Consumer complaint received 2024-07-10 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: NJ

Complaint narrative:
On XX/XX/year> while using the Chase app, I attempted to deposit a late payroll check from my employer. Using the quick pay function, which I used in the past prior to being set up with direct deposit, I attempted to submit my late paycheck which was sent to me as a physical check. The app, showing XXXX options a button with a selected account and the option to deposit into the investment account. As there were no other options I chose to deposit as that was what I needed to do. After completing the deposit a screen came up stating I would need to wait XXXX  days for the funds to clear. I immediately called chase investments to get them to cancel this transaction. I was informed by their team that it could not be canceled until after the check " clears ''. XXXX minutes later the deposit was made visible in my investment account showing as " available for trading '' but not as " available for withdrawal ''. I called the investment branch again and was asked if I read the agreement which states that there will be holds for deposits up to XXXX  days. I informed them that I was aware of this but that the deposit was submitted to my investment account accidentally. I was then told that there was nothing that could be done about that and I would need to call back in XXXX  days so they can help transfer the funds. I told the team this would put me in a very bad position financially. I was then told that I should speak with the team at the chase checking dept. I called the checking department, after many transfers to managers then to claims and finally to a representative I was informed that I could bring the physical check into a branch and deposit that way as " the physical check deposit would supercede any others ''. I was also promised a note would be placed on my account to prevent any accusations of fraud. I then went to my local chase and was able to deposit the check with the teller who also agreed that that would be the best route in my situation. The next day I awoke to my account being overdrawn ( by an amount equal to how much it was overdrawn before I submitted the check ) and the check I deposited being added and then deducted. I called chase again and asked what happened. I was told that the check was already being processed by the chase investment side and could not be processed again. I then drove to chase and spoke with a teller who informed me that I was misdirected multiple times by multiple team members. The teller then filed a report on the team members. In asking about my funds I was then told I would need to speak with Chase investment as they are not attached to the main chase bank as it is a " self- directed account ''. I then went home and spoke with Chase investment on the phone and a representative then told me that my check would clear in XXXX days. I asked for further information and was transferred to a manager. The manager then told me that it would take XXXX  days for my funds to be available but that he would attempt to request an early hold release due to the circumstances. He said I could check my account to see if the hold was released but there was no other way for me to know. He said if it's not released in XXXX  days then call in. Today I called chase investment to get an update on the early hold release. The representative told me that he was unable to give me any information and I would need to speak with a manager. The manager a very crass and rude man by the name of XXXX with the escalations team at JP Morgan, informed me that my early release request would likely be denied and I would just have to wait the XXXX  days for my funds. I asked if there was a manager or someone I could speak with who was in charge of managing these holds and was told that he was the person to talk to but he knew nothing more than what he had already told me. He then continued to speak as though the conversation was over and then abruptly hung up on me while I was mid sentence.

Company response to consumer: Closed with explanation