An apparent “glitch” at Chase Bank that allowed people to withdraw large amounts of money from their accounts without having the funds has gone viral on social media.
According to social media users, some people exploited a system error to withdraw money after depositing fake checks into their accounts or after applying for large loans at Chase Bank ATMs.
Chase has apparently rectified the issue, as some are now reporting that their accounts have massive negative balances or have had holds put on them.
A spokesperson for Chase declined to comment when contacted by Newsweek on Sunday.
A file photo shows a person using a Chase Bank ATM on February 29, 2024, in New York City. A so-called “glitch” involving Chase Bank went viral on social media.
Gary Hershorn/Getty Images
Banks usually take several days to verify checks before making funds available in customers’ accounts, but the glitch apparently meant money became available quickly, allowing people to withdraw the funds before the checks were identified as fraudulent.
Others were also apparently quickly approved for large loans at ATMS, as one X, formerly Twitter, user said in a video that quickly racked up more than a million views.
Another viral post on X showed people lined up outside a Chase location in New York, with the user suggesting it was to take advantage of the glitch.
“People are currently lined up outside a Chase bank in New York trying to do the new viral glitch to get free money,” the user wrote in a post which has amassed more than 9 million views.
Now, some are reporting the severe consequences of trying to take advantage of the fault.
Some showed that they were now in massive debt, with one man reporting that his account showed he owes about $40,000. Other videos showed Chase imposed seven-day holds on affected accounts.
Some people noted that the glitch was actually just check fraud and that those who had filmed and posted themselves doing or attempting it on social media could face serious repercussions.
“The internet is amazing,” one person wrote on X.
“A ‘Chase money glitch’ went viral on TikTok. People are filming themselves attempting it. The glitch? Simple check fraud. Just incredible that folks are filming and posting themselves committing fraud.”
Another person wrote: “Please don’t try the Chase Money Glitch. You are either going to ruin your credit or go to jail. Those are the two outcomes.”
And another wrote: “Kind reminder—the ‘chase money glitch’ is wire fraud, a felony. Jail time, restitution and more. Kind of shocked that Chase screwed up this bad, but it’s still illegal.”
