Consumer complaint received 2024-10-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: JPMORGAN CHASE & CO.
State: IA

Complaint narrative:
* XX/XX/year> - Signed a contract as a XXXX XXXX XXXXXXXX  as an XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. A {$25000.00} sign on bonus guarantee was part of the contract to cover moving expenses * Received {$25000.00} sign on bonus in the mail after signing contract & onboarding * XX/XX/year> - deposited check in person at my local Chase branch in XXXX XXXXXXXX, IA. Received no questions about said check & was made aware funds will be available XX/XX/XXXX after a holding period. 
* XX/XX/XXXX - received notification by both email and mail my account would soon be closed to protect against fraudulent activities. 
* XX/XX/XXXX - I called Customer Service to address the situation and was told account closure is only something that would happen if the check did not clear. I would only need to use number verification system if I needed my funds prior to XX/XX/XXXX which I did not. 
* XX/XX/XXXX - {$25000.00} check balance was made available to my checking account * XX/XX/XXXX- Chase account was closed with the {$25000.00} balance in my checking account without my knowledge. 
* XX/XX/XXXX - visited XXXX XXXXXXXX Chase branch in person and was told by a banker my account was permanently closed and I would receive a cashiers check with my funds within 2-3 weeks. 
* XX/XX/XXXX - Called Chase customer service to determine timeline of when to expect funds, since I need these funds to move across the country and begin my career as a dentist. I was then told my funds were suspended and not to be released until a number verification. I was then told these funds could be held forever, and I likely would not see them back. Representative asked for verification number for the check and the multiple numbers given by my employer & employers bank did not match their Chase verification system. 
* XX/XX/XXXX - Met with Chase banker & was made aware these funds are in suspension indefinitely until I can confirm a number verification through my employer. I was made aware this is the only verification system Chase offers & refused alternatives that my employer offered to authenticate check in person or through notarized letter. 
* XX/XX/XXXX - Contacted accountant through employer to make them aware of the case and was told Chase had cleared the check form their account back XXXX and that there are no other numbers associated with the company or the companys bank to verify this check. 
* Additionally, this circumstance falls under Unfair, Deceptive, or Abusive Acts or Practices Unfair, Deceptive, or Abusive Acts or Practices due to Chase 's unfair treatment in abruptly closing my account and indefinitely suspending access to funds without clear justification or communication. Additionally, the deceptive handling of my account and refusal to accept alternative verification methods imposed an unreasonable burden on myself & employer, undermining access to my legitimate earnings & ability to pay for a cross country move to begin work.

Company response to consumer: Closed with non-monetary relief