Consumer complaint received 2024-05-23 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: MT

Complaint narrative:
On XX/XX/year>, I received a text message from Chase bank ( a letter was also mailed on the same date ), stating to contact them due to fraudulent activity on my account or it was at risk of closure, however I did not see the text until the next day until my account was already closed and I was expecting a deposit for a loan from XXXX for {$200.00}. 

XX/XX/year>, I applied for the loan from XXXX and was approved, however when I checked my bank account, it had already been closed. I contacted Chase Bank and they stated they initiated a bank initiated closure ( BIC ) and for security reasons could not provide any additional information. They also stated I would receive a letter with more information, which I did not. My local branch in XXXX Montana tried calling the corporate office and they could not get information provided either. 

This resulted in my funds being sent back, being ineligible for a loan with a brand new non-established account elsewhere, my direct deposit from my work being returned and issued via paper check. 

Around XX/XX/year>, I was still receiving emails as if I were still a Chase customer and was having a difficult time obtaining an account at any bank due to being flagged with a " BIC '', which has quite an impact on my life. Since I hadn't received a letter, I called Chase bank again. They said to disregard the emails, they take a while to stop being generated and no additional information could be provided about my account closure. He said a letter with more information was issued on XX/XX/year> however that was the letter and text date for me to contact them with additional information so no information was provided. He simply said Chase has decided not to bank with me anymore after a few years and that's all he could say. 

In XXXX, I received my XXXX statement with only a few transactions up through the date of the account closure, which showed my loan funds of {$200.00} being returned ( which I already knew ), and I received a check for {$1.00}. 

On XX/XX/year>, I received another letter from Chase stating the claim I opened on XX/XX/year> ( which I didn't open ) for the funds I never received for the loan transaction date of XX/XX/year> in the amount of {$230.00} had been investigated and the credits had been applied. I never received these funds, didn't open a claim and didn't even apply for the loan until XX/XX/year> ( after the transaction date on the letter ). The claim number was XXXX. 

I contacted Chase Bank after receiving the letter about the claim stating I didn't open it and never received the funds. I was told it shows I opened the claim and that's all they could tell me because they couldn't " risk their job '' by providing me with additional information. 

I have no information about why my account was closed, who opened the claim stating to be me, why the dates don't match or where the funds went. I no longer have access to log into my portal and view my transactions and don't understand how it's even legal for a company to withhold such sensitive information from me, given the fact that it's my account, my money and I've been a Chase customer for years. They gave me XXXX day to get back to them before closing my account. I don't find these business practices to even be ethical or legal.

Company response to consumer: Closed with explanation