JPMorgan Chase Bank Account Or Service Complaint

JPMorgan Chase Bank account or service department,

Other bank product/service Making/receiving payments, sending money California

Chase promotes a service called Chase Quick Pay. Chase Bank then immediately withdraws the money from the parties bank account. Then they put a 3 business day hold on the funds stating that they do this to verify the transaction has n't been rejected by the other bank. If the transaction had been rejected it would n't go through in the - place. This is a shameful play by the bank not to watch their assets but utilize funds being transferred from person to person to their own benefit. There was no reasonable explanation that the bank could give when I informed them that the funds had been withdrawn from the senders checking account on the day that I requested the funds. A 5 business day hold puts an unnecessary burden on the consumer who is the receiver and owner of these funds. It is also counter to the claim of it being a Quick Payment well known services like -, -, Stripe and banks that offer similar services like - and - - do not hold funds for 5 business days when sent from other parties.They are either immediate or happen with 1 business day. - is - thing but this is excessive and overly burdensome to the consumer especially given how fast electronic transactions occur.