Consumer complaint received 2024-03-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: JPMORGAN CHASE & CO.
State: OK

Complaint narrative:
Chase bank should not be allowed to close accounts arbitrarily or without notice. It may be part of the contract and they may be allowed to do so, but the ramifications to customers are extensive and extremely harmful. Furthermore, my income is federally protected ( SSI and pension ), so it should be illegal for them to interfere with my ability to access my only income. 

In XXXX of XXXX, I had a fraudulent charge against my account from an XXXX user. I reported it and the amount was given back to me by Chase. But I never received and explanation or understanding of what really happened. Did they go after the perpetrator, what anyone held accountable, where did this originate from and how was it resolved? 

In XXXX, I called to dispute a charge with XXXX XXXX. I only wanted to dispute part of it ( for insufficient customer service ) but was told that I had to dispute the entire balance and that was confirmed by a supervisor. I knew that wouldn't result in a positive outcome but had no choice to let them do it that way. It was for a significant amount, and I didn't want to have to repay that after it was denied, but that is what happened ( just as I predicted ). 

I travel extensively so there are plenty of hotel and rental charges on my account. I thought that might be the reason I was getting warnings on XX/XX/XXXX. But no, I found out that my accounts were being closed that day with no notice or explanation. 

Evidently, they were getting ready to reverse that big charge and there were not enough funds to cover it. Told you there might not be. 

XXXXXXXX XXXX  entire dispute process is flawed and ineffective. Why issue temporary credits only to reverse them without really doing anything or getting feedback from the customer? There is no place to adequately give detailed info when placing a dispute and zero follow up to get it. Reps always say they want to help, but they do not. 

So, when I went to the branch, the XXXX was told that is why my accounts are closed, permanently without option for appeal. Because Chase made me dispute the full balance on that claim and is now reversing it without issuing a credit for the amount that I really disputed. They refused to refund me the remaining balance in my account.

If my income is federally protected, how can they tamper with my ability to get paid by the Treasury Department and my annuity holder? They are all federally insured as is Chase, so how does Chase get to be the top dog and interfere in that matter? It sounds like that would be illegal. 

All they had to do was reverse whatever they were going to reverse, and it would have been absorbed by my upcoming deposits. At least TALK to me and work something out. It is beyond harmful to close all of my accounts without notice and create so much financial chaos in the lives of a protected population -- seniors. 

Is there any action that can be taken against Chase? It seems like they should be sanctioned for this kind of financial abuse of the elderly. They get enough in overdraft fees to make up for this type of situation. 

I was just trying to get justice from a vendor and now my bank violated me even worse.

Company response to consumer: Closed with explanation