Checking or savings account -- Managing an account -- Complaint #5917563
Complaint Overview
Complaint ID: 5917563
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: New York
ZIP Code: 10952
Date Received: 2022-08-25T12:00:00-05:00
Date Sent to Company: 2022-08-25T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2022, I made deposits totaling {$30000.00} to my Chase business checking account. Of these checks {$12000.00} were made out to my newly opened company called XXXX XXXX. The other {$18000.00} were second party checks and were given to me as payments which I deposited into my Chase business account. Chase then froze all the {$30000.00} that I deposited and didn't allow any of the amounts to clear into my account. This included the checks that were made out to my business name. They said that this was due to their need to verify the second party checks and as a result until the checks are verified they are not going to release any of the money. The checks ' money was taken out of the original payers accounts and not released to me as such that I can not even ask the original payers to reissue me a check as they said the money was removed from their account. I spoke with Chase multiple times for a few hours each time and asked them why they don't release the money to me. They said we have to verify the checks and each time I call they claim to be verifying the checks as we speak. Each time they said they verified some but not all of the checks and until they verify all of them they can not release any of the checks including " the ones made out to my company that aren't second party checks which were verified ''. The next time I call however they have to reverify everything from scratch as if they never verified anything and they never finish verifying all the checks and don't verify unless I call them so at this rate I will never get my money back. I tried explaining to them that they should at least release the checks made out to my company but to no avail. They closed my account and as such I also don't have access to my info and statements. This has caused me tremendous financial damage to both my company as this is a fairly new business and this harms my day today operations in my business. as well as to my personal finances.
Frequently Asked Questions
What is Complaint #5917563 about?
Complaint #5917563 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-08-25T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with non-monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.