Consumer complaint received 2025-01-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: TX

Complaint narrative:
Due to a recent move of household from TN to XXXX XXXX, TX, my husband and I opened a new checking and savings account with Chase Bank at XXXX XXXX XXXX, XXXX XXXX TX. We met with the Relationship Banker to discuss our financial services needs as new residents in XXXX XXXX. We reviewed funds held in the bank in TN and how to best transfer those funds to Chase Bank. Her advise to us was to transfer the funds we wanted to move into the checking account at the former bank and then write a check to ourselves for deposit into the new account at Chase. We had done this at other banks in the past and agreed to take that action. The initial 2 deposits were in the form of personal checks written from the account at the former bank in the amount of {$500.00} and then {$2000.00}. After those cleared, on XXXX XXXX, 2025 we wrote a check to ourselves at Chase Bank in the amount of {$42000.00}, the remainder of the funds left at the former bank ( excluding funds held in a CD account ) on the advice of the Relationship Banker at Chase Bank. Due to the size of the amount, we were told to expect a hold on the account until XX/XX/ 2025. Later in the day of XX/XX/2025, I received a letter stating I needed to contact Chase Bank immediately to provide information or the account might be closed. I called right away. I was told they needed more information from my former bank. Bank agent tried to call the prior bank XXXX way, but they were closed. I called the next day and the prior bank again could not provide the information requested by Chase Bank. All the while, I am continuing to ask what is needed to remove restriction from the account. At that time, the Chase Bank app showed all the funds were available in the account, but they continued to say the account was restricted. We went to the local branch and spoke to the Relationship Banker who called the Retail Customer Service department. They instructed me to call the prior bank early the next morning, Friday XX/XX/XXXX ( day 8 of frozen funds ) to get the phone number of a banker who knows us and then to call Chase Retail Customer Service so they could get the necessary information to resolve the restricted account. I did as instructed and all necessary information and data was provided in a XXXX way call between my prior bank and Chase by phone at that time ( XXXXXX/XX/XXXX est XX/XX/2025 ). I was told by phone by the Chase Retail Customer Service agent that restrictions would be removed and account access would be in place by end of that business day. It was not. I called Chase Bank Retail Customer Service again. I asked for an address to contact Chase Bank in writing. I was told there is no address. 
I was told there is nobody to write to because the agent I was speaking with is the only one who can resolve this issue. I was told there is nobody else to communicate with concerning this extended restriction by Chase Bank. Later, I called Chase Bank Retail Customer Service again and everything about the account and restriction was reviewed with the agent again. This time, I was told that a cashier 's check to close the account had been issued. Nobody said anything about account closure or a cashier 's check prior to this point. But then the agent said the cashier 's check would be stopped and the account would be cleared and reinstated by midnight, XX/XX/2025 est. Throughout the night, I continued to check the Chase app. Sometime after XX/XX/XXXX XXXX XXXX, 2025 ; the status of the account int he Chase app changed to cashier 's check pending and the balance in the account went from {$42000.00} to {$0.00}. I called Chase Bank Retail Customer Service again the morning of XX/XX/2025. Then I was told the cashier 's check would not be processed nor the account closed, but that now it would take an addition 2 to 3 days to process the stopped cashier 's check and return the {$42000.00} to our account. I have no faith that our money will be returned to us. We are frantic and completely horrified that our funds are being withheld from us this way. Chase Bank has not communicated with us in writing about the frozen account, the restriction placed on the account, their intentions for restoring our funds to us or anything else. This is the worst experience we have ever had with a financial institution. We are in a new town with no access to our money to use for our day to day needs and no indication as to when or how our money will be returned to us. Please help us get our money back. XXXX XXXX

Company response to consumer: Closed with explanation