Consumer complaint received 2021-10-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: JPMORGAN CHASE & CO.
State: CT

Complaint narrative:
I have been a Chase credit card customer for roughly 2 years. When a Chase bank branch opened in my town, I decided to move my checking and savings accounts to Chase ( I liked the Chase mobile apps, had decent experiences with Chase as a credit customer ). 
On XX/XX/2021, I logged into my Chase account, using my Chase credentials and OTP verification. Once into my account, I selected the options online to open a new checking account. Chase prefilled my information, which I confirmed as correct, and concluded the account opening by sending me an email regarding the new checking account, and linking the checking account to my existing Chase online account. In the days following my online access, I deposited a check via the mobile app., to my new checking account, changed my direct deposit with my employer, and ordered checks for the new checking. On XXXX XXXX, XXXX, I received a call from the Chase Virtual Banker, welcoming me to Chase banking, offering to assist with my new account, etc. 
I received my debit card approximated XXXX XXXX and activated it from my cell phone per the card instructions, confirming my account numbers and other information. 
My direct deposit was directed the the new Chase checking on XX/XX/XXXX ; I proceeded to pay my typical bills from the new Chase checking account, including my Chase credit card.

On XX/XX/2021, having a seemingly smooth three weeks of checking account transition, I again logged into my Chase online account ( same credentials and new OTP code ), and setup a new savings account. The savings account linked to my checking, and credit card ; online banking now showed 3 accounts with Chase. After completing the setup, I access my previous banks savings account online, to setup an external transfer to move the funds from my previous financial institution to Chase. 
XXXX XXXX, XXXX, I received notification from my previous bank that they had completed the small deposits for the external transfer linking, and that I need to verify the amounts to complete the transfer link. I attempted to access my Chase account via the mobile app., but was denied access, with a pop up notification stating that my account was locked due to suspicious activity and to call Chase . I called Chase, informed by the IVR of a 3+ hours hold time, requested a callback. Chase representative called me back approximately 2.5 hours later, and stated that all my Chase accounts had been restricted, to lift the restriction, I needed to go into my local branch to verify my accounts with my ID. My local branch had already closed by the time the call was made, and the Chase rep. informed me that I would not be able to access my accounts or funds until verification was completed. 
XXXX XXXX, XXXX, I walked into my local Chase bank, explained that I had setup new accounts, but that my accounts were restricted, and the Chase rep informed me I would need to bring my ID to the bank to verify. Apparently, there was only 1 " relationship banker '' that could assist me, and after waiting for 30minutes, I was able to speak with him. He verified my accounts, SS #, and drivers license, then told me that he was unable to lift the restriction, and would need to call into Chase. He called while I was in his office, provided a code to the rep.. He and the phone rep. had a brief conversation, that included the phrases " red flagged '' and " accounts closed ''. As the relationship banker concluded the call, he informed me that my new checking and savings accounts were closed or being closed by Chase, due to a " red flag '', and that no one was able to reactivate my accounts. My only option was to open a new set of accounts with Chase. I was told that my direct deposit scheduled for Friday from my employer would likely bounce back to my employer as the accounts were to be closed. The banker apologized, and informed me that Chase would not provide compensation for any bounced checks, transactions, overdrafts, etc. resulting from the account closing and Chase sending my finances into turmoil.

I left the bankers office, incredibly upset, and urgently needing to call my payroll officer to attempt to stop my direct deposit to the Chase Checking.

Once I'd stopped my deposit, I called Chase customer service to find out when my accounts were closing, and why ( what were the " red flags '' ), and how I access the remaining funds in my accounts. My first call to Chase customer service, ended with dead air ( rep answered, but never spoke, after a few minutes, I disconnected the call, and tried again ). The second call, I immediately requested a supervisor, the rep transferred me to dead air line ( call was answered, no one spoke, i disconnected ). Third call, I was informed I needed to speak with Fraud Dept., rep said she would transfer me, after over an hour on hold, the next rep. explained I needed the speak with the Fraud Dept., transferred me again. Finally spoke to XXXX with Chase Fraud, who informed me that my accounts were closed because I opened the accounts online, and because of suspected fraud ( not my fraud, or anything in my history to indicate fraud ) my accounts were flagged and could not be reactivated. This explanation made no sense, as Chase online offers the option to customers to open accounts online, so why would that flag the account, and I had existing accounts with Chase... I requested a supervisor, XXXX transferred me to XXXX. XXXX informed me that my accounts are scheduled to be closed XX/XX/XXXX. That if I went to the bank with proof of my residence and social security, along with other proofs of identifications, that they may be able to re-establish my existing account. If I choose not to continue Chase banking, I would need to provide this proof to my local Chase branch anyway to access my remaining funds. Also, if I choose not to continue to bank with Chase, the new account bonus, would need to be refunded to Chase. XXXX also informed me that the checking account was first flagged, and then the savings account - so two separate flags. And there was essentially no explicit reasoning for why my accounts had been flagged, but the new accounts team flagged the online accounts. Possibly because I used my laptop in my office to setup the accounts ( when I regularly access my account via the mobile app. ), even though I was fully able to verify the account and the OTP code online, and had used the laptop at work several times in the past 2 years to access my Chase account. 
XXXX, noted my account for local branch bankers, and I ended the call. 
I have not yet decided if I want to continue any financial relationship with Chase

Company response to consumer: Closed with explanation