Customers who allegedly withdrew money fraudulently from Chase Bank ATMs using an illegal scheme that blew up on TikTok over the summer could soon have to cut hefty checks back to the bank.
These people were able to withdraw funds by writing checks to themselves and immediately withdrawing funds before the checks bounced. Normally, the bank follows the industry standard of making a portion of any check available to customers before the funds clear. However, a temporary glitch allowed customers to withdraw more substantial amounts than typically allowed before a check clears.
Now the bank is suing four customers who allegedly owe the bank nearly $662,000
Now, in addition to returning the funds they allegedly accessed illegally, Chase is demanding the defendants cover the bank’s legal fees and other expenses related to the cases.
No one at Chase:
Me: Why the fuck is your maximum deposit for a check in excess of 300,000 dollars? Do people routinely decide to deposit such an instrument at an ATM?
For private client or business accounts maybe, but it’s mind boggling that they allow that amount for standard accounts via an ATM. My business account maxes out at $15k for ATM/mobile deposit, anything over that I have to go inside.