Not upheld: Card / payment disputes complaint against J.P. Morgan Europe Limited trading as Chase

Decision detail

Summary

Mr W complained that a £800 transfer into his own bank account was delayed while Chase undertook systems checks. Chase explained the delay was due to additional checks required under its terms and regulatory obligations. The ombudsman found Chase acted fairly in undertaking these checks as part of standard banking practice and regulatory compliance. Although the ombudsman acknowledged the delay caused minor inconvenience and that Chase could have communicated better, the impact was limited and the complaint was not upheld.

The Ombudsman's reasoning

Banks have general checks and balances in place to comply with UK regulations and international requirements. Chase was undertaking its usual banking practices and general checks as all financial providers are obligated to do. The delay was limited and caused only minor inconvenience. While Chase could have been more helpful in explaining the situation, the impact was minimal.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website