Consumer complaint received 08-10-2017 about Checking or savings account (Other banking product or service) with JPMORGAN CHASE & CO. (CO).
Issue: Managing an account
Sub-issue: Banking errors

Complaint: XX/XX/XXXX : Check # XXXX for {$500.00} deposited into client trust XXXX account ending in XXXX. XX/XX/XXXX: I discovered possible fraud on business operations account ending in XXXX. I called Chase to have account frozen - this account was no longer able to be used at all. I went to local branch to have operations account XXXX closed and open a new one. The new operations account was opened and ends in XXXX. XX/XX/XXXX : The check # XXXX was moved from old account XXXX to new account XXXX along with all other funds held in account XXXX. On that same date, another {$500.00} was deposited. I was unable to see the deposit slip or check image. I called my local branch to quickly verify that the funds were there as it was odd for me not to be able to view the deposit slip or check image. I also contacted the client from whom I expected a deposit in the amount of {$500.00}. XX/XX/XXXX : Having done my due diligence by calling the bank, contacting clients, and waiting a little over a week, and believing this {$500.00} was a client payment, I billed out the funds from the XXXX  account XXXX to the new operations account XXXX. At this time, the funds from check # XXXX were earned and transferred from XXXX account XXXX to new operations account XXXX. Two transfers in the amount of {$500.00} were made on this date from the XXXX XXXX to operations XXXX. XX/XX/XXXX : Chase Bank withdraws {$500.00} from XXXX XXXX without prior notice to me. This caused the state monitored trust account XXXX XXXX to go negative in the amount of {$260.00}. Immediately after this withdrawal, the interest adjustment controlled by the state was deducted in the amount of {$0.00} making the account negative in the amount of {$260.00}. No overdraft fee was charged at any time. XX/XX/XXXX : A deposit in the amount of {$1000.00} was made to XXXX XXXX, making the balance {$730.00}. XX/XX/XXXX - present : I have contacted Chase by phone and via the secure message center. Chase 's executive department stated they were reviewing and researching the situation and asked what compensation I was requesting. I informed Chase that no amount of compensation can or will fix the damage done to my professional record and reputation, or for the embarrassment of having to disclose this negative mark each and every time I apply for employment or contract work, and will certainly negatively impact my professional future as I intend to XXXX XXXX XXXX in future, a position that is much harder to move into with negative financial records. However, my opinion on the matter is that if you make a mistake, you bear the costs of it. I therefore asked for {$500.00} to be returned to me as it was not my error that caused this problem, and so I should not suffer for the mistake. XX/XX/XXXX : Chase Bank sent me a letter stating that the bank error was their fault and apologizing for any " inconvenience '' it may have caused.XX/XX/XXXX : Per the rules of XXXX regulation, I am required to self-report issues such as a negative XXXX account. I called XXXX regulation and spoke to XXXX XXXX XXXX who stated that as of that time no file had been sent by Chase to XXXX, but that one would be created when Chase reported the negative balance. XX/XX/XXXX : Per XXXX XXXX, I was required to provide the letter from Chase as well as 3 months of statements on the XXXX account for XXXX review. These documents were emailed to her on this date. XX/XX/XXXX : XXXX representative with the executive department, who had been handling the issue, called me and stated that their resolution to the issue was " we are doing nothing. '' They added that they would not compensate me at all, that they would do so only if there had been fees incurred. I demanded to speak to the supervisor of the representative. She stated that a supervisor/manager would only call me back if " something changed from the resolution '' that Chase will do nothing to rectify their error. I contacted Chase again and was again pushed through to the executive department where they will again review the issue.

Company response to consumer: Closed with explanation