JPMorgan Now Freezes Customer Account After Whopping Withdrawal
A new report is going viral after JPMorgan (NYSE:JPM) froze a customer account after withdrawing $99bn without explanation.
The report is quite bizarre, however; most wouldn’t be surprised given the banks long history of scandals.
According to the user, the withdrawal automatically caused his account to freeze, and all attempts to contact customer support for an explanation have failed.
“My checking account has been like this since last Monday and I’ve called Chase and been transferred to five different departments and nobody knows WTF is going on.
And I’ve got a mortgage due at the first of the month. Once this clears up, because of Chase’s incompetence I’m considering switching to Wells Fargo,” said the user.
But this isn’t the first time a JPMorgan customer account has been overdrawn by $99bn says DailyHodl.
“In April of 2016, a woman in Chicago abruptly realized $99 billion had been withdrawn from her deceased mother’s bank account.
At the time, Chase told ABC News it was “investigating the issue”.
And in February of 2020, a woman in Texas was shocked to see that the account that she shared with her late husband was also overdrawn by more than $99 billion.
In response to that report, a Chase representative said it routinely places massive debt on accounts held by people who have passed away to protect against unauthorized withdrawals.”
Early this month, it was reported that JPMorgan began to abruptly close business accounts as well as personal accounts in its latest scandal.
More on that below.
Also Read: JPMorgan Now Owes Government Whopping $3,000,000,000
JPMorgan Abruptly Closes Business Accounts in New Scandal
JPMorgan Chase is abruptly closing business accounts as well as executives’ personal banking accounts in its latest scandal.
This is not the banks first scandal closing or freezing accounts without warning or explanation, but more on that later.
JPMorgan Chase canceled vaccine skeptic Dr. Joseph Mercola’s business account and the personal accounts of Mercola Market’s CEO, his wife and the company’s CFO, according to documents obtained by the Daily Caller News Foundation.
“Mercola Market is a Florida-based health business, and Chase abruptly closed its accounts for unspecified reasons, according to the documents. Chase sent the letters on July 13, notifying the company it had until September 10 to shut down account operations and informing CEO Steven A. Rye and his wife, as well as CFO Amy Legaspi, that they have until August 11 to close their personal accounts and open new ones at another bank,” says Daily Caller.
“After careful consideration, we decided to close your accounts because of unexpected activity on this or another Chase account,” the letters stated.
“I was told for legal reasons they cannot tell me why they are closing the accounts,” a Chase representative told Rye in a voicemail.
The representative told Rye to send him the letters he received to begin the process of restoring the accounts but repeatedly stressed there was no guarantee that the effort would be fruitful. “We are going to try because you’re a good client of our institution,” he said.
“I believe they cancelled all of the accounts because of Dr. Mercola’s (our employer) opinions,” Rye told the DCNF. “He … co-authored the best selling book The Truth About COVID-19 which exposed the likelihood that this virus was engineered in a laboratory funded by the NIH. He correctly predicted the vaccines would not prevent transmission or infection of COVID-19. He has been directly censored by the Biden administration and is being targeted by politically weaponized agencies.”
“For privacy reasons, we can’t discuss customer relationships, but we don’t close accounts because of political affiliations, and we didn’t do so in this case,” Chase told the DCNF on Wednesday.
Also Read: Banks Are Now Closing Thousands of Accounts Daily
Tag someone on Twitter! ⬇️
Market News Published Daily 📰
Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!
THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.
Franknez.com is the media site that keeps retail investors informed.
You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
Comments are closed.
Leave your thoughts below.