I use Chase Bank for my business banking and have often made business deposits via their ATM machines. On March 6th, Chase reversed part of a deposit to the tune of $350.00 as appears in the entry below:
03/06 Misc. Debit 01-19 Debit fo non-negotiable item deposited $350.00
When I called their help-desk to inquire why, they told me they didn't have any details and to check with my branch. Upon doing so I found out the following:
* The branch staff had no idea why the money was removed from my account.
* They called their internal support contacts to inquire and they did not have exact details either.
* I was told that with-in 6 to 10 business days from March 6th, the day they stole the money from me, that I would receive something in the mail with whatever the problem item was and an explanation.
* They "think" that it may have been a check that was Deposited on the 19th of January at their ATM machine.
* It's getting close to three months now since the original January deposit and I have not received any concrete information as to why they removed $350.00 from my account, only speculation.
* I have not received anything in the mail regarding the original deposit or whatever they are claiming was problematic.
* I've been getting the run-around for over a month and still with no return of my money and no answers.
They have clearly violated their own statements of sending me detail in the mail within 6-10 business days from the date the funds were removed. If this is regarding an ATM deposit of a check back in January, as we are guessing, they have gone way past the ACH / NACHA / FRB Clearinghouse standard times for check presentation. I.E. Normally the Feds clear a check within 3 days, tops, and if it doesn't clear it can be re-presented to them another two times to attempt to clear the check within the month.
The staff there are unwilling/unable to give me clear direct answers. They are unwilling to compensate me for the money they stole. They have taken no responsibility for their business processes or equipment. I have spent hrs on the phone and in the branch trying to get details of why this had taken place, where my money was, who can I speak with to resolve this issue.
The Branch staff did think that it was mishandled at their processing department and the item should have been dealt with there for re-imaging if needed. They have no idea why it was removed from my account and supposedly returned to me in the mail.
They did not leave me any options for recourse, just a dead end. I have no check that I can go back and re-deposit or request that it be re-written by the writer. I have no indication from Chase that they will send me any more details.
If this is just bad Business Practice and not referring to any ATM deposit, this is out-right theft. If this is some problem with an ATM eating up a check I deposited then they have clearly gone beyond the time-limits and probably going against some FTC regulation. If this is regarding their technical processing and data loss, to me this spells at the very least Breach of Trust at the corporate and Branch level, if not several other potential actionable causes.
I tried searching for some class action suite against Chase for similar thefts and business practices or ATM issues but did not find anything yet.
Signed,
Still Looking for Recourse
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