Social media is buzzing with rumors about a Chase Bank 'glitch' that supposedly lets people withdraw large sums of money. What’s the story behind this scam?
Rumors have been rapidly circulating on social media about an alleged online banking glitch that supposedly allowed Chase Bank customers to withdraw up to $50,000 or more from ATMs without facing any repercussions.
The prospect of “free money” has captivated many, leading some to attempt to exploit the reported glitch.
But what exactly is this viral Chase Bank “glitch” scam, and how does it work? According to pop culture website Complex.com, the so-called glitch is actually a form of check fraud. The scam involves depositing fake checks for large amounts, which temporarily allows the depositor to withdraw cash from ATMs before the checks are flagged as fraudulent.
Complex.com reports that Chase has taken steps to address the issue, penalizing those who attempted to exploit the glitch with seven-day holds or significant negative account balances.
Interestingly, Chase has not publicly acknowledged the widespread attention these fraudulent transactions have received, according to Complex.com.
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