Consumer complaint received 2024-08-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Unable to open an account
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
I currently have a Chase business account that I have had it for years. I recently went in on XX/XX/year> to add an additional business account with a change to XXXX XXXX XXXX XXXX XXXXXXXX added. I spent the time filling out info, answering question, signing paper work and when I left I had the account and all was well. Then later that day, I got a message that there was an issue with the account. I was told that all of a sudden, Chase needed a lease proving that I was an operating business. So why wasnt that an issue initially when I was there or with my other account. I was puzzled at this request and questioned why when I already have an account and I have history with Chase as a business. I asked to speak to the manager and was told someone would contact me but didnt. XXXX XXXX filed an escalated complaint and I finally got a call message from the complaints department and I called back several times and got no one. 

Ive been in my location for 19 years and have had to recall where any paperwork was. I was told it had to be a physical address which it is so I didnt think much of it at the time. I later found out that Chase restricts the use of a virtual office as a business address. I found an old lease but I had made some changes over the years but thought if Chase saw I had that particular kind of lease they were looking for, would convince them of my legitimacy. After locating more current agreements, my current lease is considered a virtual office which Chase will not accept. I also think that they think I work out of WeXXXX which is in my same location. They expressed it could not be a WeXXXX. I believe Chase is treating my business address as a virtual address thats may not be physical and not a virtual office which is physical and there is a difference. I operate from that address and that address is on all things related to XXXX XXXX XXXX XXXX. This sounds like discriminatory practices to me. Im just going to say itbeing a small, woman-owned, minority business being denied an additional business account for frivolous reasons definitely sounds discriminatory. Especially since I already have a business account with Chase. 

I asked why would that make a difference? I was told by XXXX XXXX that as a result from the pandemic and the PPP loans etc. that policies have cracked down on new business accounts. I said ok, but what does that signal to Chase? He told me he was not at liberty to saywhat does that mean? I could MAYBE understand if I was brand new business and to Chase but I have a long history with Chase and thought that should count for something. No one would see my point or believed that my address was a physical address. When I first had my first lease, it was XXXX XXXX XXXX. XXXX XXXX XXXX took over years later and are now called XXXXXXXX XXXX 

I requested this " policy '' in writing twice and no one has responded. I made an appointment with the branch manageXXXX XXXX XXXX on XX/XX/year> but that didnt transpire as she was out sick the day of our appointment and no one bothered to call and reschedule before or after I came into the branch. XXXX XXXX, a bank associate, tried to assist but she offered no viable solution. I asked why my history wtih Chase was not considered and was told that Chase did not look at history like that. And I told XXXX XXXX that Chase certainly does with loans. It just didnt sound right as I am positive Chase would look at my history to see if I bounced checks, was overdrawn a lot, or if I was just in good standing with Chase or any bank before allowing me to have an account so I wasnt buying that. 

I was offered to put my home address on the paperwork and that would not have been accurate and a lie on my paperwork as I do not operate from the home address and doing so would also cause conflicting business info and issues with the city and so on. To make matters worse, the money I migrated to the new accounts was frozen ( while they figured out if the account was going to remain open ) for a while and it took way too long and too many gyrations to get my money out because no one would release it. I kept being bounced back and forth like a ping pong ball and around and around. I also spoke to several reps out of the country with little success! I was also told by one of the reps in compliance that having a virtual office, Chase does not consider my business legitimate! What?!!! I am very legitimate and my office is physical. I just dont go in everyday. So frustrated with the lack of service and explanations provided. The question is, how is it that if a business uses virtual office space with all amenities of an office ( offices, receptionists, phones, meeting/conference rooms ) be less legitimate than one who has a different type of lease to be there every day. If the question is illegal activity, someone with a leased office that doesn't come in every day could still conduct illegal activity. This is why this alleged policy doesnt make logical sense to me and all the players just shrugged with an oh well. No one advocated for me. I've attached some items and note that no one ever responded to my emails as if they didn't want to put anything in writing.

Company response to consumer: Closed with explanation