JPMorgan Accused of $99B Withdrawal, Freezing Account

• JPMorgan Chase has been accused of initiating a massive transaction of over $99 billion and freezing the account of a Reddit user.
• This is not the first time the bank has been involved in such an incident, with similar cases occurring in 2016 and 2020.
• The customer has said that he will be switching to Wells Fargo because of this issue.

JPMorgan Chase Accused of Initiating Massive Transaction

A Reddit user has reported a truly massive withdrawal from his JPMorgan Chase account, totaling over $99 billion. According to the user, the withdrawal automatically caused his account to freeze, and all attempts to contact customer support for an explanation have failed.

Previous Occurrences

This isn’t the first time a JPMorgan Chase account has been overdrawn by $99 billion. In April 2016, a woman in Chicago abruptly realized her deceased mother’s bank account had been overdrawn by this amount. In February 2020, another woman in Texas found out that her joint account with her late husband had also experienced an overdraft of more than $99 billion.

Chase’s Response

Chase told ABC News it was “investigating” when they were informed about the case in Chicago back in 2016. When asked about what happened with the Texas woman’s account earlier this year, a representative from Chase said they routinely place large debts on accounts held by people who have passed away as a means to protect against unauthorized withdrawals.

Customer Frustration

The initial Reddit post expressing outrage at these events quickly shot to the front page due to its outrageous nature. The user complained that he had called Chase multiple times but still could not get any answers or assistance regarding his frozen checking account and mortgage payment due at the start of next month. He stated that he will be switching banks upon resolution of this issue due to his dissatisfaction with their service and handling of this situation.

ConclusionThe incident involving JPMorgan Chase withdrawing $99 billion from one individual’s checking account represents yet another example where customers are left feeling helpless after banking blunders occur without explanation or recourse . Banks must take extra care when dealing with customer accounts , especially those involving large sums of money , in order ensure customer satisfaction and trust .