A CHASE Bank customer has been distraught over a stressful account closure.
Bank clients nationwide have shared cases of mysterious account closures on social media.
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Seth Julius said he was feeling disappointed on Facebook after Chase Bank shut his account without notice.
The closure came two days after he opened the account in December.
Seth said it originally had $700. Over a month passed and Seth said he still hadn’t gotten the money back.
RENT RAGE
“I could cry,” he wrote in his post, explaining how his best friend got him a ticket to go out to a club.
Due to the account closure, Seth said he couldn’t afford to buy a drink or Uber home.
Plus, he expressed significant stress over handling his rent expenses.
“I’m worried I won’t even get paid again next Thursday before rent’s due at this point,” he said.
The U.S. Sun contacted JPMorgan Chase to request a comment.
“Why did they close your account?” a Facebook user replied.
“Did they ever send a check of funds?”
Seth said they didn’t get a check or a reason for the closure.
CHASING CASH
Seth isn’t the only person who hasn’t been able to access their money from Chase Bank.
Marquette Young said he was barred from his account with $1,600 after Chase couldn’t verify two checks he cashed.
Reasons why a credit card account gets closed
According to Chase, there are several reasons why a customer's bank account gets shuttered without notice.
- Inactivity – if the account hasn’t been used for a certain period
- Fraudulent activity – suspicious withdrawals or suspected theft
- Over-limit fees – if a customer makes a transaction larger than the amount of money available in their account
- Credit score – if a client had a significant drop in their credit score
- Delinquency – if payments have been consistently missed
Chase suggests calling the issuer to inquire about reopening if an account is closed. The client may be asked to provide information such as name, address, and Social Security number.
Source: Chase Bank
The small business owner said he had to sleep on an air mattress since he couldn’t retrieve his funds.
He even tried returning to the bank on his daughter’s birthday to get the money back but to no avail.
The father seems to have lost faith in the bank, and it’s unclear if he gained access to his money.
According to Chase’s website, account closures could impact a client’s credit score.
The bank suggests improving credit practices by:
- Making monthly payments on time
- Paying over the minimum amount due when possible
- Keeping credit debt in check
- Limiting the number of times a new line of credit is opened
The U.S. Sun has more stories on banking blunders and sudden account closures.
A TD Ameritrade client said the bank closed off their account with $40,000.
Meanwhile, another Chase client said the bank told them they “couldn’t maintain her account.”