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  • Report:  #1533650

Complaint Review: JP Morgan Chase Bank

JP Morgan Chase Bank Won't send a wire due to account restrictions they should have removed 10 months ago! Fort Worth TX

  • Reported By:
    Caron — Highlands Ranch United States
  • Submitted:
    Mon, August 05, 2024
  • Updated:
    Mon, August 05, 2024

My friend and business partner has a large amount of Bitcoin he has been converting to US dollars. Once it's been converted, he has been using a broker to help him put it in a bank account so it can be wired to either his own bank accounts or mine. During the process, and due to some identity theft he experienced a few years ago, he was notified by Chase bank that they restricted his bank accounts, while we were on vacation in Austin, Texas, in October 2023, and we spent an entire day in Austin at a branch location of Chase to get it all resolved and have the restrictions on his accounts removed. He was also assured by another person at a branch in Colorado, where he is located, there were no restrictions on his accounts. However, several weeks ago, he tried to wire money from his Chase bank account to my bank account. The wire was NEVER processed and there was no explanation provided and he has been working with Mark Allen, Vice President Investments, located in Ft Worth, Texas, who finally told him after two weeks that there were still restrictions on his accounts and he would get them removed and process the wire. Mark still hasn't fixed the account and there is NO wire, now 3 weeks since the wire request with Chase. There is NO reason a financial institution needs weeks to fix this matter and send a wire. This is INSANE. I am going to report them to the SEC and FTC too, as there should be penalties for these companies for each day they delay giving folks their money!!!! 

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