Consumer complaint received 2025-04-30 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: CA

Complaint narrative:
On XX/XX/XXXX I deposited a {$25000.00} verified Chase cashier 's check from a tenant covering 6 months of rent into my Chase Business Checking account. On XX/XX/XXXX I deposited the second {$25000.00} verified Chase cashier 's check into the same checking account for the remaining 6 months of rent from my tenant. Both checks cleared fine as they were credited to the total balance of the account. 

However, on XX/XX/XXXX, it appeared as if my Chase Business account was restricted & later frozen. No local Chase branch manager could provide an answer for days. 

On XX/XX/XXXX, I received a private call from someone at Chase going by the name of XXXX XXXX XXXX XXXX XXXX questioning the source of the funds being paid towards my business. I gave the source information from the tenant 's information, our leasing agreement and all of our documented communication prior to the call. She assured me that it was 2 valid {$25000.00} checks issued by Chase from a Chase branch. She also assured me that my account was restricted at no fault to me or my actions, but an internal investigation into the source of the funds from a fellow Chase customer ( my tenant ) ; which was the reason for the call. 

I also later communicated with her via email on the same day " As discussed, I would like for my business account to not be restricted as soon as possible so that I can resume paying my commercial landlord via ACH, as well as my employees and contractors at my XXXX  XXXX  in via XXXX XXXX as usual. '' On XX/XX/XXXX, I inquired with the Chase representative " XXXX XXXX XXXX through a JPMorgan Chase secured message platform called " virtru.com '' stating the following : " Hello XXXX, Has there been an updated time for the account to be restored? '' Her response : On XX/XX/XXXX XXXX XXXX XXXX wrote : " Hello, I am still waiting on a response. '' On XX/XX/XXXX, my Chase Business Checking account was closed. 
Yet my total balance of {$86000.00} was still unavailable to me completely. 

I submitted her another response : " Hello XXXX, I received a notification that my Chase Business Debit card was removed from my XXXX XXXX. Then when attempting to log on to my account it stated that it was locked. 
Im presuming that this is all related to this situation. Do you have any insight as to what is going on at this point with my account? 

Thank you '' I never heard a respond from XXXX '' XXXX '' at all. 

At the end of my XX/XX/XXXX checking statement it stated the following : XX/XX/XXXX Debit DDA  - Check Charge - {$50000.00} XX/XX/XXXX Debit DDA - Check Charge - {$36000.00} On XX/XX/XXXX, I was issued a single {$36000.00} cashiers check from JP Morgan Chase. My Chase Business checking account was closed. Although there was another {$50000.00} Check Charge on XX/XX/XXXX as noted by my checking statement, the remaining {$50000.00} was being held captive by Chase with no explanation or expectation of when I would receive my business funds. 

I followed up with numerous phone calls with Chase Business customer support for months consistently. Each time, no representative could give me an answer as to when the rest of my business funds would be available. At times, the representatives said that either the funds were being looked into at the " back office '' and that there's no way for them to get in contact with the " back office '' or when they would actually look into this themselves to give me an answer on when my funds would be released. 

On XX/XX/XXXX, I sent XXXX XXXX the following secured message via Virtru : " Hi XXXX XXXX, Im inquiring about the status of my remaining {$50000.00} in funds in this business checking account that I havent been able to access since XX/XX/XXXX. 
When will I be able to access the funds? '' On XX/XX/XXXX XXXX XXXX  XXXX wrote : " Hello, A check was issued on XX/XX/XXXX for {$36000.00}. please see below : [ image ] '' On XX/XX/XXXX, I responded : " Hello, I was referring to the two {$25000.00} checks that the tenants provided that were deposited into my business checking account.

Prior to making those deposits, I was advised by a Chase Private Client banking advisor that I should request the tenants pay their rent via Cashier 's Check directly from Chase '' I have still not received a response from XXXX XXXX XXXX XXXX XXXX. 

I've called about this again on XX/XX/XXXX, and was told to " call back in a couple of months '' and that it's " strange that it's taking this long to get your funds back ''. 

I called back on XX/XX/XXXX and again after 2 hours of waiting on hold and transferring internal departments, no clear explanation or expectation of when I will get my funds back. 

I've been beyond patient enough at this point. This entire ordeal, from the lack of business funds that I'm owed to the lack of transparency by JPMorgan Chase, has cause both a financial, mental and emotional distress. 

My account is still closed. My funds are still being held for over 512 days and counting as of XX/XX/XXXX.

Company response to consumer: Closed with explanation