Glad it's moving forward.
I've since realized the local govt. issuer was mentioned prior to my query. doh!
Seems at Chase when it rains, it pours. I guess it makes some sense with the optical recognition that a font difference could, and perhaps should trigger scrutiny. Hopefully they will retain or otherwise work in the sample they got from you as being a ligit alternative.
I had this happen to me. At the time I was angry but in hindsight I can see how my deposit threw up red flags. In the end all my accounts were reinstated and not closed. Chase has become my best and primary financial institution. However, I am now diversified and will never have all my eggs in one basket.
@TimFlorida wrote:I had this happen to me. At the time I was angry but in hindsight I can see how my deposit threw up red flags. In the end all my accounts were reinstated and not closed. Chase has become my best and primary financial institution. However, I am now diversified and will never have all my eggs in one basket.
Chase occasionally puts an unusual hold on a deposited check, but in my experience those holds have always expired the day, or the day after, the funds were received. So I think the better play would have been for OP to just let it ride when first making the deposit.
Agreed that it's best not to have all one's eggs in one basket.
@Caught750 wrote:
@AndySoCal wrote:@Caught750 @northway BSA/AML is there to protect the bank. No bank or credit union is going to release all funds from a paper check until they receive the payment for it. Once the funds are released they can leave the bank and the bank is out the money if they cannot get it back form the customer.. The customer may disappear after the funds do. See link below. Any paper check over $5,000 will have a hold put on it see my earlier link.
https://www.fdic.gov/resources/bankers/bank-secrecy-act/
The CFPB would not get involved with this decision. The way CFPB and or the FDIC would get involved is if the bank did not follow their process and procedures. The difference between Wells Fargo and Chase is Wells got a Wire transfer that also has the funds with it. Chase executive office will not do anything to make an exception. (not in the policy or procedures) The banking system has regulations that must followed. These regulations includes protections for consumers and the banks or credit unions
@AndySoCal why so argumentative?
I clearly said that I understand BSA/AML. I also said that I understand a hold (though I wasn't a fan of it).
What I don't understand is that a bank like Chase can't verify a phone number AT ALL for a CITY GOVERNMENT CENTER.
Fraud is fraud, this isn't...not to mention that Chase already received the funds that they are refusing to release.
Its that Chases attitude is F&$K off when they're the ones that can't handle a basic concept of banking. If you require something then be able to to it.
Its that Chase has that attitude when it could impact someone's livelihood.
Here, let me try to shed some light. The people that have to review those fraud alerts probably don't have the power, or just don't have the time, nor care enough. I've seen all instances in multiple positions and industries. I'll give you an example. This example, btw, is something I've seen many times and isn't just in the banking industry or just the fraud department.
Fraud team is on a dialer and in between calls they get alerts to review. Your check pops up as an alert. They check their database of phone numbers and maybe dial out, if the phone number is even correct or up to date. If it's not correct, they don't have the ability to Google it or maybe they have metrics to hit so they don't waste their time. Phone number leads to a complicated IVR system, cause government. Employee has a set amount of time to resolve or gets calls to interrupt them. They can put it back in a queue for someone else to try and resolve. Type of possible fraud isn't serious enough to escalate. See that 2 other people already tried and notated "on hold too long" (cause they have metrics to hit) so they set it as unable to verify and move on. Since unable to verify is selected, computer than decides if someone needs to be assigned for further review or if it should automate actions, such as closing account. The case is now out of the frontline worker's hands and all they can do is say sorry because there is literally nothing they or management can do about an automated process that has started.
Having worked in chase's loss mitigation department the abilities of the frontline workers versus higher level are vastly different. As a frontline worker I had strict time limits to adhere to for calls and tasks. Once I was promoted, I was given extreme flexibility allowing me to work on one case all day if I wanted to. I could sit there and spend all day trying to Google a good number or wait on hold 15 mins to verify info. That was my job. But the reality was most issues were handled on the lower level. While they may be a huge issue for a customer, they weren't a big enough issue to chase to necessitate my involvement.
@NoMoreE46 wrote:TL;DR The issue was the check's FO N T...
Well considering that someone can walk into staples and buy business checks which allow you to manipulate what's shown from contact info to fonts to routing numbers, then yeah, a concern is raised if a check comes in comic sans instead of the previous helvetica. Most people aren't able to tell fonts apart so if it doesn't match what has been previously deposited it raises a flag. Hell you could write a personal check that can be refused because the signature doesn't match the other 100 checks you've written. Chase's imaging software is smart enough to see that. It's also dumb enough to cash a check with no signature which is what happened to me for 2k. 🤦
@Brian_Earl_Spilner wrote:Hell you could write a personal check that can be refused because the signature doesn't match the other 100 checks you've written. Chase's imaging software is smart enough to see that. It's also dumb enough to cash a check with no signature which is what happened to me for 2k. 🤦
No problem. My signature is never the same twice.
I have paid the rent and forgot to sign the check and it went through just fine anyway.
I've had trouble with checks I recieved that were made to "Mike" and I signed "Michael." (Thanks, Mom.) So I try to remember to look and sign it with whatever name it's made out to, lol.
EQ8 772, TU8 757, EX8 778 as of October 19
@SouthJamaica wrote:
@TimFlorida wrote:I had this happen to me. At the time I was angry but in hindsight I can see how my deposit threw up red flags. In the end all my accounts were reinstated and not closed. Chase has become my best and primary financial institution. However, I am now diversified and will never have all my eggs in one basket.
Chase occasionally puts an unusual hold on a deposited check, but in my experience those holds have always expired the day, or the day after, the funds were received. So I think the better play would have been for OP to just let it ride when first making the deposit.
Agreed that it's best not to have all one's eggs in one basket.
Except it wasn't just a hold on a check. They froze my entire Chase relationship, all my funds were frozen, credit cards frozen. A letter was sent saying all my accounts were being closed.
@mgood wrote:
@Brian_Earl_Spilner wrote:Hell you could write a personal check that can be refused because the signature doesn't match the other 100 checks you've written. Chase's imaging software is smart enough to see that. It's also dumb enough to cash a check with no signature which is what happened to me for 2k. 🤦
No problem. My signature is never the same twice.
I have paid the rent and forgot to sign the check and it went through just fine anyway.
I've had trouble with checks I recieved that were made to "Mike" and I signed "Michael." (Thanks, Mom.) So I try to remember to look and sign it with whatever name it's made out to, lol.
Yeah, it's pretty inconsistent. I once wrote a check and it was declined because the system verified it didn't match my signature, which it didn't. Then I had fraud where I lost a checkbook and someone cashed a 2k check with no signature and the amount wasn't written out. Then chase had the nerve to tell me that had I not caught in x days the funds would have been lost. That's when I moved most of my money to a credit union. I do still keep chase and use them when I need something important done and I need it done by a certain time. Their processes are that reliable for me.