This one can be chalked up to “I knew better but wanted to try anyway.” A month ago, I had applied for a Chase brokerage account and was easily approved. I was banned from Chase many years ago, but did get an Ink card back in 2021. I think I’ve tried to get a Sapphire card last year, but I was denied and they electronically sent me the reason, but I don’t know which account it’s under for me to check the reason for denial since they never snail mailed me the reason.
Anyway, my wife was also banned from Chase many years ago, and she has not been able to get a credit card since then. However, she still has an active mortgage with them that has been left alone. A few weeks ago, she was able to open a brokerage account and subsequently funded $5000 into the account. Then a week later, her online account was locked out. We finally got it resolved today and then when we tried to make a trade, we got an error. When we called back in, the escalation lady told us that Chase doesn’t want to do business with her. We inquired about the $5000 but she wouldn’t tell us what they were going do do about it. I just now tried to log in and withdraw the money and that also got an error. I’m going to give it a few weeks and hope Chase mails me a check for the $5000 balance.
I’m still not sure why she seems to hard-banned from Chase but I’m not. Maybe it’s because of the mortgage that has kept her banned account “active” whereas mine was flushed out(?) Anyway it would have been nice for Chase to a) not allow her to open the account in the first place and b) immediately shut it down instead of letting us deposit money into it.
Why were you banned from chase?