Checking or savings account -- Managing an account -- Complaint #7961095
Complaint Overview
Complaint ID: 7961095
Company: Jpmorgan Chase & Co.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Arizona
ZIP Code: 85254
Date Received: 2023-12-06T12:00:00-05:00
Date Sent to Company: 2023-12-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Chase closed my business account that I had opened for over 10 years for supposed compliance reasons. They asked me to come by so they could copy my DL. I stopped by at the end of XXXX at a local Chase branch and provided my DL which they scanned and told me I was all set. A few days later my account was restricted and sent to closure at which point my Chase business account rep could not do anything but have me open up a new account. I opened up a new business account and waited patiently for my $ XXXX funds to be distributed from my old account to deposit into my new account. After many emails, phone calls with my local Chase account rep, the local manager and Chase cooperate customer service, I still have not gotten anywhere. It's been over a month, and I found out today Chase fraud and compliance department lied to me two weeks ago when they told me my check was mailed on XX/XX/31. After my local branch spending hours trying to get to the bottom, they found out a check was in fact never mailed. Now they need more " documentation '' proving that I live at my address that I've lived at for over 10 years since my account has been opened. I provided my DL that has the same mailing address back in XXXX and they still need more information. I don't understand how any business can operate having their account be restricted, closed and no access to their funds for almost 3 months now. This is absolutely outrageous that Chase would withhold money for such an unreasonable and extended amount of time and continue to bounce both the client and its employees from one department to another giving them all a run around as to why the funds have yet to be released.
Frequently Asked Questions
What is Complaint #7961095 about?
Complaint #7961095 was filed against Jpmorgan Chase & Co. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-12-06T12:00:00-05:00.
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.