Consumer complaint received 2024-11-05 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: CA

Complaint narrative:
Good Morning, On XX/XX/XXXX J.P. Morgan Chase Bank, N.A. communicated they could no longer maintain the banking relationship and closed my bank account. 

The remaining balance in my account was around {$37000.00}. 

Between the dates of XX/XX/year> - XX/XX/year> I've spoken to multiple Chase team members on the phone attempting to get a status on the return of remaining funds in my account. After providing them all the information they required and/or requested, verifying the legitimacy of the remaining funds per their guidelines, I have still not received a check for the remaining funds or information about the status of payment. 

Two of my most recent phone calls with Chase associates on XX/XX/year> at approximately XXXX and on XX/XX/year> at approximately XXXX ended with the Chase associate communicating that they verified the funds in my closed account through their proprietary internal verification procedures and had submitted a form for approval with the back office team to have a cashiers check issued and sent to my home address. 
I was made aware that the first attempt to submit the form for check approval by the back office was never fully submitted. This was puzzling and frustrating as the conversation on the recorded line would reinforce that the Chase phone rep communicated they had submit the form for a check to be sent for the remaining funds. 
The second Chase associate I spoke to was the one who told me about the form not being submitted properly and that it was never reviewed. After expressing my frustration with this entire unnecessary problem they have been subjecting me to, I continue to repeat the process once again and verify the remaining funds in my closed accounts. After filling out and submitting the form correctly, the Chase phone rep continued to reassure me that everything was in order and submitted properly. That it could take 1-5 business days to review the check request and get the official document overnighted.

My last phone call with Chase Customer Service Team was unsettling and disheartening. Calling once more to get a status of the form previously submitted for check approval the phone rep communicated that the form was reviewed but not approved. Stating the funds would remain frozen for an undisclosed amount of time, that could range from 30 days to 2 years for funds to be released. 

After all the time I've spent jumping through their hoops and providing the answers to their requests, meeting all of the criteria they set in order to return the remaining funds in my account to me, I feel as if Chase and its employees seem to be actively working against me and willfully creating more obstacles, and at times witholding vital information that would aid in getting my funds returned to me. I believe the actions taken by Chase employees fall under the Unfair, Deceptive, and Abusive Acts or Practices ( UDAAP ) proposal for bank regulation in the United States under Federal Reserve Regulation AA.

I would like to formally request J.P. Morgan Chase Bank, N.A. to return the verified remaining funds from my closed account they have refused to release and promptly send the cashiers check to my mailing address on file. 

Thank you.

Company response to consumer: Closed with explanation