My company has been business with Chase Bank for over six years. In the last several years my company has deposited over $10 million through Chase Bank. We had an out-of-state client write us a check for $12,000. Chase bank has deemed this a "suspicious looking check" even though we are a nationwide company and deposit checks from across the country every day. We had more than triple that amount of money in our bank account in addition to this check. And more checks for more than this waiting to be deposited. Chase decided to put a freeze on our bank account not allowing us to make withdrawals or deposits into our account "for our own protection from our own potentially fraudulent ways". We were told that for nine days we will not be able to access our account to pay vendors, pay our employees, make deposits, basically operate our business on a day-to-day level. Unfortunately for us, we had to sit on hold over three phone calls for over 5 1/2 hours today to even get a Chase representative on the phone to explain to us why our debit cards weren't working and why we couldn't make deposits into our account. After 5 1/2 hours of phone hold time we were told that our account was frozen. This means that all of our employees who are waiting on their paychecks to arrive tomorrow will be sorely disappointed. Chase banks froze our accounts for the entire balance is in our account and not just the $12,000 of the check that was written. read more
