Consumer complaint received 2025-03-27 00:00:00
Product: Checking or savings account — Savings account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
On XX/XX/XXXX Chase Bank sent me an email that my savings account ending in XXXX was overdrawn. The next morning I telephoned Chase and spoke with both customer service and the fraud unit. I told them I had no idea why my savings account would be overdrawn since it's not used for any payments. The bank representatives told me about various ( electronic ) payments made out of the account during the latter part of XXXX, none of which I or my husband authorized or knew about. I told Chase that I had never received any statements or notices from them, either by mail or electronically. ( Most of my bank/checking accounts are held jointly with my husband XXXX XXXX XXXX this particular account was held in my name only. ) The savings account was closed and Chase said they would conduct an investigation. Chase chose to creat three separated claims. My husband and I supplied all requested information regarding the claims. 
Chase restored ~ {$65000.00} of what should have been an account of ~ {$83000.00}, completing its review the week of XX/XX/XXXX. When I called Chase to find out why they hadn't returned the entire amount I was told that the {$180000.00} they refused to refund to me was because certain of the electronic transfers were made over 60 days prior to my contacting them ( ie., prior to XX/XX/XXXX ). I and my husband repeatedly told Chase representatives at branch offices, customer service and fraud units that the 60 day rule Chase was based on 60 days after the bank sends its statement to the customer, which I never received. 
Both my husband and I told Chase representatives on a number of occasions that we had checked our email records and had no record of any emails from Chase sending me a statement or a notification that a statement was available for review. ( One bank representative told us over the phone there was no obligation for the bank to send a statement or a notice of a statement, even when there had been activity in the account. Instead, she said, it was our obligation to either check online or physically go to the bank periodically to review bank statements. ) I/we told bank representatives that if they had records to demonstrate that the statements or notifications had been sent we would stand corrected. To date we have not received any proof that statements or notifications had been sent during the XXXX calendar year. 
After I was orally informed that Chase would not fully reimburse me for my loss, I wrote to them via their secured site on their website. The responses I received were unsatisfactory ( see attached ). 
I do not know how a person or persons was able to get access to my savings account and use it to pay bills to credit card companies and other institutions. There have not been any unauthorized deductions from any of our other accounts, either at Chase or any other financial institution. 
Any assertion by Chase that the 60 day rule they cited precludes them from fully reimbursing me for electronic transfer occurring prior to XX/XX/XXXX is in error. Their argument is inconsistent with the Chase Deposit Account Agreement ( see eg., sec. IIID5, p.13 ) the federal Electronic Fund Transfer Act ( 15 USD sec . 1693 et seq. ) and the EFTA 's regulations ( see eg., 12 CFR sec. 1005.9 ( b ) ( 5 ), all of which indicated that the 60 day rule starts when the statement is sent. 
In one of its last written responses to me Chase seems to acknowledge its obligation to send a statement but fails to provide any substantiation that it did so, despite repeated requests that the bank send me such proof ( as I had asserted that I had not received any statements or notification of their availability ). 
As a result, I believe that Chase bears the responsibility to make me whole, as I was not given notice of any activity on my account.

Company response to consumer: Closed with explanation