Checking or savings account -- Managing an account -- Complaint #6028577
Complaint Overview
Complaint ID: 6028577
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Oregon
ZIP Code: 97080
Date Received: 2022-09-28T12:00:00-05:00
Date Sent to Company: 2022-09-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On Friday, XX/XX/2022 I made an online deposit through the Chase mobile app. I am a XXXX XXXXXXXX in the XXXX XXXX XXXX and provide XXXX services. I had a check deposited for XXXX services completed for the amount of {$9500.00} from a company which I have deposited numerous times before. Chase did not acknowledge the deposit until Monday midday and stated a hold would be placed for the full amount of the funds until Wednesday, XX/XX/2022. I did not object and waited until Wednesday the XXXX to check if the hold had been removed. On Wednesday, XX/XX/2022 at XXXX Chase decided to send a letter via email stating the check would now be on hold until XX/XX/2022. I am a very small XXXX and I depended on the funds to pay my employees and run day-to-day operations. I called Chase which referred me to their Fraud Prevention Services, when speaking with the Fraud Department, I was asked numerous questions regarding the check but these questions were regarding the nature of the check, what my company does, and what services it provides. I advised them that I run a XXXX business, which more specifically provides XXXX services, that yes my checks are most times on the higher end, and that all checks come from 2 major clients I work with regularly. The representative then went through my deposit history and I asked her to verify that this check is from a client who I deposited 2 weeks ago leading back to 3 months ago. She stated why the check was a higher amount and I re-explained the nature of my business. This is a business account so I am unsure why the predatory questions. She went on to say the check would need to be verified through both the issuer and the issuer 's bank, I agreed but stated this is the exact same routing and account number from a company I have deposited from in the past. The representative stated if they can not reach both the issuer and the issuer 's bank that the hold would remain. I was placed on a very long hold and after XXXX minutes the representative came back on the line and stated the issuer 's bank could not be verified. I once again repeated to her that I have deposited check 's from this issuer in the past, 2 weeks to exact, and have not had an issue. I have an image of a deposit made 2 weeks ago bearing the exact same routing and account number. She refused to look into it any further and stated the hold would remain.
Frequently Asked Questions
What is Complaint #6028577 about?
Complaint #6028577 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-09-28T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". 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.