A LONGTIME JPMorgan Chase member was shocked when their bank severed ties through a single text.
The customer, who said they’d been banking with Chase for 25 years, shared their story on Reddit.
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The post said Chase closed their account with no notice or explanation.
“I never bank with only one company but beware if you are a Chase client,” they wrote.
They received a text telling them to call the bank’s fraud department to prevent their account closure.
After calling within 20 minutes of reading the text, they weren’t given a reason for the mysterious situation.
They were also told they couldn’t appeal the decision but could apply for new credit cards or a mortgage.
Then an email popped up in their inbox requesting additional information on a transaction.
Once again, the client called Chase’s fraud department.
A representative told them they weren’t required to give any information.
The U.S. Sun contacted JPMorgan Chase to ask for a comment.
REDDIT REACTS
Lots of users replied to the thread to share their concerns.
“I hope they don’t do the same thing to me, and lately I’ve been having constant problems with them,” one person wrote.
They said they even reported Chase to a credit bureau.
“How do you get your money when they close your account?” one user asked.
“They said they would mail a cashier’s check within 10 business days,” the ex-Chase client replied.
“You can Google for potential reasons why banks do this,” another user said.
“They won’t tell you nor are they obligated to.”
They also suggested the user should take their business to another bank.
The user said they already have accounts with Capital One, Bank of America, and a credit union.
CHASE SAYS
Chase Bank’s website states credit card accounts might get shuttered for various reasons, including fraudulent activity or inactivity.
If a large amount of money is withdrawn or there are unusual surges in account activity, the bank could flag it as a security alert.
Over-limit fees or sharp drops in credit scores can also contribute to a bank’s decision to close your account.
Chase says “Maintaining certain financial practices is important for your credit health” and suggests ways to prevent account closure:
- Set up automatic transfers or payments to ensure regular activity on account
- Make sure contact information is up to date
- Try not to miss any notifications about your account status
- If you’re not making any transactions, tell your issuer that your account is still active
BANK BUSTS
Another Chase client said their account was closed a day before they deposited money.
They were confused and frustrated since they had no idea how to get their $500 back.
They said they had deposited the money into their savings account on a Friday, but by Saturday their account closed due to inactivity.
“How will l receive my money back?”
Social media users responded to the Chase member saying they’d probably get a cashier’s check mailed in ten days.
A Bank of America client blasted the bank after they were misled to overextend themselves in spending.
Also, a Wells Fargo member said they had $90,000 stolen from their account but the bank is “acting like it’s nothing.”