Chase Bank misplaced funds during an 401k to IRA rollover. Who do I complain to, if the bank won’t help?

I initiated a rollover of my 401k account from an old employer to my current self managed IRA accounts. ADP sent me two checks, one with Roth contributions and the other with Traditional contributions. On Dec 14, I brought the checks to a different branch than I usually go to due to my local one having no bankers available due to Covid.

The banker at the branch filled out transfer forms for both checks. One was to go to my Roth IRA and the other to my Traditional IRA. I have copies of the transfer forms (with correct account numbers) and copies of the deposit receipts (with the correct last 4 of the account numbers). However, only the Roth funds were deposited.

I’ve tried calling the branch but they tell me all their bankers are busy and that they will call back when they can, but they never do. If they put me on hold, I get disconnected within a couple minutes. And if I try calling back, they won’t answer.

I’ve called other nearby branches to explain the situation and they’ve been friendly and somewhat helpful, but they told me they contacted the branch and couldn’t get an answer for what happened. Their best guess was that a teller typed in a wrong number when making the deposit, and that I’d have to contact them to figure out how to fix it. I’ve called Chase customer service and they told me the same thing and that they see no pending transactions for the account the money was supposed to go to. My 401k account is zeroed out though.

The problem branch is 40 minutes and a toll bridge away. I’m working 7 days week, so I would also need to take time off and lose money to go. Its just a headache and the lack of transparency makes me think I would waste my time by showing up.

Who do I complain to for the quickest turnaround? Chase corporate? FDIC?



I work for a bank call center, if this happens we will out an adjustment request. Sometimes you might have to fax a copy of the deposit slip but if they can get the time and the teller (on the transaction of the one that went through) they can find the missing one. I do not know why chase is giving you such a hard time, it is an easy fix.

I mean, Chase is the same bank who told me when my ATM card was duplicated and used to hit my account for $1000 at an ATM 4 cities away from where I was sleeping, that they need me to get the police department for that city to subpoena the CCTV from their OWN (yes Chase really tried to say they couldn’t legally access their own security footage) security cameras and fraud department just kept saying they can’t prove it wasn’t someone I know even though they can’t prove that I know whomever did it either… needless to say even after a waste of time of both local authorities and mine; I’m down $1000 from Chase whom is FDIC insured for what, $250k a person? Call me crazy but I can’t shake the feeling that someone pocketed that insurance claim internally.

Tell them you want to “file an official finra complaint with the principal” that will have them shit their pants and get it fixed, if they truly ficked and its on them the principal can fine them and they might be able to repay you for any errors

Edit: they can backdate the trade so there’s so tax consequences for you. If they still refuse to help you you can call any bank and tell them you’re trying to file a finra complaint with the principal and they will help you out. What does “principal” mean in this context? I tried googling but it kept referring me to a FINRA exam. Sorry if that’s a dumb question, I’m not very familiar with this type of business.



Don t do this. This will just annoy people. This is not a FINRA issue, this would be a banking operations complaint at best. They aren’t even required to respond to this complaint.

Source: I’m a FINRA member risk officer.

Beforehand, hit chase up on Twitter or via email. It’s considered an written complaint and they HAVE to address it within a period of time (I believe 30 days but I could be wrong). That should get a result.

I’m in the industry and one of my closest friends runs that side of my firm’s business.

Why FINRA? I thought the Office of the Comptroller of the Currency (OCC) was really the organization that strikes fear into banks. Maybe since this is a 401k issue it would fall under FINRA?

I would threaten to file a complaint to both. And then I would file a complaint with both if I didn’t get a resolution in 48 hrs.

Unless the IRAs are brokerage accounts, FINRA does not have jurisdiction. If these are brokerage accounts, the statement will give contact information for complaints and the name of the registered rep on the account. If it’s a bank account, write to Jamie Dimon, the CEO. He has a dedicated team for complaints directed to him.



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