Consumer complaint received 2025-02-05 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: JPMORGAN CHASE & CO.
State: PA

Complaint narrative:
I have a merchant account for my business on Saturday we had a couple of high amount invoices for some upcoming builder site projects. My client paid the invoices and I thought that everything was business as usual and was expecting to see the funds clear on Monday. On Monday I saw that the funds have still not deposited. I thought it was weird and decided to give it another day. Tuesday morning I checked my account and saw that I still did not receive my payment so I called Chase to inquire about what was going on. Chase puts me in contact with their XXXX  merchant processing division that says that the transactions were flagged by their trust and security department. If they required anything from me that I would see an email or if not I would see the funds in 3-5 business days. I thought that was weird. So I proactively sent them an email detailing the invoices that were paid providing documentation explaining what the invoices were for and they replied with case number XXXX. 

Later in the day I see that my ability to create invoices and accept card payments was disabled. 

I called to inquire about what was going on and was informed that my merchant account was closed yesterday. Right after the call I received this email : XXXX ( Chase Integrated Payments ) XX/XX/year>, XXXX XXXX Hello XXXX XXXX Effective immediately, we will no longer be processing payments on your behalf. This decision has been made following a thorough review and is in accordance with our Terms of Service.

As a part of this process, any outstanding funds in your account will be held for 120 days to ensure that all pending transactions are properly settled. This holding period is a standard procedure designed to protect both you and our company. 

Thank you, Chase Payment Solutions Still need help? You can reply to this email to add additional comments. 

To which I replied XXXX XXXX XX/XX/year>, XXXX PST May I please get an answer as to what happened and why this happened? To my knowledge I have not done anything to violate any terms of service. I am very confused about this and this hold of my funds is going to cause irreparable damage to our business operations. 

Kind regards XXXX XXXX ( XXXX ) XXXX XXXX They in return replied XXXX ( Chase Integrated Payments ) XX/XX/year>, XXXX XXXX XXXX XXXX , Our review process is proprietary in nature, so unfortunately there is no information available for us to share. 

This decision has been made following a thorough review and is in accordance with our Terms of Service. You can review our Terms of Service here : XXXX XXXX XXXX We sincerely apologize for the inconvenience, and wish you the very best in finding a payment processor that better suits your needs. 

Thank you, Chase Payment Solutions So now with no explanation they are holding onto the payments of my invoices totaling {$16000.00} for 120 days with no explanation in addition to charging me {$570.00} in transaction fees. My business is on the verge of collapsing as a result of this.

Company response to consumer: Closed with explanation