Bank Abruptly Freezes Over $40K of Illinois Man’s Money

We take for granted the ease of retrieving our money from our bank, be it making a checking or savings withdrawal. One Illinois man missed that ease when his bank inexplicably froze over $40,000 of his funds, making him dependent on a credit card while receiving few answers as to why he couldn't access his money.

Per ABC7 Chicago I-Team, whom Lombard, IL resident Jim Gibson reached out to, Chase Bank froze $42,000 of Gibson's assets. He needed money to pay bills and cover other living expenses, but was without assistance to get the funds he needed. Gibson opened his Chase account on July 7th, 2025 and told the I-Team he "regret that decision greatly."

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Why Gibson's Account Was Frozen:

Gibson said the freeze happened just a few weeks after opening his account. It was when he withdrew a large sum of money:

I got an email from Chase informing me that my account had been suspended with no explanation as to why, and it was directing me to go to the local Chase branch - Jim Gibson, per ABC7 Chicago's website

Gibson was told by a Chase Bank teller that his account was restricted "to help protect against fraud." He said he never got any additional information, but was told he'd receive the money in his account within 10 days.

Weeks Later, Gibson's Account Was Still Frozen:

However, Gibson's account wasn't unlocked in 10 days. Instead, bills continued to mount. He had no choice but to live off a credit card, accruing debt unnecessarily without any option.

Upon reaching out to the ABC7 Chicago I-Team, Jason, of the team, contacted Chase Bank on Jim's behalf, which led to Gibson receiving access to his money shortly thereafter. Chase Bank followed-up with a statement:

To help protect against fraud, we restricted Mr. Gibson's account. After additional review and communication, we released the funds and regret the delay in that process. For privacy and security reasons, that's all the information we can disclose - per ABC7 Chicago's website

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Gibson reiterated that he was not a victim of fraud when he took that money out. No less, banks have the ability to freeze and restrict accounts when they believe a customer is victim to such circumstance. Gibson called the entire experience an "absolute living nightmare daily."

The ABC7 Chicago I-Team recommends those who plan on withdrawing a large sum of money from their bank call their bank to inform them ahead of time so as not to run the risk of their account being frozen. Read more about Jim Gibson's story on ABC7 Chicago's website.