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Tell HN: Chase shadow banned and closed my bank accounts

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Re: Tell HN: Chase shadow banned and closed my bank accounts

#91

Post by werewrsdf »

austin-cheney wrote: post #44

I see this account was created only to post this complaint about an account closure. Stripe employees have commented on HN about this behavior as it occurs frequently. That behavior being an account with no history whining about how some big evil bank attacked them, a poor powerless innocent victim, for absolutely no reason. Almost always the account is closed due to fraud only after several rounds of correspondence…

Yes,I created a new account so I couldn't be tied to my main account. I was worried about Chase or other banks retaliation. I was hoping that someone on here had a similar situation and figured out a way to resolve it besides just leaving Chase.

Re: Tell HN: Chase shadow banned and closed my bank accounts

#92

Post by werewrsdf »

scrollaway wrote: post #28
Etheryte wrote: post #18

Earlier quoted context omitted.

It doesn't say it was closed for suspected fraud anywhere?

It doesn’t say it in the post but it’s what happened. “Your account was closed and we can’t tell you why, also you’re banned now” is always suspected fraud or worse. Source: I work in fintech. Everyone who works in fintech knows this.

I believe you are most likely right. I spoke with the teller at the bank and they said this happens most often with trying to cash bad checks. Mine is not that because I have never done that. My best guess with little evidence is some kind of anti money laundering thing, but again they won't say anything

Re: Tell HN: Chase shadow banned and closed my bank accounts

#93

Post by werewrsdf »

jolmg wrote: post #3

> Anyone have any ideas of what I should do next? Contact the Consumer Financial Protection Bureau? https://en.wikipedia.org/wiki/Consumer_Financial_Protection_... Their homepage has a link on the top-right to submit a complaint. It's possible your state government also has an institution for consumer protection in the finance sector. For example, there's the California Department of Financial Protection and Innovati…

I appreciate this. This is one of the only comments giving me some concrete advice instead of speculating why this happened.

Re: Tell HN: Chase shadow banned and closed my bank accounts

#94

Post by scrollaway »

werewrsdf wrote: post #92
scrollaway wrote: post #28

Earlier quoted context omitted.

It doesn’t say it in the post but it’s what happened. “Your account was closed and we can’t tell you why, also you’re banned now” is always suspected fraud or worse. Source: I work in fintech. Everyone who works in fintech knows this.

I believe you are most likely right. I spoke with the teller at the bank and they said this happens most often with trying to cash bad checks. Mine is not that because I have never done that. My best guess with little evidence is some kind of anti money laundering thing, but again they won't say anything

If you don't know what happened, try to get a bank statement of the past ~2 months and go to someone who works in finance, ask them if there's anything that could raise red flags.

Re: Tell HN: Chase shadow banned and closed my bank accounts

#95

Post by caeril »

> Yesterday someone tried to deposit money in my account

You opened your post with what is almost certainly the reason for this, especially if this is a frequent occurrence.

Banks are increasingly wary of people other than the account holder depositing into KYC accounts. You probably aren't laundering money, and the bank's compliance department probably doesn't think you are either, but they're still not going to risk having to explain your activity at a KYC audit.

Is it right? No. But this is almost certainly the reason. Chase is one of the more trigger-happy banks at this, but they all do it. If you need to be mad at someone, be mad at the government, not the banks that are required to comply with anti-privacy and anti-freedom regulations.

Re: Tell HN: Chase shadow banned and closed my bank accounts

#96

Post by sneak »

hnbad wrote: post #56
sneak wrote: post #4

https://sneak.berlin/20191119/your-money-isnt-yours/ Banks fail closed without notice or recourse or any burden of proof. Plan accordingly.

I assume you're the author of that rant? I think you have one valid point: Liquidity is king. If you have access to large amounts of money, you want to ensure the liquidity of a certain amount of that in various forms of crisis. Don't put it all in the same bank, don't put it all in banks, don't keep all of it digital. Having enough cash to bridge a temporary loss of access to your funds is probably a good idea the s…

This is one of the best replies I have ever received on the internet and I thank you.

Re: Tell HN: Chase shadow banned and closed my bank accounts

#97

Post by werewrsdf »

corobo wrote: post #54
austin-cheney wrote: post #44

I see this account was created only to post this complaint about an account closure. Stripe employees have commented on HN about this behavior as it occurs frequently. That behavior being an account with no history whining about how some big evil bank attacked them, a poor powerless innocent victim, for absolutely no reason. Almost always the account is closed due to fraud only after several rounds of correspondence…

It does seem like it always comes down to crypto or other shenanigans banks want nothing to do with. Would love to know all of the unbiased information whenever this type of post happens. @op the obvious question - what were you doing with the account?

The transactions in the account are rental payments from a tenant and bills paid related to the rental. The account has had the same types of transactions for 4-5 years. It is a shared account with someone else (because I only own part of the rental), so it's possible I am being caught up in something related to them. They are closing that shared account and my personal accounts. They started closing the other persons accounts first (that is why I feel it may be related to them).

Re: Tell HN: Chase shadow banned and closed my bank accounts

#98

Post by werewrsdf »

jolmg wrote: post #59
corobo wrote: post #54

Earlier quoted context omitted.

It does seem like it always comes down to crypto or other shenanigans banks want nothing to do with. Would love to know all of the unbiased information whenever this type of post happens. @op the obvious question - what were you doing with the account?

> @op the obvious question - what were you doing with the account? Geez... Let's let the guy have some privacy. Whatever happened to presuming innocence? If OP is in the wrong, no advice we give is going to get them out of it, but if they're in the right, we might be able to help them. Trying to find fault in OP seems pointless.

Appreciate the sentiment. I held off on saying the transactions for this exact reason. People are already speculating on the cause without the transactions. I was more interested in things to do next instead of wild speculation on the reasons for it happening (which will not help me).

Re: Tell HN: Chase shadow banned and closed my bank accounts

#99

Post by werewrsdf »

KrazyHamburger wrote: post #83

What is happening with the USA? Holding a citizen's money should be illegal at all times no matter what's wrtiten in the contract.

I completely agree. I am going to try to go to the local bank today and demand my money. Will update with what happens.
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