Consumer complaint received 2024-01-20 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: TN

Complaint narrative:
As a years ' long subscriber to XXXX, I decided to search a more reasonably-priced option for bookkeeping software. Around XX/XX/XXXX, I became a paying subscriber to XXXX. I was using the platform to track expenses and prepare reports for our accountant for year-end close. We are a small business that does the majority of bookkeeping in-house but uses an outside accountant for yearly tax preparation, etc. 

Around XX/XX/XXXX, a client of ours asked for the option to pay his invoice online. I contacted XXXX who pointed me to WePay, their electronic processing merchant. I was given no other option. I was told that " WePay is who XXXX uses for electronic processing. '' We consequently invoiced a customer for approximately {$3000.00}, who paid by credit card through the platform put forth to us by XXXX. The money was immediately transferred to our bank account without issue or delay. 

Around XX/XX/XXXX, I began receiving relentless phone calls from XXXX ' sales team asking me to consider a variety of their add-on products. I explained each time that I was working at my full time job and would revisit the add-on options once beginning Tax preparation XX/XX/XXXX. 

Around XX/XX/XXXX, a client requested to pay for the provision of tree services via electronic means. He needed to split the payments to our company between two credit cards. The total payment for the service was {$5100.00}. The payments both posted through XXXX as expected. I then began to receive emails from WePay, the third party responsible for processing the electronic payments to our bank, stating, " we are transferring the amount paid to your bank account with First Bank. '' A day later, I received an email from WePay stating that our bank transfer had been cancelled. I emailed both WePay and XXXX for an explanation. I also called XXXX, for assistance. The individual intaking my call stated, " I will reach out to WePay and find out what's going on. I will get back in touch with you immediately. '' The next day, the individual from XXXX I spoke to the night previous, sent me an email stating " all had been resolved and the money would again begin the transfer to my bank account with First Bank. Shortly, thereafter, I received an email from WePay stating, " we are transferring the amount paid to your bank account with First Bank. '' Believing there was no further action required on my end, I did not check emails again for a couple of days due to other outstanding responsibilities. 

Logging back in a couple of days later, I noticed emails from WePay stating, " We have closed your account due to proprietary reasons. You may appeal this decision for reconsideration of receipt of your funds in 120 days. '' I emailed XXXX, no help. I emailed WePay, no help. I've emailed leadership with JP Morgan at this point, no response. 

I'm left to believe that XXXX and WePay have stolen {$5100.00} from me. At the very least, they are deciding to hold my money, interest-free, without my permission and without explanation. Unless you believe that, " for proprietary reasons, '' is thorough explanation for this unbelievable action. 

Interestingly, due to XXXX pointing me to WePay for the processing of electronic payments, I instilled utmost trust in my XXXX account manager. After all of this, I have XXXX, mainly, " WePay, '' and have found numerous complaints from similar consumers with similar issues. These companies should be addressed immediately. 

Most importantly, I just want my {$5100.00} sent to my business account as due and as expected. 

I have reached out and communicated to both companies with unsatisfactory results. 

My next step will be to draft letters to the US Senate Banking Committee. 

No company shall steal the money of another for " proprietary reasons, '' or any other reasons, especially when said company has failed to reasonably disclose such reasons, whether true, or made up, to fit their agenda. 

I look forward to a response. 

XXXX XXXX, XXXX, on the behalf of : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Ph : ( XXXX ) XXXX XXXX : XXXX XXXX

Company response to consumer: Closed with explanation