Chase Bank Warns TikTok Users That ‘Money Glitch’ Is Check Fraud

Chase Bank has issued a stern warning to TikTok users who participated in a viral trend promising “free cash” through a so-called “money glitch.” The trend, which encouraged people to write large checks to themselves and withdraw the funds before the checks cleared, has been identified by the bank as check fraud. This illegal activity could lead to severe legal consequences for those involved.

The TikTok videos, which gained widespread attention, showed users celebrating after withdrawing significant amounts of money, believing they had found a loophole in the banking system. These participants were exploiting a grace period that Chase Bank offers after a check is deposited, where the funds are made temporarily available before the check is fully processed. The trend prompted individuals to write checks to themselves for large sums, then immediately withdraw a portion of the money.

Chase Bank responded by clarifying that this so-called “money glitch” is actually a criminal act. “Depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” a Chase spokesperson stated. The bank has taken action to address the issue and warned that those who participated in the trend could face serious legal consequences.

Reports from financial experts indicate that individuals involved in check fraud could face heavy fines and jail time, depending on the severity of the offense. Misdemeanor charges for check fraud can result in up to one year in jail, while felony charges can lead to longer prison sentences and substantial fines.

The situation underscores the dangers of following unverified online trends and the potential consequences of engaging in illegal activities.