Consumer complaint received 2024-12-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
On Monday XX/XX/year>, i collected a check through my lawyer in the sum of {$4000.00}. 

This check is an advance on an accident claim in which i was struck by a vehicle on XX/XX/year>. 

this check is to help me aquire essential items like food, clothing and transportation whilst recovering, since it has been 3 months since the accident i have exhausted my funds whilst trying to cope with my recovery and inability to return home to earn a living. in dire need of funds i took this cash advance. 

i collected the check on monday XX/XX/XXXX and took it to chase bank with whom i started banking shortly before the accident asked the teller to deposit the check. she noted that the check would take 24hrs to clear as it came from another bank. XXXX XXXX XXXX XXXX ) i said it wasn't an issue since 24hrs wouldn't affect me. the following morning i sign into my bank account only to notice to my absolute horror, that the deposited now showed a message saying that JP MORGAN CHASE was going to hold my check until XX/XX/XXXX ... XXXX day. i immediately called the bank to find out what on earth was happening and why my check was being held. 

Upon calling chase the agent told me that the check was being help because XXXX XXXX XXXX XXXXXXXX '' wouldn't release the check. and any information to 3rd parties, this sounded ridiculous to me as it would mean that the countries largest banks do not have a secure method of communicating with each other. I asked the agent what she would need to release the hold on my check, she then transferred me to holding department. the agent i spoke to there said they needed the phone number of the business or owner of the business the issued the check. the issuing company is XXXX XXXX i have had no knowledge or dealings with this company before requesting this answer and all contracts and communication were taken care of by my lawyer. I explained this to the agent and requested them to hold whilst i reach out to my lawyer. My lawyer then provided me with the name and number of the gentleman who owns the business and i returned to call with the chase agent and provided the number. the agent seemingly input the number into a system and then proceed to tell me that the number wasn't in their system, now i have no way of knowing how they attempted to verify this number, or if they even did, i provided the information they requested and even called the owner of the business, at one point i conferences the call with him and the agent. to make a long story short chase continued to deflect the blame away from themselves holding my check onto XXXX XXXX XXXXXXXX even though XXXX XXXX confirmed with me that not only had XXXX XXXX  XXXX, already taken the funds from his account, they also tried reaching out to chase on his behalf and chase refused to assist, claiming they couldn't confirm whether or not the person calling was indeed from XXXX XXXX XXXX 

i let chase know the purpose of the check and that i urgently needed the money providing them, with not only the contact information for the issuer but also for my lawyer with whom they could easily verify any information they needed about the situation. the check also clearly stated what it was for in the comment section with the words " CASE LOAN ''. it is XX/XX/XXXX and i so do not have access to the funds that i desperately need. chase has never had any issues with me or my account in the few months i've been with them. all my deposits have been in person and in cash for with the few exceptions of XXXX transactions between my mother and younger brother for small amounts the largest being just over {$100.00}. usually going from me to one of them. 


water does stand out as suspicious is that my credit which i have with chase becomes due for payment on XX/XX/year> and is one of the reasons i got this advance. should i have gotten my funds on time i would have be able to clear out my credit card usage a little over {$700.00} at the time of deposit. chase would not get any interest on my card usage, however with my funds being held till XXXX day, chase has guaranteed themselves a fat interest on what is now my XXXX XXXXXXXX credit statement that has increased rapidly due to them holding my check forcing me to use my credit card for for transportation and food and other essentials that i would have otherwise been able to do with the funds from my deposits. their deliberate act of holding my funds without good reason other than " they can '' allows them to take advantage of my upcoming card statement, to milk me with interest even though i should have funds in my account. even though it is them, JP MORGAN CHASE AND NOT XXXX XXXX XXXX THAT IS HOLDING MY CHECK. 

Not only that, there was a scheduled home equity payment with chase home finance that was made and then returned because the transaction put my account in a negative even though the deposit had already been made and was being held by chase themselves this subtle control of my funds to eek out a hefty interest from me simple because " they can '' is nothing short of strong arming me knowing i'm in a desperate situation and can't do anything to fight the mighty J.p. morgan chase.

Company response to consumer: Closed with explanation