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JP Morgan Chase Complaint - Accounts closed with no reason provided - Checking accounts
Checking accounts - Complaint
DALLAS, TEXAS -- I originally banked with WAMU, I opened a second checking account with Chase who later took over WAMU. My daughter banked there as well. I received a letter dated 1/5/2011 and received it 1/18/2011 stating that my checking accounts were being closed 1/16/2011 and the Bank reserves the right to close the Accounts earlier, at any time, for any reason without notice. My daughter has had CD's with Chase for many years and my employment checks have been automatically deposited to Chase as well. Chase refused to honor a withdrawal on the 15th of January and returned two checks for which I am now facing additional fees and the $ was in the account to cover these expenses. I called them today to see if I can withdraw my cash and they told me no that the funds would be mailed out 2/2/2011. I have never had an experience like this in my life. I would think that if I had done something wrong Chase would at least provide me the reason. If Chase sees my checking Accounts as a risk, why wouldn't this be explained to me? There are no NSF checks involved! I think this is a pretty lousy way to handle business. Now I am in a bind with additional expenses of which according to Chase, they are not obligated to explain.
Comments:
Posted by MJGoldfarb on 2011-01-26:
Check out a local credit union for your accounts.
Posted by madconsumer on 2011-01-26:
there has to be some reason.
bank of america is a great bank. i have been with them since 1986, and never any issues.
bank of america is a great bank. i have been with them since 1986, and never any issues.
Posted by saj80 on 2011-01-26:
Banks don't close accounts without valid reason (overdraft trends, credit issues, etc.). I have been with my small community bank for 10 years, and am 100% satisfied.
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