Chase has decided that they do not want me as a customer anymore. I learned of this when my debit card was rejected at a store and my card was rejected at the ATM. When I talked to a teller at the bank all they could tell me was that the account was frozen but they had no idea why. I called the Customer Support number and after three hours on the phone the best they could do for me was open a ticket with "The Research Group".
The following day my wife physically went to our local Chase branch, where after an hour the branch manager informed her that Chase has terminated their relationship with us as customers. What that also meant was that Chase froze our three deposit accounts with them and would not release the funds, we were told we would receive a check of the full balance sometime in the future, I was also told they sent a letter on the day before. I didnt know a bank had the legal right to freeze all of your money and refuse to release it for no reason, because when I asked them why Chase is doing this the standard answer I received was "because we can".
After hours on the phone with Customer Support, the local branch office, the branch office in some other town that was responsible for the freezing, and the fraud department. I was then able to get the funds in my savings account released at my local branch but they still refused to release the money in my two checking accounts. Chase claimed that there might be a couple of pending transactions (like our paychecks that were being direct deposited that day). When I asked to speak to the district manager that was in charge of the two branch's where all of this originated from I was straight out told that I could not speak to him.
On the third day of all of this I again spoke to my local branch manager and he informed me that Chase would release the funds in my two checking accounts. So my wife went there and once again we were told they wouldnt release the funds and that the accounts were frozen and untouchable. Well luckily for us the branch manager was getting as tired of this as us so he worked with the fraud department and some how we were able to close the two accounts and withdraw all of the money, this was after three days of hours on the phone, and hours of sitting in the local branch. Not to mention that Chase also treated me very poorly throughout the whole ordeal.
I received the letter from Chase today (three days after this started) informing me that they were going to be closing one of my accounts (they froze three of the accounts I had there), and that I had fourteen days from the date of the letter to complete all transactions from within that account which included withdrawing all money before the account was terminated. According to the letter any money left in the account after the fourteenth day would be sent to me via mail. The letter did not state that all of my accounts with Chase would be frozen and that any money in there would not be accessible.
The best part is I also have a HELOC with Chase, and that account was not touched in any way and actually its still open now and fully accessible for me to use. I guess when your paying interest on money that is withdrawn they wont freeze that on you. I dont know if anyone else has ever been through anything like this, but to me it sounded a bit unethical and illegal.
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