Question:
My aunt passed in November 2024 and had a Chase Checking Account with her sister as POD. Her sister lives in Japan and has not yet received the funds nor any paperwork, letters or forms from Chase. I was my aunt’s Personal Representative for her estate and am trying to be the conduit between her sister in Japan and Chase Bank. Chase has asked for a letter of instructions from her sister in Japan so that I and Chase can communicate. Chase has every piece of paper necessary to make this happen including I.D’s, notary with Japanese Consulate seal, death certificate, etc. Chase Estate Services now wants a Transfer Certificate which could involve a 29-page 706 form.
I have tried to explain that we are not dealing with an estate only a payout on the POD. There is no one assigned to my aunt’s case, so each time I call I end up speaking with a different person and we get no where. I am beginning to believe Chase is wrongfully holding my aunt’s funds and litigation might be in the future. Thirteen months have now passed Your help, thoughts and/or comments please. I have worked with two other banks to release POD funds for her sister in Japan and only needed an Affidavit and W8-BEN form.
Response:
You need to find a way to kick this upstairs at Chase, to find someone who can resolve issues like this. The next time you contact Chase, ask to speak to a supervisor or see if they have someone in the role of troubleshooter (they may have another name) to resolve intractable issues. If you can get to the right person, I’m sure that this can be resolved quickly.
If you can’t get to the right person due to Chase’s bureaucracy, you may need to bring suit or at least threaten to do so. A lawyer’s letter explaining the problem and threatening to seek damages if this is not resolved short of bringing suit should get you to their legal department, which might also achieve results. These are usually the most effective means to deal with bank recalcitrance.
