

XX/XX/XXXX : Continued to follow up via phone and email as neither check nor account cards were received. 
XXXX : called XXXX XXXX, no answer. Left VM and emailed. 
XXXX : emailed. 
XX/XX/XXXX : received email Your new Chase business account will close unless you add funds soon. 
XX/XX/XXXX : emailed XXXX XXXX, XXXX XXXX and XXXX XXXX for assistance. 
XX/XX/XXXX : followed up with all 3 via email. 

XX/XX/XXXX : Connected with XXXX XXXX via phone and email. 

XXXX : Forwarded all previous communications and contextual history to XXXX for help. 
Received phone calls from several Chase support agents who introduced themselves, said theyd been assigned my case, and that they would follow up once they had an update on the funds, the promotion and the account status. 
Apart from these no update phone calls, did not receive any answers, nor received funds or card access. 

I have been banking with Chase since I first arrived in XXXX XXXX XXXX as a XXXX in college and. As a XXXX year old, I opened a business account with Chase for my XXXX XXXX as I trusted the bank and was offered a promotion to do so. I have been following up with all the resources at my disposal to try and get in touch with Chase and receive a resolution on this matter/ I have spent so much time and energy to absolutely no avail. I have been unable to access {$30000.00} for over 8 months. I was laid off from work in XX/XX/XXXX and I really need to be able to access my money. It is for this reason that I am submitting this complaint in an effort to receive support to rectify my situation.