Checking or savings account -- Managing an account -- Complaint #7492378
Complaint Overview
Complaint ID: 7492378
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 900XX
Date Received: 2023-09-02T12:00:00-05:00
Date Sent to Company: 2023-09-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
After strongly encouraging customers to use online banking services rather than banking at physical branches, JPMorgan Chase has more recently begun trying to entice customers to go paperless ( i.e., to receive all of their communications, such as monthly statements, online only ). I have always tried to decline that option, but Chase makes it very difficult to do so. Recently, Chase has taken its attempts to force paperless on its customers to a new level. Specifically, when I signed on to my account several days ago, I was greeted by a screen that required me to accept Chases Online Electronic Disclosure and Consent and its Digital Services Agreement BEFORE I could access my bank accounts- checking and savings - or my credit accounts. Moreover, one of those documents was 10 pages long ; the other was 125 PAGES! Which I was apparently expected to review in a 5-inch phone screen. Its unfair, deceptive and abusive to advertise the ease and safety of electronic accounts while enticing people to sign away important rights they would have in a non-electronic environment, especially since Chase has knowingly fashioned the signup process such that not one in a hundred reasonable consumers will read - or understand - whats happening. And, if a customer chooses not to agree to this surprising, one-sided and completely non-negotiable agreement, what then? Does the customer have any recourse other than to periodically appear at a brick and mortar branch - which Chase has been actively discouraging its customers to do for years - and request a transcript of their accounts? Indeed, a customer who previously consented to paperless delivery can not even access their account to rescind that consent in order to receive the agreement by mail, at least not without first agreeing to the terms of Chases 125 page agreement. How is this fair? Or ethical? Or even legal? This is especially frustrating because, after being hacked many years ago, the banks fraud prevention officer advised me to check my account - every day- to help identify and prevent fraudulent activities. And, for the most part, I have done so. Until now. These types of sharp business practices, which inure entirely to the benefit of the bank, should not be tolerated.
Frequently Asked Questions
What is Complaint #7492378 about?
Complaint #7492378 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-09-02T12:00:00-05:00.
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.