Chase just killed me without any reasons in their letter

[AhmedRadhy]

I'm really confused, tired, angry, and don't know what to do.

On 04/05/2024, I received a letter from Chase stating, "After careful consideration, we have decided to close your accounts due to unexpected activity on this or another Chase account."

I have been a Chase customer since 2006. It's my primary bank. I have a personal and business checking account and 9 credit cards between business and personal. I use my credit cards a lot, especially the business ones. I receive a lot of money on my business account from my clients.

I don't understand what happened and the cause for Chase to close everything except my business account even that most of the activities happened on my business account. I'm confused because they closed my business credit cards 🤷🏻‍♂️.

So of course I called Chase and no reason was given by the supervisor on the phone. I also visited a branch and talked to the branch manager and again no reason was given. After that, I decided to go to a local bank to open a business account so I could continue working. Yes, they opened the business account and I was happy because I thought this was just a problem with Chase. But guess what? After 2 days I received a letter from the local bank saying they were closing my account. 

I start searching and reading and I found out about the 2 systems, chexsystem and early warning consumer services, which I never heard of in the past at all. So I guess there is something wrong with one or both of them. I'm not sure which one is used by Chase and the local bank.

So I registered with chexsystem and ordered my history from them. I got it today and there is nothing in it at all except some the saving accounts that I opened back 2022. The last thing in it was the local bank that I tried to opne the business account with. I don't have problems what's so ever. I called Chexssytem if there is another kind of report with more details in it but there is none. So I asked them to get a report for my business. So they will mail it to me.  But again Chase closed by peronal checking account and all my perdsonal and business credit cards. They kept my business account.

I also called Early Warning Consumer Services and asked for my personal and business history. They said it would take 15 business days 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️ How could a bank see our history faster than us?!

Can anyone guess what happened?

Is it because I get a lot of zelles from my customers and the zelles I got are large? But Chase hasn't closed my business account. The local bank closed the business account. I guess maybe they asked fory SSN.

Is it because I'm a heavy user of their credit cards for my business? I don't go under my limit or even cycle the cards but I really use them a lot and buy a lot. What should I do if this is for my business? 🤦🏻‍♂️

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

How do you fix all the miss? I have my oldest cards with Chase in 2008 and Chase is main bank. That's going to hurt my credit history :-(

If Chase thinks the zelles I'm getting for my business is fraud or for money laundering, how do I fix it? I could easily show them that I'm using them for my business, paying medical bills, and taxes. I'm not playing games but how I would do that if the departmwnt who issued that order can't be reached by anyone and their call is final. 

If Chase thinks I'm misusing and abusing their credit cards and account, how do you fix it? 

I'm really lost and confused 😞

[keekers]

I don't have any answers for you but I'm curious as well so I'm following.

[sccredit]

---

@AhmedRadhy wrote:

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

If I had to wager - this would be the reason here. 

[Horseshoez]

---

@sccredit wrote:

---

@AhmedRadhy wrote:

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

If I had to wager - this would be the reason here. 

---

You beat me to it; I'd wager the same thing.

[AhmedRadhy]

I feel my use was absolutely nothing comparing to others.

Let's assume this was the reason. How would be reported? Is there a way to fix this issue that's going to affect me everywhere? I'm more than happy to provide any documents to show my use for those gift cards which all for pure business spending, paying medical bills, taxes, and other things for the business.

[AhmedRadhy]

---

@Horseshoez wrote:

---

@sccredit wrote:

---

@AhmedRadhy wrote:

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

If I had to wager - this would be the reason here. 

---

You beat me to it; I'd wager the same thing.

---

Let's assume this was the reason. How would be reported? Is there a way to fix this issue that's going to affect me everywhere? I'm more than happy to provide any documents to show my use for those gift cards which all for pure business spending, paying medical bills, taxes, and other things for the business.

[Horseshoez]

---

@AhmedRadhy wrote:

---

@Horseshoez wrote:

---

@sccredit wrote:

---

@AhmedRadhy wrote:

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

If I had to wager - this would be the reason here. 

---

You beat me to it; I'd wager the same thing.

---

Let's assume this was the reason. How would be reported? Is there a way to fix this issue that's going to affect me everywhere? I'm more than happy to provide any documents to show my use for those gift cards which all for pure business spending, paying medical bills, taxes, and other things for the business.

---

I have heard of numerous folks getting whacked because of high gift card purchases, I've never heard how any of them recovered.  Given your experience at your second bank, I might be inclined to go to a local credit union and let them know what is going on and see if they can help.

[RBD22]

---

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

I also think this is the reason.  Banks usually don't like this kind of spending as it isn't "normal" and tends to throw up flags.  If you look back on this forum, you'll find plenty of people that had their accounts closed for manufactured spending, which is probably what this appeared to be to the bank.  Were you also using credit cards and earning rewards for these gift card purchases?  If you were, that's a double whammy.

[AhmedRadhy]

---

@RBD22 wrote:

---

Is it because I buy a lot of Visa and Mastercard gift cards? Yes, I buy a lot of them and I use them all the time to buy things online for my business, pay taxes, pay bills, and more. They could just ask me, warn me, freeze the account until they ask, or just close that card.

---

I also think this is the reason.  Banks usually don't like this kind of spending as it isn't "normal" and tends to throw up flags.  If you look back on this forum, you'll find plenty of people that had their accounts closed for manufactured spending, which is probably what this appeared to be to the bank.  Were you also using credit cards and earning rewards for these gift card purchases?  If you were, that's a double whammy.

---

I'm not into manufatured spending at all. Matter of fact all I don't use the points I get from the cards I'm using at all. There were like 300k points that I never touch forever in my account. In the letter they said that I should just redeem them or transfer them. As I said in one the replys, the way I was spending on the gift cards was really way less than what I have seen but in the hand I spend a lot on those cards in stores for my pure business.

[GreatLife]

I'm no conspiracy theorist but a company regularly using gift cards for standard business expenses seems unusual to perhaps catch govt attention with Chase business checking account left open for monitoring activities & transactions? 

Maybe something lurks in a business database like Dun&Bradstreet if that's still a thing?

Innovis or Lexus Nexis might indicate something for why the closures?