Checking or savings account -- Managing an account -- Complaint #7723222
Complaint Overview
Complaint ID: 7723222
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Banking errors
State: California
ZIP Code: 92504
Date Received: 2023-10-18T12:00:00-05:00
Date Sent to Company: 2023-10-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Chase bank did not follow their own policies and procedures and allowed 3 individuals access to debit our business account fraudulently through their ACH system. Over a period of 8 months, these individuals removed funds from our account in minimal amounts and under false business names that we actively do business with such as " XXXX XXXX '' to remain under our radar. The ACH policy on Chase 's account and applicable to our business account, communicates their is a submission of documentation to validate transactions and approve removal of funds prior to the first transaction. Chase bank failed to take this step and approved over {$55000.00} to be stolen from our business account over an 8 month period and now refuses to fix their mistake and restore the funds to our account. We were never contacted by the fraud department for even one transaction nor was the bank able to provide the documents or evidence that prove they validated documents approving charges to our account. Detailed information such as dates, amounts, communications and bank policies as well as a letter to the bank 's Vice President requested action are attached for review. We met with the bank on numerous occasions to resolve this issue with no results.
Frequently Asked Questions
What is Complaint #7723222 about?
Complaint #7723222 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-10-18T12:00:00-05:00.
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.