Consumer complaint received 2024-12-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Confusing or missing disclosures
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
What Happened? 
In XX/XX/XXXX, I became a victim of fraud involving checks that were wrongfully processed through my personal account with Chase Bank. As a result, Chase closed my personal account, causing me to lose {$5000.00}. Despite being a loyal customer of over 8 years at that time, I was not afforded the benefit of the doubt or adequate resolution. 

Now, as a Chase customer for over XXXX years, I am still facing similar issues that question the consistency and fairness of Chases policies. 

In XX/XX/XXXX, I was allowed to open a new business checking account with Chase Bank. After opening this account, I deposited {$3000.00}. However, shortly after the deposit, Chase informed me that the business account was being closed as well, citing that I was deemed a liability due to the previous fraud incident. 

At no point during the business account application process was I flagged or warned that opening the account would be an issue. Chase accepted my deposit and only afterward decided to close the account. This lack of communication and foresight has caused significant financial and emotional distress, including : My {$3000.00} deposit is now tied up and inaccessible, leaving me without access to critical business funds. 
The closure of the account feels unfair and inconsistent, as Chase allowed the account to be opened and funds to be deposited before taking action. 
I was not informed during the account creation process that the previous fraud incident would affect my ability to maintain a business account. 
What Actions Were Taken? 
By Me : I deposited {$3000.00} into the Chase business account after it was successfully opened. 
I contacted Chase customer service to understand the reasons behind the closure and to request the return of my funds. 
By Chase : Allowed the business account to be opened and accepted my deposit without any warnings or flags. 
Closed the business account shortly after the deposit, citing liability concerns related to the XX/XX/XXXX fraud incident. 
What I Am Seeking : Reimbursement of Previous Funds : I request the return of the {$5000.00} lost in XXXX due to the fraud incident, as I was not at fault and did not receive adequate resolution. 
Immediate Release of Current Funds : I request the immediate return of the {$3000.00} deposited into the business account. 
Clarification of Chases Policies : An explanation of why I was allowed to open a business account and deposit funds if I was already considered a liability. 
Transparency regarding Chases internal processes for approving accounts. 
Compensation for Damages : Consideration of compensation for the financial and emotional stress caused by these events, as well as any disruptions to my business operations. 
Why This Matters : This situation has not only caused financial hardship but also raises serious concerns about Chases transparency and fairness toward long-standing customers. I respectfully request that this matter be resolved promptly to restore trust and prevent further harm.

Company response to consumer: Closed with explanation