Consumer complaint received 2025-10-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
I opened a business checking and savings account with Chase Bank on XX/XX/year>, under my company, XXXX XXXX XXXX XXXX, shortly after obtaining my XXXX from the IRS. 

At the time of opening, I clearly explained to my banker, XXXX XXXX, at the XXXX, NY XXXX, that my business provides digital design, video editing, social media management, and advertising services, and that I work with clients both in the United States and XXXX XXXX ( XXXX, XXXX, etc. ). The account was opened with full transparency and no issues. 

On XX/XX/year>, my business account was suddenly restricted and blocked without any prior written notice. The next day ( XX/XX/XXXX ), I received an online notification, but since my online access was already XXXX, I could not view it. No physical notice or letter was ever mailed to me. 

Between XX/XX/XXXX and XXXX, I called Chase several times to understand the reason for the closure. I was informed that the restriction was triggered by a client payment of {$1700.00} USD sent via XXXX XXXX by my client, XXXX XXXX, as payment for legitimate services. Because XXXX XXXX file showed the clients name ( XXXX XXXX ) in both sender and recipient fields, an internal fraud alert was automatically raised, and Chase proceeded to close my account. 

I explained that the transaction was legitimate and supported by a signed invoice and service agreement, and that XXXX I or my XXXX responsible for how the XXXX file displayed the name. Chase representatives stated that they could not release the funds unless they spoke directly with XXXX XXXX by phone, using a XXXX number listed in the XXXX database. I clarified that my client resides in XXXX, does not have a XXXX phone number, and offered to provide identification, notarized documentation, or any other form of verification. Chase declined all alternatives and maintained their position. 

I was also advised to request a reversal from XXXX, but XXXX confirmed that only Chase could initiate such a reversal. When I relayed that information, Chase refused to take any further action. 

On XX/XX/year>, I visited the XXXX branch in person and, with the assistance of XXXX XXXX, submitted a claim to return the {$1700.00} to XXXX, with the expectation that the rest of my balance would then be released by check. The following day ( XX/XX/year> ), the claim was rejected after Chase contacted XXXX and confirmed that the transaction was authorized. However, I was never informed of this decision by mail or email. I only became aware of it when I returned to the branch on XX/XX/XXXX, where the staff printed the rejection notice for me. 

During that visit, the branch XXXX spoke with the XXXX Department and was told that the account would be finalized and that a check would be mailed. However, as of today, no check has been received. 

On XX/XX/year>, I again contacted Chase by phone. I spoke with XXXX XXXX Customer Service ), XXXX ( Fraud Prevention ), and XXXX XXXX XXXX Customer Service ). 
- XXXX confirmed that no check had been issued and refused to disclose the balance because the account was closed, stating that the funds would not be released until XXXX XXXX identity was verified. 
XXXX XXXX confirmed that there was no case number, only an internal alert dated XX/XX/year>, and that my account balances were {$5700.00} ( checking ) and {$20.00} ( savings ), totaling {$5800.00} USD. 

Despite my repeated efforts to resolve this matter in good faiththrough multiple calls, in-person visits, and by submitting full documentationChase has not provided a written explanation, a case reference, or a clear process for the release of my business funds. The account remains closed, and the total balance of {$5800.00} USD continues to be held without resolution.

Company response to consumer: Closed with explanation