Recovering Chase refunds

Frequently asked questions

• What are common Chase scams?

  Cryptocurrency scams are still one of the most common types of scams, particularly when it comes to bank scams and fraud. This is because scammers find it easy to trick unsuspecting victims into sending funds to cryptocurrency wallets, which can then be difficult to trace. As well as this, a lot of scammers know that banks offer little protection when it comes to crypto fund recovery, so they can seemingly get away with it, or so they think.

  As well as this, advanced payment fraud, or APP fraud, is another common scam that Chase bankers report on. This is where a scammer will dupe a trusted person or business and ask the victim to send money from their account directly to them. To do this, they will need to approve the payment in their banking app, often ignoring numerous warnings and requests from the banks not to do so, as the scammer will be telling them that they can disregard them as they are a trusted person.

  With APP scams, banks including Chase will often reject claims for refunds on the basis that they did all that they could to try and stop the payment. This is where we come in. If you’re trying to get a refund from Chase and have so far been unsuccessful, then we can help recover your lost funds.

• How do I submit a complaint to Chase bank?

  Your bank has a responsibility to help you recover any funds you have lost to fraud or scams involving their accounts and take reasonable action to protect you if it believes that unusual activity is taking or has taken place. There are some cases where recovery might not be possible, but there is always the option to complain if you believe that your case or account hasn’t been correctly handled or investigated.

  Should you find that your Chase scam refund request has been unsuccessful, or if you want to submit a complaint to Chase following an unsuccessful appeal, then contact us at WRS, as we can work to recover your lost funds. Remember, Chase is a regulated bank so they do need to comply with UK banking regulations and rules.

• Is Chase a Bank?

  Chase is a digital banking system owned and operated by US investment banking company J.P. Morgan. In September 2021, Chase Bank launched online in the UK, offering cost and fee-free banking on its mobile app for personal and saving current accounts. Chase is a fully licenced bank in the UK, is regulated by the FCA and doesn’t charge fees for overseas use. In the US, Chase is one of the largest consumer banks and offers a very large range of products and services, so it is known to be a big banking name over there. However, as it is a solely digital bank, this then opens up issues with online banking scams and fraud.

• Are Chase part of the CRM Code?

  As of yet, Chase has not signed the Contingent Reimbursement Model Code (CRM Code). This then means that Chase does not offer stronger protection for victims of fraud than the contingent reimbursement model provides, which a number of other high street banks do. The CRM Code works by offering refunds to victims of fraud unless they have provided a relevant or thorough warning, which was then ignored, or where the customer didn’t have the basis for belief. If the bank really didn’t give you a good enough warning or the scam was highly convincing, then your bank should be refunding you.

• What to do if you’ve been the victim of a scam through Chase

  If you’ve found that you have been the victim of a Chase bank scam, then the first thing to do is to reach out to Chase directly and see what steps they can take. If this is unsuccessful, or Chase concludes that they won’t be taking your case any further, then we recommend either reaching out to the FOS or arranging a consultation with our team at WRS. We operate on a no win, no fee basis, with free consultations available.