Consumer complaint received 2024-07-14 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Unable to open an account
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
This all started with a Chase XXXX Checking Account that was opened with my XXXX at a local branch in my hometown. I opened the account shortly after I got my first job at XXXX XXXXXXXX XXXX so I could properly manage my income. 

Long story short, a few years go by and my XXXX and I no longer speak to eachother. 
But, he was still able to view all of my account activity and had full access to all of the funds within the account. 

I did not find this appropriate as we no longer associated with eachother. 

So, I began to re-direct my income into a different account. I redirected all of my assets into a cash management/brokerage account where I could have financial privacy and control over my own money. Suddenly, my income began to grow. I made great financial investments and grew my net-worth exponentially. 

But, this account has limitations. I can't spend any of the money because it is a management account, not a spending account. So, at this time I have access to a great amount of hard-earned funds, but no way of actually using it. 

During the time period that I was making these investments, I had a negative balance in my chase account that was approximately XXXX {$0.00}. An overdraft fee bumped this negative balance to XXXX  {$16.00}. Then, the account was closed due to a a negative balance and/or insufficient funds. 

In college, I was able to move my money from my cash management account to my XXXX account and spend with that platform. In hindsight, it was a temporary fix to what a huge problem. As a college student, in time of duress, this appeared to be a simple way to get by. 

Now, I am finished with college. I attempted to open a total checking account with Chase and they said I am no longer able to do so due to an outstanding balance with them. Then, I schedule a meeting with a local branch. The manager at the branch had informed me that they are no longer collecting the outstanding balance. He proposed that I should dispute this closed account or derogatory mark on my credit report and then try again. 

Here 's the problem, There is no indication that an account was closed on any report that is tied to my name. I looked everywhere and I mean everywhere. I've reveiwed all of my credit reports from XXXX, XXXX, XXXX, and even my consumer reports through XXXX. There is no indication of any closed accounts with Chase Bank. So, the branch manager unintentially pointed me towards a dead end. 

I have reached out to chase and they just keep telling me to schedule a meeting with an in-person branch manager. My initial visit with Chase Bank was very thorough and the manager assured me that this was the only way that I could possibly open an account with them because they are no longer seeking to collect the outstanding balance. 

To make matters worse, I am unable to open a bank account at any bank in the US. Likely, due to this " closed account ''. 

I have currently scaled my investments massively and would like to open a business and/or LLC so that I can manage my assets in a more efficient manner opposed to doing it through a personal account. 

I need help. Chase is unable to help me clear my outstanding balance and start new accounts anywhere at any bank in the country. This is hindering my ability to move forward with my goals and aspirations.

Company response to consumer: Closed with explanation