A US bank is now abruptly freezing accounts and money after a customer reported an incident involving a check deposit.
A Chase customer is reporting the bank froze their account and advised their funds would be on hold for 2-3 years while they ‘verify’ a check.
Going by the name Nooj, they explained on Reddit that they had deposited a check from their uncle and saw their account was frozen the next.
Nooj called Chase and was told the entire account was locked due to check holds, and they were advised to call back in a week to resolve the matter.
But when the time came, Nooj was told the bank account was still frozen and that they would have to once again call back for an update.
Unfortunately, on the third phone call to Chase, they were told the account would be closed in just four days if the matter wasn’t resolved, reports The-Sun.
“During the attempt to verify the check, I was informed that there was no associated phone number for my uncle in the Chase system, rendering verification impossible,” Nooj said.
“I discovered that the funds would be held for two to three years and, if not verified, sent to the state.
Despite my pleas, the representative provided no steps for verification and claimed there was nothing they could do.”
They said they were never informed that the check had to be verified until after the account was frozen and that Chase waited until after the check cleared to notify them that it would be held.
Nooj said they gave Chase their uncle’s phone number, but the bank said it wasn’t verified in its system.
“I now face months without access to my funds, causing significant stress, inconvenience, and financial hardship.
The lack of transparency in this process is deeply concerning,” they said.
“I have made upward of 20 calls, visited the branch, and filed a complaint with the CFPB in an attempt to find a path to verify the check.
“Every response I receive is that there is nothing they can do, and until they have a verified number for my uncle, they will continue to hold the funds. (Though they can’t tell me how to get his number verified).”
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Other Banking News Today
A bank ATM now begins to give away people’s money after an error gave a user $37,000 for what was supposed to be a $140 withdrawal.
A TD Bank error has resulted in a homeless man receiving over $37,000 in cash at an ATM machine – but he did not have it for long, reports The-Sun.
The man had been sleeping alongside the ATM at a TD Bank in Maine when he was moved along by police officers, sources report.
“How can you withdraw that much money from an ATM? I can only withdraw $200 at a time,” one member of the public told CBS News affiliate WGME-TV.
“This is a first,” police lieutenant Todd Bernard admitted to the news outlet.
He explained that the homeless man who has not been identified used a bank card to withdraw $140 from his account.
However, he then kept using the card and more and more cash came out of the malfunctioning ATM.
“He was using his bank card to request more money,” Bernard said.
Officers returned the money to the bank but TD chose not to press charges against the man.
“I think that’s really nice of them and I think it’s the right thing to do,” resident Sarah Howard told the news outlet.
“Obviously, he was kind of tricking the system a little bit but it was partially their fault for not having the right security on it.”
“If the bank was giving it he wasn’t stealing it, he was just playing the slot machine so to speak,” fellow resident Marcia Giancola said.
The machine was out of service for the rest of the day.
“Due to a code error, this TD Bank ATM dispensed an incorrect amount of cash to a customer,” a spokesperson for the bank said.
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