Chase bank is anti-crypto currency bank
Chase is quite popular in US, but tweets are coming in that it has been recently closing bank accounts of those users that send and receive funds from cryptocurrency exchanges.
Judging by the tweets on crypto twitter, it appears that Citibank and Bank of America are both very progressive in terms of digital assets including cryptocurrencies.
One user, KeyboardMonkey on twitter said that his account was closed without any warning. All he did is wired into OTC desk of a cryptocurrency exchange and this flagged his account. Fortunately, Chase bank has not frozen the funds and he has been given two weeks to move the funds. If he does not move them, he will be mailed a check.
Another user got his Chase account closed without any warnings because he does cryptocurrency trading. Another user says it has nothing to do with cryptocurrencies but with 10000 dollar limit. Anything larger than $10k requires you to follow AML rules.
Anything larger than $10k amounts going in and out of your account regularly trigger AML (anti money laundering) rules.
Doesn’t justify no warnings at all, but pretty sure that would be the reason
— Slapdiback Fistibuns (@SFistibuns) April 26, 2023
That said, even if there is an issue with AML, they ask you to specify reason(s) and not close the account instead.