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Posted
21 hours ago, HRSchenker said:

 

There's a growing trend of Chase terminating customer accounts and refusing to tell them why. I've probably polled over 250 people in my investing Facebook groups and the one common thread is Zelle. I have yet to hear from someone who had their account terminated randomly that never used it. 

Interesting, I'm really curious about this.  Do you know what they were doing with Chase and Zelle?  Were they receiving payments through Zelle?  I can't imagine why Chase would cancel anything if you were just sending money.  Could it be possible these people weren't maintaining a checking account balance with Chase (i.e. just passing money through) such that it wasn't profitable for Chase?

Posted
6 hours ago, fuggled said:

Interesting, I'm really curious about this.  Do you know what they were doing with Chase and Zelle?  Were they receiving payments through Zelle?  I can't imagine why Chase would cancel anything if you were just sending money.  Could it be possible these people weren't maintaining a checking account balance with Chase (i.e. just passing money through) such that it wasn't profitable for Chase?

Several years ago, I heard that zelle was used for illegal transactions, i.e. drugs. It got popular through word of mouth and of course, people can't keep a secret, so it came under harsh scrutiny. Now zelle is "frowned upon". 

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