Consumer complaint received 2024-10-08 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:
Chase Bank used the promise of a {$300.00} bonus to entice me into signing up for a checking account and reassign my direct deposits to them. While I have followed their instructions, they have refused to let me access my funds which are now deposited into the Chase account. Multiple, patient, attempts to understand the situation and work with the bank towards a solution have led nowhere. Per my understanding of my most recent of many conversations with Chases bankers there is no explanation as to why I can not access my money, and thus no way to solve an unidentifiable problem. In essence, I should accept that two of my paychecks have simply disappeared, close the account, and move on. I financially and temperamentally can not accept that. 
A few weeks ago, I received a mailer from Chase advertising a {$300.00} reward for signing up and receiving direct deposits totaling more than {$500.00} within the first 90 days of your account. As someone who earns very little in New York, this was a great incentive to open my second-ever checking account. I would not have opened that account if not for the offer. 

On XXXX XXXXXX/XX/XXXX, I took some time off work and quickly walked about a mile over to the Chase Bank located at XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX. There, a staff member told me that I would require a statement from my previous bank, or other utility bill, as proof of residency ( rather than my health insurance bill which I had with me ). Since the banks would have reduced hours on Saturday and high demand, she advised me to find the offer online and open the account from home. She showed me how to navigate to the Chase Bank website and open an account there. 

On XXXX XXXXXX/XX/XXXX, I settled in and looked up the offer as it was written on the mailer. It was displayed prominently on Chases landing page and a link took me to begin the process of opening my account. Five minutes after noon, Chase emailed me that my account was ready to use. Furthermore, they had a form already pre-filled with my account information to give to my employer and make Chase the destination for my direct deposits. Just over an hour later, I alerted my employer that I would like all future direct deposits to go to that Chase account. 

I got my first hint that something was wrong when my account stopped working sometime either on XX/XX/XXXX or XX/XX/XXXX. On the XXXX of this month, Chase sent me an email saying that my account was restricted. On the XXXX, I headed to the Chase Bank at XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX. There, a banker told me that my account had a restriction because they needed to verify my identity. I had brought several documents including my passport, XXXX, and mail in anticipation of that exact scenario. After a while on the phone with Chases XXXX , he assured me that all should be well. I tried logging on again and my account appeared to be working. Unfortunately, that was short-lived. 

Later that day, I knew I should have received my paycheck as a direct deposit, and yet the account still showed a balance of {$0.00}. I returned to the XXXX XXXX Chase and saw a different banker. She also connected me to XXXX who told me that my account was closed-pending and that she could not process the direct deposit. At that point, I told her that another banker had just addressed that restriction for me, and fortunately, he was within my line of sight. I waived him over and he spoke briefly to her, and they agreed to call in another department that handled the restriction. There, I underwent an extensive verification process with multiple pop quiz-style questions to identify me ( What color is your XXXX XXXXXXXX, etc ). 

Finally, the phone banker told me that I was once again verified, but there was no direct deposit, which directly contradicted the banker Id just spoken to on the phone who said there was a direct deposit that could not be posted because of the restriction. To me this was the largest red flag that there was essentially no accessible holistic accounting record, at least to do with me, at Chase Bank. Every time an issue arose I would have to start explaining to someone who not only had no idea but had no other way of knowing what else was happening with my account. That pessimistic outlook turned out to be unfortunately prescient. Both bankers told me that the deposit would soon reflect on my phone within a day or two and there was nothing else to worry about. 

Indeed, my balance soon began to show my direct deposit. I thought after three attempts and perhaps as many hours I had finally settled my affairs with Chase and could begin to use my money. Since my rent was due by the end of XX/XX/XXXX, I used the night of the XXXX to set up a recurring monthly XXXX with my roommate beginning then and again on the last day of every month. Chase emailed me at XXXX XXXX on XX/XX/XXXX saying they could not process my XXXX. At this point, I had tired of Chase and knew this would mean going back to the bank, being assured that I was verified, before suffering the same trouble. I was beginning to panic and despair. 

I missed my rent payment on the XXXX because of Chase Bank. The XXXX was equally consequential because failure to pay my electric bill would amount to voiding my payment plan, meaning my power would be turned off unless I could pay nearly what I make in XXXX months all at once. At this point, nearly all my money was tied up at Chase. 

On Monday, I took time off work to go to the XXXX XXXX XXXX, XXXX, XXXX XXXXXXXX Chase branch again. There, I was once again put on a phone with XXXX of the banks tele-staff. He spoke to me for perhaps XXXX minutes and then put me on hold for nearly fifteen. 

At some point on the XXXX, my Chase debit card arrived in the mail, so I hoped that I could withdraw the money and quickly pay my bills. When I got to the ATM, it asked me to verify by email, which I did, and then told me that it could not process the withdrawal and to call a given number. I called the number and the banker told me that my account was once again on close-pending and that nothing could be done. By the time I got home from the ATM, ConEdisons app was displaying a large red notice demanding that I pay my entire balance in full. 
None of this would have happened if Chase actually authenticated my account when they said they did, or let me know that they couldnt, or at any point put a notice for other bankers so that I did not have to explain the same story and listen to bankers do the exact same thing that had not worked. 

I understand that folks in finance may find financial precarity alien. But for those of us in service, minimum wage, and hourly jobs when you have your money is as important as if you have it. I make just enough to get by. Chase Bank has now put me in a financial predicament that will set me back months all because they wouldnt authenticate an account after XXXX ( XXXX ) different follow-ups despite insisting they had already done so in a majority of those visits.

Company response to consumer: Closed with explanation