Chase’s chief executive officer says that if you lose your deposit, you can get your cash back from the bank.
In an interview with CNBC’s Jim Cramer, CEO of the bank Chase & Amex’s John C. Doerr explained that the bank has “made a significant investment” in the reserves of the federal reserve.
We’ve built in protections that protect depositors and we’ve invested in that, so we don’t get these bad actors that do this,” Doerr said.
“You’ve got to be able to prove that you were in the wrong place at the wrong time.” “
There is no other way to recover your money,” he said.
“You’ve got to be able to prove that you were in the wrong place at the wrong time.”
If you lose a deposit, Chase will reimburse you for the balance of your deposit.
The bank says if you have any questions about your account, call 800-CALL-CHASE or visit your account at Chase.