JPMorgan Chase New Accusations: Bank Freezes, Eliminates Bank Account

It looks like JPMorgan Chase is surrounded by new accusations of terminating a bank account. Check out the latest terrible reports below.

JPMorgan Chase is facing fresh allegations of abruptly closing a customer’s bank account due to unfounded concerns of suspicious activity.

A user on the r/Chase Reddit forum claims that their new Chase bank account was shut down without any explanation or prior warning.

The user states that after setting up the account, their mother sent cash to the new account via Zelle, and they also sent and received several additional Zelle transactions with friends and family for basic items such as Uber rides and food.

The Reddit user alleges that just three days after opening the account, they were completely locked out of it.

“When I try to login it says my account is locked due to suspicious activity. I cannot call at this time because it is already past business hours so I wait until Friday morning. I call and they are not able to confirm my identity over the phone because the number I gave wouldn’t show up in their database (this is the number I used to open the account).

At this point, the user says they were not informed that the account was facing imminent termination.

I’m told that I would need to go in person with two forms of ID. I schedule a meeting for whenever I wasn’t busy which was Thursday the 21st. The day comes, but I am unable to make it so I rescheduled for the 26th (today) which was the only day available. Today comes and I find out that my account was closed.

I only had 10 business days to resolve this, which I did not know because in the mail I received it didn’t specify how long I had. I’d also like to add that on the 15th when I was locked out of my account it said my balance reached below $20 and my available balance was $0. I had $50 when I was locked out.”

The teenager is feeling frustrated and stressed due to their account being shut down for suspected fraud after using Zelle.

They were not aware that using Zelle would lead to such an action, and now they are unsure if they will receive their money.

In the US, banks have the right to close accounts for various reasons such as concerns about fraudulent activities, too many overdrafts or account dormancy.

The banks typically send notices to the account holders and mail checks for the balance to the addresses on file.