Consumer complaint received 2025-07-15 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: JPMORGAN CHASE & CO.
State: VA

Complaint narrative:
Dear CFPB, I am a XXXX XXXX XXXX XXXX ) who opened a checking and savings account at Chase. Due to Chase 's failure to properly handle my XXXX form, I was wrongfully charged a 20 % federal interest withheld. I have made many in-person visits to the branch, sent multiple follow-ups, and complied with all instructions, but was ultimately denied a refund due to Chases own delays and errors. I am seeking assistance from CFPB to recover the withheld funds and hold Chase accountable. 

Timeline : -XXXX XXXX, XXXX XXXX  I opened a checking and a savings account at Chase XXXX XXXX XXXX. As an XXXX, I provided the banker with all documents required and completed a XXXX form at account opening as instructed. However, the banker incorrectly submitted an incomplete XXXX, which I was unaware of until a tax issue arose. 
-XXXX  XXXX : A 20 % withheld federal interest was deducted from my accounts on all interests received and account opening bonus. I received no prior notification of the issue or the deduction. 
-XXXX  XXXX : I called the customer service but the agent said I need to go to the branch. I visited the same branch to address the withholding ; the banker who opened my account told me my XXXX was fine. 
-XXXX  XXXX : After further follow-up, the banker admitted the back office rejected the XXXX due to missing information and asked me to return to re-sign. So I went to the branch to re-sign and complete XXXX the next day. 
-XXXX XXXX : The banker informed me that he had submitted a refund request. 
-XXXX  XXXX : I was told the refund could not be processed because the withholding ( XX/XX/XXXX ) occurred more than 30 days before the newly signed XXXX ( XXXX XXXX ). I was asked to return again to sign another document to resolve this. So I returned and signed the additional document in the same week. The banker emailed me when submitting the new request. 
-XXXX  XXXX : Banker emailed me stating that since the valid XXXX on file was dated XXXX XXXX, and the withholding occurred before that ( XX/XX/XXXX ), I am not eligible for a refund. 

I have been subject to inaccurate and misleading information from branch staff multiple times. The entire process has been incredibly time-consuming and frustrating. I was also required to make many separate visits to the branch, followed up by email almost every week, called Chase 's internal complaint 3 times, and spend months following up to resolve an issue that was entirely caused by Chases internal errors. Chase staff appear unfamiliar with the proper procedures for XXXX clients and XXXX documentation. I'm not the only customer who has experienced this issue, as there are many XXXX  living in the region. It is unfair that customers like me, who follow the requirements in good faith, are penalized due to internal errors. I was ultimately denied a refund because of delays caused by Chase, not because of any mistake on my part.

Company response to consumer: Closed with monetary relief