Mesa couple turns to On Your Side after Chase Bank suddenly closes their accounts
PHOENIX (3TV/CBS 5) - Imagine logging onto your bank account online only to discover your account is frozen, and you can’t get to your own money!
It happened to two different Valley families, and they reached out to On Your Side for help. Barb White and her husband Steve were shocked when they tried to log into their Chase bank accounts and discovered the bank had frozen all three of their accounts. “It’s like a punch in the gut,” Barb said. “It’s excruciating, because you just want answers. Can you just give me an answer? Can you tell me anything at all? They absolutely will not.” Steve said the situation felt helpless to him and that it left him and his wife confused as to why.
As a result, the Mesa retirees say they’re unable to access around $50,000 of their own money. It’s been going on now for two months. In fact, they’ve had to borrow money from family and take cash out of their retirement funds just to pay bills until they can get back into their accounts. They’re not alone either. Maria Garcia owns a construction and renovation business in Buckeye. Her account was also frozen by Chase Bank after she deposited a $20,000 check without endorsing it.
She says it’s never been a problem before. “I would say 95% of the time I don’t endorse the checks,” Garcia said. Turns out, Maria’s account wasn’t frozen but completely closed by Chase Bank along with a second account she owns. In all, she said she’s also unable to access $50,000 of her money. Garcia said, “I had to use my savings to pay my workers.”
On Your Side got ahold of Chase, and the bank restored Garcia’s accounts and gave her access. Unfortunately for the Whites, they’re not so lucky. Chase told On Your Side they’re still investigating the couple’s account and until they’re done, the couple will not be allowed to access their funds. “It is painful,” Barb said. “It is so painful to know that someone can can seize your money like that, especially a bank that you are supposed to have trust in.”
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