JPMorgan Chase & Co. Money Transfers Complaint

JPMorgan Chase & Co. Money transfers department,

International money transfer Wrong amount charged or received New Jersey

Owner opened business account with Chase Bank -/-/-. On - -, - Owner deposited a check drawn against -, with Chase Bank in the amount of $7900.00 - Dollars, for deposit in Owner Account. Owner was told that the check, since in - dollars would have to follow Chase Bank collection process, whereby the physical check would be presented to the drawer bank for collection of funds and the actual amount Owner would receive will be determined at the Exchange Rate in effect when Chase Bank is paid for check. That date Chase Bank was paid by - - - was -/-/-. On -/-/- Owner was credited the Sum of $5800.00. Chase Bank using a - to USD exchange of - - dollar per US dollar. The then -/-/- date published Currency Exchange Rate for - to US dollars ( various Currency Exchange sources available- Plaintiff used - - ) was -.


Complaint was made with Chase Bank on -/-/- regarding the shortfall of - $300.00 not credited to Owner Account. Owner explained to Chase Case Representative - - -/-/- ( Chase Executive Offices ), ( Chase Recorded Phone Conversation ) that the Chase Bank Conversion Rate was not in line with Published Currency Rates for that day - resulting is Account Owner receiving less monies in account of $300.00 USD. Owner explained that he talked with a representative of Chase Credit Card Div on -/-/- - -, the next day after Chase Bank deposit to Owner Account. Chase Bank -, told Plaintiff the Currency Transaction Rate for purchases made in - and converted to USD - $ -UDS= $1.00 -. or exchange rate of -. This was in line with published Day Currency Exchange Rate of - of - - Finance The Federal Reserve Bank Services- - Check Collection Service , - Exchange Rates. Shows the Federal Reserve Exchange Rate for the date of the exchange transaction to be - In conveying this info to Chase Bank -, she could not come up with any answer as to why Chase did not use daily-published currency exchange rate. When asked by -, where Chase Bank has/keeps publishes currency exchange rates-she again had no answer. Then stating to me she would pass case on to higher authority in Chase organization. On -/-/- Chase Bank Claims Case representative - ( Chase Executive Offices ). ( Chase Bank recorded conversation ), contacted Account -. - immediately referred to Chase Bank " Deposit Account Agreement '' Issue Date - -. Owner told Chase representative that - ( 1 ) Account Owner did not have knowledge of this new agreement when the monies were deposited, and since ( 2 ) Owner opened account in -, - given Account Rules & Regulations Dated - -, -. Owner asked Chase 's - if he could show Owner, if where & when Owner received/ acknowledged or signed off on said NEW Deposit Account Agreement- Chase 's - could not. Chase Bank Account Rules & Regulations - -, - states " The actual credit for items payable in a foreign currency will be at the exchange rate in effect at the time of final collection in US dollars ''. The Published Currency Conversion Rate was - on the date in question not - as Chase Bank used for conversion. Account Agreement does not state that Chase Bank can/will use a lower exchange rate than published. Chase Bank - told owner that ( 1 ) Chase sets its own conversion rates and ( 2 ) Chase was refusing to credit owner account the shorted monies of $300.00. Owner views this as consumer fraud and deceptive banking practice.