Consumer complaint received 2025-04-10 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: GA

Complaint narrative:
To Whom It May Concern, My name is XXXX XXXX, and I am submitting this complaint against JPMorgan Chase Bank regarding their improper handling of a business-related deposit made in or around XX/XX/year>, which resulted in the unjust closure of my account and the withholding of funds rightfully owed to me for professional services rendered. 

Background : In early 2024, I operated as a XXXX XXXX during the filing season. I was paid by XXXX ( XXXX XXXX XXXX XXXX XXXX ), a third-party processor that collects and distributes tax preparation fees to service providers like myself. In XX/XX/year>, a lump-sum deposit of over {$7000.00} representing earned tax preparation fees from multiple clients was made into my personal checking account with Chase Bank XXXX 

At the time, I had not yet formally registered an XXXX, though I had obtained an XXXX from the IRS in preparation for formalizing my business. Chase accepted the deposit, but shortly afterward, without prior notice or the opportunity to explain the nature of the deposit, they closed my account and froze the entire amount. 

I have made multiple attempts over the past year to obtain an explanation or the release of the funds. As of today, Chase continues to hold the deposit with no resolution, and I have never been paid for the work I performed. The deposit was not fraudulent, not a tax refund, and not subject to any legal disputeit was legitimate income for services I provided.

Legal Concerns : Violation of the Electronic Fund Transfer Act ( EFTA ), 15 U.S.C. 1693 et seq.

Under EFTA, consumers are protected from unauthorized account actions, including wrongful freezes and closures. Chases decision to retain my business income without notice or recourse may constitute a violation of these protections. 

Violation of the Georgia XXXX Article XXXX ( Bank Deposits and Collections ) Chase had a duty under Georgia commercial law to process and release funds in good faith. XXXX my earned income for over a year with no due process violates the principles of fair banking. 

Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ), 12 U.S.C. 5531, 5536 Chases failure to return the funds, provide a clear explanation, or offer a recovery process is not only financially damaging but meets the standard of unfair and abusive business practices. 

Breach of XXXX / XXXX XXXX closing my account and retaining the deposit without lawful justification or court order, Chase XXXX be liable for conversionunlawfully exercising control over my rightful property. 

XXXX Requested : I respectfully request the following : XXXX release of the full amount of the deposit ( approximately $ XXXX ) to me ; Compensation for financial losses and interest due to Chases year-long withholding of my earned income. I am requesting a minimum of {$2000.00} in compensation ; A formal explanation in writing regarding the account closure, fund retention, and the steps Chase will take to avoid similar occurrences for small business owners and service professionals. 

As a XXXX taxpayer and professional, I expect to be treated fairly and with transparency. The unjustified withholding of my income has impacted my ability to operate my business, support my family, and plan financially. I am submitting this complaint to both the BBB and Consumer Financial Protection Bureau ( CFPB ), and I am prepared to pursue further legal action if necessary.

Company response to consumer: Closed with non-monetary relief